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The BenefitsLink Newsletter -
Retirement Plans Edition

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May 26, 2000

Same Desk Rule Prevents 401(k) Distributions to Outsourced Employees
Describing IRS Priv. Ltr. Rul. 200019048 (Feb. 18, 2000). (EBIA Weekly)

Governor Slams Double-Pay for Massachusetts Teachers: Could Collect Pension Plus Salary
Excerpt: "Thousands of Bay State teachers may soon qualify for the equivalent of a two-year paid vacation, after which they could return to the classroom and collect a tax-free pension on top of their regular salary." (Boston Herald)

Description of Chmn. Archer's Substitute Amendment to 'The Death Tax Elimination Act of 2000' (PDF)
Excerpt: "This document, prepared by the staff of the Joint Committee on Taxation, provides a description of the modifications to H.R. 3081, the 'Death Tax Elimination Act of 2000,' contained in an amendment in the nature of a substitute proposed by Chairman Bill Archer. The House Committee on Ways and Means is scheduled to mark up the bill on May 25, 2000." (Joint Committee on Taxation)

Participate in Reish & Luftman's Online Survey Of Self-Correction Of Plan Defects
Excerpt: "If you have self-corrected (as a plan sponsor) or advised a client on self-correction (as an advisor to a plan) of an operational failure (a "disqualifying defect") under the Administrative Policy Regarding Self-Correction (APRSC), please complete this survey." (Reish & Luftman)

GUST Amendments Checklist
Excerpt: "Pursuant to Rev. Proc. 99-23, sponsors of 401(k) plans (and other qualified plans) generally have until the last day of the first plan year beginning on or after January 1, 2000 to amend their plans to comply with recent changes in the law. These changes are often referred to as the 'GUST' amendments." (Perkins Coie LLP)

That Old Social Security Magic
Excerpt: "Bush and Gore's amazing plans to help the nation's most popular federal program are all gain, no pain." (Newsweek)

Cato Institute Study Calls for Privately Invested Accounts in Lieu of Traditional Social Security
Excerpt: "Instead of saving Social Security, we should begin the transition to a new and better retirement system based on individually owned, privately invested accounts." (Cato Institute)

Dot Com Stock-Option Nightmare
Excerpt: "What's happened is that some dot-com option-holders have had to pay more money in taxes to the IRS than they could hope to make selling shares of their deflated stock in the public markets. This is the ugly fine print of the options culture." (Fortune)

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