| BenefitsLink Retirement Plans Newsletter |   |
January 7, 2003 - 12,880 subscribers
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(Help BenefitsLink to provide this newsletter at no charge to you -- our sponsors pay your way. Remember to visit them periodically; we try to make sure their products and services will be of interest to you. Thanks! --Editor)
DOL Requests Assistance in Drafting of ERISA Safe Harbor Regs for Automatic Rollovers
EGTRRA directs the DOL to develop regulations that provide safe harbors relating to the automatic rollovers of certain mandatory tax-qualified plan distributions to IRAs. The designation of an institution and the investment of funds by a plan administrator to receive automatic rollovers would be deemed to satisfy the fiduciary requirements of section 404(a) of ERISA. This document requests information from the public on issues relating to the development of the regulations. (U.S. Department of Labor, Pension and Welfare Benefits Administration)
New IRS Rules Disturb Cash Balance Conversion Foes
Excerpt: "Critics charge that the method of establishing the initial cash contribution and the process for building the phantom account leave older workers short of what they would need to purchase, at age 65, an annuity equal to the previously promised pension benefit." (Chicago Tribune via NewsAlert.com)
Another Question is Answered in the Distributions: Taxation and Planning Q&A Column
In response to Q&A 20 dealing with the issue of SEP-IRAs (IRAs that qualify as Simplified Employee Pensions) and ERISA creditor protection, a commenter raised the 6th Circuit decision, Lampkins v. Golden, noting 'The facts here are bad and so is the decision.' So, should a person roll an IRA into a SEP-IRA, and are these assets protected from creditors? (BenefitsLink.com)
Links to Items on Executive Comp, Benefits in General
The U.S. Aging Crisis Revisited
Excerpt: "Reviewing new and emerging research that bears on the likely dimensions and consequences of population aging, the report focuses on research dealing with demographic, health, and economic issues surrounding population aging. The analysis concentrates primarily on research dealing with the United States ... It concludes with a discussion of implications for the way both individuals and policymakers think about retirement planning for an aging population." (AARP)
ABA Tax Section Members File Comments on Proposed IRS Regulations on Split-Dollar Life Insurance (PDF)
30 pages; dated Dec. 31, 2002. Excerpt: "On July 9, 2002, Treasury issued extensive proposed regulations concerning split-dollar life insurance arrangements and their treatment for income, payroll and transfer tax purposes. Consistent with Notice 2002-8, equity split-dollar life insurance arrangements would be subject to tax depending upon the ownership of the policy under one of two mutually exclusive regimes." (Members of the American Bar Association, Section on Taxation)
The Unnoticed Pay Gap: CEO-to-CEO
Excerpt: "What could possibly explain the pay gap as wide as the one between Berkshire Hathaway Inc.'s Warren Buffett -- who earned an average of $350,000 a year over a three-year period -- and Citigroup Inc.'s Sandy Weill -- $127.5 million a year, or 364 times as much during the same time?" (Graef Crystal on Bloomberg.com)
Newly Posted or Renewed Job Openings
Qualified Plan Administrator - Valparaiso, Indiana
for Pension Consulting Services, Inc.
in IN
401(k) Implementation Specialist
for PFPC
in MN
Retirement Plan Services Manager
for Fifth Third Bank
in OH
Defined Benefit Plan Administrator
for Pension Investors Corp. of Orlando
in FL
Trust Business Development Representative
for Regions Financial Corporation
in LA
Project Manager for Implementations
for Northern Trust Retirement Consulting, L.L.C.
in GA
Implementations Specialist (Senior)
for Northern Trust Retirement Consulting, L.L.C.
in GA
Defined Contribution Plan Administrator
for R. J. Michalski, Inc.
in CT
401k Client Relationship Manager
for Great West Life & Annuity
in PA, TN
Benefits Manager
for The First Church of Christ, Scientist
in MA
Defined Contribution Plan Administrator
for Plan Consulting and Administration Firm
in OH
Newly Posted Webcasts
(Post Yours!)
Consumer-Driven Health Benefits
on January 6, 2003
presented by Employee Benefit News
Health Reimbursement Arrangements
on January 16, 2003
presented by International Foundation of Employee Benefit Plans
Sarbanes-Oxley Act of 2002 - A Changing World for Accounting, Executive Compensation and Benefits
on January 22, 2003
presented by International Foundation of Employee Benefit Plans
Newly Posted Conferences
(Post Yours!)
16th Annual Employee Benefits Management Forum & Expo
in CA
September 21, 2003
Employee Benefit News
Pension Legislation and Regulatory Developments
in FL
January 14, 2003
Employee Benefits Council of Central Florida
Handy Links:
- View Today's Active Message Threads
- Search BenefitsLink
- Using the Web for Employee Benefits Research
- Employee Benefits Library
Feel free to send this email to friends, colleagues or clients, if you copy or forward this email in its entirety (including this boilerplate part). Copyright 2003 BenefitsLink.com, Inc.
Published by:
BenefitsLink.com, Inc.
https://benefitslink.com/about.html
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(407) 644-4146
Fax: (407) 644-2151
Editor and Publisher: David Rhett Baker, J.D.
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