| The BenefitsLink Newsletter - Retirement Plans Edition |  |
March 1, 2001
Today's sponsor: The Retirement Plan Distribution Book
The Retirement Plan Distribution Book: No other resource is as comprehensive, yet accessible by everyone who has to answer distribution questions-- from customer service representatives to legal counsel. Available now, from National Underwriter Company, publishers of other fine compliance books including Tax Facts.
Outboard Marine Pension Plan Taken Over
Excerpt: "Retirees at bankrupt Outboard Marine Corp., whose retirement plan is underfunded by $73 million, could see their pension benefits reduced in a few months. But most of the benefits will be paid." (Chicago Sun-Times)
Connecticut Carpenters Pension Fund Awarded $39 Million Judgment Against Watson Wyatt & Company
Excerpt: "After a four-week jury trial in federal court in New Haven, Connecticut, the Connecticut Carpenters Pension Fund has been awarded a judgment of $39.9 million against Watson Wyatt & Company, one of the largest actuarial firms in the United States." (Business Wire press release from plaintiff's law firm)
Application Service Providers: The Key to Online Benefits Administration for Small Employers?
Excerpt: "The emergence of application service providers (ASPs) in providing online applications for benefits administration is beginning to change how small and midsize employers will handle their benefits in the future." (Spencernet)
New York Life Sued Over Benefits
Excerpt: "New York Life Insurance Co. was sued on Wednesday by a group of current and former sales agents claiming the giant U.S. life insurer held back retirement benefits and unfairly dismissed more than 1,300 agents." (New York Times; free registration required)
A Roth IRA Isn't a One-Size-Fits-All Investment
Excerpt: "In this installment, I'll discuss whether to open a traditional (or regular) IRA or Roth IRA and why it differs for each person." (worldlyinvestor.com )
Sponsors & Vendors Move To Discourage Loans With Little Affect on Participation
Excerpt: "Officials at MFS, a Boston-based investment manager and 401(k) vendor, tell about a client's DC plan that has 900 participants and just as many outstanding loans. Not every participant in the plan has borrowed from his or her account, but some employees have taken out more than one loan. This situation sends out a recurring alarm: Are too many participants jeopardizing their retirement savings by abusing the loan feature of their plans?" (IOMA's DC Plan Investing)
Pension Rules in Great Britain Altered to Lure Retired Teachers Back
Excerpt: "Pension regulations have been altered so that any teacher taking up the government's offer will not face financial penalties. Former teachers will be able to return to the classroom for two terms without losing any of their pension entitlement." (SchoolsNet)
Labor Department Establishes Toll-Free Number To Help Form 5500 Filers
Excerpt: "Starting March 1, 2001, employee benefit plan professionals can receive help in completing Form 5500 annual reports/returns by calling the U.S. Labor Department's Pension and Welfare Benefits Administration (PWBA) at the new toll-free number 1-866-463-3278." (U.S. Department of Labor press release)
It's Not Just How Many, But Who Gets Stock Options That Matters
Excerpt: "Using detailed data on the compensation practices of new economy firms collected by iQuantic, the researchers look at whether equity grants actually improve stock market performance. They also look at the correlation between performance and the types of employees who receive these grants: in other words, does it matter which employee groups get stock options?" (Wharton School, University of Pennsylvania)
Newly Posted or Renewed Job Openings (Post Yours!)
| Qualified Retirement Plans Manager | for Arthur Andersen, Human Capital Consulting in PA |
| Sr. Benefits Analyst - Defined Contributions | for Benefits Consulting in TX |
| Manager, Compensation & Benefits | for Arch Chemicals, Inc. in CT |
| 401(k) Administrator | for USI Retirement Services in NJ |
| Employee Benefits Client Manager | for Willis of Arizona, Inc. in AZ |
| Benefits Attorney | for Exxon Mobil Corporation in TX |
| Defined Contributions Administrator II | for Dreyfus Service Corporation in NY |
Newly Posted Conferences (Post Yours!)
| Introduction to Employee Ownership Plans | in NV on May 22, 2001 presented by National Center for Employee Ownership |
| Introduction to Employee Ownership Plans | in AZ on May 23, 2001 presented by National Center for Employee Ownership |
| Introduction to Employee Ownership Plans | in CA on May 21, 2001 presented by National Center for Employee Ownership |
| Introduction to Employee Ownership Plans | in AK on July 26, 2001 presented by National Center for Employee Ownership |
Newly Posted Press Releases
| PensionOnline Welcomes Benefit Insights, Inc. as a Key Partner in Its TPA Directory and Services Marketplace (PensionOnline) |
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