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The BenefitsLink Newsletter -
Retirement Plans Edition
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January 16, 2002 - 12,869 subscribers
Today's sponsor: The Plan Sales System

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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)

Enhancement of Teachers' Pension Benefits Plus Stock Market Decline Equals Higher Taxes
Excerpt: "As a result, the [Pennsylvania Public School Employees Retirement System] quintupled the contribution rate school districts will have to pay in 2002-03. Instead of this year's 1.09 percent of payroll, districts will pay 5.64 percent.... That could mean higher property tax bills for homeowners." (phillyBurbs.com)

Unexpected Demand and Backlog Result in Delays with New IRS Toll-Free Number for Requesting EINs
Excerpt: "The IRS on January 15 posted a problem alert to its website (www.irs.gov), indicating that taxpayers and their representatives who have been attempting to use a new toll-free telephone number since January 2 to request employer identification numbers (EINs) have been experiencing busy signals." (CCH)

Opinion: Advisor Fees, Revisited
Excerpt: "Two recent columns about the true cost of money management brought a wave of reader mail filled with questions, objections, and defenses. The majority of the messages were from people on the sell side who felt I was being unfair and had something against people in the financial services industry." (Scott Burns of The Dallas Morning News)

CalPERS Official Proposes Corporate Governance Standards to Limit Company Stock in Plans
Excerpt: "A California official is pressing two huge pension funds to enact stricter employee retirement plan rules in order to protect workers from corporate meltdowns like Enron Corp.'s, The Wall Street Journal reported on Wednesday." (Reuters via Yahoo! Finance)

(Following items are in both editions of the BenefitsLink Newsletter)

Summary of Final Regulation on Requests by DOL for SPDs, Plan Documents
Link to a brief article and discussion on our message boards; please join in if you have a comment about the final regulation. (BenefitsLink Message Boards)

Analysis: DOL Finalizes Regulations With Penalties for Failure to Produce Documents on DOL's Request
Excerpt: "The DOL's request for documents is limited to documents that a participant or beneficiary could examine and obtain ... 'Participant or beneficiary' is broadly defined for this purpose, specifically including even prospective alternate payees (under a qualified domestic relations order), prospective COBRA qualified beneficiaries, and prospective alternate recipients (under a qualified medical child support order)." (EBIA Weekly)

Quick Action Needed for Split-Dollar Tax Savings Opportunities
Excerpt: "With its release of Notice 2002-8, the IRS again announced its intent to change the tax treatment of split-dollar arrangements. Employers with existing split-dollar arrangements and those contemplating new arrangements need to act quickly. This Alert describes ways to take advantage of the grandfathering rules and executive benefit planning opportunities before the January 28, 2002 deadline." (Aon)

Analysis: IRS Takes Notice and Revokes Notice 2001-10 on Split-Dollar Arrangements
Excerpt: "A year after issuing the controversial Notice 2001-10, 2001-5 IRB 459 on split-dollar life insurance, the Internal Revenue Service has revoked the notice and reissued interim guidance. While Notice 2002-8, 2002-4 IRB 1, is not a complete reversal of last year's guidance, it does include changes that reflect an acknowledgement of the spate of criticism that Notice 2001-10 unleashed." (Tax Notes)

Newly Posted or Renewed Job Openings - Post a Help Wanted Ad
Defined Contribution Enrollment Specialist for Diversified Investment Advisors
Benefits Attorney for Jackson Lewis Schnitzler & Krupman
Business Retirement Specialist for Franklin Templeton Investments
Defined Contribution/401(k) Administrator/Consultant for Berlin, Ramos & Co., CPA's, Rockville, Maryland
Director of Sales - 401(k) and Benefits Plans for Hand Benefits & Trust
Defined Benefit Analyst for Paragon Consulting Group
Senior DC Consultant - Fun and Challenging! for Louis Kravitz & Associates, Inc.

Newly Posted Conferences (Post Yours!)
SunGard Corbel Advanced Pension Conferencein FL on September 11, 2002
presented by SunGard Corbel

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.