Retirement Plans Edition
December 29, 2000
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Choosing Among 401(k), 403(b), and 457 Plans
Excerpt: "The attractiveness of a 457 plan as compared with a 403(b) plan or a 401(k) plan may vary greatly depending on the circumstances." (Carol V. Calhoun of Calhoun Law Group, P.C. and Danny Miller of Ice Miller)
A Persistent Thorn for Europe: Funding of Pensions
Excerpt: "Such ambivalence toward private pensions is not unique to France. A similar reluctance to adopt private pensions has long been evident in much of Western Europe. But shifting demographics-- chiefly falling birthrates and increased longevity-- are squeezing government-run pension systems that tax workers to pay their elders." (International Herald Tribune)
Another Question is Answered in the Who's the Employer Q&A Column
Treas. Reg. 1.414(c)-4(b)(5)(ii)(A) uses the term "directly." It is commonly believed that "directly" includes community property ownership. For example, if a spouse never actually held shares of a business in his or her name but the business (or some portion thereof) is community property, then the exception cited in that regulation would be inapplicable. Does the term "directly" include community property ownership? (BenefitsLink.com)
How Web-Based Retirement Planning is Shaping Up
Excerpt: "Recently Christopher Jones, Financial Engines' vice president of financial research and strategy, spoke with Mercury News staff writer David Plotnikoff about the outlook for Web-based retirement planning." (San Jose Mercury News)
Teachers Union Loses Effort to Break Logjam on New Pension Benefits
Excerpt: "An attempt by the state's largest teachers union to lift a legal hold on parts of the state's new pension law was denied Friday by the state Supreme Court." (Milwaukee Journal Sentinel)
Pension Deal Appealed by 2 Milwaukee Workers
Excerpt: "In a move that could affect virtually all city taxpayers, workers and retirees, a pair of city employees on Wednesday appealed a judge's ruling that OK'd the massive pension settlement between the city and its unions." (Milwaukee Journal Sentinel)
Forgotten Pensions Spark Interest
Excerpt: "The caller was one of 110,000 people the [Washington state] retirement department is trying to track down because they left behind pensions when they left public jobs. The unclaimed pensions-- which have been invested by the state and grow at 5.5 percent each year-- range from pennies to more than $100,000." (Seattle Times)
Study Finds Upbeat Attitude Regarding Retirement Issues
Excerpt: "Although younger adults are a bit nervous about retirement, most Americans are optimistic that their golden years will be golden. Seventy-one percent are either very confident or at least somewhat confident that they will spend all of their retirement years in financial security." (Seattle Post-Intelligencer)
Using Money Managers
January 2001 edition. Excerpt: "When selecting a money manager, CPAs should choose ones that fit the client's performance, style and risk characteristics. In-depth due diligence is crucial to determine the manager�s ownership, assets under management, level of satisfaction among current clients, compliance with reporting standards, performance and ability to meet special client needs." (Journal of Accountancy)
(Following also appears in Welfare Plans Edition)
Link to Information Copies of Form 5500 for 2000
Both machine print and hand print versions are available for viewing. (U.S. Department of Labor)
Labor Department, Other Agencies Release Form 5500 for 2000
Excerpt: "The Form 5500 and Form 5500-EZ for plan year 2000 are essentially unchanged from 1999. Certain changes were made to reflect changes in the law, improve forms processing and clarify the instructions.... Starting in late February, the Internal Revenue Service will mail the annual Form 5500 and Form 5500-EZ package to filers. Information copies of the forms, schedules and instructions are available on PWBA's website at www.efast.dol.gov." (U.S. Department of Labor press release)
| Client Service Manager, Health and Welfare Benefits Outsourcing | for Benefits Outsourcing Company in MA, NH |
| Sr. 401(k) Operations Position | for Pension/Investment Administration Firm in TX |
| Pension Consultant/Benefits Administrator | for Veritude, A Fidelity Investments Company in RI |
| Manager - Benefits Administration | for Towers Perrin in NY |
| Pension Plan Design Specialist | for American National Insurance Company in TX |
| Associate Consultant H&W Practice | for Fidelity Investments in NH |
| Team Leader - Benefits Administration | for Towers Perrin in NY |
| Consultant, H&W Practice | for Fidelity Investments in NH |
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