| The BenefitsLink Newsletter - Retirement Plans Edition |  |
August 29, 2001 - 12,749 subscribers
Today's sponsor: Financial Finesse
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Former Workers at Lucent See Nest Eggs Vanish, Too
Excerpt: "Not only are they out of work, but their savings have largely evaporated because they were stashed in Lucent stock. And Lucent stock has fallen 91 percent since the end of 1999, when the stock market was racing to record highs.... [W]orkers could invest in Lucent shares through their 401(k) retirement plans ... Blue-collar workers received the company's voluntary 401(k) matching contribution in Lucent stock. Finally, many Lucent workers received incentives and pay in options ..." (New York Times; free registration required)
Summer 2001 Issue of Employee Plan News Published by IRS (PDF)
20 pages. Excerpt: "New Tax Law Impacts Retirement Plans; ... New Required Minimum Distributions Model Amendment; GUST Remedial Amendment Period; Modifications to DB LRM 40; Form 5500/5500-EZ Filing Tips; The Future of the EP Determination Letter Program; An Employee's Right to Demand Distribution of Employer Securities; Tips for Expediting the Determination Letter Process (Part II); Recurring Plan Issues in Determination Case Review." (Internal Revenue Service)
Indiana U. Struggles to Pay Generous Faculty Retirement Plan
Excerpt: "When Indiana University began offering a lucrative retirement plan more than four decades ago to attract and retain faculty, a crucial detail apparently went unnoticed: how to pay for it. Now those vested in the program, which was eliminated 12 years ago, are beginning to retire, and the university faces $2 billion in payments over the next 30 years to professors who no longer teach." (New York Times; free registration required)
Another Question is Answered in the Who's the Employer Q&A Column
Dentist A and Dentist B operate as separate corporations but are housed in the same office building. They want to form corporation C as 50-50 owners. Corp C will be a dental practice staffed by a new dentist. Neither A nor B will receive dental revenues from patients of C; they will participate only as investors. If A has a 401(k) plan, will the employees of C be included in the non-discrimination testing for A's 401(k) plan? (BenefitsLink.com)
Online Video Featuring IRS Asst. Chief Council Mary Oppenheimer: Is That Worker An Employee?
Real Player format. Excerpt: "The employee versus independent contractor debate rages on. In the meantime, clients continually pose questions about how workers should be classified and what impact the classification has on employee benefit plans, fringe benefits and countless other aspects of running their businesses. This program will add the perspective of IRS and tax practitioners ..." (Tax Talk Today; free registration required)
Tax Relief's Broad Effects For Benefit Plans: Part I
Passed with little fanfare in the popular press, the Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA, P. L. 107-16) will impact all pension and profit sharing plans and changes several welfare plan requirements in educational assistance and dependent care. (Spencernet)
Newly Posted or Renewed Job Openings (Post Yours!)
| Retirement services (outside) sales representative- selling direct | for National Retirement Services Financial Institution in CA, MA, OH, TX |
| Tax Specialist-5500 Reporting | for Fidelity Investments in TX |
| 401(k) DC Administrator | for T. Charles & Associates, Inc. in CA |
| Actuarial Assistant - Pension Administrator | for Leggette Actuaries, Inc. in TX |
| Benefits Compliance Paralegal | for Aon Consulting in GA |
Newly Posted Conferences (Post Yours!)
| EGTRRAs & GUSTy Timing - Qualified Plan Amendments and Determination Letters | in MO on October 3, 2001 presented by The Bar Association of Metropolitan St. Louis |
| PRACTICAL STEPS IN IMPLEMENTING RETIREMENT BENEFITS IN RESPONSE TO THE ECONOMIC GROWTH AND TAX RELIEF RECONCILIATION ACT OF 2001 (EGTRRA) | in NY on September 20, 2001 presented by NEW YORK CHAPTER OF WEB |
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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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