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
Jobs | Today's Messages | Topical News | Q&A Columns | Services & Products | Search | Reference
March 7, 2002 - 12,334 subscribers
Today's sponsor: ASPA
(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)
Kennedy Bill Limits Company Stock in 401(k) Plans Unless Defined Benefit Plan Also Maintained
(BNA Daily Labor Report via Society for Human Resource Management)
Democrats' Bills Would Require Employee Participation on Retirement Plan Committees
(Knight Ridder Washington Bureau via Society for Human Resource Management)
List of Witnesses and Written Statements Provided to March 5 House Oversight Subcommittee Hearing
Hearing on 'Employee and Employer Views on Retirement Security.' Witnesses include James A. Klein, American Benefits Council; Scott J. Macey for the ERIC; Gene E. Little for NAM; Craig Hoffman for ASPA; Richard Trumka, AFL-CIO; Dary Ebright, IBEW Local 125; Deborah G. Perrotta formerly with Enron Corporation; Cecil Ursprung, Reflexite Corporation; Delores L. Thomas for the ESOP Association; Karen York for the ESOP Association. (U.S. House of Representatives, Committee on Ways and Means, Subcommittee on Oversight)
Mellon Liberalizes Company 401(k)
Excerpt: "[I]n late February ... Mellon CEO Martin McGuinn announced changes that enable employees to trade company stock more freely. One move will allow employees to trade all of the Mellon 401(k) shares contributed to their plans before January 1, 2000. Previously, company matching stock couldn't be sold until employees turned 55." (CFO.com)
Pensions: Time To Grow Up
Excerpt: "Pension systems in rich countries are not working properly. They need a radical overhaul, argues Paul Wallace.' Click the 'next article' link at the end of the article to view more pension-related articles, from the February 14, 2002 issue. (The Economist)
The Aging of Aquarius: the Baby Boom Generation Matures (PDF)
Excerpt: "The impact of the aging of the Aquarius generation is likely to be varied and widespread. Several possibilities are noted briefly ... Continued improvements in longevity will have implications for the cost of retirement benefits because pensions are payable over longer periods.... Health plans that cover retirees may find their costs rising dramatically." (The Segal Company)
Another Question is Answered in the Correcting Plan Defects Q&A Column
Under the Voluntary Compliance Program ("VCP"), can an extension of the 150-day compliance period be granted after a compliance statement has been issued? (BenefitsLink.com)
Federal Thrift Board Proposes Rules On Employee Elections To Contribute To the TSP
The Federal Retirement Thrift Investment Board has issued proposed regulations concerning employee elections to contribute to the Thrift Savings Plan (TSP). The Federal Retirement Thrift Investment Board administers the TSP, which is a tax-deferred retirement savings plan for federal employees similar to a 401(k) cash or deferred arrangement. In 1994, the board published final regulations concerning the procedures governing employee contributions to the TSP. (Spencernet)
Illinois Proposal Would Start Officials' Pensions Before Retirement
Excerpt: "[O]pponents ... scoff at the notion that this deal would end up saving the taxpayers money. They note that those who draw their pensions before retirement are going to receive it for more years than they would otherwise.... [Proponents say the] measure would provide an incentive for qualified, experienced officials to stay on the job." (Chicago Daily Herald via Yahoo! News)
Opinion: Anti-Company Stock Legislation
In the latest installment of his regular column on the NCEO's Web site, attorney David Johanson offers his view on the current wave of post-Enron legislation that proposes to more strictly control the use of company stock in employee benefit plans. (National Center for Employee Ownership)
The Perils of Misallocating Plan Costs
Excerpt: "The Department of Labor is scrutinizing the expenses that pension plan sponsors pass on to plans and participants. Companies are paying huge assessments when the DOL rules that a cost charged to a plan is inappropriate. Here are some compliance guidelines." (BusinessFinanceMag.com)
Commentary: Retirement Plans-- Let's Clear the Maze
Excerpt: "Plenty of evidence suggests that instead of -- or at least in addition to -- a marketing blitz, what average Americans need to make adequate financial preparations for retirement is a system they can understand with a reasonable amount of effort." (Business Week)
Newly Posted or Renewed Job Openings -
Newly Posted Conferences ( Post Yours! )
Copyright 2002 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
March 7, 2002 - 12,334 subscribers
Today's sponsor: ASPA
(Click on company name or banner to learn more.)
How valuable is the knowledge your staff will acquire from ASPA's exclusive QKA training program? Actually, it's invaluable. Administrators and record keepers who have completed the program say they tap these resources on a daily basis. The most comprehensive 401(k) training program available, QKA helps professionals improve competence and efficiency, while minimizing costly mistakes. QKA from ASPA-- the 401(k) investment that always pays big dividends. Click on the banner above or visit http://www.asppa.org/qka/n20c/index.html for more information.
(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)
Kennedy Bill Limits Company Stock in 401(k) Plans Unless Defined Benefit Plan Also Maintained
(BNA Daily Labor Report via Society for Human Resource Management)
Democrats' Bills Would Require Employee Participation on Retirement Plan Committees
(Knight Ridder Washington Bureau via Society for Human Resource Management)
List of Witnesses and Written Statements Provided to March 5 House Oversight Subcommittee Hearing
Hearing on 'Employee and Employer Views on Retirement Security.' Witnesses include James A. Klein, American Benefits Council; Scott J. Macey for the ERIC; Gene E. Little for NAM; Craig Hoffman for ASPA; Richard Trumka, AFL-CIO; Dary Ebright, IBEW Local 125; Deborah G. Perrotta formerly with Enron Corporation; Cecil Ursprung, Reflexite Corporation; Delores L. Thomas for the ESOP Association; Karen York for the ESOP Association. (U.S. House of Representatives, Committee on Ways and Means, Subcommittee on Oversight)
Mellon Liberalizes Company 401(k)
Excerpt: "[I]n late February ... Mellon CEO Martin McGuinn announced changes that enable employees to trade company stock more freely. One move will allow employees to trade all of the Mellon 401(k) shares contributed to their plans before January 1, 2000. Previously, company matching stock couldn't be sold until employees turned 55." (CFO.com)
Pensions: Time To Grow Up
Excerpt: "Pension systems in rich countries are not working properly. They need a radical overhaul, argues Paul Wallace.' Click the 'next article' link at the end of the article to view more pension-related articles, from the February 14, 2002 issue. (The Economist)
The Aging of Aquarius: the Baby Boom Generation Matures (PDF)
Excerpt: "The impact of the aging of the Aquarius generation is likely to be varied and widespread. Several possibilities are noted briefly ... Continued improvements in longevity will have implications for the cost of retirement benefits because pensions are payable over longer periods.... Health plans that cover retirees may find their costs rising dramatically." (The Segal Company)
Another Question is Answered in the Correcting Plan Defects Q&A Column
Under the Voluntary Compliance Program ("VCP"), can an extension of the 150-day compliance period be granted after a compliance statement has been issued? (BenefitsLink.com)
Federal Thrift Board Proposes Rules On Employee Elections To Contribute To the TSP
The Federal Retirement Thrift Investment Board has issued proposed regulations concerning employee elections to contribute to the Thrift Savings Plan (TSP). The Federal Retirement Thrift Investment Board administers the TSP, which is a tax-deferred retirement savings plan for federal employees similar to a 401(k) cash or deferred arrangement. In 1994, the board published final regulations concerning the procedures governing employee contributions to the TSP. (Spencernet)
Illinois Proposal Would Start Officials' Pensions Before Retirement
Excerpt: "[O]pponents ... scoff at the notion that this deal would end up saving the taxpayers money. They note that those who draw their pensions before retirement are going to receive it for more years than they would otherwise.... [Proponents say the] measure would provide an incentive for qualified, experienced officials to stay on the job." (Chicago Daily Herald via Yahoo! News)
Opinion: Anti-Company Stock Legislation
In the latest installment of his regular column on the NCEO's Web site, attorney David Johanson offers his view on the current wave of post-Enron legislation that proposes to more strictly control the use of company stock in employee benefit plans. (National Center for Employee Ownership)
The Perils of Misallocating Plan Costs
Excerpt: "The Department of Labor is scrutinizing the expenses that pension plan sponsors pass on to plans and participants. Companies are paying huge assessments when the DOL rules that a cost charged to a plan is inappropriate. Here are some compliance guidelines." (BusinessFinanceMag.com)
Commentary: Retirement Plans-- Let's Clear the Maze
Excerpt: "Plenty of evidence suggests that instead of -- or at least in addition to -- a marketing blitz, what average Americans need to make adequate financial preparations for retirement is a system they can understand with a reasonable amount of effort." (Business Week)
Newly Posted or Renewed Job Openings -
for Means & Associates, LLC
in CA
in CA
for Louis Kravitz & Associates, Inc.
in CA
in CA
for Retirement Funding
in MI
in MI
for U. S. Department of Labor - PWBA
in DC
in DC
for CitiStreet, Total Benefits Outsourcing
in FL
in FL
for Transamerica
in CA
in CA
for Block Consulting Actuaries, Inc.
in CA
in CA
for Segal Company
in CA
in CA
for Black Mountain Management, Inc.
in NY
in NY
for Transamerica
in CA
in CA
for Transamerica
in CA
in CA
Newly Posted Conferences ( Post Yours! )
in FL
on June 9, 2002
presented by SPARK (Society of Professional Administrators and Recordkeepers)
presented by SPARK (Society of Professional Administrators and Recordkeepers)
Subscribe to the Welfare Plans Edition, too (click)
Copyright 2002 BenefitsLink.com, Inc., but you may freely distribute this email newsletter in whole. This newsletter is edited by David Rhett Baker, J.D.
- How to Sponsor an Issue : reach 12,334 benefits professionals!
- How to Subscribe
- Privacy Policy
- Archive of Prior Issues