Retirement Plans Edition
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October 11, 2000
Employers Sweeten the Pot with Better 401(k) Benefits
(401Kafe.com)
IRS Amends, Consolidates Rules on Automatic Approval for Changes in Funding Methods
Excerpt: "IRS has modified the list of funding method changes that may qualify for automatic approval, and has republished the entire list of eligible funding method changes to take into account changes made over the past five years. The changes are effective for plan years beginning on or after January 1, 2000. (Rev Proc 2000-40.)" (RIA Pension & Benefits Week)
Exposing the Soft Underbelly of the Soft Dollar
Excerpt: "A 1998 SEC inspection report found that the vast majority of investment advisers ... obtain products and services using soft dollars ... that most investment advisers do not fully understand soft dollars; were not adequately disclosing soft dollar usage to their clients or investors; and might be in violation of soft dollar rules and regulations. This article [is intended to familiarize] managers and investment advisers with the issues ... and to provide some practical guidance." (Jeffrey T. Horvath of Kelly Drye)
Opinion: A Retirement Fable
Excerpt: "There once was a land where people lived only two years. In the first year they worked; in the second year they lived off their personal savings. There came a time when the government decided to help out the elderly. So it instituted a system called Social Security." (New York Times; free registration required)
Retirement Responses to Early Social Security Benefit Reductions
Link to a Working Paper available for downloading from the National Bureau of Economic Research. Excerpt: "This paper evaluates potential responses to reductions in early Social Security retirement benefits.... [W]e find that Social Security coverage is quite uneven in the older population: one-quarter of respondents in their late 50's lacks coverage under the Disability Insurance program, and one-fifth lacks coverage for old-age benefits." (Olivia S. Mitchell, John W.R. Phillips)
| Retirement System Specialist | for Levi, Ray & Shoup, Inc. (IT Company) in IL |
| 401(k) Plan Administrator | for RSM McGladrey, Inc. in IL |
| Client Relationship Manager | for Fidelity Investments in TX |
| ERISA Specialist / Legal | for Fidelity Investments in TX |
| Business Analysts | for CitiStreet - A State Street and Citigroup Company in MA |
| Benefit Administrator - Defined Contribution | for Buck Consultants, a Mellon Consulting Company in NJ |
| 401k Compliance Analyst | for Automatic Data Processing- Retirement Services in NJ |
| Retirement Plan Manager | for Citizens Bank in RI |
| Employee Benefits Recordkeeping Supervisor | for Largest CPA and Consulting Firm in Northern New England in ME |
| 401(k) DC Pension Plan Administrator | for Expanding Central New Jersey Financial Planning and Employee Benefit Consulting Firm in NJ |
| Senior Business Analyst | for Boston Financial Data Services in MA |
| Benefit Outsourcing - Defined Contribution & Total Benefit Outsourcing | for Unifi Network/PricewaterhouseCoopers in NJ |
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