Retirement Plans Edition
December 1, 2000
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Failure To Timely Inform Former Employee Of A Break In Service May Have Been A Breach Of Duty
Excerpt: "In a benefits denial case stressing the responsibility of a plan fiduciary to keep participants fully informed, the Third Circuit U.S. Court of Appeals has ruled that an employer may have breached its fiduciary duty under ERISA when it failed to timely inform a former employee of a break in service, which led to reduced pension benefits. The ruling came in Harte v. Bethlehem Steel Corp." (Spencernet)
Questions Often Asked in Anticipation of Civil Service Retirement
Excerpt: "As the end of the year approaches, many retirement-eligible federal employees begin to think about how to time their departures and how to handle any unused sick and annual leave. Following are answers, prepared with the help of the Office of Personnel Management, to some commonly asked questions: ..." (Washington Post)
Widows See Cut in Firefighter Pensions
Excerpt: "Twenty-five widows of Chicago firefighters who died in the line of duty have been told their pension benefits will be cut nearly in half on Dec. 31 when a 63-year retirement age is reinstated for police officers and firefighters." (Chicago Sun-Times)
DOL Requests Help With Agenda for 2001 Retirement Savings Summit
Excerpt: "This document requests comments from the public for the purpose of developing a comprehensive agenda for the second National Summit on Retirement Savings (2001 National Summit), scheduled to be convened on or after September 1, 2001." (U.S. Department of Labor)
Older Workers: Employment And Retirement Trends
October 2000 edition. Excerpt: "As members of the 'baby-boom' generation begin to retire and collect Social Security, pension, and other benefits, many changes to both the public and private retirement systems may occur, such as raising the ages of eligibility, creating more flexible pension plans, and introducing 'phased retirement.'" (Monthly Labor Review Online, from the U.S. Bureau of Labor Statistics)
Rethinking Investing When You Retire
Excerpt: "I want to explain why the money truths of youth can lead you in the wrong direction once you're not earning a paycheck any more." (Jane Bryant Quinn, in the Washington Post)
Social Security and Retirement
Working paper. Excerpt: "A critical question for Social Security policy is how program incentives affect retirement behavior. We use the wealth of new data available through the Health and Retirement Survey (HRS) to examine the impact of Social Security incentives on male retirement." (Courtney Coile and Jonathan Gruber; Center for Retirement Research at Boston College)
Another Question is Answered in the Fiduciary Investing Q&A Column
Can an investment adviser get a referral fee from a mutual fund company, a 12b-1 fee and also charge a management fee? Is there a specific section in ERISA that outlines those fees that they can get? (BenefitsLink.com)
Another Question is Answered in the Stop, Look & Listen: Railroad Retirement Q&A Column
My father worked for a railroad in the early 1940's before he was drafted. He was killed in action. The Railroad Retirement Board paid benefits to my mother for me and their two other children until we reached 18. My mother is now 81. Would she be eligible for any widow's benefits from Railroad Retirement? Where do I go for information? (BenefitsLink.com)
(Following also appears in Welfare Plans Edition)
Treasury Semiannual Regulatory Agenda for Fiscal Year 2001 (PDF)
Find out what new regulations Treasury is planning! The latest semiannual agenda of regulations is now available online, either as a pdf version(click on the link above; looks and prints better) or a regular (HTML) Web page (easier to copy and paste from). Thanks to Carol Calhoun for suggesting the link. (Federal Register)
Department of Labor Semiannual Regulatory Agenda for Fiscal Year 2001 (PDF)
Find out what new regulations DOL is planning! The latest semiannual agenda of regulations is now available online, either as a pdf version(click on the link above; looks and prints better) or a regular (HTML) Web page (easier to copy and paste from). Thanks to Carol Calhoun for suggesting the link. (Federal Register)
Graef Crystal: GE's Immelt Might Become the $45 Million Man
Excerpt: "Jeffrey Immelt, the chief executive-designate of General Electric Co., has the opportunity to become a $45 million man. That's how much money Immelt could make in his first year after taking Jack Welch's place at the world's largest publicly traded company. The total is less than Welch's $76 million pay package for 1999, but you have to start somewhere and then work your way up." (Graef Crystal, on Bloomberg.com)
New Feature: Letters to the Editor
Want to air something about this web site or the BenefitsLink newsletters? Post your letter to the BenefitsLink editor here, using any Web browser. Thanks! (BenefitsLink)
| Plan Administrator | for Pension Investors Corporation in FL |
| 401(k)/Senior Benefits Consultant | for Confidential in CA |
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