| BenefitsLink Retirement Plans Newsletter |   |
March 28, 2003 - 13,054 subscribers
Today's sponsor: Actuarial Systems Corporation
(Click on company name or banner to learn more.)
ASC - QUALITY SOFTWARE FOR THE PENSION INDUSTRY FOR OVER 20 YEARS ASC provides complete automation for the pension office, including: DC/401(k) and DB administration and valuation systems, sophisticated Compliance Testing, DV Direct Daily Valuation, Advanced Information Manager Database (AIM), and Single-Step Processing. All ASC Technical Support Members were experienced Pension Administrators or Actuaries before joining ASC-- and most have been with ASC for over 10 years.
(Please visit our sponsors. We try to make sure their products and services will be of interest to you. Thanks! --Editor)
American Benefits Council Explains Why Pension Interest Rate Reform is Needed (PDF)
2 pages. Excerpt: "Enactment of Permanent Interest Rate Replacement for Pension Plans is Critical for Retirement Security and Economic Recovery" (American Benefits Council)
Wheeling Steel Fighting PBGC Over Pension Fund
Excerpt: "The parent of Wheeling-Pittsburgh Steel Corp. is fighting the federal government's attempt to take over its underfunded pension plan. In documents filed with U.S. District Court in New York, WHX Corp. called the maneuver by Pension Benefit Guaranty Corp. 'arbitrary and capricious.'" (AP via Las Vegas Sun)
Senate Bill to Aid Charities Through IRA Rollovers Retooled
Excerpt: "Stripped of its faith-based language, the bill will now provide an array of tax incentives to encourage charitable contributions, including a tax deduction of $250 per person to people who do not take itemized deductions on their tax returns. People could roll over their individual retirement accounts directly to charities without paying a tax penalty ..." (Washington Post)
412(i) Plan: a Dream or a Nightmare for the Small Business Owner?
Excerpt: "The so-called 412(i) plan appears to be the 'dream' retirement plan for the small business owner. Are these plans a dream come true or a nightmare hiding behind a provision in the Internal Revenue Code?" (Milberg Consulting LLC)
Links to Items on Executive Comp, Benefits in General
Termination of Musicians Who Were Independent Contractors Did Not Violate Title VII, ADA
Two musicians were independent contractors, and not employees, and therefore their termination by a symphony did not violate Title VII of the Civil Rights Act (relating to sex discrimination) or the Americans with Disabilities Act (ADA). This was the decision of the Eighth Circuit U.S. Court of Appeals in Lerohl and Hanson v. Friends of Minnesota Sinfonia and Fishman (Nos. 02-1433 and 02-1443). (SpencerNet)
Fired CEO of Dow Chemical Leaves with $5.6 Million Severance Package
Excerpt: "Former Dow Chemical Co. CEO Mike Parker may have shouldered the lion's share of the blame for the company's lackluster performance when he was fired in December. But Parker didn't exactly walk out the door penniless when he resigned last month at age 56." (The Charleston [W.Va.] Gazette via NewsAlert.com)
Arizona State Agencies Face Higher Pension, Health Costs
Excerpt: "Lawmakers have earmarked $17.8 million to offset the increased cost of benefits for Department of Corrections and Department of Public Safety employees, while leaving other agencies and their workers to fend for themselves in covering pension contributions and bumps in health insurance costs. That could mean layoffs as agencies dip into their coffers to pay for constitutionally required pension plan contributions and inevitable health insurance premium increases ..." (AZCentral.com)
Observations on the Concurrent Receipt of Military Retirement and VA Disability Compensation
Testimony by Cynthia A. Bascetta, director, education, workforce, and income security issues, before the Subcommittee on Personnel, Senate Committee on Armed Services. GAO-03-575T, March 27, 2003. (U.S. General Accounting Office)
Newly Posted or Renewed Job Openings
Enrolled Actuary
for Invesmart
in MA
Sales Associate - Health and Welfare Administration
for National Employee Benefits Outsourcing Vendor
in DC, DE, IN, KS, KY, MD, MO, ND, NE, OH, SD, TX, VA, WV
Director of Benefits
for Diversified Entertainment Company
in CT, NJ, NY
Document Specialist/Assistant
for Sinclair, Haynes & Cowing P.C.
in MO
Regional Account Manager - Bilingual
for Market Leading Provider of Life Insurance and Retirement Plans
in TX
Defined Benefit Specialist
for Northern Trust Retirement Consulting, L.L.C.
in GA
Specialty Benefit Sales/Group Sales/Consultant/Manager
for Specialty Benefits Representative Opportunity
in Location Other Than U.S., ALL STATES
Sales Director-- Retirement Core Markets
for Wachovia Corporation
in GA, NC
Newly Posted Press Releases
(Post Yours!)
AHI's BenefitsAlert Releases New Free Report: "Reinstatement Rights For Military Leave"
(Alexander Hamilton Institute - AHI's BenefitsAlert.com)
ICMA Retirement Corporation Introduces Spanish Website
(ICMA Retirement Corporation)
PBGC Will Not Object to "Follow-On" Pension Plan for US Airways Pilots
(Pension Benefit Guaranty Corporation)
Handy Links:
- View Today's Active Message Threads
- Search BenefitsLink
- Using the Web for Employee Benefits Research
- Employee Benefits Library
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