| The BenefitsLink Newsletter - Retirement Plans Edition |  |
October 18, 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)
OK to Send 401(k) Deferrals to Trust Checking Account Weekly but Sweep to Investments Monthly?
Excerpt: "Can the employer open a checking account for the trust and make weekly deposits of deferrals to this non-interest bearing account, and then monthly send a check to the mutual funds to be invested as per the participants' directions?" (Reish Luftman McDaniel & Reicher)
Another Question is Answered in the Correcting Plan Defects Q&A Column
How can a plan sponsor demonstrate that it has "established practices and procedures" ensuring compliance with Code section 401(a)? (BenefitsLink.com)
QuickBooks Maker Allies with Principal Financial Group to Offer Retirement Plans to Small Businesses
Excerpt: "Other reasons business owners cite for not offering a retirement product are the high levels of effort and expense required for administration. 'In executing most administrative activities via the Web, QuickBooks Retirement Solutions eases the burden of managing a retirement product. And the highly-competitive fixed costs make offering a retirement product much more affordable to small business owners,' said [Intuit's] vice president and general manager." (Business Wire via Excite News)
CalPERS Sues Executive of Company in Which Pension Fund Invests, Alleges Overpayment
Excerpt: "The nation's biggest pension fund said Wednesday it sued the chief executive of Lone Star Steakhouse & Saloon Inc. over stock options and other benefits that the fund said has cost the company and shareholders more than $100 million since 1995. The California Public Employees' Retirement System, or CalPERS, said the shareholder lawsuit targets a slew of benefits and awards received by Lone Star CEO Jamie Coulter as well as a handful of current and former board members." (Reuters Health via Excite News)
Collaborative Networks-- the Future of Retirement Technology
Excerpt: "The first-generation Internet applications for recordkeeping were primarily designed according to a 'one-to-one' model.... In the next-generation Internet, we will replace these 'one-to-one,' narrowly focused Web applications with powerful, user-centric, collaborative networks. These collaborative networks will be personalized and allow any user connected to the network to interact efficiently with any other user." (401kWire.com)
ERIC Itemizes Desired Relief for Plan Sponsors Due to September 11th Terrorist Attacks
Excerpt: "The ERISA Industry Committee (ERIC) has held several conversations with member companies affected by the September 11th terrorists attacks and has conveyed to relevant agencies and the Congress information regarding relief needed for various purposes. This letter expands on and summarizes the information ERIC has provided to date. We emphasize that while federal agencies have taken several helpful actions following September 11th, more relief is required ..." (ERISA Industry Committee)
ERISA Industry Committee Says Plan Sponsors, Workers Need Broader Disaster Relief
Excerpt: "[ERIC President Mark] Ugoretz pointed out that the relief provided thus far from the agencies has largely been restricted to a confined geographic area, but that plan sponsors were hit hard by the attacks and resulting disruptions." (ERISA Industry Committee)
Employers Respond to Disaster: Online Resources and Information from BNA
Excerpt: "This collection of information and resources is provided as a service to employers to help them deal with issues arising in the wake of the events of Sept. 11, 2001.' Includes Questions and Answers About Military Leave Obligations; Helping Employees Cope: A Supervisors' Checklist; Summaries of State Military Leave Laws; State Tax Relief Comparison Chart. (Bureau of National Affairs)
Newly Posted or Renewed Job Openings (Post Yours!)
| 401(k) Pension Administrator | for Kibble & Prentice, Inc. in WA |
| Health and Welfare Consultants - Staff/Senior | for Ernst & Young LLP in NY |
| Disbursement Specialist | for ICMA Retirement Corporation in DC |
| Actuary - Senior Consultant | for Global HR Consulting Firm in DC |
| Pension Plan Administrator | for The Michigan Pension Group, Inc. in MI |
Newly Posted Conferences (Post Yours!)
| Private Money Managers for Individuals and Fiduciaries | in DC, MD, VA on November 28, 2001 presented by Morgan Stanley |
| Private Money Managers for Individuals and Fiduciaries | in DC, MD, VA on December 12, 2001 presented by Morgan Stanley |
Newly Posted Press Releases
| Benefit Software Inc. Announces New Fringe Facts® Personalized Employee Benefit Statement Service (Benefit Software 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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