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October 20, 2003 - 13,400 subscribers
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“How to Conduct Successful Workplace Investigations” A 90-Minute Interactive Audio Conference – Tuesday, November 11, 2003 * 2:00 p.m. Eastern Time During this 90-minute interactive presentation, specialists in the field of workplace investigations will cover important topics such as: the proper role of the investigators in conducting internal investigations and the standards applicable to internal investigations, confidentiality, appropriate investigative procedures and more. Register today!
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Vendors Offer 401(k) Hand-Holding
Excerpt: "Recognizing that as many as half the nation's workers are 'reluctant investors' who want little to do with managing their retirement accounts, the financial-services industry is rushing into the $1.7 trillion 401(k) market with services that cater to workers who save too little, invest poorly and ignore their portfolios for years at a time." (The [San Jose] Mercury News)
Municipal Pensions in West Virginia Underfunded by Half a Billion
Excerpt: "West Virginia's cities and towns have racked up a $511 million deficit in their pension plans for police officers and firefighters, an actuary told state legislators Sunday.... Most of the state's towns with pension problems are already increasing how much they put into these pension funds by 7 percent a year. But they should add another 3.5 percent increase every year, said Alex Rivera, an actuary with Gabriel, Roeder, Smith & Co." (The Charleston [W. Va.] Gazette)
Private Pensions: a System Going Under?
Excerpt: "[T]he sky is falling for a good number of American workers. Or the ship is sinking. Or any number of other metaphors for looming disaster, all of them applicable to the state of America's private pension system. The country's entire retirement income structure is being battered by an unprecedented wave of demographic and economic changes." (Washington Post)
The Retirement Plan Funding Debate
Excerpt: "Retirement income, like a life jacket, is pretty dull -- until you need it." (Washington Post)
IRS: Federal Court Won't Disqualify Plan by Collecting Criminal Fine from Participant's Account (PDF)
PLR 200342007 (July 23, 2003). Excerpt: "18 U.S.C. § 3613(c) provides that a fine imposed as part of a criminal sentence pursuant to the provisions of subchapter C of chapter 227 of Title 18 (sections 3571 et. [sic] seq.) or an order of restitution made pursuant to this title is a lien in favor of the United States on all property and rights to property of the person fined as if the liability of the person fined were a liability for a tax assessed under the Internal Revenue Code of 1986." (Internal Revenue Service)
Many Boomers Unprepared For Retirement
Excerpt: "[A]lthough 'Boomers' have had more opportunities, more earning potential, and the most overall wealth of any generation in history. John Rother of the AARP says they are woefully unprepared for the future." (CBSNews.com)
Sweden's Private Pension System Gets a Jolt
Excerpt: "Sweden's new state pension system has received accolades as a model for other countries across Europe. But its private system is facing a crisis. For decades, generous tax breaks have been used to encourage Swedes to save privately for their retirement. The main products have been mutually-run schemes in which investment profits go to policyholders." (Financial Times via Yahoo! News)
Retirement Effects of Proposals by the President's Commission to Strengthen Social Security
Excerpt: "A structural dynamic model of retirement and saving is used to simulate the retirement effects of proposals made by the President's Commission to Strengthen Social Security." (Working Paper by Alan L. Gustman and Thomas L. Steinmeier)
Germany Plans to Shore Up Public Pension System
Excerpt: "At the heart of the discussions was how to deal with an estimated $12 billion shortfall in the state pension insurance system resulting from fewer people contributing to the system and a planned cut in government funding for it." (Washington Post)
Links to Items on Executive Comp, Benefits in General
2004 Individual Grant Competition Announced
Excerpt: "The Actuarial Foundation's AERF Committee and the Society of Actuaries' Committee on Knowledge Extension Research (CKER) announce the 2004 Individual Grants Competition to support the advancement of knowledge in actuarial science. Grants will be funded through the AERF Committee and CKER.... The AERF Committee gives preference to projects relating to current policy issues or having direct applications, and those that further the basic or continuing education of actuaries." (The Actuarial Foundation; the Society of Actuaries)
Newly Posted or Renewed Job Openings
Director, Benefits Administration
for Mount Carmel Health
in OH
Defined Contribution Analyst
for Standard Insurance Company
in OR
Accountant - Compensation/Benefits
for Road Commission for Oakland County
in MI
Client Services Consultant
for American United Life Insurance Company
in LA, NM, OK, TX
Senior Benefits Counsel
for INTEL at the forefront of technology
in CA
Pension Analyst
for Coble Pension Group, L.L.C.
in AZ
Newly Posted Webcasts
(Post Yours!)
Critical Issues in Establishing Employee Ownership
on October 29, 2003
presented by Beyster Institute
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