| The BenefitsLink Newsletter - Retirement Plans Edition |  |
April 19, 2001
Today's sponsor: The Plan Sales System (click)
The Plan Sales System is a comprehensive, 16-step system for growing a retirement plan sales practice. It provides detailed resources, contact names and numbers, checklists, charts, handouts, letters, extensive prospecting techniques, descriptions of current market opportunities, and tools for planning and monitoring sales activity.
PSCA Releases 401(k) Automatic Enrollment 2001 Study
Excerpt: "PSCA announces the release of its free Automatic Enrollment 2001 study, a comprehensive investigation into the practice of automatic enrollment in 401(k) plans. This study explores automatic enrollment policies among 25 companies and is an excellent resource for companies who are considering instituting automatic enrollment in their plans." (Profit Sharing/401(k) Council of America)
Will You Survive a 401(k) Plan Audit? (PDF)
Excerpt: "This article focuses specifically on audits of 401(k) plans, examining the areas under review by the federal agencies and exploring 'self-audits' and corrections programs as options that can be helpful to plan sponsors." (Milliman & Robertson, Inc.)
Side-by-Side Comparison of House, Senate Pension Reform Bills
Shows key provisions and differences between H.R. 10, the Comprehensive Retirement Security and Pension Reform Act (introduced in the House on March 14, 2001, by Representatives Portman and Cardin) and the Retirement Security and Savings Act (introduced in the Senate on April 6, 2001 by Senators Grassley, Baucus, Jeffords and Graham). (American Society of Pension Actuaries)
Professor's Study Materials for CEBS 3 Online Course
Excerpt: "This website is maintained as a convenience for Temple University students interested in free study materials to assist them in preparation for the national CEBS examinations." (Professor Jack VanDerhei, CEBS, of Temple University)
ASPA Comments on Reproposed Minimum Distribution Regulations
Excerpt: "ASPA submitted comments regarding: (1) effective dates and use of the model amendment; (2) establishment of separate accounts; (3) the identification of beneficiaries and the ability to split trusts after the participant's death; and (4) application of the proposed rules to 403(b) plans." (American Society of Pension Actuaries)
Professor's Study Materials for CEBS 4 Online Course
Excerpt: "This website is maintained as a convenience for Temple University students interested in free study materials to assist them in preparation for the national CEBS examinations." (Professor Jack VanDerhei, CEBS, of Temple University)
Another Question is Answered in the Stop, Look & Listen: Railroad Retirement Q&A Column
My father worked for the railroad and died many years ago. My mother died recently. Are there any further Railroad Retirement benefits payable to my father's family? (BenefitsLink.com)
IBM Staffers Take Pension Fight To Annual Meeting
Excerpt: "One day before IBM's highly anticipated first-quarter 2001 earnings report, a group of IBM employees held a press conference to call attention to a controversial resolution regarding pension benefits scheduled for a vote at next week's shareholder meeting." (InfoWorld.com)
New York Life Moving Its Pension Out of Its Mutual Funds
Excerpt: "The New York Life Insurance Company, pitted against its employees in a class-action suit over their retirement plans, has said that the company is justified in investing pension assets in its own mutual funds. But a recent securities filing revealed that New York Life was withdrawing all of its pension assets, about $1.8 billion, from its Eclipse family of mutual funds even as it was defending its investment actions in federal court." (New York Times; free registration required)
ERIC Comments On Proposed Regulation of Explanations to a Participant After Annuity Starting Date
Excerpt: "[Internal Revenue Code] Section 417(a)(7) thus allows a participant's annuity starting date to occur before the QJSA explanation is provided -- allowing a plan to make a retroactive payment of benefits attributable to the period preceding the furnishing of the QJSA explanation." (ERISA Industry Committee)
Should a Lump-Sum Payment Replace Social Security's Delayed Retirement Credit?
April 2001. Excerpt: "Transforming Social Security's delayed retirement credit into a lump-sum payment rather than an increased monthly payment would likely encourage more workers to defer retirement and benefit claiming. The idea is thus worthy of further exploration. Several important design issues, however, must be addressed before policymakers give serious consideration to the reform." (Peter R. Orszag, published by the Center for Retirement Research at Boston College)
Information Technology in Benefits Plan Administration (PDF)
Excerpt: "This article describes the changes directly linked to technology developments now taking place in benefits administration. Specific information technologies (IT) are spotlighted, showing their ability to automate processes, strengthen ties to employees, and reduce administrative costs." (Milliman & Robertson, Inc.)
DOL Participates in Employee Benefits Outreach Program
Excerpt: "The U.S. Department of Labor's Pension and Welfare Benefits Administration (PWBA) will participate with the International Foundation of Employee Benefit Plans (IFEBP) in a series of conferences scheduled to be held in seven cities between May 7 and June 28." (U.S. Department of Labor press release)
CEO Could Not Sue Firm's Board To Recover Benefits Under Top-Hat Plan
The former chief executive officer of a company could not pursue a lawsuit against the firm's board of directors seeking to recover additional benefits under the company's top-hat plan because such a suit could only be brought against the plan itself. This was the ruling of the Seventh Circuit U.S. Court of Appeals in Garratt v. Knowles, et al. (SpencerNet)
The Ups and Downs of Equity-Based Compensation
Excerpt: "With billions of dollars in options under water resulting from the collapse of the NASDAQ, some of the irrational exuberance has obviously dimmed. But options are now a permanent part of compensation negotiations, at a much broader employee level than ever before. Cash-strapped entrepreneurs readily agree to equity ownership and often sign letter agreements promising equity to their future employees." (Faegre & Benson LLP)
Newly Posted or Renewed Job Openings (Post Yours!)
| INDEPENDENT ASSOCIATE | for PRE-PAID LEGAL SERVICES, INC. in ALL STATES |
| Qualified Small Plan Administrator | for The Senex Group in CA |
| Senior Plan Service Team Specialist | for ICMA Retirement Corporation in DC |
Newly Posted Conferences (Post Yours!)
| Western Pension & Benefits Conference 2001 Annual Meeting - Vail/Beaver Creek | in CO on July 15, 2001 presented by Denver Chapter of the Western Pension & Benefits Conference |
| Monthly Lunch Meeting | in CO on May 15, 2001 presented by Denver Chapter of the Western Pension & Benefits Conference |
Newly Posted Press Releases
| MyBenefitSource Introduces Common Remitter Billing Services (MyBenefitSource) |
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