Retirement Plans Edition
December 11, 2000
Today's sponsor is 2e Corporation (click on banner for more information)
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Market's Wild Ride May Derail Some 401(k)s
Excerpt: "Here are more tips to help your 401(k) balance through the market's roller coaster ride ... " (USA Today)
SEI to Provide Total, Outsourced Defined Benefit Program
Excerpt: "SEI Investments ... announced that beginning January 2001, it will expand its outsourced defined benefit (DB) program to provide actuarial, administration, plan design, communications and consulting in addition to its current investment, trust, custody, and payment services, all in one comprehensive package." (Press release, from PR Newswire)
Financial Decisions at Retirement (PDF)
Excerpt: "This issue of Fundamentals provides a summary of the principal findings from the survey. The details of the survey are contained in the full report, Defined Contribution Plan Choices at Retirement: A Survey of Employees Retiring Between 1995 and 2000." (Investment Company Institute)
Defined Contribution Plan Distribution Choices at Retirement (PDF)
Excerpt: "A Survey of Employees Retiring Between 1995 and 2000 ... Defined contribution plan participants made sensible decisions about their plan balances at retirement, according to the survey findings. Surveyed retirees appeared to have considered carefully the distribution options available for withdrawing and using their assets and, generally, selected distribution options consistent with their personal financial circumstances." (Investment Company Institute)
The Pension Book: What You Need to Know to Prepare for Retirement
By K. Ferguson and K. Blackwell. Originally published at $12.95; remainder available from Edward R. Hamilton bookseller at $2.95. Excerpt: "Practical handbook presents case, step-by-step the best pension options for all American workers." (EdwardRHamilton.com)
Another Question is Answered in the Stop, Look & Listen: Railroad Retirement Q&A Column
I have paid into Social Security for the past 20 years. Before that, I worked for a railroad for seven years. If I go back to a railroad and get at least 3 more years of credits, will the last 20 years of my Social Security credits then be used by Railroad Retirement in the same way as actual railroad credits are, to produce a higher Railroad Retirement benefit? (BenefitsLink.com)
Another Question is Answered in the Fiduciary Investing Q&A Column
Can a portfolio investment manager of a defined benefit plan recommend that the plan invest in the investment manager's common stock without violating the prohibited transaction rules of ERISA? (BenefitsLink.com)
Another Question is Answered in the Fiduciary Investing Q&A Column
How proper is it for an employer-directed plan (money purchase) to place its investments through a bank that also handles the company's credit line? The investments ($6 million) are primarily in cash and government securities, with about $500,000 in life insurance outside the bank. The bank does not meet with the company on its investments or offer any recommendations on diversification. (BenefitsLink.com)
(Following also appears in Welfare Plans Edition)
Welcome to new BenefitsLink advertiser Entrust Administration, Inc.
Since 1981 Entrust Administration Inc. has provided trust, pension administration, and recordkeeping services to individuals and corporations who wish to include non-traditional assets as part of their tax-deferred and tax-free portfolios. For more information visit their site at www.entrustadmin.com
Election 2000: Unique Legislative Challenges Face Next President
Excerpt: "Because of the unique political climate that will exist in 2001, the corporate community could be well positioned to influence the shape and direction of this evolving legislative agenda." (Ernst & Young LLP)
Congress Scuttles Tax Bill
December 6. Excerpt: "Republican leaders announced yesterday that they were shelving H.R. 2614, the tax relief bill that contains the bipartisan retirement savings reform package, and would not act on any tax relief measures in the remaining days of the lame duck session." (American Benefits Council)
Court Says Mack Didn't Violate ERISA By Not Rehiring Workers
Excerpt: "A suit brought by 78 former Mack workers (Williams v. Mack Truck Inc.) claimed that the company had violated ERISA rules when it refused to hire them after extensive layoffs in 1987. The employees were not vested in Mack's pension plan at the time they were laid off." (Truckinginfo.com)
St. Louis Primed to Drop Tax on Stock Options
Excerpt: "A St. Louis Board of Aldermen committee voted this week to put an end to the earnings tax on stock options in an effort to retain and attract new businesses to the city." (OptionWealth.com)
AOL, Time Warner to Offer Stock Options to All Employees
Excerpt: "America Online Inc. and Time Warner Inc. plan to give stock options to all 85,000 employees shortly after their merger is completed, as part of an effort that underscores a shift to a more equity-based compensation at the combined company." (MSNBC.com)
| Managing Actuary | for New York Life Benefit Services LLC in MA |
| Retirement Administrator | for Delaware Investments in PA |
| Defined Contribution Plan Administrator/Conversion | for an investment management company in NY |
| Pension Administrator | for Pension Performance, Inc. in IL |
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