| The BenefitsLink Newsletter - Retirement Plans Edition |  |
August 17, 2001 - 12,875 subscribers
Today's sponsor: Actuarial Systems Corporation
(Please help us continue to provide this valuable newsletter at no charge to you -- our sponsors pay our way. Remember to visit them periodically; we try to make sure their products and services will be of interest to you. Thanks! --Editor)
For the past 20 years ASC has provided complete automation for the pension office, including state of the art DC/401(k) and DB administration and valuation systems, as well as sophisticated compliance testing and DV Direct, a revolutionary solution for daily valuation functions. For a free demo disk and more information click here: http://www.asc-net.com/contact.html
"Stretch" IRAs-- Too Much of a Stretch for You?
Excerpt: "In response to recent IRS rule changes, a new variation on the traditional IRA-- 'stretch' IRAs-- offers potentially huge payoffs that will be difficult for most investors to get.... You have to be careful because some of the assumptions used in the examples may not be stated in the tables. Furthermore, some of those assumptions will likely not be very realistic for your situation." (NASD Regulation, Inc.)
EGTRRA Spells Extra Tax Relief for Colleges and Universities
4 pages. Excerpt: "Beginning January 1, 2002, the act repeals two major requirements applicable to 403(b) plans maintained by colleges, universities, other nonprofit organizations, and governments: the 3-step Maximum Exclusion Allowance (MEA) under IRC Section 403(b)(2), which is cumbersome to calculate and difficult to explain to faculty and staff ..." (TIAA-CREF Institute)
Gabriel Roeder Smith Acquiring Watson Wyatt's U.S.-based Public Sector Retirement Practice
Press release. Excerpt: "Watson Wyatt will transition approximately 120 U.S. public sector retirement clients, representing approximately $6 million in annual revenue, to GRS over the next few months.... Going forward, Watson Wyatt will focus primarily on providing retirement services to private sector companies and multiemployer clients, and serving current and future public sector clients through other core lines of business ..." (Business Wire via Yahoo! News)
Manulife Financial Wins "Best of Show" for Enrollment Materials
Press release. Excerpt: "Manulife Financial ... [on August 16, 2001] announced that it has been awarded 'Best of Show' by its peers at the Life Communicators Association for its 401(k) enrollment materials." (Business Wire via Excite News)
Another Question is Answered in the Who's the Employer Q&A Column
Companies A, B and C are in an Affiliated Service Group. Company A currently has 100 employees and a 401(k) plan that covers only employees of Company A. Company C has 2 employees and a SIMPLE IRA plan that does not cover the employees of Company A. Is the SIMPLE IRA plan in trouble for not covering the employees of Company A? (Company A does not desire to participate in the SIMPLE Plan.) This ASG has been in existence for about a year. (BenefitsLink.com)
Trend: CalPERS Posts on Web the Performance Results of Various Pension Fund Investments
Excerpt: "CalPERS, the giant California pension fund that sets trends for many large investors, has posted on its Web site the performance of every venture or buyout fund in which it's invested for the past decade. Firms typically guard these numbers carefully, but the CalPERS chart even says which funds are meeting expectations, and which are disappointments." (Boston Globe)
Analysis: Further Reform of Minimum Distribution Requirements For Retirement Plans
Excerpt: "With the publication of new proposed regulations, good progress has been made ... but further enhancement and simplification are possible. This article provides a brief intellectual and political history of recent reform discussions and suggestions leading up to the IRS proposal. It then reviews the proposed regulation and analyzes the winners and those not affected by the changes. Finally, the article suggests two sets of further enhancements ..." (Mark J. Warshawsky, TIAA-CREF Institute)
The Complete Guide to Pensions in the United Kingdom
'And now for something completely different.' Excerpt: "Pensions are big news these days. The problem is that they're overwhelmingly bad news. Yet one by-product of the bad news is that increasing numbers of people now realize that they will have to provide for their own retirement. While the state pension will still be around, it will hardly buy anything, and those depending upon it will have a very miserable time indeed." (Daily Mail, London)
Opinion: Decisions on Social Security Loom
Excerpt: "Asked at the Senate Banking Committee hearing about whether the trust fund assets are 'real' or merely an accounting device, Greenspan said, 'It's wholly irrelevant whether in fact you have U.S. treasuries, corporate bonds, corporate stocks.' He added: 'The crucial question: Are they ultimate claims on real resources? And the answer is yes.'" (Washington Post)
Two New Designations Available Now Through CEBS
Excerpt: "The CEBS® program now offers candidates the opportunity to earn two new designations: Group Benefits Associate (GBA) and Retirement Plans Associate (RPA).... Each new designation requires completion of four courses within the CEBS curriculum. Like the CEBS designation, the GBA and RPA designations are awarded by the International Foundation of Employee Benefit Plans and the Wharton School of the University of Pennsylvania." (International Foundation of Employee Benefit Plans)
Newly Posted or Renewed Job Openings (Post Yours!)
| Retirement Plan Administrator | for M.L. Kerns & Associates, Inc. in TX |
| Benefits Communication Specialist | for Veritude, A Fidelity Investments Company in MA |
Newly Posted Press Releases
| SunGard Corbel Offers Self-Funded Health Plan Amendment Package (SunGard Corbel) |
Subscribe to the Welfare Plans Edition, too (click)
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.
- How to Sponsor an Issue: reach 12,875 benefits professionals!
- How to Subscribe
- Privacy Policy
- Archive of Prior Issues