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June 6, 2003 - 13,189 subscribers
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Facts from EBRI: 401(k) Plan Account Balances, Asset Allocation and Loan Activity (PDF)
Excerpt: "Of the 14.6 million 401(k) plan participants in the EBRI/ICI database, 80 percent were offered a plan loan by the plan sponsor. However, as has been the case for the six years that the EBRI/ICI databases have tracked 401(k) plan participants' loan activity, few participants have loans outstanding. At year-end 2001, only 16 percent of those eligible for loans have loans outstanding." (Employee Benefit Research Institute)
Online Hearing: Examining the Health and Future of the Defined Benefit Plan
Duration: 1 hour, 32 minutes. (U.S. House of Representatives Committee on Education and the Workforce, Subcommittee on Employer-Employee Relations)
Resolving IRS (and DOL) Penalties for Late Form 5500 Filing
Excerpt: "Recently, a number of employers have received letters from the IRS assessing penalties ($25 per day) for the late filing of Form 5500 for the employer's plan(s). The letters generate two important questions for the employer: May the employer still ask the IRS to reduce or abate the penalty? If the employer resolves the late filing with the IRS, will it preclude the DOL from imposing its penalties for late filing?" (SunGard Corbel)
Hearing Ordered in Municipal Pension Calculation Dispute
Excerpt: "Most government agencies throughout California base retirement on a single year's pay -- or 26 consecutive pay periods. [Fresno] county, however, calculates final compensation based on the highest 26 pay periods of an entire career." (The Fresno Bee)
Links to Items on Executive Comp, Benefits in General
Text of Proposed Regulations for Incentive Stock Options (PDF)
100 pages. Excerpt from IRS press release: 'When finalized, these regulations will update the existing regulations to conform to current law, and will replace regulations proposed in 1984.... In addition to restating the existing rules, the new proposed regulations include updated rules addressing current issues and practices, such as ISOs issued by limited liability companies and other entities that elect corporate tax treatment." (Internal Revenue Service)
Senate Approves Bill Providing Full Retirement Pay in Addition to Disability Pay, for Disabled Vets
Excerpt: "The Senate on June 4 approved by voice vote an amendment to the $400.5 billion defense authorization bill for fiscal year 2004 that would allow disabled veterans to receive full retirement pay in addition to disability compensation, the Associated Press reports." (KaiserNetwork.org)
Newly Posted or Renewed Job Openings
Employee Benefits Recordkeeper
for First American Bank
in IL
Retirement Plan Consulting Manager - Traditional
for Invesmart
in OR
Newly Posted Webcasts
(Post Yours!)
Trends in Executive Compensation
on June 10, 2003
presented by FEI and Frederic W. Cook & Co.
Covering the Uninsured: How Much Would It Cost?
on June 4, 2003
presented by Kaiser Family Foundation and Health Affairs, Washington, D.C.
Newly Posted Conferences
(Post Yours!)
Form 5500 Workshop
in NJ
June 11, 2003
WEB NEW JERSEY CHAPTER
Newly Posted Press Releases
(Post Yours!)
Vanguard First to Combine Financial Engines' Advisory Service with Transaction & Data Aggregation Capabilities for Employees
(The Vanguard Group and Financial Engines)
Abstracts of Articles in New Issue of Journal of Pension Economics and Finance
(Journal of Pension Economics and Finance)
Firms Partner to Help 401k Participants Become Better Retirement Planner and Investors
(401khelpcenter.com)
Diversified Investment Advisors Identified as Top-Rated Defined Contribution Provider
(Diversified Investment Advisors)
Treasury and IRS Propose Regulations For Incentive Stock Options
(Internal Revenue Service)
Handy Links:
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- Using the Web for Employee Benefits Research
- Employee Benefits Library
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