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October 10, 2002 - 12,057 subscribers
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SunGard Corbel Publishes Checklist for Determining Deadline for GUST Amendments
3 pages, in MS Word format; click on the 'WorkSheet_for_GUST_deadline.doc' link on the targeted SunGard Corbel web page. Drafted by Robert M. Richter, J.D., LL.M. (SunGard Corbel)

Pooling of Mutual Funds and Group Annuity Contracts by Bank Custodian Approved for 403(b) Program (PDF)
4 pages; Private Letter Ruling 200240052 (July 8, 2002). (Internal Revenue Service)

American Benefits Council Provides Testimony on Proposed Minimum Distribution Rules for DB Plans (PDF)
Excerpt: "The proposed regulations ... contain a number of provisions that unnecessarily complicate the administration of defined benefit plans and that could represent a significant loss of value to plan participants.... First with respect to so called variable annuities ... the Council recommends that final regulations permit these annuities to be provided in or through a defined benefit plan ..." (American Benefits Council)

Audiotapes Available from October 8 Conference: '403(b) and 457 Plans-- Working Together'
Excerpt: "The panelists will provide an overview of the new 457 proposed regulations and the new rules provided under the Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA) and the Job Creation and Worker Assistance Act of 2002 (JCWAA), as well as important analysis and planning suggestions.' Speaking were Robert J. Architect, Internal Revenue Service; Cheryl Press, Internal Revenue Service; and Dan S. Brandenburg of Sanders, Schnabel & Brandenburg, PC. (ABA Joint Committee on Employee Benefits)

Links to Items on Executive Comp, Benefits in General

Analysis: Prohibition on Personal Loans to Directors and Executive Officers of Public Companies (PDF)
8 pages. Excerpt: "[T]he Sarbanes-Oxley Act of 2002 prohibits U.S. and non-U.S. public companies from making or arranging for a personal loan to any director or executive officer of the company ... Loans maintained on July 30, 2002 are 'grandfathered,' provided that they are not renewed or materially modified ... Caution is needed in interpreting the rule as it may apply to a number of common transactions involving executive officer and director compensation and benefits." (Sutherland Asbill & Brennan LLP)

Commentary: Scrambled Nest Eggs for Executives
Excerpt: "Ideas kicking around Congress and the Financial Accounting Standards Board (FASB) could leave many law-abiding senior executives with less than they planned to have at retirement.... Marvin Rotenberg, national director of retirement services at Fleet Private Clients Group, suggests removing company stock from a 401(k) and donating the shares to a charitable trust as a way of slashing tax bills." (

The Modern Tax History of Split Dollar Life Insurance
Excerpt: "[T]he now celebrated Rev. Rul. 64-328 ... articulated the basic tax rules that governed split dollar insurance for over 30 years. The principles set forth in that ruling continue, in some respects, to govern split dollar today." (Silverstein and Mullens: A Division of Buchanan Ingersoll)

New Ways to Retain and Reward Employees: Looking Beyond Stock Options
Excerpt: "More and more tech firms may be thinking outside the options box soon. Critics argue that stock options are not the only or the best way to provide a carrot to employees, and political momentum for options accounting reform is growing.... Even if options don't incite executives to commit fraud, they have drawbacks." (The Wharton School of the University of Pennsylvania)

Tape Available: Roadmap of Executive Compensation
$24 (two tapes), sold by the ABA. From the 2002 Annual Meeting of the ABA's Section of Business Law. (American Bar Association, Section of Business Law)

Tape Available: Employee Benefits In Business Failure and Restructuring
$24 (two tapes), sold by the ABA. From the 2002 Annual Meeting of the ABA's Section of Business Law. (American Bar Association, Section of Business Law)

Tape Available: Developments In Equity Compensation
$12, sold by the ABA. From the 2002 Annual Meeting of the ABA's Section of Business Law. (American Bar Association, Section of Business Law)

Tape Available: Annual Update on Employee Benefits & Executive Compensation Developments
$12, sold by the ABA. From the 2002 Annual Meeting of the ABA's Section of Business Law. (American Bar Association, Section of Business Law)

Newly Posted or Renewed Job Openings - Post a Help Wanted Ad

401k Client Relationship Manager / Bi-lingual
for Great West Life & Annuity
in TX

401k Client Relationship Manager
for Great West Life & Annuity
in DC, FL, IL, KS, MA, MI, MN, NC, OH, VA, WA

Pension Coordinator
for Directors Guild of America - Producer Pension and Health Plans
in CA

Project Manager
for The Paragon Consulting Group
in NJ

Sr. Functional Analysts - Pension
for Seurat Company
in FL

Trust Business Development Representative
for Regions Financial Corporation
in GA

Administrator: Defined Contribution Retirement Plans - Part or Full Time
for BSW Benefit Plans Plus, L.L.C.
in MO

Retirement Member Services Manager
for San Diego County Employees Retirement Association
in CA

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Editor and Publisher: David Rhett Baker, J.D.