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The BenefitsLink Newsletter -
Retirement Plans Edition

October 24, 2000

Today's sponsor is International Quality & Productivity Center
(click on banner for more information)

Upcoming conference: Employee Benefits Online: Capitalizing On Online Technology To Radically Streamline Your Benefits Process
November 13 - 14, 2000
Chicago, IL

(Would your company like to sponsor an issue?)

MassMutual Offers New 401(k) "Supermarket" Selection of Mutual Funds
Excerpt: "Persumma was launched Oct. 1. Like several other 401(k) providers, it offers online trading as well as 24-hour access to account information. Unlike the others, though, it provides access to over 1,500 mutual funds." (National Underwriter Company)

Timing of Plan Termination Can Be Critical in Mergers Involving Parties' 401(k) Plans
Excerpt: "[I]t seems clear that Treasury regulations do permit an employer involved in a merger or stock sale to terminate a 401(k) plan and distribute the assets to the members as long as the employer times the termination correctly and then, following the plan termination, becomes part of a new controlled group." (National Underwriter Company)

Defaulting on 401(K) Loan Can Lead to Disastrous Results
Excerpt: "For those of you who are on the brink of defaulting on one and can't see a way out, here's what life can be like afterward-- and here's how the Internal Revenue Service can get away with tacking on enough penalties and interest to make a predatory lender look like Little Miss Muffett." (Richmond Times-Dispatch)

Aging in Japan: Causes and Consequences; Part II: Econonic Issues (PDF)
(David E. Horlacher, published by Centre for Pensions and Social Insurance)

Aging in Japan: Causes and Consequences; Part I: Demographic Issues (PDF)
(David E. Horlacher, published by Centre for Pensions and Social Insurance)

Another Question is Answered in the Who's the Employer Q&A Column
What rules apply when a partnership that has been a participating employer in a 401(k) plan of a group of trades or businesses under common control chooses to withdraw from the plan (no spinoff or other transaction involved, just an amendment to cease being a participating employer)? Are the rules any different from the rules that would apply if the partnership had initially chosen not to be a participating employer? (BenefitsLink.com)

Another Question is Answered in the Who's the Employer Q&A Column
I had a job setting as a Model Home Attentant and cleaning the units for the company. I was paid by one check for both jobs. I had set days and hours for the two jobs. They said I was an independant contractor. They reimbursed me for cleaning supplies. I am in Ohio. My question is, am I an independent contractor? (BenefitsLink.com)

Opinion: Capricious Stock Market Isn't the Place For Social Security, Retirement Funds
Excerpt: "If you ever wanted living proof of what a fool you would be to entrust your personal financial fate-- or the nation's-- to the stock market, you sure got it last week. On Wednesday the Dow plummeted more than 400 points before you could finish your first cup of coffee, and the Nasdaq fell faster than an investor with a margin call defenestrating himself from the 25th floor." (Washington Post)

Job Openings Newly Posted or Reposted on EmployeeBenefitsJobs.com

Managing Actuaryfor New York Life Benefit Services LLC
in MA
Compliance Testing and 5500 Reporting Specialistfor U.S. Bank National Association
in MN
Senior Plan Analystfor RPS Plan Administrators
in CO
Employee Benefits Consultantfor Employee Benefits Brokerage/Consulting Firm
in NY
Defined Contribution/401 Administratorfor Berlin, Ramos & Co., CPA's, Rockville, Maryland
in DC, MD, VA

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