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The BenefitsLink Newsletter -
Retirement Plans Edition
February 8, 2001
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Reish & Luftman Attorneys Announce Publication of 'Plan Correction Answer Book'
Excerpt: "Co-authored by Fred Reish and Bruce Ashton, the Plan Correction Answer Book gives benefits practitioners a comprehensive and practical guide to understanding and implementation of each of the IRS' remedial programs. The book explains IRS practices in the operation of the programs, and gives examples of how disqualifying defects can be corrected. Chapters discuss how each of the programs work and give practitioner tips for making the best use of them." (Reish & Luftman)
Announcing NewRMD.com Website, From the Folks Who Bring You RothIRA.com
Excerpt: "The purpose of this site is to provide technical and planning information on the new Required Minimum Distributions rules for IRAs and qualified plans to practitioners and consumers." (Brentmark Software, Inc.)
John Hancock Lets 31 Go From Recordkeeping Business
Excerpt: "John Hancock Financial Services Inc. fired 31 employees from its 401(k) record-keeping business yesterday and said the fate of about 190 other employees is up in the air as the company looks to sell the unit." (Boston Herald)
Press Release: John Hancock Financial Services To Exit Retirement Plan Recordkeeping Business
Excerpt: "BOSTON, February 6, 2001 - Following a meeting of the Board of Directors of John Hancock Financial Services, Inc., it was announced that the company plans on exiting the retirement plan recordkeeping business, which provides recordkeeping to 401(k) and other defined contribution retirement plans." (John Hancock Financial Services)
Workers Must Take More Than Close Look At Chrysler's Early Retirement Offer
Excerpt: "Chrysler Group salaried workers wrestling with whether to accept early-retirement offers should carefully analyze their cash flow and non-pension nest eggs before acting. DaimlerChrysler this week said thousands of white-collar workers age 53 and up with at least 10 years on the job may claim full pension benefits with no early-retirement reduction." (Detroit News)
401(k) Plan Asset Allocation, Account Balances, and Loan Activity in 1999 (PDF)
Excerpt: "... three-quarters of plan balances are invested directly or indirectly in equity securities. Specifically, 53 percent of plan balances are invested in equity funds, 19 percent in company stock, 10 percent in guaranteed investment contracts (GICs), 7 percent in balanced funds, 5 percent in bond funds, 4 percent in money funds, and 1 percent in other stable value funds." (Investment Company Institute)
EBRI/ICI Study Finds Account Balances in 401(k) Plans Growing
Excerpt: "Americans are increasingly responsible for planning for their own retirement needs. New research released today by the Investment Company Institute (ICI) and the Employee Benefit Research Institute (EBRI) indicates that 401(k) plan participants are accumulating substantial account balances and making sensible investment decisions." (Investment Company Institute)
Speech by SEC Commissioner: Social Security Privatization
Excerpt: "While Social Security reform has not been a traditional area of expertise for the Commission, many of the issues that arise --such as investor education, financial literacy, corporate governance, disclosure of material information, including administrative costs, and sales practices -- have long been a concern for us." (Securities and Exchange Commission)
Welcome to new BenefitsLink advertiser Qualified Annuity Services, Inc.
One of the pension industry?s leading group annuity consulting firms is Qualified Annuity Services, Inc. Since its inception in 1981 the company has maintained a reputation for proficiency with plan document underwriting and effectively negotiates for competitive annuity pricing. QAS emphasizes the importance the DOL's guidelines set forth in Interpretive Bulletin 95-1 and helps plan sponsors recognize procedural prudence in purchasing the safest available annuity. Call 800-543-0868 for more info
(Following items also appear in Welfare Plans Edition)
Split Dollar Treatment Could Be Changed Significantly (PDF)
Excerpt: "In a surprising notice, IRS has said that the tax treatment of split dollar life insurance arrangements could change significantly for employees. (Notice 2001-10) The notice clarifies old IRS rulings, provides interim guidance, and requests comments by April 30 on key split dollar issues. Under the notice?s transition rules, some changes will apply in 2002, and others will be delayed until 2004." (Aon Consulting)
Ways and Means Subcommittee on Oversight Publishes Oversight Plan for 107th Congress (PDF)
Includes plans for continued review of broad-based stock option programs, tax law complexity. (U.S. House of Representatives)
Newly Posted or Renewed Job Openings ( Post Yours! )
Newly Posted Conferences ( Post Yours! )
Newly Posted Press Releases
Subscribe to the Welfare Plans Edition, too (click)
Copyright 2001 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 BLretirement@add.mb00.net
We have an online archive of prior issues at
https://benefitslink.com/newsletters/
Retirement Plans Edition
February 8, 2001
Today's sponsor: the The International Quality & Productivity Center presents a powerful two-day conference:
BENEFITS 2001 CONGRESS
How to Increase Customer Satisfaction & Leverage Your Benefits Dollars
March 26-27, 2001
Scottsdale, AZ
For more information call: 1-800-882-8684 or visit: http://www.iqpc.com/b156benefits2001
Reish & Luftman Attorneys Announce Publication of 'Plan Correction Answer Book'
Excerpt: "Co-authored by Fred Reish and Bruce Ashton, the Plan Correction Answer Book gives benefits practitioners a comprehensive and practical guide to understanding and implementation of each of the IRS' remedial programs. The book explains IRS practices in the operation of the programs, and gives examples of how disqualifying defects can be corrected. Chapters discuss how each of the programs work and give practitioner tips for making the best use of them." (Reish & Luftman)
Announcing NewRMD.com Website, From the Folks Who Bring You RothIRA.com
Excerpt: "The purpose of this site is to provide technical and planning information on the new Required Minimum Distributions rules for IRAs and qualified plans to practitioners and consumers." (Brentmark Software, Inc.)
John Hancock Lets 31 Go From Recordkeeping Business
Excerpt: "John Hancock Financial Services Inc. fired 31 employees from its 401(k) record-keeping business yesterday and said the fate of about 190 other employees is up in the air as the company looks to sell the unit." (Boston Herald)
Press Release: John Hancock Financial Services To Exit Retirement Plan Recordkeeping Business
Excerpt: "BOSTON, February 6, 2001 - Following a meeting of the Board of Directors of John Hancock Financial Services, Inc., it was announced that the company plans on exiting the retirement plan recordkeeping business, which provides recordkeeping to 401(k) and other defined contribution retirement plans." (John Hancock Financial Services)
Workers Must Take More Than Close Look At Chrysler's Early Retirement Offer
Excerpt: "Chrysler Group salaried workers wrestling with whether to accept early-retirement offers should carefully analyze their cash flow and non-pension nest eggs before acting. DaimlerChrysler this week said thousands of white-collar workers age 53 and up with at least 10 years on the job may claim full pension benefits with no early-retirement reduction." (Detroit News)
401(k) Plan Asset Allocation, Account Balances, and Loan Activity in 1999 (PDF)
Excerpt: "... three-quarters of plan balances are invested directly or indirectly in equity securities. Specifically, 53 percent of plan balances are invested in equity funds, 19 percent in company stock, 10 percent in guaranteed investment contracts (GICs), 7 percent in balanced funds, 5 percent in bond funds, 4 percent in money funds, and 1 percent in other stable value funds." (Investment Company Institute)
EBRI/ICI Study Finds Account Balances in 401(k) Plans Growing
Excerpt: "Americans are increasingly responsible for planning for their own retirement needs. New research released today by the Investment Company Institute (ICI) and the Employee Benefit Research Institute (EBRI) indicates that 401(k) plan participants are accumulating substantial account balances and making sensible investment decisions." (Investment Company Institute)
Speech by SEC Commissioner: Social Security Privatization
Excerpt: "While Social Security reform has not been a traditional area of expertise for the Commission, many of the issues that arise --such as investor education, financial literacy, corporate governance, disclosure of material information, including administrative costs, and sales practices -- have long been a concern for us." (Securities and Exchange Commission)
Welcome to new BenefitsLink advertiser Qualified Annuity Services, Inc.
One of the pension industry?s leading group annuity consulting firms is Qualified Annuity Services, Inc. Since its inception in 1981 the company has maintained a reputation for proficiency with plan document underwriting and effectively negotiates for competitive annuity pricing. QAS emphasizes the importance the DOL's guidelines set forth in Interpretive Bulletin 95-1 and helps plan sponsors recognize procedural prudence in purchasing the safest available annuity. Call 800-543-0868 for more info
Split Dollar Treatment Could Be Changed Significantly (PDF)
Excerpt: "In a surprising notice, IRS has said that the tax treatment of split dollar life insurance arrangements could change significantly for employees. (Notice 2001-10) The notice clarifies old IRS rulings, provides interim guidance, and requests comments by April 30 on key split dollar issues. Under the notice?s transition rules, some changes will apply in 2002, and others will be delayed until 2004." (Aon Consulting)
Ways and Means Subcommittee on Oversight Publishes Oversight Plan for 107th Congress (PDF)
Includes plans for continued review of broad-based stock option programs, tax law complexity. (U.S. House of Representatives)
Newly Posted or Renewed Job Openings ( Post Yours! )
for UNIVERSAL
in CA
in CA
for The Horton Group
in IL
in IL
for Pentegra Group-Financial Planning to Financial Institutes
in NY
in NY
for Tennessee Independent Colleges and Universities Association Benefit Consortium
in TN
in TN
for E.A. Edberg Associates, Inc.
in AZ
in AZ
for William M. Mercer, Inc.
in CA
in CA
for New England Financial/ MetLife - leading Financial Services Company
in IL
in IL
for KeyCorp
in OH
in OH
for Automatic Data Processing- Retirement Services
in NJ
in NJ
Newly Posted Conferences ( Post Yours! )
in ALL STATES
on April 8, 2001
presented by PRUDENTIAL SECURITIES INC.
presented by PRUDENTIAL SECURITIES INC.
in
on March 16, 2001
presented by ASPA
presented by ASPA
Newly Posted Press Releases
J.D. Edwards and Lifemap Communications Ink Reseller Agreement To Deliver Powerful Employee Self-Service Portal
(LifeMap Communications, Inc.)
Subscribe to the Welfare Plans Edition, too (click)
Copyright 2001 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 BLretirement@add.mb00.net
We have an online archive of prior issues at
https://benefitslink.com/newsletters/