Compliance May 26, 2009

ERISA Council Session Scheduled June 11

The Advisory Council on Employee Welfare and Pension Benefit Plans (also known as the ERISA Advisory Council) will meet June 11 in Washington.
Reported by

The meeting will take place at the U.S. Department of Labor (DoL), 200 Constitution Ave. N.W., Room S-2508.

According to a DoL news release, the full council meeting, which will run 1:30 to 4:30 p.m., will begin with the swearing in of new members and introduction of the council chair and vice chair.

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The agenda also includes an update on the activities of the Labor Department’s Employee Benefits Security Administration (EBSA) and determination of topics to be addressed by the 2009 Advisory Council, the agency said.

The ERISA Advisory Council consists of 15 members appointed to staggered three-year terms by the secretary of labor. The members represent the general public, employers, employee organizations and the fields of insurance, corporate trust, investment management, investment counseling, accounting and actuarial counseling, the agency said.

The advisory council meeting is open to the public. Anyone wishing to submit a written statement should do so by June 4 to Larry Good’s attention via regular mail to ERISA Advisory Council, U.S. Department of Labor, 200 Constitution Ave. N.W., Room N-5623, Washington, D.C. 20210, or electronically to good.larry@dol.gov. For requests to address the council, contact Good at 202-693-8668.

The Markets May 26, 2009

Vanguard Cuts Nevada 529 Plan Expenses

The Vanguard Group has announced expense reductions, effective June 1, 2009, across the entire lineup of investment options in The Vanguard 529 College Savings Plan, sponsored by the State of Nevada.
Reported by

A Vanguard news release said that, as a result, the all-in costs of the national plan’s 19 investment options will range from 0.44% to 0.66%, representing cost savings of approximately $1.8 million annually for plan investors.

The all-in costs of the plan’s three age-based investment options will decline from 0.50% to 0.44%, a 12% decrease, Vanguard said.

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“By lowering expenses, we’re enabling investors to keep more of their dollars working toward their college savings goals,” said Alba Martinez, principal, Vanguard’s Education Markets Group.

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