September 27, 2001 - 12,175 subscribers Today's sponsor: ASPA (Click on company name or banner to learn more.) Advance your career with the retirement industry's only certification program devoted exclusively to 401(k) plans. QKA is available only from ASPA-- the education leader for qualified plan issues. You can add the prestigious QKA designation to your name by passing five invaluable courses. QKA training is essential for completing day-to-day work, and for realizing a promising future. Start earning your QKA designation today-- and watch your career soar tomorrow. Click on the banner above or visit http://www.asppa.org/qka/n03b/index.html for more information. (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) Guide to GUST Retirement Plan Amendments (PDF) Originally published June 30, 2000. Brief checklist of required and optional amendments. (Milliman USA) Analysis: Court Strikes Down Xerox's Cash Balance Lump Sum Calculations Excerpt: "The Xerox case is now the third in a line of cases in which cash balance plan participants have challenged their plan's method for calculating pre-retirement lump sum distributions. So far, cash balance plan sponsors have been on the losing side in all three cases." (Thompson Publishing Group) GAO Analyzes Effects of Increasing Defined Contribution Limits and Coverage Increasing defined contribution plan limits and allowing certain defined contribution plan catch-up contributions can help up to 11% of all eligible participants, according to a September 17 report prepared by the General Accounting Office for the House Ways and Means Committee. 'Private Pensions, Issues Of Coverage And Increasing Contribution Limits For Defined Contribution Plans,' is report numbered GAO-01-846. (Spencernet) Analysis: CalPERS Posts Fund's Record on Web Site; Money Managers Aghast Excerpt: "It's a report card that has rocked the secretive venture capital world, and one that even the 'A' students didn't care to see displayed on the refrigerator. 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." (Texas Association of Public Employee Retirement Systems) Michigan Pension Funds Snap Up Stocks Excerpt: "The state's pension fund managers snapped up stocks when the market dropped in the wake of the terrorist attacks. Pension fund managers bought about $150 million in stocks in the past week and sold no holdings." (The Detroit News) Cost & Small-Business Technology Would Be Major Factors in Social Security Individual Accounts Press release. Excerpt: "The viability of any system of Social Security individual accounts would depend largely on how well their operation, administrative feasibility, and costs are addressed before a political decision is made to adopt them, according to a new report by the nonpartisan Employee Benefit Research Institute (EBRI)." (PR Newswire via Excite News) IRS Extends Through 2002 Relief From Reporting of Nonstatutory Stock Options In Announcement 2001-92, the Internal Revenue Service extends through the year 2002 the relief from mandatory reporting of compensation resulting from employer-provided nonstatutory stock options on Form W-2. Specifically, the announcement provides that, with respect to W-2 forms issued for the year 2002, the use of Code V-Income from the exercise of nonstatutory stock options, is optional. (Spencernet) IRS Sets Up E-Mail Address For Businesses With Questions Related To Terrorist Attacks The Internal Revenue Service has announced that it has activated an electronic mailbox to provide assistance and answers to business taxpayers affected by the September 11 terrorist attacks. Businesses can send their questions to the following e-mail address: corp.disaster.relief@irs.gov. (Spencernet) Newly Posted or Renewed Job Openings (Post Yours!)
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