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Retirement Plans
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March 26, 2004 - 13,655 subscribers
Today's sponsor: Financial Research Associates, LLC

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STARS & STRIPES ’04 Summit
The 2004 National Public Employees’ Retirement Funds Summit
July 18-20, 2004 * Disney’s Yacht & Beach Club, Orlando, FL
To register call 800-280-8440 or visit www.frallc.com
General Highlights:
* A Closed-Door/Private Public Fund Exchange
* Enhanced Asset Allocation & Diversification in Today’s Economy
* Effectively Valuing A Fund’s Liabilities
* Managing a Mature Fund Versus a New Plan
* Corporate Governance, Late Trading & Market-Timing Scandals

(Please visit our sponsors. We try to make sure their products and services will be of interest to you. Thanks! --Editor)
Pension Funding Bill Negotiations Break Down
Excerpt: "House-Senate negotiations on a major pensions relief bill broke down Friday, putting at risk legislation that could save employers billions of dollars in contributions to their pension plans over the next two years." (Washington Post; one-time registration required)

Details on Pension Funding Relief Bill Divide Conference Committee Negotiators
Excerpt: "House and Senate negotiators yesterday continued to struggle without reaching agreement on a measure that could provide more than $80 billion in funding relief for the nation's troubled private pension system over two years." (Washington Post; one-time registration required)

Overview: 401(k) Plan Compensation Issues
Excerpt: "One of the more difficult issues a 401(k) plan administrator faces is determining the proper compensation definition for purposes of contribution allocations and for testing. For purposes of making elective deferrals and allocating matching contributions, the employer is not required to select a nondiscriminatory definition of compensation." (SunGard Corbel)

Europe's Pension Problem: Too Few Cradles, Too Few Graves
Excerpt: "Population trends are forcing drastic reforms in Europe, including reducing people's benefits." (Business Week)

Key Pension Funds Try to Oust Safeway CEO
Excerpt: " A group of public pension funds is banding together in an attempt to oust Safeway Inc.'s embattled chief executive, Steve Burd, and two fellow directors - asserting the supermarket chain needs to clean house to snap out of a prolonged slump." (AP via Washington Post; one-time registration required)

Current Retirement Plan Challenges: Employer Perspectives 2003
Excerpt: "In October 2003, Hewitt Associates surveyed employers to gauge their reaction to recent events affecting retirement plans and to learn their views on the future offerings of retirement benefits. Responses from more than 200 employers were received." (Hewitt)

Wretched Retirement Realities
Excerpt: "As much as retirement is a 'lifestyle,' it all comes down to numbers: how much do you save, how much do your investments return, and how much income will your nest egg provide. Will your numbers add up to a full-figured retirement?" (The Motley Fool; one-time registration required)

Text of Portman-Cardin Letter to SEC on Proposed 4 p.m. Hard Close
Excerpt: "Representatives Rob Portman (R-OH) and Ben Cardin (D-MD) on March 24 expressed their concerns over the SEC's proposed rule that would create a hard 4:00 p.m. close on retirement plan investors. The letter to SEC Chairman Donaldson was signed by eleven prominent members of the House (six Republicans and five Democrats)." (Via ERISA Industry Council)

Links to Items on Executive Comp, Benefits in General

Text of Notice 2004-28: IRS Identifies Frivolous Arguments About Compensatory Stock Options (PDF)
7 pages. Excerpt: "The Internal Revenue Service is aware that certain promoters are advising taxpayers to take highly questionable, and in most cases meritless, positions, described below, on current and amended returns regarding income or alternative minimum tax ('AMT') due upon the exercise of nonstatutory or statutory stock options. This Notice alerts taxpayers that the Service intends to challenge such positions and will treat them as frivolous in appropriate cases." (Internal Revenue Service)

Tyco Shareholders Vote Down Limits on Executive Pay
Excerpt: "The proposal to hold executive salaries and bonuses to a maximum of $1 million each per year and to limit other compensation drew only about 5 percent of the votes. The board opposed it, saying the move would hurt Tyco's ability to attract top talent." (AP via Washington Post; one-time registration required)

Opinion: the Socialsecurityandmedicare Muddle
Excerpt: "It has become standard practice among privatizers to talk as if there is some program called Socialsecurityandmedicare. They hope to use scary numbers about future medical costs to panic us into abandoning a retirement program that's actually in pretty good shape." (Paul Krugman in the New York Times; one-time registration required)

Newly Posted Events

Coverage – It Doesn't Get More Fundamental
Nationwide on April 20, 2004
presented by SunGard Corbel

Fair is Fair, But Complicated - Nondiscrimination Testing
in Florida on May 11, 2004
presented by SunGard Corbel

Administrative Slip-Ups and Solutions
in California on April 22, 2004
presented by Western Pension & Benefits Conference - Orange County Chapter

2004 Spring Conference
in California on May 20, 2004
presented by Western Pension & Benefits Conference - Orange County Chapter

Consumer-Directed Pharmacy Benefits
in Nevada on June 28, 2004
presented by International Quality & Productivity Center (IQPC)

Certificate Series in Health Care Cost Management
in Wisconsin on June 28, 2004
presented by International Foundation of Employee Benefit Plans

Essentials of Multiemployer Trust Fund Administration
in Wisconsin on June 7, 2004
presented by International Foundation of Employee Benefit Plans

Trustees and Administrators Institutes
in Nevada on June 14, 2004
presented by International Foundation of Employee Benefit Plans

Benefit Plan Professionals Institute
in Nevada on June 14, 2004
presented by International Foundation of Employee Benefit Plans

Certificate Series in Health Benefit Plan Basics
in Wisconsin on June 22, 2004
presented by International Foundation of Employee Benefit Plans

Certificate Series in Choice-Based Benefits
in Wisconsin on June 24, 2004
presented by International Foundation of Employee Benefit Plans
Newly Posted Press Releases

David W. Johnston Joins BEAMS Software, Inc. as Director of Sales
(BEMAS Software, Inc.)
Newly Posted or Renewed Job Openings
Post a Help Wanted Ad

Senior Pension Administrator
for Retirement Alliance, Inc.
in NH

Pension Consultants/Administrators
for Pension Management Consultants, Inc.
in NY

Employee Benefits Attorney
for Leading Business Law Firm in Mid-Atlantic Region
in PA

Employee Benefits Tax Manager or Heavy Senior
for Deloitte
in NC

Employee Benefits Regional Sales Manager
for Omni Employee Benefit Consultants, LLC
in FL

Operations Specialist
for PenCal Administrators, Inc.
in CA

Benefits Manager (Service Delivery Manager)
for Towers Perrin
in VA

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