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The BenefitsLink Newsletter -
Retirement Plans Edition


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August 17, 2000

Stocks in Brokerage Accounts Add Some Spice to Plain-Vanilla 401(k) Plans
Excerpt: "Employers are competing for workers in this low-unemployment economy, so they are more willing to listen when employees ask for the option of a brokerage account from which to trade stocks and bonds. Employees typically can invest up to half of their 401(k) in stocks through a designated brokerage." (U.S. News)

More 401(k)s Have Brokerage Option
Excerpt: "Company 401(k) plans traditionally have allowed participants to pick investments from a limited list of mutual funds. But plan sponsors increasingly are adding what's known as a 'self-directed brokerage option' that lets workers use some of their retirement savings to buy stocks or to invest in mutual funds that aren't on the sponsor's core list. A recent study ... found that about 15 percent of 401(k) plans now include a brokerage option..." (New York Times; free registration required)

Teachers' Pension Fund Coalition Questions Effect of Proposed Social Security Number Privacy Law
Excerpt: "... the use of SSANs, both in the normal course of business correspondence, telephone conversations, and increasingly with email, is the best method of ensuring the proper identity of those to whom we must provide critical and timely services. When coupled with other identifiers, identification by SSAN serves to protect a plan participant's account." (National Council on Teacher Retirement)

ACLI Clashes With NASD Over Non-Cash Compensation Rules
Excerpt: "The American Council of Life Insurers is opposing an attempt by the National Association of Securities Dealers to shortcut the self-regulatory approval process regarding variable contracts that fund qualified retirement plans... At issue is whether NASD has the authority to apply its non-cash compensation rules to the sale of unregistered variable contracts that fund qualified retirement plans." (National Underwriter Company)

House Passes Bill To Repeal 1993 Increase In Tax On Social Security Benefits
Excerpt: "By a vote of 265-159, the House has passed H.R. 4865, the Social Security Benefits Tax Relief Act of 2000. Specifically, the bill would amend IRC Sec. 86 to repeal the increase in income tax on Social Security benefits enacted by the Omnibus Budget Reconciliation Act of 1993." (Spencernet)

Public Companies with Broad-Based Stock Options: Corporate Performance from 1992-1997
Excerpt: "This report compares the performance of corporations that offer their employees broad-based stock option plans to those that do not offer their employees broad-based stock option plans." (National Center for Employee Ownership)

Welcome to new BenefitsLink advertiser Dietrich & Associates, Inc.
For more than 15 years Dietrich & Associates has specialized in providing group single premium annuity contracts to defined benefit pension plan sponsors (or their advisors) in pension plan termination and plan settlement situations. Having worked with over 1,000 plan sponsors in placing over $ 3 Billion in annuity contracts, Dietrich & Associates is among the largest and most experienced firms specializing in this market today.

(Following also appears in Welfare Plans Edition)

Cheney Officially Collects Hefty Early-Out Package from Texas Oil Company
Excerpt: "The estimated value of his retirement package ranges from nothing to $13.7 million, depending on who is doing the interpreting. 'Zero,' said Gary Morris, the corporation's chief financial officer, when asked about the retirement package's value. 'Everything he is taking away, he earned while he was employed here.'" (Knight-Ridder / Tribune Business News)

Halliburton Press Release on Terms of Dick Cheney's Departure
Excerpt: "Halliburton Company ... announced the following terms relating to Dick Cheney's departure from the company which were approved by its board of directors in a special meeting held on July 25, 2000." (PR Newswire, via news.excite.com)

In Retirement Deal, Cheney Could Keep Options in Office
Excerpt: "Mr. Cheney has previously said that he would sell his stake in Halliburton before he takes office, assuming the Republicans win the presidency. But under Halliburton's stock option plan, Mr. Cheney would not be allowed to sell the options, which cannot be transferred except on death." (New York Times; free registration required)



Job Openings Newly Posted or Reposted on EmployeeBenefitsJobs.com


Sr. Actuarial Analystfor Aon Consulting, Inc.
in PA
Pension Administratorfor Philips Electronics - Personal Access Center for Employees (PACE)
in FL
Pension Systems Supervisor - Palm Beach Gardens, Floridafor Philips Electronics - Personal Access Center for Employees (PACE)
in FL
Daily Valuation Administratorfor WESPAC Plan Services, Inc.
in CA
Account Manager –Internet Benefitsfor ClearBenefits.com
in CA
Client Relationship Managerfor Fidelity Investments
in TX
ERISA Specialist / Legalfor Fidelity Investments
in TX
Pension Analystfor Mutual of Omaha Insurance Company
in NE
Retirement Plans Service Repfor Mutual of Omaha Insurance Company
in CA, IL, MN

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