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BenefitsLink
Retirement Plans
Newsletter
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November 27, 2002 - 12,959 subscribers
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Second Thoughts About 401(k) Default Investment Options
Excerpt: "Many plan sponsors select a money market account or stable-value fund as the default investment option (or default account) for non-participant-directed funds. In some instances, this choice is specified in an investment provider's prototype plan document. However, fiduciaries can take little comfort from that." (PLANSPONSOR magazine; free registration required)

United Airlines Stock Falls as ESOP Prepares to Sell More Shares
Excerpt: "United Airlines parent UAL Corp. shares tumbled by better than 8 percent amid news that the company's employee stock-ownership plan has upped -- again -- the number of shares it wants to unload." (CBS.MarketWatch.com)

Legislators Urge Wisconsin Governor to Keep Hands Off State Pension Fund Despite Budget Concerns
Excerpt: "State lawmakers Tuesday warned against raiding the state pension fund to help solve the gaping budget deficit, as Governor-elect Jim Doyle sought to deflect worries he might do just that." (The Milwaukee Journal Sentinel)

Steelworkers Walk Off Job Over Proposal to Replace DB Plan with 401(k) Plan
Excerpt: "Dozens of unionized workers at a steel plant have walked off the job after complaining the company wants to replace a pension plan with a 401(k) plan. The 56 union workers at Dave Steel Co. in Asheville [N.C.] rejected the company's proposal late last week and voted to strike." (The Charlotte Observer)


Links to Items on Executive Comp, Benefits in General

Identity Theft on the Rise; Make Sure Benefits Department Is Not Part of the Problem
Excerpt: "Four years ago, identity theft wasn't even designated a crime; today, it's a felony under the federal Identity Theft and Assumption Deterrence Act of 1998 and ranks as the nation's top consumer fraud complaint, according to the Federal Trade Commission (FTC) in Washington, D.C." (HR Magazine)




Newly Posted or Renewed Job Openings
Post a Help Wanted Ad

Technical Specialist - Retirement - QPA
for Edward Jones
in MO

Pension Administrator
for CNA Trust
in IL

Trust Admin.-Employee Benefits
for Hancock Bank
in MS

Benefit & Communication Representative
for American United Life Insurance Company
in NC

Senior Benefits Specialist
for Diversified Entertainment Company
in CT, NJ, NY

Compliance Specialist in retirement and health plan administration
for Suburban Denver office of a national consulting and actuarial firm
in CO

Plan Administrator
for Interactive Retirement Systems, Ltd.
in MN

Conversion Consultant
for CNA Trust
in CA

Retirement Services Specialist
for Northern Trust Retirement Consulting, L.L.C.
in WA




Newly Posted Conferences
(Post Yours!)

HIPAA Compliance Strategy Seminar
in CA
December 12, 2002
ArlenGroup and Thelen Reid & Priest LLP




Newly Posted Press Releases
(Post Yours!)

FRANKLIN TEMPLETON INVESTMENTS ANNOUNCES NEW CAMPAIGN
(Franklin Templeton Investments)

Franklin Templeton Renews Agreement with Morningstar, Makes Morningstar® ClearFuture® Guidance Available to 868,400 Retirement Plan Participants
(Franklin Templeton Investments)


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