| The BenefitsLink Newsletter - Retirement Plans Edition |  |
November 7, 2001 - 12,418 subscribers
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Updating Qualified Plans for Recent Legislative and Regulatory Changes
Excerpt: "The checklists identify amendments that must or may be included in IRS-qualified defined contribution and defined benefit plans as a result of changes made by [recent legislation].... Applications filed after March 3, 2001 will be reviewed for all changes in the law since 1994 (referred to as 'GUST')." (Groom Law Group)
Analysis: Pension Plans and IRAs Under EGTRRA
Extensive outline of the new statutory provisions. (Noel C. Ice, Esq.)
Overview: Proposed Catch-Up Regulations
Excerpt: "The proposed regulations contain strict and complex rules governing the circumstances under which elective deferrals qualify as catch-up contributions .... Also, employers may need to hold off on permitting catch-up contributions to the extent that conforming legislation under applicable state tax laws is required. Employers may wish to consult their state tax counsel." (Pillsbury Winthrop LLP)
Troubling 9th Circuit Decision Expands Anti-Cutback Rule to Protect Future Accruals
Michael v. Riverside Cement Co. Pension Plan (9th Cir., Sept. 17, 2001). Excerpt: "[Although] other courts are unlikely to follow the Ninth Circuit's lead, the decision may prompt participants to challenge typical plan amendments that reduce future accruals by 'wearing away' the value of existing accruals or early retirement subsidies." (Groom Law Group)
Opinion: Social Security Private Accounts Should Be Mandatory and Temporary (PDF)
Excerpt: "Whether individual accounts will work is a question that needs to be answered empirically rather than through endless hypothetical examples and ideological arguments. To gather empirical data, I propose that we divide the current Social Security program in two-- a defined-benefit social insurance component, as we have now, and a defined-contribution individual account, which would be new--in a national demonstration program." (Yung-Pin Chen in Contingencies magazine)
Uniformed Services Employment and Reemployment Rights Act of 1994 (USERRA)
Many employers and benefit plan administrators are now considering the effect of USERRA, which provides reemployment and benefits rights to military reservists and others who return to civilian employment after most types of leave of absence 'uniformed services' duty. During such leave, employees are entitled to the same benefits, if any, as other employees on leave of absence or furlough. This article outlines statutory provisions and addresses benefits issues likely to arise under USERRA. (Sanders, Schnabel & Brandenburg, P.C.)
Speech (Real Audio format): How the Rules of Executive Compensation Have Changed
Mr. Bassick addressed the National Association of Stock Plan Professionals at its recent 9th annual conference. (Webb Bassick of Hay Group)
Newly Posted or Renewed Job Openings (Post Yours!)
| Account Manager | for US Bank in NE |
| Senior Manager-Employee Benefits Contracts and Compliance | for Futurestep in IL |
| Benefits Representative | for HCA in TN |
| Senior Regulatory & Compliance Specialist | for US Airways in VA |
| Qualified Pension Administrator | for B & B Benefits Administration, Inc. in CA |
| enrolled actuary | for Chicago Pension Firm in IL |
| Technical Specialist-Retirement Operations | for Edward Jones in MO |
| Benefits Manager | for Florida Power & Light Company in FL |
Newly Posted Conferences (Post Yours!)
| Fundamentals of Employee Benefits Law | in FL on February 28, 2002 presented by ALI-ABA (American Law Institute-American Bar Association Committee on Continuing Professional Education) |
| Annual Spring Employee Benefits Law and Practice Update | in ALL STATES on April 18, 2002 presented by ALI-ABA (American Law Institute-American Bar Association Committee on Continuing Professional Education) |
| Pension, Profit-Sharing, Welfare, and Other Compensation Plans | in CA on March 20, 2002 presented by ALI-ABA (American Law Institute-American Bar Association Committee on Continuing Professional Education) |
| Conference on Life and Health Insurance | in DC on May 2, 2002 presented by ALI-ABA (American Law Institute-American Bar Association Committee on Continuing Professional Education) |
| Employee Benefits Litigation | in DC on May 2, 2002 presented by ALI-ABA (American Law Institute-American Bar Association Committee on Continuing Professional Education) |
| Executive Compensation | in NY on June 13, 2002 presented by ALI-ABA (American Law Institute-American Bar Association Committee on Continuing Professional Education) |
| Retired, Deferred Compensation, and Welfare Plans of Tax-Exempt and Governmental Employees | in DC on September 12, 2002 presented by ALI-ABA (American Law Institute-American Bar Association Committee on Continuing Professional Education) |
| Pension, Profit-Sharing, Welfare, and Other Compensation Plans | in DC on October 10, 2002 presented by ALI-ABA (American Law Institute-American Bar Association Committee on Continuing Professional Education) |
| The 2002 Nondiscrimination Testing Symposium | in CA on February 8, 2002 presented by Larry Deutsch's Penquin Consulting and Design Ltd. |
| The Employer's Obligations Regarding Military Reservist Employees | in NY on November 27, 2001 presented by NYC Chapter of WEB |
Newly Posted Press Releases
| CNA Trust Hires Kim A. Cooley To Manage Company's Midwest Region (CNA Trust) |
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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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