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The BenefitsLink Newsletter -
Retirement Plans Edition
September 28, 2000
Data Aggregation: Let's Get Ready to Rummmmble
Excerpt: "The last twelve months have witnessed an explosive growth in the depth and breadth of data aggregation services available to individuals online.... Simply defined, data aggregation is the collection, consolidation, processing and presentment of personal financial (and other) data for modeling, decision-making and implementation of those decisions." (401kWire.com)
Thrift Savings Plan to Add Small Cap and International Stock Choices in May 2001
(Federal Retirement Thrift Investment Board)
Railroad Retirement Bill May Pass
Excerpt: "A campaign-season bill to raise benefits for thousands of retired rail workers and cut taxes for railroads appears headed for passage in Congress despite concerns it could drain $15 billion from the budget surplus and permit risky investment in private securities." (New York Times; free registration required)
JCT Describes Roth's Amendment to Chairman's Mark of Railroad Retirement Bill (PDF)
JCX-102-00, September 26, 2000. (Joint Committee on Taxation)
Should Administrative Expenses Be Paid By Plan Sponsor, Or Taken From Plan's Assets?
A recommended discussion, taking place on our message boards. (BenefitsBoards.net)
Lawyer Calls Participant Notice Requirement "Chilling" Under DOL Voluntary Correction Program
Excerpt: "While [attorney Brad] Huss generally gave DOL credit for issuing the VFC as a means for plan fiduciaries to self-correct certain violations of ERISA Title I, he called the notice requirement the most controversial feature of the VFC and expressed a clear concern that the requirement may cause some fiduciaries and plan sponsors to not use the VFC." (CCH)
The Proposed SEC Rule on Auditor Independence and Its Consequences
Excerpt: "Last month members were alerted to a recent SEC proposal that would place severe limitations on the nonaudit services CPA firms can offer to audit clients ... Although the proposed rule ... is meant to strengthen auditor independence, we at the AICPA believe the actual effect would be to weaken the quality of financial reporting, limit companies' choices of outside professionals and damage the economic vitality of many CPA firms without any positive effect on independence." (Journal of Accountancy)
Social Security in the 21st Century (PDF)
This 47-page policy paper is from the Joint Economic Committee is a group of senators, led by Connie Mack of Florida. Excerpt: "Many people are coming to the conclusion that the best way to accomplish these goals is by establishing personal retirement savings accounts for all workers. Retirement savings accounts would provide a secure source of retirement income, while allowing everyone to benefit from the growth of the economy." (Joint Economic Committee)
(Following also appears in Welfare Plans Edition)
DOL Advisory Opinion 2000-11A Released
Excerpt: "This responds to your request for an advisory opinion concerning the status of the Firefighters' Variable Supplements Fund (VS Fund) under Title I of ERISA ... we conclude that the VS Fund is a 'governmental plan' within the meaning of section 3(32) of ERISA ... [Here,] the VS Fund is the product of collective bargaining between the UFA and the City and has limited its coverage to employees of the City." (U.S. Department of Labor)
Money Talks, or Partners Walk: Structuring A Professional Service Firm's Compensation Formula
(Journal of Accountancy)
The Ins and Outs of SERP Swaps
Excerpt: "To help executives maximize wealth for future generations, some companies offer [Supplemental Executive Retirement Program, or 'SERP'] swaps. Executives can swap heavily taxed retirement benefits for tax-favored employer-funded life insurance contracts on the life of the executive or the executive and his or her spouse." (Journal of Accountancy)
How to Avoid the $1 Million Compensation Cap In IPOs and Spinoffs
Excerpt: "For federal tax purposes, public companies can deduct no more than $1 million of annual compensation for the CEO and each of four other highly paid officers. For a newly public company, disallowed deductions could create a severe cash crunch. Effective planning includes postponing the limit and structuring compensation packages that avoid it." (Journal of Accountancy)
Job Openings Newly Posted or Reposted on EmployeeBenefitsJobs.com
Subscribe to the Welfare Plans Edition, too (click)
Copyright 2000 BenefitsLink.com, Inc.
Feel free to forward this email to friends, colleagues or clients, if no fee is paid to you and the email is forwarded in its entirety. Thanks!
BenefitsLink is a trademark of BenefitsLink.com, Inc., published by Dave Baker with much help from Mary Hall and lots of friends.
To subscribe (free): visit https://benefitslink.com/newsletter - or the person desiring to subscribe can send an email to listmanager@postmastergeneral.com, with this as the subject of the email: subscribe BLretirement
We have an online archive of prior issues at
http://www.postmastergeneral.com/cgi-bin/archive.pl?list=BLretirement
Retirement Plans Edition
September 28, 2000
Data Aggregation: Let's Get Ready to Rummmmble
Excerpt: "The last twelve months have witnessed an explosive growth in the depth and breadth of data aggregation services available to individuals online.... Simply defined, data aggregation is the collection, consolidation, processing and presentment of personal financial (and other) data for modeling, decision-making and implementation of those decisions." (401kWire.com)
Thrift Savings Plan to Add Small Cap and International Stock Choices in May 2001
(Federal Retirement Thrift Investment Board)
Railroad Retirement Bill May Pass
Excerpt: "A campaign-season bill to raise benefits for thousands of retired rail workers and cut taxes for railroads appears headed for passage in Congress despite concerns it could drain $15 billion from the budget surplus and permit risky investment in private securities." (New York Times; free registration required)
JCT Describes Roth's Amendment to Chairman's Mark of Railroad Retirement Bill (PDF)
JCX-102-00, September 26, 2000. (Joint Committee on Taxation)
Should Administrative Expenses Be Paid By Plan Sponsor, Or Taken From Plan's Assets?
A recommended discussion, taking place on our message boards. (BenefitsBoards.net)
Lawyer Calls Participant Notice Requirement "Chilling" Under DOL Voluntary Correction Program
Excerpt: "While [attorney Brad] Huss generally gave DOL credit for issuing the VFC as a means for plan fiduciaries to self-correct certain violations of ERISA Title I, he called the notice requirement the most controversial feature of the VFC and expressed a clear concern that the requirement may cause some fiduciaries and plan sponsors to not use the VFC." (CCH)
The Proposed SEC Rule on Auditor Independence and Its Consequences
Excerpt: "Last month members were alerted to a recent SEC proposal that would place severe limitations on the nonaudit services CPA firms can offer to audit clients ... Although the proposed rule ... is meant to strengthen auditor independence, we at the AICPA believe the actual effect would be to weaken the quality of financial reporting, limit companies' choices of outside professionals and damage the economic vitality of many CPA firms without any positive effect on independence." (Journal of Accountancy)
Social Security in the 21st Century (PDF)
This 47-page policy paper is from the Joint Economic Committee is a group of senators, led by Connie Mack of Florida. Excerpt: "Many people are coming to the conclusion that the best way to accomplish these goals is by establishing personal retirement savings accounts for all workers. Retirement savings accounts would provide a secure source of retirement income, while allowing everyone to benefit from the growth of the economy." (Joint Economic Committee)
(Following also appears in Welfare Plans Edition)
DOL Advisory Opinion 2000-11A Released
Excerpt: "This responds to your request for an advisory opinion concerning the status of the Firefighters' Variable Supplements Fund (VS Fund) under Title I of ERISA ... we conclude that the VS Fund is a 'governmental plan' within the meaning of section 3(32) of ERISA ... [Here,] the VS Fund is the product of collective bargaining between the UFA and the City and has limited its coverage to employees of the City." (U.S. Department of Labor)
Money Talks, or Partners Walk: Structuring A Professional Service Firm's Compensation Formula
(Journal of Accountancy)
The Ins and Outs of SERP Swaps
Excerpt: "To help executives maximize wealth for future generations, some companies offer [Supplemental Executive Retirement Program, or 'SERP'] swaps. Executives can swap heavily taxed retirement benefits for tax-favored employer-funded life insurance contracts on the life of the executive or the executive and his or her spouse." (Journal of Accountancy)
How to Avoid the $1 Million Compensation Cap In IPOs and Spinoffs
Excerpt: "For federal tax purposes, public companies can deduct no more than $1 million of annual compensation for the CEO and each of four other highly paid officers. For a newly public company, disallowed deductions could create a severe cash crunch. Effective planning includes postponing the limit and structuring compensation packages that avoid it." (Journal of Accountancy)
401(k) Administrator, Daily Valuation Plans
for CNA TRUST
in CA
in CA
Defined Contribution Plan Administrators
for Alliance Benefit Group of Houston, Inc.
in TX
in TX
Defined Benefit Analyst
for Paragon Consulting Group
in DC, DE, MD, NJ, NY, PA
in DC, DE, MD, NJ, NY, PA
Writer - Fringe Benefits
for www.firstdoor.com
in GA, NY
in GA, NY
Century Sales Manager
for T. Rowe Price Associates, Inc.
in MD
in MD
Pension Administrator
for Pension Financial Services
in GA
in GA
Subscribe to the Welfare Plans Edition, too (click)
Copyright 2000 BenefitsLink.com, Inc.
Feel free to forward this email to friends, colleagues or clients, if no fee is paid to you and the email is forwarded in its entirety. Thanks!
BenefitsLink is a trademark of BenefitsLink.com, Inc., published by Dave Baker with much help from Mary Hall and lots of friends.
To subscribe (free): visit https://benefitslink.com/newsletter - or the person desiring to subscribe can send an email to listmanager@postmastergeneral.com, with this as the subject of the email: subscribe BLretirement
We have an online archive of prior issues at
http://www.postmastergeneral.com/cgi-bin/archive.pl?list=BLretirement
DEPARTMENTS
BENEFITS SPEAKERS
Looking for a speaker for your benefits group? Want to throw your hat into the ring? Free.
BENEFITS CANDIDATES
Need personnel? It's like fishing in a barrel here.
BENEFITS JOBS
Need a benefits job? Sort the openings by their distance away from you.
BENEFITSBOARDS.NET
Exchange questions and tips with colleagues. Co-sponsored by us and several employee benefits organizations.
PROGRESSIONS
Promotions and new personnel in the employee benefits community.
Q&A COLUMNS
Experts field questions online, submitted by readers via email.
CONFERENCES
View by location, by sponsoring organization, or by date.
SOFTWARE
Largest listing of benefits software on the net: descriptions, downloads.
ADVERTISE
Ads are our sole source of support. No subscription fees!
CONTACT US
Questions?
Comments?
Suggestions?
Copyright 2000 BenefitsLink.com, Inc. All rights reserved. BenefitsLink is a trademark of BenefitsLink.com, Inc.
Looking for a speaker for your benefits group? Want to throw your hat into the ring? Free.
BENEFITS CANDIDATES
Need personnel? It's like fishing in a barrel here.
BENEFITS JOBS
Need a benefits job? Sort the openings by their distance away from you.
BENEFITSBOARDS.NET
Exchange questions and tips with colleagues. Co-sponsored by us and several employee benefits organizations.
PROGRESSIONS
Promotions and new personnel in the employee benefits community.
Q&A COLUMNS
Experts field questions online, submitted by readers via email.
CONFERENCES
View by location, by sponsoring organization, or by date.
SOFTWARE
Largest listing of benefits software on the net: descriptions, downloads.
ADVERTISE
Ads are our sole source of support. No subscription fees!
CONTACT US
Questions?
Comments?
Suggestions?
Copyright 2000 BenefitsLink.com, Inc. All rights reserved. BenefitsLink is a trademark of BenefitsLink.com, Inc.