| The BenefitsLink Newsletter - Retirement Plans Edition |  |
July 24, 2001 - 13,193 subscribers
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Qualified Plan Amendments for 2001: DC and DB Plan Checklists
Excerpt: "Under current IRS procedures, qualified retirement plans generally must be amended and submitted to the IRS for review by the end of their 2001 plan years. To simplify that process and make sure plan sponsors make all necessary changes, we have prepared handy checklists." (Groom Law Group)
Perspectives on the Draft Interim Report of the Commission to Strengthen Social Security (PDF)
33 pages. Excerpt: "This document presents our analysis of the commission's arguments. We conclude that the commission's materials contain a number of misleading statements and factual errors that invite misinterpretation and are likely to sow confusion." (Henry Aaron, Alan Blinder, Alicia Munnell and Alan Orszag, published by the Century Foundation)
Analysis: Sharp Increases on Retirement Contributions Allowed
Sample article; link should work during week of July 23, 2001; might be archived by the publisher thereafter. Excerpt: "With all the publicity about tax cuts and elective deferral increases, little attention has been given to some of the more obscure provisions of the 2001 tax relief legislation. Some of these provisions allow employers to double or even triple contributions - in 2002!" (National Underwriter's Tax Facts fx)
Fiduciary Issues in the Implementation of Defined Contribution Plans
Outline of presentation by Ian D. Lanoff. Excerpt: "Protective Standards and Selection of Providers." (Groom Law Group)
Another Question is Answered in the Stop, Look & Listen: Railroad Retirement Q&A Column
I've worked for a railroad for 41 years. I will be 62 in September 2002. My wife is over 65; she is a retired government employee. We've owned a business (a corporation) for 15 years. I'm the president and I get a salary. I also own 50% of two other corporations but I have not received any money from them. Will I be penalized when I retire due to my "nonrailroad employment"? (BenefitsLink.com)
Updated: Summary of Boehner ERISA Reform Legislation
Excerpt: "On June 21, 2001, Rep. Boehner reintroduced legislation originally introduced last year that would substantially reform ERISA's prohibited transaction rules. The 'Retirement Security Advice Act of 2001' (H.R. 2269) proposed a new statutory exemption under ERISA for the provision of investment advisory services." (Groom Law Group)
Symantec Provides Free Program to Clean "Sircam" Virus from Infected Computers
I received almost 20 emails containing a new 'worm' virus from almost 10 different senders yesterday. It's in the email's attachment, which will have a strange double suffix (e.g., 'Harris.doc.exe'). The virus is spread by email from infected Windows users' computers, and there's a chance it could fill up your hard drive with meaningless text. Symantec has a free downloadable file that can be run on an infected computer in order to clean out the virus. (Symantec)
Analysis: Pension and Employee Benefit Provisions of EGTRRA
Nice table; for each issue the table includes a summary of current law and a summary of the change created by the new law. (Groom Law Group)
Newly Posted or Renewed Job Openings (Post Yours!)
| Quality Control Document Specialist | for SunAmerica Financial in CO |
| Systems Analyst (Benefits) | for May, McGiboney & Associates, Inc. in GA |
| Assistant Director, Flex Benefits | for North Shore-LIJ Health System in NY |
| 401k Sales Support/Internal Wholesaler | for National Retirement Services Institution in Denver in CO |
| Senior Compensation Representative | for North Shore-LIJ Health System in NY |
Newly Posted Press Releases
| AFS Brokerage, Inc. Joins with 401kExchange! (401kExchange.com) |
| CNA Trust introduces online trading for self directed brokerage participants (L & A Marketing and Advertising for CNA Trust) |
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Copyright 2001 BenefitsLink.com, Inc., but you may freely distribute this email newsletter in whole. This newsletter is edited by David Rhett Baker, J.D.
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