The BenefitsLink Newsletter -
Retirement Plans Edition
November 28, 2000
Today's sponsor is Fortress Financial Group, Inc. (click on banner for more information)
Financial Engines Offers Services to Federal Thrift Savings Plan Participants; Free for Now
BenefitsLink apologizes to Financial Engines and the Thrift Savings Plan for a misleading headline in yesterday's newsletters and on the Benefits Buzz page -- the Thrift Savings Plan has NOT "picked" Financial Engines for online investment advice, and it has not endorsed this commercial product or vendor. The Thrift Savings Plan does not provide investment advice and does not endorse personnel or products which provide such advice. The linked article correctly states that the advisor service is available without the sponsorship, approval, or endorsement of any Federal government entity, agency, or authority.
Court Reinstates Claims That Companies Violated ADEA In Work-Force Reduction
Excerpt: "A federal district court improperly granted summary judgment in two consolidated lawsuits alleging that Ameritech and Indiana Bell Telephone Company violated the Age Discrimination in Employment Act (ADEA) in connection with a work-force reduction, [the U.S. Court of Appeals for the Seventh Circuit has ruled.]" (Spencernet)
Selective Availability of Separation Benefits Outside of Pension Plan Upheld Under ERISA
Piner v. Dupont de Nemours & Co. (4th Cir. 2000). Excerpt: "Because the facts showed that the program was funded by general corporate assets, the court found no basis for the allegation that pension trust assets were used to fund the separate program. The fact that the amount of accrued benefits from the pension plan was used as a figure from which the separation benefits were calculated did not constitute funding from the pension plan." (EBIA Weekly)
(Following also appears in Welfare Plans Edition)
New issue online of the Pension & Benefits Update email newsletter by Tax Analysts: Nov. 27, 2000
November 27, 2000 issue. Highlights: Ninth Circuit Affirms Holding Estate to Duty of Consistency on Pension Distribution; Loan Repayments to Section 401(k) Plan Not Exempt Under Bankruptcy Code; VEBA's UBTI Calculated Including Investment Income; Court Finds Corporation Lacks Standing to Sue for Interest Refund. (Tax Analysts, Inc.--see www.taxbase.org)
Online Cross-Reference Between ERISA Section Numbers and U.S. Code Section Numbers
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