| The BenefitsLink Newsletter - Retirement Plans Edition |   |
February 21, 2002 - 12,350 subscribers
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Witness List and Written Statements: Enron and Beyond-- Enhancing Worker Retirement Security
From the February 13, 2002 hearing. Includes written statements from witnesses Dr. Jack L. VanDerhei, PhD, CEBS, Temple University; Dr. Douglas Kruse, PhD, Rutgers University; Mr. Norman Stein, University of Alabama School of Law; and Rebecca Miller, CPA, McGladrey & Pullen, LLP. (U.S. House of Representatives, Committee on Education and the Workforce)
Opinion: Boehner Investment Advice Bill is Flawed
Excerpt: "If there's any lesson to be learned from Enron, it's that conflicts of interest can be dangerous, even when they are disclosed. So it's hard to believe Congress is moving ahead with a bill that would create potential conflicts of interest in 401(k) plans." (San Francisco Chronicle)
Lawsuits Put Pressure On Companies To Change 401(k) Plan Rules
Excerpt: "Although there have been very few lawsuits won against employers who sponsor 401(k) plans, some experts say the mere threat of litigation may cause some firms to loosen restrictions on company stock." (San Francisco Chronicle)
Labor Department to Offer Early Retirements
Excerpt: "Employees are eligible for early retirement if they are at least 50 years old with 20 years of service, or if they are any age with 25 years of service.... [Secretary Elaine] Chao said Labor would not offer cash incentives to employees who opt for early retirement." (GovExec.com)
Overview: IRS Issues Proposed Regs in Connection with Golden Parachute Payments
Excerpt: "The determination of who is a disqualified individual [has] three significant changes. First, the $1 million test for value of stock owned has been eliminated.... Second, the newly proposed regulations modify the annualized compensation method for determining who is a highly compensated individual ... Third, the new regs change the disqualified individual determination period to the 12 months prior to and ending on the date of the change in ownership or control of the corporation." (National Association of Stock Plan Professionals)
Revenue Procedure 2002-13 Sets Forth Safe Harbor Valuation of Compensatory Stock Options
Excerpt: "This revenue procedure provides guidance for valuing stock options, including a safe harbor for valuing compensatory stock options for purposes of §§ 280G and 4999 of the Internal Revenue Code. The Internal Revenue Service will treat the value of a compensatory stock option determined in accordance with the requirements of this revenue procedure as properly determined for purposes of §§ 280G and 4999." (Internal Revenue Service)
Study Finds 91% of Companies Use Web For Communication
Ninety-one percent of companies use the Web to communicate with employees, and 48% give employees the ability to manage certain services on their own, such as enrolling in benefit plans or training courses, according to the latest e-Track survey on Web-based HR self-service conducted by Towers Perrin. The Web has revolutionized the way companies reach employees with information and basic human resource services, but the full potential of the Internet still has not been fully realized. (Spencernet)
Lawsuit Seeking Benefits Under ERISA Sec. 510 Was Barred By Statute of Limitations: Court
The First Circuit U.S. Court of Appeals has ruled that a former employee's lawsuit seeking to recover benefits under ERISA Sec. 510 was barred by the applicable state statute of limitations. The ruling came in Muldoon v. C.J. Muldoon & Sons, et al. (Nos. 01-1516 and 01-1845). (Spencernet)
Newly Posted or Renewed Job Openings -
| Senior Investment Sales Representative | for Independent Money Manager in Western New York in NY |
| Customer Service | for BISYS in PA |
| Client Service Manager, Health and Welfare plans | for Leading Benefits Outsourcing Company In Northeast in |
| Dedicated Call Center - Account Manager | for Transamerica in CA |
Newly Posted Conferences (Post Yours!)
| The Ultimate Conference on Tax Planning with Retirement Assets | in CT on June 13, 2002 presented by Professional Education Systems Institute, LLC |
| Employee Benefit Communication Utilizing Technology | in MA on February 27, 2002 presented by WEB - Worldwide Employee Benefits Network Mass Metrowest Chapter |
| Trends in Executive Compensation | in MA on March 27, 2002 presented by WEB - Worldwide Employee Benefits Network Mass Metrowest Chapter |
| Domestic Partner Benefits | in MA on April 18, 2002 presented by WEB - Worldwide Employee Benefits Network Mass Metrowest Chapter |
| FMLA, COBRA (including HIPAA portability), Section 125, and HIPAA Privacy - Spokane | in WA on April 2, 2002 presented by A.E. Roberts Company |
| FMLA, COBRA (including HIPAA portability), Section 125, and HIPAA Privacy - Tampa | in FL on April 2, 2002 presented by A.E. Roberts Company |
| FMLA, COBRA (including HIPAA portability), Section 125, and HIPAA Privacy - Pittsburgh | in PA on April 2, 2002 presented by A.E. Roberts Company |
| FMLA, COBRA (including HIPAA portability), Section 125, and HIPAA Privacy - Jacksonville | in FL on April 9, 2002 presented by A.E. Roberts Company |
| FMLA, COBRA (including HIPAA portability), Section 125, and HIPAA Privacy - Helena | in MT on April 9, 2002 presented by A.E. Roberts Company |
| FMLA, COBRA (including HIPAA portability), Section 125, and HIPAA Privacy - Charleston | in WV on April 9, 2002 presented by A.E. Roberts Company |
| FMLA, COBRA (including HIPAA portability), Section 125, and HIPAA Privacy - Providence | in RI on April 9, 2002 presented by A.E. Roberts Company |
| FMLA, COBRA (including HIPAA portability), Section 125, and HIPAA Privacy - Columbus | in OH on April 9, 2002 presented by A.E. Roberts Company |
| FMLA, COBRA (including HIPAA portability), Section 125, and HIPAA Privacy - Boise | in ID on April 16, 2002 presented by A.E. Roberts Company |
| FMLA, COBRA (including HIPAA portability), Section 125, and HIPAA Privacy - Portland | in ME on April 16, 2002 presented by A.E. Roberts Company |
| FMLA, COBRA (including HIPAA portability), Section 125, and HIPAA Privacy - San Antonio | in TX on April 16, 2002 presented by A.E. Roberts Company |
| FMLA, COBRA (including HIPAA portability), Section 125, and HIPAA Privacy - Orlando | in FL on April 16, 2002 presented by A.E. Roberts Company |
| FMLA, COBRA (including HIPAA portability), Section 125, and HIPAA Privacy - Virginia Beach | in VA on April 22, 2002 presented by A.E. Roberts Company |
| FMLA, COBRA (including HIPAA portability), Section 125, and HIPAA Privacy - Cleveland | in OH on April 23, 2002 presented by A.E. Roberts Company |
| FMLA, COBRA (including HIPAA portability), Section 125, and HIPAA Privacy - Ft. Lauderdale | in FL on April 23, 2002 presented by A.E. Roberts Company |
| FMLA, COBRA (including HIPAA portability), Section 125, and HIPAA Privacy - Boston | in MA on April 23, 2002 presented by A.E. Roberts Company |
| FMLA, COBRA (including HIPAA portability), Section 125, and HIPAA Privacy - Austin | in TX on April 23, 2002 presented by A.E. Roberts Company |
| FMLA, COBRA (including HIPAA portability), Section 125, and HIPAA Privacy - Portland | in OR on April 29, 2002 presented by A.E. Roberts Company |
| FMLA, COBRA (including HIPAA portability), Section 125, and HIPAA Privacy - Raleigh | in NC on April 30, 2002 presented by A.E. Roberts Company |
| FMLA, COBRA (including HIPAA portability), Section 125, and HIPAA Privacy - Anchorage | in AK on April 30, 2002 presented by A.E. Roberts Company |
| FMLA, COBRA (including HIPAA portability), Section 125, and HIPAA Privacy - Nashville | in TN on April 30, 2002 presented by A.E. Roberts Company |
| FMLA, COBRA (including HIPAA portability), Section 125, and HIPAA Privacy - Green Bay | in WI on April 30, 2002 presented by A.E. Roberts Company |
| FMLA, COBRA (including HIPAA portability), Section 125, and HIPAA Privacy - Little Rock | in AR on May 7, 2002 presented by A.E. Roberts Company |
| FMLA, COBRA (including HIPAA portability), Section 125, and HIPAA Privacy - Baltimore | in MD on May 7, 2002 presented by A.E. Roberts Company |
| FMLA, COBRA (including HIPAA portability), Section 125, and HIPAA Privacy - Sioux Falls | in SD on May 7, 2002 presented by A.E. Roberts Company |
| FMLA, COBRA (including HIPAA portability), Section 125, and HIPAA Privacy - Oklahoma City | in OK on May 7, 2002 presented by A.E. Roberts Company |
| FMLA, COBRA (including HIPAA portability), Section 125, and HIPAA Privacy - Seattle | in WA on May 14, 2002 presented by A.E. Roberts Company |
| FMLA, COBRA (including HIPAA portability), Section 125, and HIPAA Privacy - Knoxville | in TN on May 14, 2002 presented by A.E. Roberts Company |
| FMLA, COBRA (including HIPAA portability), Section 125, and HIPAA Privacy - Milwaukee | in WI on May 14, 2002 presented by A.E. Roberts Company |
| FMLA, COBRA (including HIPAA portability), Section 125, and HIPAA Privacy - Las Vegas | in NV on May 14, 2002 presented by A.E. Roberts Company |
| FMLA, COBRA (including HIPAA portability), Section 125, and HIPAA Privacy - Charlotte | in NC on May 14, 2002 presented by A.E. Roberts Company |
| FMLA, COBRA (including HIPAA portability), Section 125, and HIPAA Privacy - Washington | in DC on May 20, 2002 presented by A.E. Roberts Company |
| FMLA, COBRA (including HIPAA portability), Section 125, and HIPAA Privacy - Fargo | in ND on May 20, 2002 presented by A.E. Roberts Company |
| FMLA, COBRA (including HIPAA portability), Section 125, and HIPAA Privacy - Duluth | in MN on May 20, 2002 presented by A.E. Roberts Company |
| FMLA, COBRA (including HIPAA portability), Section 125, and HIPAA Privacy - Memphis | in TN on May 20, 2002 presented by A.E. Roberts Company |
| FMLA, COBRA (including HIPAA portability), Section 125, and HIPAA Privacy - Charleston | in SC on May 20, 2002 presented by A.E. Roberts Company |
Newly Posted Press Releases
| ARIOSO PROVIDES EFFICIENT BENEFIT SOLUTIONS FOR THE NEW ECONOMY (Arioso) |
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Copyright 2002 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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