| The BenefitsLink Newsletter - Retirement Plans Edition |  |
July 10, 2001
Today's sponsor: RetireGuard - MassMutual (click)
RetireGuard - An excellent benefit at an affordable cost! You understand how important it is for your employees to save for retirement, but what about protecting their contributions? MassMutual has a way to protect retirement dollars in the event of disability. While RetireGuard (sm) is not a pension program, nor a substitute for one, it helps ensure continuance of retirement savings contributions. Click on the banner above or visit our site at: http://www.massmutual.com/MMFinancial/Disability/0,4893,DI_RETIREGUARD,00.htm
EGTRRA Offers New Opportunities and Requirements for Benefit Plans (PDF)
8 pages. Nice tabular format, with brief point-by-point comments from the attorneys. Excerpt: "On June 7, 2001, President Bush signed the Economic Growth and Tax Relief Reconciliation Act of 2001 or 'EGTRRA.' This new law affects benefit plans. We are devoting this entire issue of the Newsletter to help you understand this important development." (Boardman Law Firm)
Another Question is Answered in the 401(k) Plans Q&A Column
Our defined contribution plan is top-heavy for the year 2001. The percentage was 60.24%. Would any of these options help? (1) Have one of our highly compensated employees (HCEs) roll over her money into an IRA? (2) Have a non-highly compensated employee (NHCE) roll over her money (which she previously rolled into our plan) back out of our plan? (3) Have an NHCE roll over her money into our plan? If the NHCE rolled her money into the plan, the top-heavy ratio would be less than 60%. (BenefitsLink.com)
Skimpy Retirement Savings Will Sting
Excerpt: "Of the almost overwhelming amount of research on the subject, I like -- and trust -- the Retirement Confidence survey the best. Since 1991, it has tracked major trends in retirement planning and, in the process, shown a continuing need for basic financial education." (The [Akron, Oh.] Beacon Journal)
Social Security Administration Warns of Hoax
Excerpt: "The Social Security Administration today is to issue a special alert to senior citizens to beware of hoax solicitations promising additional federal benefits and/or $5,000 in slave reparations in exchange for sensitive private information." (Washington Post)
Milliman's Monthly Benefit News and Developments (PDF)
2 pages. Summary of patients' rights bill status, regulatory roundup summarizing agency pronouncements. (Milliman USA)
Hidden "Time Bomb" of Underwater Options on Diluted Earnings Per Share
6 pages. Excerpt: "With the depressed stock prices that many companies face, the significant numbers of underwater stock options may have an unanticipated drag on growth in diluted earnings per share (EPS) when stock prices recover. This alert letter summarizes the key issues for compensation professionals, and provides examples to assist in estimating the impact..." (Frederic W. Cook & Co., Inc.)
Newly Posted or Renewed Job Openings (Post Yours!)
| Implementation, Health and Welfare | for Buck Consultants, Inc., A Mellon Consulting Company in NJ |
| Vice President, Relationship Manager | for Fidelity Investments in MA |
| Conversion Participant Accounting Representative | for Marshall & Ilsley Corporation in WI |
| Benefits Specialist | for Pioneer Electronics (USA), Inc. in CA |
Newly Posted Webcasts (Post Yours!)
| Pension Reform Webcast | on June 19, 2001 presented by ASPA |
Newly Posted Press Releases
| U.S. Bank Selects ExpertPlan to Provide Private Label Web 401(k) Product (ExpertPlan) |
Subscribe to the Welfare Plans Edition, too (click)
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