| The BenefitsLink Newsletter - Retirement Plans Edition |  |
July 27, 2001 - 13,193 subscribers
Today's sponsor: Guide to the Form 5500 Series: 2001 Edition for 2000 Plan Years (click)
The Guide to the Form 5500 Series: 2001 Edition for 2000 Plan Years provides plan administrators concise, complete explanations of the forms, schedules, and instructions in the Form 5500 Series, which was revamped last year. Written by respected author and lecturer Valeri L. Stevens. Just $134, but what a time-saver! Click for more details or to order online now.
Analysis of New S Corporation ESOP Anti-Abuse Law (PDF)
Begins on page 5 of this well-written 8-page client newsletter from a prominent law firm. Excerpt: "The new S corporation ESOP anti-abuse law adopted by Congress and signed into law by President Bush on June 7, 2001, continues to permit S corporations to establish ESOPs that provide broad-based employee ownership. The new law does prevent the use of S corporation ESOPs from providing inappropriate deferral of income tax and income tax avoidance." (Jenkins & Gilchrist)
Principal Financial Group Shareholders OK Plan to Go Public
Excerpt: "The plan was approved by 92 percent of the policyholders in voting Tuesday, easily surpassing the two-thirds required to move forward, the company said.... Des Moines-based Principal is one of the nation's largest overseers of 401(k) retirement accounts with $113 billion in assets under management." (Associated Press via Excite News)
Opinion: Left-Out Retirees Another Reason Pennsylvania Pension Benefit Hike Was Unwise
Excerpt: "Two months ago, the Legislature, Gov. Ridge and Pennsylvania's teacher unions hatched a late-night deal that enacted the administration's latest education overhaul, in exchange for hefty pension increases for school employees, state workers and legislators ... State and school employees who are already retired reacted bitterly when it became known that the agreement contained no provision to improve their pensions." (The [Pittsburgh] Post-Gazette)
Milton Friedman's Opinion: Speaking the Truth About Social Security Reform
Excerpt: "[G]iven a proper understanding of Social Security's current unfunded liabilities ... there are no real transition costs to privatizing Social Security, merely the explicit recognition of current implicit debt. A privatized Social Security system should not be mandatory. The fraction of a person's income that it is reasonable for him or her to set aside for retirement depends on that person's circumstances and values." (Milton Friedman published by the Cato Institute)
Tech Giants Targeting SEC Stock Option Rule
Excerpt: "A group of technology giants, including Microsoft and Verizon, are trying to kill a rule proposed by the Securities and Exchange Commission that would require companies to make more extensive disclosures about their use of stock options as part of employee pay packages." (Washington Post)
Newly Posted or Renewed Job Openings (Post Yours!)
| Compliance Specialist | for Dreyfus in NY |
| Defined Benefit Administrator | for Mellon Employee Benefit Solutions in NJ |
| Employee Benefits Consultant | for Fidelity Investments in KY, OH |
| Benefits Manager | for RMH Teleservices in PA |
| Benefits Specialist | for TAC Worldwide Companies in MA |
| Document Specialist/Administrative Assistant/Secretary/Pension Paralegal | for Bala Cynwd, Pennsylvania Pension Law & TPA Firm in PA |
| Senior Plan Administrator | for Decimal, Inc. - The Online 401(k) in CA |
| Plan Document Specialist | for Merit Benefits Group, Inc. in IL |
Newly Posted Conferences (Post Yours!)
| Managed Care Organizations: The 2nd National Legal Forum for Healthcare Attorneys and Corporate Counsel | in NY on November 15, 2001 presented by The American Conference Institute |
| HIPAA Compliance: The Next Phase of Healthcare Privacy for Hospitals, Healthcare Networks and Their Legal and Other Advisors | in NY on October 25, 2001 presented by The American Conference Institute |
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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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