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The BenefitsLink Newsletter -
Retirement Plans Edition


November 21, 2000

Today's sponsor is 2e Corporation
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Chart of section 415 and other inflation-indexed limits now updated to include 2001 limits
The chart of maximum limits subject to inflation indexing at Carol V. Calhoun's employee benefits legal resource site has now been amended to include the newly announced 2001 limits. Among other things, the chart shows limits under sections 415, 403(b), 401(k), and 457, as well as the Social Security wage base and Social Security and Medicare tax rates, for 1996-2001. (Calhoun Law Group, P.C.)

Latest Internal Revenue Bulletin Includes Updated Covered Compensation Tables (PDF)
Rev. Rul. 2000�53 appears at 2000-47 IRB 488 (Nov. 20, 2000). Excerpt: "Covered compensation tables under section 401 of the Code for the year 2001 are provided for use in determining contributions to defined benefit plans and permitted disparity." (Internal Revenue Service)

Higher Retirement Benefits Proposed for Nevada State Employees
Excerpt: "The $13.4 billion fund of the Public Employees Retirement System of Nevada is solvent, and increased benefits are being recommended for some of the 80,000 members. The retirement board received an evaluation from the Segal Co. that noted that the present premiums are slightly higher than needed to keep the system sound, but not high enough to trigger a rate reduction." (Las Vegas Sun)

In Retirement, Timing Counts
Excerpt: "We've all heard the one about the guy who drowned while wading in a stream with an average depth of 18 inches. It's good for a chuckle, and nicely illustrates the problem with averages: They don't necessarily give you a meaningful picture of the actual situation. Nonetheless, an awful lot of financial planning is based on averages." (Washington Post)

DOL Gets $5.5 Million in Settlement with Time Warner in Indenpedent Contractor Dispute
Excerpt: "'This settlement compensates misclassified independent contractors and temporary employees for their failure to be properly recognized as eligible participants under these plans,' said Secretary of Labor Alexis M. Herman." (U.S. Department of Labor)

Opinion: Cato Makes a Joke About Social Security, But I'm Not Laughing
Excerpt: "The basic idea of privatization has merit, but Bush's proposals contain as much blue sky as anything I've seen in the last 25 years. If this is demonizing, then we'd better all lay in a few gallons of holy water. The recent presidential campaign was, in my opinion, straight from Hell." (Franklin Evans, on BenefitsBoards.net)

As Options Packages Lose Value, Banks Fear Talent Loss
Excerpt: "In recent years there has been a movement among banks to grant options to all employees, regardless of rank. Traditionally, stock options were only part of executive compensation packages, reserved for those at the vice president level or above. But with mergers occurring regularly across the industry, options are more often being used as a way to heal wounds and grease the integration of the combined companies." (OptionWealth.com)

(Following also appears in Welfare Plans Edition)

DOL Gets $5.5 Million in Settlement with Time Warner in Independent Contractor Dispute
Excerpt: "'This settlement compensates misclassified independent contractors and temporary employees for their failure to be properly recognized as eligible participants under these plans,' said Secretary of Labor Alexis M. Herman." (U.S. Department of Labor)



Job Openings Newly Posted or Reposted on EmployeeBenefitsJobs.com


401(k) Plan Administratorfor Polycomp Administrative Services, Inc.
in CA
PLAN ADMINISTRATOR/CONSULTANTfor WT BENEFITS, L.L.C.
in TX
Daily Valuation Team Leaderfor Ceridian Retirement Plan Services
in CO
401(k) Account Processorfor Invesmart, Austin, Texas
in TX
Employee Benefits Paralegalfor Briggs & Morgan, P.A.
in MN
Client Relationship Officerfor John Hancock Funds
in MA
Pension Administratorfor Mid Atlantic Pension Services
in NJ
Compliance Analystfor Leggette & Company, Inc.
in TX

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