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The BenefitsLink Newsletter -
Retirement Plans Edition


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September 22, 2000

Text of House-Passed Debt Relief and Retirement Security Act, Containing IRA and 401(k) Provisions
The bill, H.R. 5203, was approved in the House by a 401-20 vote September 19. It includes the pension and IRA contribution increases (and other pension changes) approved by the House in another bill earlier this year. (Thomas, from the Library of Congress)

The Value of a Roth IRA In An Estate
Excerpt: "With the advent of the Roth IRA, financial and estate planners have been given a new tool to optimize retirement and estate plans for individuals with significant assets in their retirement plans. A Roth IRA has the potential to provide a great source of wealth for your clients and their heirs. This article will quantify the exceptional value a Roth IRA has as part of an estate." (Roth IRA Advisor)

Investigator Says PBGC Awarded Contract Improperly
Excerpt: "[Bennie L. Hagans Jr., the director of insurance operations for the Pension Benefit Guaranty Corporation,] sat quietly in the back of a Senate hearing room today as witnesses said it appeared that he had improperly steered $40 million worth of contracts. Congressional investigators said the matter would be referred to federal prosecutors." (New York Times; free registration required)

Last-Day Requirement Met If Plan Year's Last Day Is Not Workday But Employee Leaves the Day Before?
Question posed on BenefitsBoards.net: "When does an employee cease to be an 'Employee' for plan purposes? An employee is planning to have his last day of work on Friday, September 29. Saturday, September 30 is the last day of the plan year. The plan requires a participant to be an 'Employee' on the last day of the plan year to get the match. Saturday is not a typical work day for the company. Does the participant get a match or not?" (BenefitsBoards.net)

On Sale: Martha Priddy Patterson's Working Woman's Guide to Retirement Planning
Excerpt: "Published at $15.95; Your Price $7.95." (Not affiliated with BenefitsLink) (HamiltonBook.com)

Bush's Social Security Savings Plan Returns To Spotlight
(Washington Times)

Opinion: Smearing the Idea of Privatized Social Security Accounts
Excerpt: "Big government reactionaries are having a very difficult time opposing George W. Bush's personal account option for Social Security. By overwhelming majorities, the public recognizes that the personal account investments would produce far better returns and benefits than Social Security." (Washington Times)

Job Openings Newly Posted or Reposted on EmployeeBenefitsJobs.com


Reporting Compliance Specialistfor US Department of Labor - Pension & Welfare Benefits Administration
in DC

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