If this message looks garbled to you or if the headlines in this message don't connect you to Web pages when you click on them, please request the "plain text" version of this newsletter ("Retirement Plans Edition") by emailing your request to publisher Dave Baker
April 30, 2001
Today's sponsor: Employee Benefits Webcast (click)
Commentary: a Miserable Pension Bill
Excerpt: "THE HOUSE Ways and Means Committee has approved still another tax cut bill, the third this year. Unlike the first two, this one is relatively small, was not proposed by President Bush and has strong bipartisan support. The House is expected to pass it overwhelmingly this week. But that's unfortunate, because the bill would not produce the healthy result its sponsors suggest." (Washington Post)
Baltimore Employer Under Scrutiny for Late 401(k) Contributions
(4/28/2001) Excerpt: "In what might be a violation of federal law, Gr8 LLC, a Baltimore design, marketing and technology company, has held onto funds that were supposed to be invested into an employee 401(k) plan. Company officials have acknowledged to The Sun that there was a 'shortfall' in the 401(k) and also that current and laid-off employees have not received paychecks recently.... 'There was a minor shortfall in some of the funding of the 401(k),' ... a spokeswoman for Gr8, said ..." (Baltimore Sun)
IRS Approves Another Top Hat/401(k) Wrap Arrangement
Excerpt: "The Internal Revenue Service ('IRS') has again approved a top hat/401(k) 'wrap' arrangement. In a typical wrap arrangement, a participant affirmatively elects to participate in both a nonqualified plan and a 401(k) plan. The election takes place no later than December 31 of the year preceding participation. The election designates both the desired deferral into the nonqualified plan and the deferral amount to be transferred into the 401(k) plan." (EBIA Weekly)
Press Release - Portman-Cardin Retirement Security Bill Sails Through House Workforce Committee
The passage by the House Education & the Workforce Committee follows by only a day the passage by the House Ways & Means Committee. (House Education & the Workforce Committee)
Welcome to new BenefitsLink advertiser Carlson Search Associates, Inc.
'Carlson Search Associates, Inc. is a full service executive recruiting firm that specializes in the recruitment and placement of experienced individuals in the 401(k) retirement plan industry. We work with junior and senior level executives with backgrounds in recordkeeping, compliance, plan implementation, operations management, customer service and relationship management. We have extensive experience placing individuals in sales positions as well including outside and inside wholesalers."
Former Spouse Designated as Beneficiary Loses Out on Post-Egelhoff Decision
Weaver v. Keen (Tex. App. 2001). Excerpt: "... it seems to us unlikely that the Egelhoff court, had it been faced with the issue, would have approved of the use of federal common law in this circumstance. If, under Egelhoff, plan administrators are to rely on ERISA and the plan documents to determine who is the beneficiary, then there is no 'gap' to be filled and thus no need to apply federal common law." (EBIA Weekly)
Fewer Companies Offering Pensions to Board Members
Excerpt: "The number of companies offering pension plans to members of their boards has plunged during the past two years, from 42 percent to 12 percent ..." (StarTribune.com)
Focusing on Retirement Needs: the Period After Retirement (PDF)
Excerpt: "Plan sponsors, employee benefit and financial professionals need to begin offering additional retirement plan distribution options, education, advice, and financial products in order to better help employees manage their retirement through changing key post-retirement events." (Anna M. Rappaport, FSA, MAAA, published by International Foundation for Retirement Education)
Before Investing in Newly Offered S or I Funds, Consider These Questions
Excerpt: "Tomorrow, the Thrift Savings Plan will offer two new investment funds, the first additions to the Thrift Savings Plan since it began in 1987. The advent of the new funds provides federal employees with the opportunity to review their financial plans and rethink their stock market strategies. The new investment choices are the Small Capitalization Stock Index Investment Fund, called the S Fund, and the International Stock Index Investment Fund, or I Fund." (Washington Post)
Pension Reform Progress: Ways and Means Committee Votes YES
Excerpt: "The House Ways and Means Committee, under the leadership of Senator Bill Thomas,(R-California), made pension reform one step closer to reality this week. With unanimous support from the Republican members of the committee and all but 6 Democrat members, the Committee voted 35-6 in favor of the bill." (Greg Hanna's Retirement Planning site on About.com)
(Following items also appear in Welfare Plans Edition)
IRS Publishes Free Email Newsletter for Benefits Practitioners
Excerpt: "The Employee Plans News is issued periodically during the year with retirement plan information from the offices of Employee Plans ... Sign-up for the Employee Plans News and you'll get information such as: Details on upcoming EP Benefits Conferences; What's new on the IRS Web Site for Retirement Plans; Information on (as well as links to) Recently Published Guidance; Information on current EP Determination and Examination activities." (Internal Revenue Service)
Participants Say Statements Should Be Short, Simple (PDF)
Excerpt: "T. Rowe Price recently conducted a national study of 21 retirement plan sponsors and participants representing 230,000 workers and retirees, and found that participants aren't interested in the 'fluff' and extra expense associated with some statements." (International Foundation for Retirement Education)
Spring 2001 Edition of IRS' Employee Plans News (PDF)
Excerpt: "Message From Evelyn A. Petschek, Commissioner, Tax Exempt & Government Entities (TE/GE) Division: I am excited to unveil the first edition of the Employee Plans News to the employee plans practitioner community. This newsletter is one of the ways in which we will keep you informed of the latest developments in our programs." (Internal Revenue Service)
Newly Posted or Renewed Job Openings ( Post Yours! )
Newly Posted Conferences ( Post Yours! )
Subscribe to the Welfare Plans Edition, too (click)
Copyright 2001 BenefitsLink.com, Inc.
You may freely distribute this email newsletter in whole.
Click here to learn how your company can sponsor a future issue!
BenefitsLink is a registered trademark of BenefitsLink.com, Inc., published by Dave Baker with much help from Mary Hall and lots of friends.
We're proud of our privacy policy .
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/
The BenefitsLink Newsletter -
Retirement Plans Edition
Retirement Plans Edition
April 30, 2001
Today's sponsor: Employee Benefits Webcast (click)
Determination of Required Minimum Retirement and Death Distributions from Qualified Plans, IRAs, 457(b) Plans and 403(b) Plans - Instructor: Larry Grudzien of Buck Consultants Presented LIVE on Monday May 14th at 1 p.m. EST by Technical Answer Group. Available for purchase through BenefitsLink - click to register!
Commentary: a Miserable Pension Bill
Excerpt: "THE HOUSE Ways and Means Committee has approved still another tax cut bill, the third this year. Unlike the first two, this one is relatively small, was not proposed by President Bush and has strong bipartisan support. The House is expected to pass it overwhelmingly this week. But that's unfortunate, because the bill would not produce the healthy result its sponsors suggest." (Washington Post)
Baltimore Employer Under Scrutiny for Late 401(k) Contributions
(4/28/2001) Excerpt: "In what might be a violation of federal law, Gr8 LLC, a Baltimore design, marketing and technology company, has held onto funds that were supposed to be invested into an employee 401(k) plan. Company officials have acknowledged to The Sun that there was a 'shortfall' in the 401(k) and also that current and laid-off employees have not received paychecks recently.... 'There was a minor shortfall in some of the funding of the 401(k),' ... a spokeswoman for Gr8, said ..." (Baltimore Sun)
IRS Approves Another Top Hat/401(k) Wrap Arrangement
Excerpt: "The Internal Revenue Service ('IRS') has again approved a top hat/401(k) 'wrap' arrangement. In a typical wrap arrangement, a participant affirmatively elects to participate in both a nonqualified plan and a 401(k) plan. The election takes place no later than December 31 of the year preceding participation. The election designates both the desired deferral into the nonqualified plan and the deferral amount to be transferred into the 401(k) plan." (EBIA Weekly)
Press Release - Portman-Cardin Retirement Security Bill Sails Through House Workforce Committee
The passage by the House Education & the Workforce Committee follows by only a day the passage by the House Ways & Means Committee. (House Education & the Workforce Committee)
Welcome to new BenefitsLink advertiser Carlson Search Associates, Inc.
'Carlson Search Associates, Inc. is a full service executive recruiting firm that specializes in the recruitment and placement of experienced individuals in the 401(k) retirement plan industry. We work with junior and senior level executives with backgrounds in recordkeeping, compliance, plan implementation, operations management, customer service and relationship management. We have extensive experience placing individuals in sales positions as well including outside and inside wholesalers."
Former Spouse Designated as Beneficiary Loses Out on Post-Egelhoff Decision
Weaver v. Keen (Tex. App. 2001). Excerpt: "... it seems to us unlikely that the Egelhoff court, had it been faced with the issue, would have approved of the use of federal common law in this circumstance. If, under Egelhoff, plan administrators are to rely on ERISA and the plan documents to determine who is the beneficiary, then there is no 'gap' to be filled and thus no need to apply federal common law." (EBIA Weekly)
Fewer Companies Offering Pensions to Board Members
Excerpt: "The number of companies offering pension plans to members of their boards has plunged during the past two years, from 42 percent to 12 percent ..." (StarTribune.com)
Focusing on Retirement Needs: the Period After Retirement (PDF)
Excerpt: "Plan sponsors, employee benefit and financial professionals need to begin offering additional retirement plan distribution options, education, advice, and financial products in order to better help employees manage their retirement through changing key post-retirement events." (Anna M. Rappaport, FSA, MAAA, published by International Foundation for Retirement Education)
Before Investing in Newly Offered S or I Funds, Consider These Questions
Excerpt: "Tomorrow, the Thrift Savings Plan will offer two new investment funds, the first additions to the Thrift Savings Plan since it began in 1987. The advent of the new funds provides federal employees with the opportunity to review their financial plans and rethink their stock market strategies. The new investment choices are the Small Capitalization Stock Index Investment Fund, called the S Fund, and the International Stock Index Investment Fund, or I Fund." (Washington Post)
Pension Reform Progress: Ways and Means Committee Votes YES
Excerpt: "The House Ways and Means Committee, under the leadership of Senator Bill Thomas,(R-California), made pension reform one step closer to reality this week. With unanimous support from the Republican members of the committee and all but 6 Democrat members, the Committee voted 35-6 in favor of the bill." (Greg Hanna's Retirement Planning site on About.com)
IRS Publishes Free Email Newsletter for Benefits Practitioners
Excerpt: "The Employee Plans News is issued periodically during the year with retirement plan information from the offices of Employee Plans ... Sign-up for the Employee Plans News and you'll get information such as: Details on upcoming EP Benefits Conferences; What's new on the IRS Web Site for Retirement Plans; Information on (as well as links to) Recently Published Guidance; Information on current EP Determination and Examination activities." (Internal Revenue Service)
Participants Say Statements Should Be Short, Simple (PDF)
Excerpt: "T. Rowe Price recently conducted a national study of 21 retirement plan sponsors and participants representing 230,000 workers and retirees, and found that participants aren't interested in the 'fluff' and extra expense associated with some statements." (International Foundation for Retirement Education)
Spring 2001 Edition of IRS' Employee Plans News (PDF)
Excerpt: "Message From Evelyn A. Petschek, Commissioner, Tax Exempt & Government Entities (TE/GE) Division: I am excited to unveil the first edition of the Employee Plans News to the employee plans practitioner community. This newsletter is one of the ways in which we will keep you informed of the latest developments in our programs." (Internal Revenue Service)
Newly Posted or Renewed Job Openings ( Post Yours! )
for CBIZ Retirement Services Inc.
in NY
in NY
for Independent 401(k) Advisory Firm in Harrisonburg, Virginia
in VA
in VA
for WESPAC Plan Services, Inc.
in CA
in CA
for Towers Perrin
in NJ, VA
in NJ, VA
for GF Pension Corp.
in NJ, PA
in NJ, PA
for JLR & Associates LLC; Health Insurance Services
in WA
in WA
for LegalWise
in FL
in FL
for The Ross Companies
in NY
in NY
Newly Posted Conferences ( Post Yours! )
in ALL STATES
on May 3, 2001
presented by McKay Hochman Co., Inc.
presented by McKay Hochman Co., Inc.
in ALL STATES
on May 1, 2001
presented by McKay Hochman Co., Inc.
presented by McKay Hochman Co., Inc.
Subscribe to the Welfare Plans Edition, too (click)
Copyright 2001 BenefitsLink.com, Inc.
You may freely distribute this email newsletter in whole.
Click here to learn how your company can sponsor a future issue!
BenefitsLink is a registered trademark of BenefitsLink.com, Inc., published by Dave Baker with much help from Mary Hall and lots of friends.
We're proud of our privacy policy .
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/