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September 6, 2001 - 12,551 subscribers
Today's sponsor: Financial Finesse
(Click on company name or banner to learn more.)
(Help BenefitsLink to provide this newsletter at no charge to you -- our sponsors pay our way. Remember to visit them periodically; we try to make sure their products and services will be of interest to you. Thanks! --Editor)
401(k) Day - a Celebration of Success
Press release. Excerpt: "PSCA has charted 401(k) trends for many years as part of its annual survey of plan practices, and has noted an increase in deferral rates, percentage of assets invested in equities, and use of the Internet in plan administration." (Profit Sharing/401k Council of America; free registration required)
Investment Advisers to Detroit Municipal Pension Fund Contribute to Mayor's Campaign
Excerpt: "William Ecklund, a Minneapolis lawyer who speaks on ethics for the foundation, said of the contributions: 'If this were to go on in the private sector, that would probably be a violation of the Employee Retirement Income Security Act of 1974.' Ecklund said the federal law, known as ERISA, forbids fund managers from providing anything of value to a trustee of a private pension fund. ERISA does not cover public pension funds." (The Detroit Free Press)
Overview: IRS Releases Sample EGTRRA Amendments and Key Effective Date Guidance
Excerpt: "Most defined benefit plans base benefits on annual compensation for a period of years so a critical question is whether plans may apply the $200,000 limit to pre-2002 plan years-- resulting in a potentially significant increase in accrued benefits for 2002. Notice 2001-56 provides the following guidance on this issue ..." (Groom Law Group)
Employers May Need to Consider Alternatives to Traditional Retirement
Excerpt: "[M]ore businesses will need to consider alternatives to traditional retirement as the work force ages and as demand for skilled workers grows. In particular, the concept of 'phased retirement' should be on the agenda, according to [William M. Mercer Inc.]. Phased retirement is 'a gradual transition into retirement,' which allows employers to keep experienced workers on the job, either part time or to fill special roles, while also allowing retirees more work flexibility ..." (Richmond Times-Dispatch via IFEBP)
(Following items are in both editions of the BenefitsLink Newsletter)
Another Question is Answered in the Who's the Employer Q&A Column
Can a recipient organization provide an Incentive Stock Option (ISO) plan to persons who perform services for the recipient organization but are leased from a staffing firm? (BenefitsLink.com)
Another Question is Answered in the Professional Liability Insurance Q&A Column
We received the renewal quote for our third party administrator's professional liability insurance policy. There have been no claims and no other material changes in our practice since our previous renewal, and we were therefore quite surprised to see the renewal premium increase by more than thirty percent. We phoned our broker and the broker explained that the increase is due to insurance market conditions in general. Is this consistent with your experience? (BenefitsLink.com)
District Court Rules Against McDonnell Douglas on ERISA Claims Surrounding Plant Closure
Excerpt: "A judge in a U.S. federal district court ruled in favor of more than 1,000 older McDonnell Douglas workers, finding that the company, now owned by Boeing Co., closed a plant in 1993 to avoid paying pension, health and retiree medical benefits, the Wall Street Journal reported in its online edition Thursday." (Reuters via Yahoo! News)
From Canada: 25th Annual Pension & Benefits Consultants Report
Excerpt: "Total compensation has been discussed in consultant and plan sponsor circles over the past few years. Consultants say it is entrenched in most major U.S. organizations. Now, Canadian employers are starting to walk the talk. They are looking at a variety of rewards--pensions, benefits, salary, vacation, bonuses, stock options--and how organizations pay employees in the broadest sense of the word." (Benefits Canada)
Andersen's U.S. Compensation and Benefits News Briefs: August 20, 2001 Issue
Articles include: 'Final regulations out on domestic vs. foreign trusts; Reduction in back-up withholding rates; IRS invites comments on future of EP determination letters; Vacation cash-out option ruled not to trigger constructive receipt; DOL seeks ERISA Advisory Council nominations; IRS loses more employer-aircraft deduction cases; Senate Health Committee passes mental health bill." (Andersen)
Newly Posted or Renewed Job Openings ( Post Yours! )
Newly Posted Conferences ( Post Yours! )
Newly Posted Press Releases
Copyright 2001 BenefitsLink.com, Inc., but you may freely distribute this email newsletter in whole. This newsletter is edited by David Rhett Baker, J.D.
Jobs | Today's Messages | Topical News | Q&A Columns | Services & Products | Search | Reference
The BenefitsLink Newsletter -
Retirement Plans Edition
Retirement Plans Edition
September 6, 2001 - 12,551 subscribers
Today's sponsor: Financial Finesse
(Click on company name or banner to learn more.)
Thinking about offering stock options education to your employees? Financial Finesse's online seminar called "Understanding Your Stock Options" might be just the solution you need! Purchase by October 31 and get FFAnswers for FREE (a $3,600 value!). See a demo at http://www.financialfinesse.com/business_solutions/online.php To order, call toll-free 1-866-733-2677 or email business_solutions@financialfinesse.com (offer code number EBN002).
(Help BenefitsLink to provide this newsletter at no charge to you -- our sponsors pay our way. Remember to visit them periodically; we try to make sure their products and services will be of interest to you. Thanks! --Editor)
401(k) Day - a Celebration of Success
Press release. Excerpt: "PSCA has charted 401(k) trends for many years as part of its annual survey of plan practices, and has noted an increase in deferral rates, percentage of assets invested in equities, and use of the Internet in plan administration." (Profit Sharing/401k Council of America; free registration required)
Investment Advisers to Detroit Municipal Pension Fund Contribute to Mayor's Campaign
Excerpt: "William Ecklund, a Minneapolis lawyer who speaks on ethics for the foundation, said of the contributions: 'If this were to go on in the private sector, that would probably be a violation of the Employee Retirement Income Security Act of 1974.' Ecklund said the federal law, known as ERISA, forbids fund managers from providing anything of value to a trustee of a private pension fund. ERISA does not cover public pension funds." (The Detroit Free Press)
Overview: IRS Releases Sample EGTRRA Amendments and Key Effective Date Guidance
Excerpt: "Most defined benefit plans base benefits on annual compensation for a period of years so a critical question is whether plans may apply the $200,000 limit to pre-2002 plan years-- resulting in a potentially significant increase in accrued benefits for 2002. Notice 2001-56 provides the following guidance on this issue ..." (Groom Law Group)
Employers May Need to Consider Alternatives to Traditional Retirement
Excerpt: "[M]ore businesses will need to consider alternatives to traditional retirement as the work force ages and as demand for skilled workers grows. In particular, the concept of 'phased retirement' should be on the agenda, according to [William M. Mercer Inc.]. Phased retirement is 'a gradual transition into retirement,' which allows employers to keep experienced workers on the job, either part time or to fill special roles, while also allowing retirees more work flexibility ..." (Richmond Times-Dispatch via IFEBP)
Another Question is Answered in the Who's the Employer Q&A Column
Can a recipient organization provide an Incentive Stock Option (ISO) plan to persons who perform services for the recipient organization but are leased from a staffing firm? (BenefitsLink.com)
Another Question is Answered in the Professional Liability Insurance Q&A Column
We received the renewal quote for our third party administrator's professional liability insurance policy. There have been no claims and no other material changes in our practice since our previous renewal, and we were therefore quite surprised to see the renewal premium increase by more than thirty percent. We phoned our broker and the broker explained that the increase is due to insurance market conditions in general. Is this consistent with your experience? (BenefitsLink.com)
District Court Rules Against McDonnell Douglas on ERISA Claims Surrounding Plant Closure
Excerpt: "A judge in a U.S. federal district court ruled in favor of more than 1,000 older McDonnell Douglas workers, finding that the company, now owned by Boeing Co., closed a plant in 1993 to avoid paying pension, health and retiree medical benefits, the Wall Street Journal reported in its online edition Thursday." (Reuters via Yahoo! News)
From Canada: 25th Annual Pension & Benefits Consultants Report
Excerpt: "Total compensation has been discussed in consultant and plan sponsor circles over the past few years. Consultants say it is entrenched in most major U.S. organizations. Now, Canadian employers are starting to walk the talk. They are looking at a variety of rewards--pensions, benefits, salary, vacation, bonuses, stock options--and how organizations pay employees in the broadest sense of the word." (Benefits Canada)
Andersen's U.S. Compensation and Benefits News Briefs: August 20, 2001 Issue
Articles include: 'Final regulations out on domestic vs. foreign trusts; Reduction in back-up withholding rates; IRS invites comments on future of EP determination letters; Vacation cash-out option ruled not to trigger constructive receipt; DOL seeks ERISA Advisory Council nominations; IRS loses more employer-aircraft deduction cases; Senate Health Committee passes mental health bill." (Andersen)
Newly Posted or Renewed Job Openings ( Post Yours! )
for Louis Kravitz & Associates, Inc.
in CA
in CA
for Clark Bardes/ Compensation Resource Group
in TX
in TX
for Pentec, Inc.
in CT
in CT
for Gwinnett County BOC/Financial Services
in GA
in GA
for The Andrew Jergens Company
in OH
in OH
for Leading Manufacturer of Vitamins, Minerals and Nutritional Supplements
in CA
in CA
for Commerce Bancshares, Inc.
in MO
in MO
for Decimal, Inc. - The Online 401(k)
in CA
in CA
for North Shore-LIJ Health System
in NY
in NY
for Zurich Scudder Investments
in CA
in CA
Newly Posted Conferences ( Post Yours! )
in OR
on October 25, 2001
presented by National Center for Employee Ownership
presented by National Center for Employee Ownership
in TX
on November 6, 2001
presented by National Center for Employee Ownership
presented by National Center for Employee Ownership
in TX
on November 7, 2001
presented by National Center for Employee Ownership
presented by National Center for Employee Ownership
in VA
on October 24, 2001
presented by National Center for Employee Ownership
presented by National Center for Employee Ownership
in WA
on November 8, 2001
presented by National Center for Employee Ownership
presented by National Center for Employee Ownership
in NY
on September 19, 2001
presented by NY Metro Area Chapter - ISCEBS
presented by NY Metro Area Chapter - ISCEBS
in DC
on October 25, 2001
presented by American Bar Association Joint Committee on Employee Benefits and the American College of Employee Benefits Counsel
presented by American Bar Association Joint Committee on Employee Benefits and the American College of Employee Benefits Counsel
in NY
on November 1, 2001
presented by American Bar Association Joint Committee on Employee Benefits and the American College of Employee Benefits Counsel
presented by American Bar Association Joint Committee on Employee Benefits and the American College of Employee Benefits Counsel
in IL
on November 8, 2001
presented by American Bar Association Joint Committee on Employee Benefits and the American College of Employee Benefits Counsel
presented by American Bar Association Joint Committee on Employee Benefits and the American College of Employee Benefits Counsel
in OH
on September 11, 2001
presented by U.S. Department of Labor, Pension and Welfare Benefits Administration and the State of Ohio Department of Insurance
presented by U.S. Department of Labor, Pension and Welfare Benefits Administration and the State of Ohio Department of Insurance
Newly Posted Press Releases
Self-Service FAQ Module Added to Fringe Facts® Online
(Benefit Software Inc.)
ICMA Retirement Corporation to host Web event in September on Retirement Reform Legislation
(ICMA Retirement Corporation)
FamilyEdge Partners with Leading Corporations to Help Working Parents
(Knowledge Kids Network)
Subscribe to the Welfare Plans Edition, too (click)
Copyright 2001 BenefitsLink.com, Inc., but you may freely distribute this email newsletter in whole. This newsletter is edited by David Rhett Baker, J.D.
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