| The BenefitsLink Newsletter - Retirement Plans Edition |  |
November 8, 2001 - 12,418 subscribers
Today's sponsor: RetireGuard - MassMutual
(Click on company name or banner to learn more.)
RetireGuard - An excellent benefit at an affordable cost! You understand how important it is for your employees to save for retirement, but what about protecting their contributions? MassMutual has a way to protect retirement dollars in the event of disability. While RetireGuardSM is not a pension program, nor a substitute for one, it helps ensure continuance of retirement savings contributions. Click on the banner above or visit our site at: http://www.massmutual.com/MMFinancial/Disability/0,4893,DI_RETIREGUARD,00.htm
(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)
Boehner Investment Advice Bill Approved by Ways and Means Committee, Will Go to House Vote
Excerpt: "The Ways & Means Committee approved the Retirement Security Advice Act authored by Education & the Workforce Chairman John Boehner (R-Ohio), by a vote of 25-15, largely along party lines." (PLANSPONSOR.com; free registration required)
Description of Amendment to Boehner Investment Advice Bill, Approved November 7 (PDF)
The amendment ('in the nature of a substitute to H.R. 2269') was approved by a voice vote of the Ways and Means Committee on November 7; it requires full disclosure of fees and potential conflicts of interest to qualify for an exemption to the usual prohibited transaction rules. (Joint Committee on Taxation)
Link to Full Text of Amended Boehner Investment Advice Bill Approved by Ways and Means Committee (PDF)
17 pages. (U.S. House of Representatives, Committee on Ways and Means)
How Employers Choose Funds to Offer in Their 401(k) Plans
Excerpt: "The process of selecting 401(k) plan investments is not haphazard. Employers are required by law to use reasonable methods to cull this wide field in order to present your plan's choices. And some plan providers offer an additional level of vetting." (mPower Cafe)
Judge Lets N.Y. Life Employees Sue
Excerpt: "New York Life Insurance Co. employees who claim the company improperly used retirement funds as 'seed money' for a new line of mutual funds will be allowed to pursue a class action suit on behalf of nearly 50,000 workers." (StarTribune.com)
The Economy and the Market: Are the Worst Days Over?
Excerpt: "For the market as a whole, past performance is an indication of how it will perform in the future, Lawrence Chimerine, Ph.D., assured financial planners ... [he] explained that, while many clients may be nervous, the economy is in the midst of a normal business cycle and will rebound in 2002. He expects choppy waters until the second half of next year before we begin to see sustained modest growth." (Practitioners Publishing Company)
As Stocks Fizzle, Equities Culture Fades
Excerpt: "Two years into the worst bear market in more than 25 years, the commonly accepted idea that putting money into equities is the path to wealth and a plush retirement is under serious threat. What's more, the comfortable and hitherto profitable assumptions of the asset management business, which has bet billions building an industry to sell equity investment to the masses, are also facing their sternest test in a generation." (Reuters Health via Excite News)
Compensating of Reservists Looms Larger If War Persists
Excerpt: "Most municipalities have responded by guaranteeing their reservist employees their benefits, seniority and pay -- covering the difference between their military and civilian salaries -- through the end of the year, while others, such as West Seneca, have extended it for 90 days." (Buffalo News via IFEBP)
Newly Posted or Renewed Job Openings (Post Yours!)
| Pension Administrator | for Means & Associates, LLC in CA |
| Pension Representative | for Third-Party Administrator in WA |
| Vice President - Public Sector Recordkeeping | for CitiStreet - A State Street and Citigroup company in FL |
| Human Resource Program Manager | for USAA in TX |
| 401(k)/Pension Administrator | for Century Benefits Consulting in CA |
| Pension Plan Administrator | for Fred S. Shapiro & Assoc., Inc. in MD |
Newly Posted Conferences (Post Yours!)
| The Health of the Southern California Economy | in CA on November 30, 2001 presented by Employee Benefit Planning Association of Southern California |
| Complying With An ERISA Part 7 DOL Audit | in CA on November 28, 2001 presented by The Los Angeles Chapter of International Society of Certified Employee Benefit Specialists |
Newly Posted Press Releases
| MyBenefitSource Payroll Solutions Available Online Through CPA2Biz (MyBenefitSource) |
| OnQue Technologies, Inc. Releases COBRA Administration Software (OnQue Technologies, Inc.) |
| 1Point Launches The SafeSolo401K® Plan (1Point Administrative Services) |
Subscribe to the Welfare Plans Edition, too (click)
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.
- How to Sponsor an Issue: reach 12,418 benefits professionals!
- How to Subscribe
- Privacy Policy
- Archive of Prior Issues