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Retirement Plans
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November 7, 2002 - 12,746 subscribers
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   Whether your market is retirement plans or health and welfare
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   third-party administrators, trust officers, attorneys,
   accountants, investment managers and highly-paid employee-owners.

CCH Perspective: Senate Republicans Discuss Tax Legislation Agenda
Excerpt: "Grassley will also lead an effort to pass pension reform legislation in the form of an SFC-approved bill, the National Employee Savings and Trust Equity Guarantee (NESTEG) Bill (Sen 1971) ... Lott agreed that pension reform is a must do, and specifically emphasized personal savings. 'We will take up pension reform to allow people more latitude in how they use their IRAs and how long they can keep their IRAs and 401(k) options,' he said." (CCH)

FAQs Regarding Amendments Required by the Community Renewal Tax Relief Act of 2000
Excerpt: "Do I need to amend my plan for CRA, even if I don't currently maintain a qualified transportation fringe benefit plan? [Answer:] Yes. Because determination letters are issued for the form of the plan, the plan must be amended for the CRA changes to ensure that it will remain qualified in form, even if the sponsoring employer later decides to offer qualified transportation fringe benefits." (Internal Revenue Service)

FAQs Regarding 403(b) Tax-Sheltered Annuities
Excerpt: "I am a TSA plan sponsor and all I do is deduct salary deferrals from employees' salaries and forward them to the annuity provider of their choice. Since I am not 'administering' the plan, I don't have any further responsibility, do I? ... What are the most common compliance failures in TSAs that have been examined by IRS? ... What are the new rollover rules beginning on or after January 1, 2002? ... Are the new catch-up provisions of EGTRRA subject to the non-discrimination rules?" (Internal Revenue Service)

FAQs Regarding Schedule Q (Form 5300) - Demo 6
Excerpt: "What information do I need to submit for a ruling under Code section 401(a)(4) using the general test? ... Can I still provide sample calculations? ... Must I use a testing age of 65? ... What is the minimum amount of information needed for Demo 6?" (Internal Revenue Service)

FAQs Regarding Required Minimum Distributions
Excerpt: "Can a designated beneficiary disclaim entitlement to a benefit? ... What clarifications have been made to the multiple beneficiary rule? ... When can an employee's account be divided into separate accounts so that each separate account may separately satisfy section 401(a)(9) following the employee's death?" (Internal Revenue Service)

Comedy Audio Excerpt: the Capitol Steps Singing Their Version of "401(k)" to the Tune of "YMCA"
For week of Oct. 13, 2002. Excerpt: "Americans opening their third quarter statements on their retirement and investment accounts have been in for a shock." (The Capitol Steps)

Links to Items on Executive Comp, Benefits in General

Will American Companies Fall In Line with IASB Standards on Stock Option Expensing?
Excerpt: "[T]he world's main accounting standard-setters this week joined the most important battle in their history: the attempt to make companies treat share-based payments to their employees as an expense. Up to now, companies have had the choice to record stock options only in the footnotes to their financial statements. Under a new draft rule from the International Accounting Standards Board (IASB), a private group based in London, companies will have to deduct them from their profits." (The Economist)

Newly Posted or Renewed Job Openings
Post a Help Wanted Ad

Conversion Participant Accounting Representative
for Marshall & Ilsley Corporation
in WI

Supervisor, Benefits
for MidAmerican Energy
in IA

Health Benefits Analysts
for an employee benefits, human resources consulting firm
in AZ

Compensation & Benefits Director
for Global Steel Manufacturer- Multi-Unit Facilities- Job In So. Calif.
in CA

Pension Consultant
for Swerdlin & Company
in GA

Newly Posted Conferences
(Post Yours!)

Securing The Future of Retirement: Redefining legal & regulatory requirements to minimize the risks of Defined Contribution Plans
in DC
January 15, 2003
Merrill Lynch & Certified Financial Planner - Board of Standards, Inc.

Newly Posted Press Releases
(Post Yours!)

Performax Delivers Enhanced Self-Service Internet Capabilities And Real-Time Information To Customers

Growing Numbers of Employers Are Embracing Long-Term Care Insurance: Special Section Featured in the Employee Benefits Journal
(International Foundation of Employee Benefit Plans)

Pension Industry Expert Joins SunGard Corbel Legal Staff
(SunGard Corbel)

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