Retirement Plans Edition
February 1, 2001
Today's sponsor is Technical Answer Group, Inc. (click on banner for more information)
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Will the 401(k) Bubble Burst?
Excerpt: "Will the downturn in the stock market be deep enough to push 401(k) plan sponsors toward offering broader arrays of investment choices to participants in the quest for better returns? Over the last few years, that question has been irrelevant." (CFO.com)
NCEO releases excerpts from new book on ESOP valuation
The National Center for Employee Ownership (NCEO) has released excerpts from the newly published second edition of its book on ESOP valuation. The second edition includes an important new article that presents empirical evidence on whether an ESOP may pay a control premium in the initial stage of a multi-stage transaction where the ESOP owns under 50% but plans to ultimately gain a controlling interest. (The National Center for Employee Ownership)
Another Question is Answered in the Correcting Plan Defects Q&A Column
A profit sharing plan is top-heavy for the plan year ending December 31, 1999. The 1999 top-heavy contribution has not been made. Does this mean the top-heavy failure in this case occurred in the 2000 plan year and earnings adjustments on the corrective contributions should be calculated from December 31, 2000? Which IRS corrective procedure should be used? (BenefitsLink.com)
New e-Services Make 401(k) Plans Simpler For Smaller Firms
Excerpt: "Providers are beginning to offer more options geared to the small 401(k) marketplace-- from Emplanet's and Fidelity's e-based 401(k) plans to 401kExchange.com's Web-based provider rankings and request for proposal (RFP) process." (IOMA's Report on Managing 401(k) Plans)
Ohio Appeals Judge 'Retires' For Two Months, Will Come Back To Collect Both Salary and Pension
Excerpt: "When state law was changed Sept. 14, it reduced the time that retiring officials must wait before they can return to work from six months to two months. The old law imposed a six-month loss of pension benefits if the retiree returned to work too soon, but the new law imposes only a two-month penalty." (Akron Beacon Journal)
ERIC Encourages Legislators to Co-Sponsor Retirement Reform Bill
Excerpt: "Reps. Rob Portman (R-OH) and Benjamin Cardin (D-MD) are reintroducing their bipartisan comprehensive pension reform legislation, and you can advance solid solutions for your constituents' retirement security by cosponsoring this legislation now." (ERISA Industry Committee)
(Following also appears in Welfare Plans Edition)
Employee Benefits News Alert: Winter 2001
Well written! Topics: HIPAA nondiscrimination rules clarified, compliance now mandatory; IRS finalizes 1999 proposed COBRA regulations without many changes; new claims procedure rules mean drastic changes for group health plans and disability plans; new SPD content rules require numerous changes to SPDs; IRS gives its final word on cafeteria plan election changes; IRS finalizes regulations on qualified transportation fringe benefits; new minimum distribution rules: easier, cheaper, and safer. (Davis Wright Tremaine LLP)
Supreme Court Denies Review of Three Employee Benefits Cases
Excerpt: "The U.S. Supreme Court has declined to hear three cases involving employee benefits that were decided by appellate courts last year. The Court denied a petition to review the decision of the Third Circuit U.S. Court of Appeals in CBS, Inc. v. Bellas [and] the decision of the Ninth Circuit U.S. Court of Appeals in Thorpe Holding Co. Profit Sharing Plan v. Stewart [and] the Ninth Circuit's decision in Simon v. Value Behavioral Health, Inc." (Spencernet)
New Summary Plan Description Rules
Excerpt: "The new rules for a summary plan description (SPD) primarily focus on changes required for group health plans, but also add a few new requirements for pension plans and modify the standard ERISA disclosure notice for SPDs. The rules will apply to SPDs for calendar year plans as of the first day of the second plan year beginning on or after January 22, 2001 ..." (Deloitte & Touche's Human Capital I.Q.)
Reporting Stock Option Income On W-2: IRS Backs Off (pdf)
Excerpt: "The IRS announced on December 21, 2000 that the new separate reporting requirement for box 12 described below would be optional for 2001." (Kilpatrick Stockton LLP)
Data Reveal Workers with Health and Retirement Benefits Less Likely to Leave
Excerpt: "Human resources officers now have data to back up what they have always known: employee benefits are good retention devices. Workers covered by employer-provided health and retirement plans are far less likely to be looking for new jobs than those without such benefits ..." (Deloitte & Touche's Human Capital I.Q.)
SEC Says Option Deals Must Be Made Public
Excerpt: "Companies that allowed executives to walk away from the purchase of stock late last year will have to disclose that fact to their shareholders in footnotes to their annual reports, the Securities and Exchange Commission told accountants Wednesday." (Chicago Tribune)
| Pension Administrator | for Mark A. Schwab & Associates, Inc. in FL |
| Senior Project Analyst | for ICMA Retirement Corporation in DC |
| ERISA Specialist | for Zurich Scudder Investments in NH |
| Pension Enrollment Specialist | for Diversified Investment Advisors in MD |
| Pension Enrollment Specialist | for Diversified Investment Advisors in NV |
| ERISA Paralegal | for Arnall Golden Gregory, LLP in GA |
| 401(k) Account Processor | for Invesmart, Austin, Texas in TX |
| Communications Writer for Employee Benefits Outsourcing | for Unifi Network a division of PricewaterhouseCoopers in NJ |
| Health & Welfare Consultants & Senior Consultants - Technical & Administrative | for Unifi Network a division of PricewaterhouseCoopers in NJ |
| Health, Pensions and Retirement Savings Policy in the 107th Congress | in CA on February 28, 2001 presented by LA/ISCEBS, the LA Employers Health Care Coalition and the EBPA |
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