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The BenefitsLink Newsletter -
Retirement Plans Edition
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June 27, 2002 - 11,391 subscribers
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IRS Reissues EPCRS Revenue Procedure (PDF)
Rev. Proc. 2002-47; 97 pages. Excerpt: "This revenue procedure updates the comprehensive system of correction programs for sponsors of retirement plans that are intended to satisfy the requirements of sections 401(a), 403(a), 403(b), or 408(k) ... but that have not met these requirements for a period of time. This system, the Employee Plans Compliance Resolution System ('EPCRS'), permits plan sponsors to correct these failures ..." (Internal Revenue Service)

IRS Explains How Prohibited Transaction Taxes Computed on Bad Plan Loan Over Several Years (PDF)
Excerpt: "When a loan from a qualified plan that is a prohibited transaction spans successive taxable years, and thus constitutes multiple prohibited transactions, and during those years the first tier prohibited transaction excise tax rate under section 4975 of the Internal Revenue Code changes, how is the excise tax computed?" (Internal Revenue Service)

IRS Requests Comments on Upcoming DB Plan Regs on Optional Forms of Benefit (PDF)
Excerpt: "The Service and Treasury intend to issue proposed regulations under section 411(d)(6) of the Code with respect to optional forms of benefit under defined benefit plans. Consequently, comments are requested on which optional forms of benefit (including early retirement benefits and retirement-type subsidies) should be permitted to be eliminated and the circumstances under which they should be permitted to be eliminated, consistent with section 411(d)(6)(B) as amended by EGTRRA." (Internal Revenue Service)

WorldCom Employees Left Angry, Gloomy
Excerpt: "Inside WorldCom, employees say they long ago started laughing when the company gave them stock options as an incentive ... WorldCom did not require any 401(k) retirement money to be put in company stock, but many employees elected to do so, and many others bought WorldCom shares under the assumption that the price had bottomed out from $69 three years ago to $48 two years ago to $15 one year ago, and now shares have dropped to 10 cents ..." (USA Today via Yahoo! News)

New Research on the Integration of Pensions Across Europe
Press release. Excerpt: "The European Financial Services Round Table (EFR) has ... published a new report into the benefits of a single European market for pensions and how it can be achieved. It demonstrates forcefully that the completion of the single market for pensions in Europe would create substantial benefits for consumers across Europe, and also for economic growth." (PR Newswire via Yahoo! News)

Ex-Troopers in New Jersey Racial Profiling Case Denied Pensions
Excerpt: "Two state troopers who pleaded guilty to misconduct in a shooting on the New Jersey Turnpike that exposed the practice of racial profiling were denied pension benefits Wednesday." (AP via Yahoo! News)

Steelworkers Union Opposes Termination of Pension Plan by PBGC
Excerpt: "Concerned that union members will be shortchanged by government assumptions, the United Steelworkers of America have filed a motion opposing the termination of two pension plans. The motion, filed in the US District Court for the Northern District of Ohio, seeks to oppose the termination of two pension plans that cover union members at Republic Technologies International (RTI)." (PLANSPONSOR.com)



Links to Items on Executive Comp, Benefits in General
(These items appear in both editions of the BenefitsLink Newsletter)

Text of IRS Notice Suspending Proposed Application of Employment and Income Taxes to ISOs, ESPPs (PDF)
Notice 2002-47. Excerpt: "[U]ntil Treasury and the Service issue further guidance, in the case of a statutory stock option, i.e., an incentive stock option (ISO) ... or an option granted under an employee stock purchase plan (ESPP) ... the Service will not assess the [FICA] tax or [FUTA] tax, or apply federal income tax withholding obligations, upon either the exercise of the option or the disposition of the stock acquired by an employee pursuant to the exercise of the option." (Internal Revenue Service)




Newly Posted or Renewed Job Openings - Post a Help Wanted Ad
Trust Fund Administrator for Trust Fund Administrator
in DC
Paralegal for Polese, Pietzsch, Williams & Nolan, P.A.
in AZ
Proposal/Technical Writer for Aon Consulting - Executive Benefits
in GA
Employee Benefits Associate for 15 Attorney, Los Angeles, labor / employee benefits law firm
in CA
Senior ERISA Documents Technician (JO#313) for Third Party Administration Firm in MN
in MN
Pension Administrator for The Benefits Consulting Group
in IL
Employee Benefits Attorney for Sinclair, Haynes & Cowing, P.C.
in KS, MO



Newly Posted Webcasts (Post Yours!)
Top Heavy Under EGTRRA on July 23, 2002
presented by ASPA



Newly Posted Conferences (Post Yours!)
FMLA, COBRA (including HIPAA portability), Section 125, and HIPAA Privacy - Davenportin IA on October 1, 2002
presented by A.E. Roberts Company
FMLA, COBRA (including HIPAA portability), Section 125, and HIPAA Privacy - Mobilein AL on October 1, 2002
presented by A.E. Roberts Company
FMLA, COBRA (including HIPAA portability), Section 125, and HIPAA Privacy - Minneapolisin MN on October 1, 2002
presented by A.E. Roberts Company
FMLA, COBRA (including HIPAA portability), Section 125, and HIPAA Privacy - Indianapolisin IN on October 1, 2002
presented by A.E. Roberts Company
FMLA, COBRA (including HIPAA portability), Section 125, and HIPAA Privacy - Boisein ID on October 8, 2002
presented by A.E. Roberts Company
FMLA, COBRA (including HIPAA portability), Section 125, and HIPAA Privacy - Nashvillein TN on October 8, 2002
presented by A.E. Roberts Company
FMLA, COBRA (including HIPAA portability), Section 125, and HIPAA Privacy - Birminghamin AL on October 8, 2002
presented by A.E. Roberts Company
FMLA, COBRA (including HIPAA portability), Section 125, and HIPAA Privacy - Chicago O'Harein IL on October 8, 2002
presented by A.E. Roberts Company
FMLA, COBRA (including HIPAA portability), Section 125, and HIPAA Privacy - Des Moinesin IA on October 8, 2002
presented by A.E. Roberts Company
FMLA, COBRA (including HIPAA portability), Section 125, and HIPAA Privacy - Seattlein WA on October 15, 2002
presented by A.E. Roberts Company
FMLA, COBRA (including HIPAA portability), Section 125, and HIPAA Privacy - Memphisin TN on October 15, 2002
presented by A.E. Roberts Company
FMLA, COBRA (including HIPAA portability), Section 125, and HIPAA Privacy - Omahain NE on October 15, 2002
presented by A.E. Roberts Company
FMLA, COBRA (including HIPAA portability), Section 125, and HIPAA Privacy - Anchoragein AK on October 15, 2002
presented by A.E. Roberts Company
FMLA, COBRA (including HIPAA portability), Section 125, and HIPAA Privacy - Louisvillein KY on October 15, 2002
presented by A.E. Roberts Company
FMLA, COBRA (including HIPAA portability), Section 125, and HIPAA Privacy - New Orleansin LA on October 22, 2002
presented by A.E. Roberts Company
FMLA, COBRA (including HIPAA portability), Section 125, and HIPAA Privacy - Evansvillein IN on October 22, 2002
presented by A.E. Roberts Company
FMLA, COBRA (including HIPAA portability), Section 125, and HIPAA Privacy - Ft. Lauderdalein FL on October 22, 2002
presented by A.E. Roberts Company
FMLA, COBRA (including HIPAA portability), Section 125, and HIPAA Privacy - Portlandin OR on October 22, 2002
presented by A.E. Roberts Company
FMLA, COBRA (including HIPAA portability), Section 125, and HIPAA Privacy - Peoriain IL on October 22, 2002
presented by A.E. Roberts Company
FMLA, COBRA (including HIPAA portability), Section 125, and HIPAA Privacy - Lexingtonin KY on October 29, 2002
presented by A.E. Roberts Company
FMLA, COBRA (including HIPAA portability), Section 125, and HIPAA Privacy - Knoxvillein TN on October 29, 2002
presented by A.E. Roberts Company
FMLA, COBRA (including HIPAA portability), Section 125, and HIPAA Privacy - Jacksonin MS on October 29, 2002
presented by A.E. Roberts Company
FMLA, COBRA (including HIPAA portability), Section 125, and HIPAA Privacy - Atlantain GA on October 29, 2002
presented by A.E. Roberts Company
"The Data Center of the Future: Emerging Technologies"in NY on September 19, 2002
presented by Marist College, IBM



Newly Posted Press Releases
Buenfuturo, LLC Launches Innovative Bilingual Retirement Planning Education Software (Buenfuturo LLC)

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