| The BenefitsLink Newsletter - Retirement Plans Edition |  |
October 16, 2001 - 12,184 subscribers
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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)
Average 401(k) Participant Contributes 6.8% of Salary Pre-Tax, But Rates Vary Widely
Excerpt: "The average 401(k) participant contributes 6.8 percent of salary to his or her retirement account before taxes, and practically all of the money that workers contribute is also on a pre-tax basis, according to the latest findings from the EBRI/ICI 401(k) database." (PR Newswire via Excite News)
IRS Announcement 2001-93: How 401(k) Catch-Up Contributions Must Be Reported on 2002 Form W-2
Excerpt: "This is to advise employers how to report elective deferral catch-up contributions beginning after December 31, 2001." (Internal Revenue Service)
Hewitt Associates and Frank Russell Company Combine Strengths to Launch Fully Bundled 401(k) Service
Press release. Excerpt: "The two firms will offer SmartDC(TM) as a fully bundled manager-of-managers investment program with a level of investment oversight more often associated with traditional defined benefit plans. Rather than relying on a menu of retail mutual funds, the SmartDC(TM) program provides top-ranked institutional investment managers bundled with cost-effective administration and backed up with a broad offering of other investment choices." (Business Wire via Yahoo! News)
Chart of Principal 2001 Employee Benefits Regulatory Developments
Excerpt: "A tremendous amount of government guidance in the employee benefit area was issued at the end of the Clinton Administration. We have listed most of it below to assist you in planning for compliance with those changes." (Sanders, Schnabel & Brandenburg, P.C.)
Combining a U.S. Entity with a European-based Concern: Executive Compensation Issues
Excerpt: "There are numerous major executive compensation issues that may arise in the context of an international merger. This article analyzes these issues based on a hypothetical situation in which a United States-based corporation acquires a German-based company with significant subsidiaries in four European countries: Germany, Belgium, France and the United Kingdom." (Hewitt Associates)
Combining a U.S. Entity with a European-based Concern: Broad-Based Employee Issues
Excerpt: "Many issues arising in the context of an international merger concern broadbased (nonexecutive) employees. This article provides an overview of these concerns from the perspective of a U.S. company that is considering the acquisition of a European company with operations in several European countries." (Hewitt Associates)
Misclassifying Employees As Independent Contractors: Expensive Mistake
Excerpt: "The IRS follows the common law 'control' test for determining whether someone is an employee or independent contractor. This test looks at 20 factors as being indicative (and only indicative) of whether the person is an employee or independent contractor. The test basically involves a balancing of these factors -- which way does the scale tip?" (Freelance Jobs News)
Prudential's Demutualization Plan Approved by NJ Commissioner of Banking and Insurance
Excerpt: "Prudential Financial announced today that The New Jersey Commissioner of Banking and Insurance has approved the company's demutualization plan, clearing the way for Prudential to convert to a publicly held company." (Business Wire via Yahoo! News)
What Happens to Outstanding Stock Options in a Merger or Acquisition?
Excerpt: "A merger of public companies raises many compensation-related issues. One concern is how to handle the outstanding equity compensation, particularly the stock options, of the acquired company employees. Do the employees in the acquired company forfeit their outstanding options? Are the options bought out? Or are they exchanged for options in the new company? The answer depends on a number of factors, and accounting considerations often drive the course of action a company takes." (Hewitt Associates)
Newly Posted or Renewed Job Openings (Post Yours!)
| 401(k) Administrator, Daily Valuation Plans | for CNA TRUST in CA |
| Assistant Retirement Administrator | for City of Fresno Retirement System in CA |
| Analyst 401(k) Plan Administrator | for J. D. Benefits, Inc. -- Chapel Hill, North Carolina in NC |
| Retirement Plan Administrator | for Keiter, Slabaugh, Penny, & Holme, LLC in VA |
| Senior Benefits Analyst | for CB Richard Ellis in CA |
Newly Posted Press Releases
| Workscape and IE-Engine Sign Agreement To Deliver End-To-End e-HR Solutions (IE-Engine Inc.) |
| 150 Group Insurance Carriers and Specialty Vendors Participate in Insurance-Engine e-Marketplaces (IE-Engine Inc.) |
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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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