| The BenefitsLink Newsletter - Retirement Plans Edition |  |
September 13, 2001 - 12,361 subscribers
Today's sponsor: ASPA
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(Help BenefitsLink to provide this 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)
How Social Security Reform May Affect Your 401(k)
Excerpt: "[P]ersonal accounts alone will not fix Social Security's problems. So employers, especially 401(k) plan sponsors, should be especially watchful of the commission's recommendations.... If Social Security is changed to include personal investment accounts, 401(k) sponsors could see profound changes in the level of participation. Some workers may see the Social Security account as an alternative to saving in the 401(k), which may significantly affect nondiscrimination rules ..." (Thompson Publishing Group)
Tough to Cut the Beloved 401(k) Plan
Excerpt: " Retirement plans are, in many ways, the third-rail of HR benefits. A 401(k) used to be a nice thing, but now many employees consider it an entitlement, and messing with the formula doesn't sit well with the workforce. Nothing going on in the economy suggests that the trend away from defined-benefit (traditional pension plans) to defined-contribution plans such as 401(k)s will slow." (Workforce.com)
Nevada Suspends Controversial Pay Plus Pension Package for Selected Officials
Excerpt: "Feeling the sting of public criticism, the state Board of Examiners Tuesday decided to delay, at least temporarily, approval for any more high-ranking state officials to draw both their pay and their pension. Approvals have been granted in some cases in accordance with a law passed by the 2001 Legislature that allows hard-to-replace workers in critical positions to receive not only their current salaries but pensions from previous state jobs." (Las Vegas Sun)
American Benefits Council Submits Suggestions To IRS On Catch-Up Deferrals, Other Issues
In three separate letters, the American Benefits Council offered its suggestions to the Internal Revenue Service concerning agency guidance on certain amendments made by the Economic Growth and Tax Relief Reconciliation Act (P.L. 107-16). (Spencernet)
ASPA to Refund Registration Fees for This Weekend's Canceled Los Angeles Benefits Conference
Excerpt: "Your registration fee will be refunded in-full. We will begin working on processing all the refunds over the next three weeks, we would appreciate your patience. If you paid by credit card, you will receive a credit to that credit card account, if you paid by check, you will be refunded by an ASPA check. Thank you for your understanding and God Bless America." (American Society of Pension Actuaries)
Andersen's U.S. Compensation and Benefits News Briefs: September 5, 2001 (PDF)
Articles include: 'IRS rules stock options qualify as 'performance based' compensation; IRS rules 419A(f)(6) welfare benefit plan is deferred compensation; DOL issues two advisory opinions on qualifying governmental plans; PBGC issues Data Book; Proposed legislation on IRAs, medical expenses, welfare benefit plans, ISO and ESPP stock, and severance pay plans; EEOC rescinds guidance on ADEA and retiree health plans" (Andersen)
Newly Posted or Renewed Job Openings (Post Yours!)
| Compliance Specialist | for Mellon Financial Services in NY |
| Campaign Manager | for New York Life Benefit Services, LLC in MA |
| Retirement Plan Administrator | for FM International Services (NY), Ltd. in NY |
| Pension Services Consultant | for CUNA Mutual Group in WI |
| Client Service Consultant | for Diversified Investment Advisors in NY |
| Pension Benefits Administrator | for New England Financial/MetLife in OH |
| Small Group Account Manager | for Regional Employee Benefits Consulting Company in NC |
| Manager, Compliance Department | for Associated Pension Consultants in CA |
Newly Posted Conferences (Post Yours!)
| 11th Annual Business Management Conference | in AZ on January 12, 2002 presented by National Institute of Pension Administrators |
Newly Posted Press Releases
| Atlanta-Based Payroll Provider Creates Easy Way for Americans to Donate to Red Cross Through Automatic Paycheck Deductions (MyBenefitSource) |
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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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