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    BenefitsLink
    Retirement Plans
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    April 3, 2003 - 13,076 subscribers
    Today's sponsor: The Profit Sharing/401(k) Council of America

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    House Approves Bill Ending Social Security Boon for Texas Teachers
    Excerpt: "The House passed legislation yesterday to end a Social Security practice that allowed some government workers to receive increased retirement benefits. Texas Democrats said the bill was a hardship for their state's teachers." (Washington Post)

    House-Passed Bill Would Increase FDIC Limits for Bank Savings Accounts
    Excerpt: "Legislation that would raise the limit on deposit insurance coverage passed the House on Wednesday, despite opposition from Federal Reserve Chairman Alan Greenspan." (AP via Washington Post)

    Senate Votes to Reduce Funding for U.S. Postal Service Pension Plan
    Excerpt: "The pension contributions can be reduced without hurting current and future retirees, supporters say, because an Office of Personnel Management analysis last year showed that the Postal Service was on course to overfund its pension obligations by $71 billion." (Washington Post)

    French Transport Crippled by Strike Over Pensions
    Excerpt: "The strikes come as the conservative government prepares to unveil plans on April 11 to overhaul France's pay-as-you-go pension system, creaking under the weight of an aging population." (New York Times; one-time registration required)

    Ex-Worker at Indiana State Pension Fund Indicted for Misuse of Participant Data
    Excerpt: "Stone was charged with stealing more than $22,500 from accounts of pension fund members. She also is accused of stealing the identities of seven fund members and one other person to open lines of credit and charge nearly $26,500 at seven Indianapolis businesses." (The Indianapolis Star)

    Employee Ownership Update for April 2, 2003
    NCEO Executive Director Corey Rosen discusses an IRS announcement that it is developing guidance to crack down on S corporation ESOP structures involving management corporations. In other news, studies of the impact of stock option expensing do not seem to indicate that expensing will hurt stock price. (National Center for Employee Ownership)

    Avoiding Retirement Rage Over Your Company's 401(k) Plan
    Excerpt: "Why do employees file lawsuits over their 401(k) plans? Extended blackout periods, perceived conflicts of interest -- or maybe they're just mad at the markets. Here's how to keep your company in the clear." (CFO.com)

    The Dealings of Madame X: How a CFO Can Cause 401(k) Liability for Her Company
    Excerpt: "[O]ur imaginary CFO could be setting herself up for a day in court by using her company's retirement plan as a bargaining chip, says Ann Longmore, an insurance broker who offered up the hypothetical case. 'Tacitly threatening to move [a 401(k) plan] elsewhere if we don't get good rates on a loan,' is a prohibited transaction under the Employee Retirement Income Security Act of 1974 (ERISA), says Longmore, a senior vice president with Willis Group in New York City." (CFO.com)

    CFO.com Publishes Online Guide to 401(k) 'Providers'
    Excerpt: "This year's guide offers a single alphabetical list of providers that offer full service, investment-only services, recordkeeping-only services, or some combination. The first half of the list, published in the April 2003 issue of CFO magazine, appears on the pages that follow; the second half will be available next month, with the publication of the May issue of CFO." (CFO.com)

    CFO.com List of 401(k)-Related Government Agencies
    April 2003. (CFO.com)

    CFO.com List of 401(k)-Related Resources on the Web for Employees
    April 2003. (CFO.com)

    CFO.com List of 401(k)-Related Research Institutes and Think Tanks on the Web
    April 2003. (CFO.com)

    CFO.com List of 401(k)-Related 'Online Investment Advisors'
    April 2003. (CFO.com)

    CFO.com List of 401(k)-Related 'Consultants' on the Web
    April 2003. (CFO.com)

    CFO.com List of 401(k)-Related Associations on the Web
    April 2003. (CFO.com)

    Newly Posted or Renewed Job Openings
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    Newly Posted Conferences
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    Plan Compliance and Corporate Governance: Issues and Solutions
    in CA
    April 24, 2003
    Western Pension & Benefits Conference - Orange County Chapter

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