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The BenefitsLink Newsletter -
Retirement Plans Edition
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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)

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


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 - Post a Help Wanted Ad
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Customer Service for BISYS
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Client Service Manager, Health and Welfare plans for Leading Benefits Outsourcing Company In Northeast
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Newly Posted Conferences (Post Yours!)
The Ultimate Conference on Tax Planning with Retirement Assetsin CT on June 13, 2002
presented by Professional Education Systems Institute, LLC
Employee Benefit Communication Utilizing Technologyin MA on February 27, 2002
presented by WEB - Worldwide Employee Benefits Network Mass Metrowest Chapter
Trends in Executive Compensationin MA on March 27, 2002
presented by WEB - Worldwide Employee Benefits Network Mass Metrowest Chapter
Domestic Partner Benefitsin 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 - Spokanein WA on April 2, 2002
presented by A.E. Roberts Company
FMLA, COBRA (including HIPAA portability), Section 125, and HIPAA Privacy - Tampain FL on April 2, 2002
presented by A.E. Roberts Company
FMLA, COBRA (including HIPAA portability), Section 125, and HIPAA Privacy - Pittsburghin PA on April 2, 2002
presented by A.E. Roberts Company
FMLA, COBRA (including HIPAA portability), Section 125, and HIPAA Privacy - Jacksonvillein FL on April 9, 2002
presented by A.E. Roberts Company
FMLA, COBRA (including HIPAA portability), Section 125, and HIPAA Privacy - Helenain MT on April 9, 2002
presented by A.E. Roberts Company
FMLA, COBRA (including HIPAA portability), Section 125, and HIPAA Privacy - Charlestonin WV on April 9, 2002
presented by A.E. Roberts Company
FMLA, COBRA (including HIPAA portability), Section 125, and HIPAA Privacy - Providencein RI on April 9, 2002
presented by A.E. Roberts Company
FMLA, COBRA (including HIPAA portability), Section 125, and HIPAA Privacy - Columbusin OH on April 9, 2002
presented by A.E. Roberts Company
FMLA, COBRA (including HIPAA portability), Section 125, and HIPAA Privacy - Boisein ID on April 16, 2002
presented by A.E. Roberts Company
FMLA, COBRA (including HIPAA portability), Section 125, and HIPAA Privacy - Portlandin ME on April 16, 2002
presented by A.E. Roberts Company
FMLA, COBRA (including HIPAA portability), Section 125, and HIPAA Privacy - San Antonioin TX on April 16, 2002
presented by A.E. Roberts Company
FMLA, COBRA (including HIPAA portability), Section 125, and HIPAA Privacy - Orlandoin FL on April 16, 2002
presented by A.E. Roberts Company
FMLA, COBRA (including HIPAA portability), Section 125, and HIPAA Privacy - Virginia Beachin VA on April 22, 2002
presented by A.E. Roberts Company
FMLA, COBRA (including HIPAA portability), Section 125, and HIPAA Privacy - Clevelandin OH on April 23, 2002
presented by A.E. Roberts Company
FMLA, COBRA (including HIPAA portability), Section 125, and HIPAA Privacy - Ft. Lauderdalein FL on April 23, 2002
presented by A.E. Roberts Company
FMLA, COBRA (including HIPAA portability), Section 125, and HIPAA Privacy - Bostonin MA on April 23, 2002
presented by A.E. Roberts Company
FMLA, COBRA (including HIPAA portability), Section 125, and HIPAA Privacy - Austinin TX on April 23, 2002
presented by A.E. Roberts Company
FMLA, COBRA (including HIPAA portability), Section 125, and HIPAA Privacy - Portlandin OR on April 29, 2002
presented by A.E. Roberts Company
FMLA, COBRA (including HIPAA portability), Section 125, and HIPAA Privacy - Raleighin NC on April 30, 2002
presented by A.E. Roberts Company
FMLA, COBRA (including HIPAA portability), Section 125, and HIPAA Privacy - Anchoragein AK on April 30, 2002
presented by A.E. Roberts Company
FMLA, COBRA (including HIPAA portability), Section 125, and HIPAA Privacy - Nashvillein TN on April 30, 2002
presented by A.E. Roberts Company
FMLA, COBRA (including HIPAA portability), Section 125, and HIPAA Privacy - Green Bayin WI on April 30, 2002
presented by A.E. Roberts Company
FMLA, COBRA (including HIPAA portability), Section 125, and HIPAA Privacy - Little Rockin AR on May 7, 2002
presented by A.E. Roberts Company
FMLA, COBRA (including HIPAA portability), Section 125, and HIPAA Privacy - Baltimorein MD on May 7, 2002
presented by A.E. Roberts Company
FMLA, COBRA (including HIPAA portability), Section 125, and HIPAA Privacy - Sioux Fallsin SD on May 7, 2002
presented by A.E. Roberts Company
FMLA, COBRA (including HIPAA portability), Section 125, and HIPAA Privacy - Oklahoma Cityin OK on May 7, 2002
presented by A.E. Roberts Company
FMLA, COBRA (including HIPAA portability), Section 125, and HIPAA Privacy - Seattlein WA on May 14, 2002
presented by A.E. Roberts Company
FMLA, COBRA (including HIPAA portability), Section 125, and HIPAA Privacy - Knoxvillein TN on May 14, 2002
presented by A.E. Roberts Company
FMLA, COBRA (including HIPAA portability), Section 125, and HIPAA Privacy - Milwaukeein WI on May 14, 2002
presented by A.E. Roberts Company
FMLA, COBRA (including HIPAA portability), Section 125, and HIPAA Privacy - Las Vegasin NV on May 14, 2002
presented by A.E. Roberts Company
FMLA, COBRA (including HIPAA portability), Section 125, and HIPAA Privacy - Charlottein NC on May 14, 2002
presented by A.E. Roberts Company
FMLA, COBRA (including HIPAA portability), Section 125, and HIPAA Privacy - Washingtonin DC on May 20, 2002
presented by A.E. Roberts Company
FMLA, COBRA (including HIPAA portability), Section 125, and HIPAA Privacy - Fargoin ND on May 20, 2002
presented by A.E. Roberts Company
FMLA, COBRA (including HIPAA portability), Section 125, and HIPAA Privacy - Duluthin MN on May 20, 2002
presented by A.E. Roberts Company
FMLA, COBRA (including HIPAA portability), Section 125, and HIPAA Privacy - Memphisin TN on May 20, 2002
presented by A.E. Roberts Company
FMLA, COBRA (including HIPAA portability), Section 125, and HIPAA Privacy - Charlestonin SC on May 20, 2002
presented by A.E. Roberts Company



Newly Posted Press Releases (Post Yours!)
ARIOSO PROVIDES EFFICIENT BENEFIT SOLUTIONS FOR THE NEW ECONOMY (Arioso)

Subscribe to the Welfare Plans Edition, too (click)


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.