| The BenefitsLink Newsletter - Retirement Plans Edition |  |
April 23, 2001
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Think Carefully Before Tapping 401(k) For a Loan
Excerpt: "... a large number of Americans -- nearly a third of the people in their 40s -- are borrowing from their accounts years before they retire, according to a new study. The question: Is this wise given the rising risk of layoffs and the daunting cost of retirement?" (The [San Jose CA] Mercury News)
ASPA Announces Qualified 401(k) Administrator Designation
Excerpt: "The QKA designation requires successful completion of five examinations (PA-1 A and B, Daily Valuation, C-1, C-2(DC)) and submission of evidence of two years' practical pension experience." (American Society of Pension Actuaries)
Online Trading Scare: Fact or Fiction?
Excerpt: "Relax. Despite the widespread introduction of online trading capabilities to 401(k) plans, there is little evidence that plan participants are being transformed into the nation's next generation of day traders." (PLANSPONSOR.com; free registration required)
401(k) Fiduciary Answers from the Department of Labor
Article by attorney Fred Reish, from the April 2001 issue of ERISA Report for Plan Sponsors. Excerpt: "At last fall's annual conference of the American Society of Pension Actuaries, I co-moderated a question-and-answer panel of DOL officials. Many of the questions related to fiduciary responsibilities for participant-directed 401(k) plans." (Reish Luftman McDaniel & Reicher)
Northrop Profits Fall on Pension Income
Excerpt: "Northrop Grumman Corp., maker of combat radar systems and the B-2 bomber, on Monday reported a 34 percent drop in first-quarter net profits due to declining pension fund income." (Reuters via Yahoo! News)
Surfing For Managers
Excerpt: "Now, however, some plan sponsors that are not among the largest are finding that the Internet can help them take greater control of the search process, too." (PLANSPONSOR.com; free registration required)
Equal Pension Demanded by Women in Michigan
Excerpt: "Tired of a pension system they say requires women to work longer than their male counterparts and for less money, members of the county's largest employee group are wearing the pins as a sign of protest and demanding that the county at least re-examine the system." (The Detroit News)
St. Petersburg Police Chief's Pension Tops $74,000 Per Year
Excerpt: "Police Chief Goliath Davis III is in the money. He will collect an annual police pension of $74,400 and an annual salary of $118,000 in his new role as one of the city's deputy mayors. 'I work hard every day,' Davis said Friday. 'What's the big deal?'" (St. Petersburg Times)
Participation in Retirement Plans: a Comparison of the Self-employed and Wage and Salary Workers
Excerpt: "What factors influence worker participation in retirement plans? Recent data suggest that this decision is made differently by the self-employed and wage earners." (Bureau of Labor Statistics, U.S. Department of Labor)
Investing After Retirement: Safe Retirement Choices
Excerpt: "There are several safe alternatives to the traditional bank savings account for investing after retirement." (Greg Hanna's Retirement Planning site on About.com)
The National Compensation Survey: Compensation Statistics for the 21st Century
Excerpt: "For the first time, the Bureau of Labor Statistics will provide interrelated statistics on wage levels, benefit costs, rates of change in employer costs for compensation, benefit plan incidence, and detailed benefit provisions." (Bureau of Labor Statistics, U.S. Department of Labor)
Newly Posted or Renewed Job Openings (Post Yours!)
| Enrolled Actuary | for Chicago Suburban Pension Firm in IL |
| Benefits Consultant | for Plante & Moran, LLP in MI |
| Benefits Specialist | for Prudential in NJ |
| Benefit Consultant Trainee | for National Benefit Consulting and Actuarial Firm in CO |
| Pension Actuary | for JAK in ALL STATES |
| Compliance Consultant | for The Segal Company in NY |
| Plan Services Consultant (JO#236) | for Financial Services Company in IN in IN |
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