| The BenefitsLink Newsletter - Retirement Plans Edition |  |
March 29, 2001
Today's sponsor: The Securities Industry Association (SIA) (click)
Register now for the best, most comprehensive retirement products conference in 2001. The SIA's Savings, Retirement and Estate Planning Conference will be held on May 2-4 at the New York Marriott World Trade Center. For a complete agenda and information on how to register, go to the Conference section at www.sia.com.
Early Baby Boomers - Retirement Issues
Excerpt: "There were nearly 4 million babies born in America each year between 1946 and 1954, the first 1/2 of the generation now commonly referred to as the Baby Boomers. This population 'bubble' has aged to the point where a Baby Boomer turns 50 every 9 seconds in the United States today. Those that planned well for retirement, and perhaps got in on the meteoric rise in the stock market over the past decade may be choosing early retirement now." (Greg Hanna's Retirement Planning site on About.com)
Pension Board Still Opposes Virginia Governor's Plan to Pay for Teacher Raises from Pension Fund
Excerpt: "Virginia Gov. James S. Gilmore III's proposal to use money from the Virginia Retirement System to pay for teacher raises threatens the integrity of the $37 billion pension fund and sets a bad precedent, according to the trustees who manage the fund." (Washington Post)
Make Those IRA Moves Now
Excerpt: "If you converted a traditional IRA to a Roth IRA last year, incurring an income tax bill, hurry up and take another look ... Chances are it has gone down in value since then, and the income taxes due on that conversion are higher than they need to be. Reconvert back to a traditional IRA before April 16, wait at least a month as legally required, and then convert it back again to a Roth. You'll forestall the tax hit a year, and probably cut the total taxes due." (Reuters via Excite News)
DOL Issues Significant New Guidance on Plan Expenses
March 2001. Excerpt: "Establishing and operating an employee benefit plan costs money. A plan's expenses can be paid directly by the employer or they can be paid from the assets of the plan. Although employers typically fund plans and thus indirectly 'pay' even when expenses are paid from plan assets, the legal implications of using plan assets to pay expenses are significant and the rules for doing so are strict." (Groom Law Group)
Opinion: Social Security Privatization in a Bear Market
Excerpt: "A correction was inevitable. So what? For retirement purposes, year-to-year market fluctuations are irrelevant compared with the long-term trends over the 40 or more years of a person's working lifetime." (Cato Institute)
Ex-spouses Could Profit From Supreme Court Ruling On Beneficiaries
Excerpt: "[Last week, the U.S. Supreme] court invalidated a Washington state law that automatically revoked the designation of a spouse as an insurance or pension beneficiary when a marriage ended. Missouri and a handful of other states ... have similar laws that now are also totally or partly invalidated ..." (Kansas City Star)
The Cost of Federal Employees' Benefits
Excerpt: "Why do so many proposals for better federal pay and benefits get introduced in Congress year after year after year, but never go anywhere? There's a simple answer: They cost money." (GovExec.com)
Outline of ERISA Reform Legislation
March 2001. Excerpt: "On June 23, 2000, Rep. Boehner introduced legislation that would substantially reform ERISA's prohibited transaction rules.... H.R. 4748 would create a broad new statutory exemption for 'arm's-length' transactions, narrow the definition of a party in interest, modify the statutory criteria that DOL must apply in issuing exemptions, and require that DOL issue new plan assets regulations. Each of these proposals is described below." (Groom Law Group)
Selecting Your Compensation and Billing Structures for Investment Advice and Financial Planning
Excerpt: "The firm must decide early in the process of setting up a financial planning practice whether to sell products to clients and accept commissions (as opposed to fee-only services) because accepting commissions could affect the business structure, client base, operations (including broker-dealer affiliation), licensing and compliance, and marketing." (Practitioners Publishing Company)
Testimony of Witnesses at Hearing On Social Security and Medicare Trustees' 2001 Annual Reports
Hearing held on March 20, 2001. (House Ways and Means Committee, Senate Finance Committee)
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Newly Posted or Renewed Job Openings (Post Yours!)
| 401(k) Investment Educator, No. NJ | for ADP, Inc. in NJ |
| Manager of Compensation & HRIS | for Private Healthcare System in MA |
| Insurance/Employee Benefits Sales Executive | for CSI in PA |
| Practice Leader, Compensation and Benefits Consulting | for International accounting and management consulting firm in IL, NY |
| Benefits Paralegal | for Edwards & Angell, LLP in CT |
| 401(k), DC Pension Consultant | for MK Consulting, Inc. in ALL STATES |
| Education Specialist | for CIGNA Retirement and Investment Services in ALL STATES |
Newly Posted Press Releases
| America's Choice Healthplans' Partners with DoctorQuality (America's Choice Healthplans) |
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