| The BenefitsLink Newsletter - Retirement Plans Edition |  |
October 26, 2001 - 12,271 subscribers
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Companies with DB Plans Offer Better 401(k) Plans, Study Finds
Excerpt: "Companies with both types of plans tend to offer defined- contribution plans that are more generous, with more liberal eligibility requirements and quicker vesting, the survey found." (CFO.com)
Low Interest Rates, Poor Investment Returns Hammer Pension Plans
Excerpt: "A declining stock market is shrinking assets held in corporate pension plans just as falling interest rates could trigger significant accounting charges and increased funding requirements for many plans. In light of this, Watson Wyatt is issuing a call for short-term funding relief for employers." (Watson Wyatt)
PBGC Finds 10,000th Missing Plan Participant
Press release. Excerpt: "Over the past five years, the Pension Benefit Guaranty Corporation's (PBGC) Pension Search Program has located over 10,000 people owed about $34 million from terminated defined benefit pension plans. Still to be found are some 13,300 who can claim $43 million now held for them by the federal pension insurance agency." (Pension Benefit Guaranty Corporation)
Revising IRA Plan Agreements and Disclosures for EGTRRA
Excerpt: "[T]he Model IRA forms are currently being revised by the IRS. The revised Model forms will be released later along with guidance with respect to the timing of and the requirement for amending these forms. It is anticipated that necessary amendments to IRA documents with respect to the MRD regulations can be accomplished at the same time as amendments are made for EGTRRA." (PenServ, Inc.)
Overview: IRS Issues Sample Amendments for New Tax Law
Excerpt: "IRS Notice 2001-56 shows sponsors of 401(k) and other qualified plans how to comply with the new law's effective dates, and Notice 2001-57 provides sample amendments to implement new features and limits." (Thompson Publishing Group)
Take My Money -- Please! Employer Lets Employees Put Segregated Retirement Savings on Auto-Pilot
Excerpt: "SwedishAmerican considered other advisors to help its 2,800-some employees ... but ProManage was the only one willing to take on the fiduciary responsibility of making completely automatic contribution allocations for employees. The firm is a named fiduciary of the plan." (PLANSPONSOR.com; free registration required)
Welcome to new BenefitsLink advertiser BLAZE SSI
Excerpt: "BLAZE SSI Systems offer windows-based support for qualified plan proposal, administration, government approved forms and discrimination testing for DB, DC, 401(k), 403(b) and Section 125 plans. Relational ODBC databases link with payroll, recordkeeping and investment systems for error-free data exchange. Online, context sensitive 'HELP' documentation; parameter based coding; automated data validation; pre-formatted and user-designed reports are supported."
Overview: Military Leave and the Uniformed Services Employment and Reemployment Rights Act of 1994
Excerpt: "If an employer does not voluntarily maintain coverage for the Veterans, and the Veterans' health plan coverage would terminate because of an absence due to military service, under special health plan coverage rules set forth in USERRA the Veterans and their family (if they are covered under the plan) may elect to continue the health plan coverage for the lesser of (i) 18 months after the absence for military service begins, or (ii) the period of military service." (Haynes and Boone, LLP)
Newly Posted or Renewed Job Openings (Post Yours!)
| Pension Plan Administrator/Analyst | for Abacus Benefit Consultants Inc. in RI |
| Benefits Analyst/Consultant req#212527 | for Allmerica Financial in MA |
| Associate Director of Benefits | for YMCA of USA in IL |
| Retirement Plan Account Executive | for CDM Retirement Consultants, Inc., in MD |
| Employee/HR Communication Manager | for Fortune 500 Durable Goods Manufacturer in NJ |
Newly Posted Conferences (Post Yours!)
| ABC School, Beyond ABCs School, and 401(k) School | in CA on November 28, 2001 presented by National Institute of Pension Administrators - San Francisco Chapter |
| Uniformed Services Employment and Reemployment Rights Acts of 1994 | in DC on November 28, 2001 presented by Capital Chapter ISCEBS |
| DOMESTIC PARTNER BENEFITS: AN OVERVIEW AND CASE STUDY | in NY on December 6, 2001 presented by New York City Chapter of WEB |
Newly Posted Press Releases
| ABC Payroll Reaches Agreement With Human Resources Provider (ABC Payroll) |
| ABC Payroll Launches Web Site and Client Intranet (ABC Payroll) |
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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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