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March 20, 2003 - 13,088 subscribers
Today's sponsor: Actuarial Systems Corporation
(Click on company name or banner to learn more.)
ASC - QUALITY SOFTWARE FOR THE PENSION INDUSTRY FOR OVER 20 YEARS ASC provides complete automation for the pension office, including: DC/401(k) and DB administration and valuation systems, sophisticated Compliance Testing, DV Direct Daily Valuation, Advanced Information Manager Database (AIM), and Single-Step Processing. All ASC Technical Support Members were experienced Pension Administrators or Actuaries before joining ASC -- and most have been with ASC for over 10 years.
(Please visit our sponsors. We try to make sure their products and services will be of interest to you. Thanks! --Editor)
Paying ERISA Plan Expenses Out of Plan Assets
Attorney David Johanson discusses how assets of ERISA plans such as employee stock ownership plans (ESOPs) and 401(k) plans can be used to pay plan expenses, including applicable guidance from the U.S. Department of Labor. (National Center for Employee Ownership)
Society of Actuaries Issues Call for Papers: Managing Retirement Assets for Longevity, Other Risks
Excerpt: "This Call for Papers addresses ways to manage mortality/longevity risks and uncertainties using traditional solutions or innovative new approaches. It is addressed to all professionals knowledgeable and interested in these topics. Authors do not need to be members of the Society of Actuaries.... We hope for the development and sharing of ideas by our members and other professionals." (Society of Actuaries)
3M to Fully Fund its Pension Plan Despite Shortfall
Excerpt: "Despite a $1.1 billion infusion last year, 3M Co.'s pension plan ... is $2.1 billion in the red ... However, the company says it intends to fully fund the plan, and industry observers say 3M's solid financial position is reason for optimism. '3M is doing it right, they're making up those pension benefits that need to go in,' said Karen Friedman, director of policy strategies at the Pension Rights Center ..." (The [Saint Paul] Pioneer Press via NewsAlert.com)
Trend is for Retirement Plan Calculators to Use Monte Carlo Simulation
Excerpt: "For 401(k) advice, Monte Carlo randomly generates hundreds or thousands of possible values for key variables such as investment returns, inflation and interest rates. A statistical trend emerges to represent a range of probable investment outcomes, based on a participant's investments, contribution rate and desired retirement age." (BenefitNews.com)
An Interview with the California State Treasurer About Pension Fund Investment Policies
Excerpt: "[Phil] Angelides, elected in November to his second term as California's state treasurer, has become an ardent activist as a board member of both the California Public Employees' Retirement System (CalPERS) and the California State Teachers' Retirement System (CalSTRS). The two funds have very influential voices: CalPERS stands as the nation's largest pension fund with $128.5 billion in assets, and CalSTRS ranks third with $91.3 billion in assets." (PLANSPONSOR Magazine; registration required)
Opinion: Latest Trustees' Report Is a Boost for Reform of Social Security
March 17, 2003. Excerpt: "The new Annual Report of the Social Security Board of Trustees will be out this morning. For many years now, these official government reports have made a powerful case for fundamental Social Security reform, and today's report will add further to that case." (Washington Times)
Links to Items on Executive Comp, Benefits in General
The Search Engine is Dead! Long Live the Search Engine!
Details about the new search engine on the BenefitsLink web site. (BenefitsLink)
House Bill Would Block Push to Expense Stock Options
Excerpt: "Silicon Valley companies are rallying behind legislation to be introduced today that would block for at least three years any efforts to require companies to count stock options as an expense on their books." (The [San Jose, Calif.] Mercury News via TimesLeader.com)
Newly Posted or Renewed Job Openings
Actuarial Analyst
for Northern Trust Retirement Consulting, L.L.C.
in WA
Plan Administrator
for Professional Pension Partners, LLC
in MI
Retirement Plans Manager
for Exult, Inc.
in NC
Independent Investment Representatives-- Retirement & Investment Counselors
for NEBSonline, Inc.
in CA
Institutional Sales
for Fifth Third Bank
in IN, MO
Newly Posted Press Releases
(Post Yours!)
National Education Firm Exposes National Lender As Benefits Provider
(Financial Strategies)
Evolution Health Exec Reprises Appearance at Healthcare Web Summit: Defined Care 2003
(Evolution Benefits)
Handy Links:
- View Today's Active Message Threads
- Search BenefitsLink
- Using the Web for Employee Benefits Research
- Employee Benefits Library
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