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June 10, 2003 - 13,189 subscribers
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“Employment Practices Liability Insurance” 90-Minute Interactive Audio Conference 6/18/03 * 2:00 p.m. ET Do you know the differences and types of Employment Practices Liability Insurance (EPLI)? This audio conference will explain EPLI pros and cons and explain when EPLI can be an affordable and useful tool in alleviating employer concerns regarding employment practices liability. Join benefits attorneys Ray Mak and Tim Rowan on June 18 when they address these issues and more during this important audio conference.
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Portman Pushes Interest Rate Reform Bill; Dems Say They're Worried Companies Couldn't Meet Funding Burden
Excerpt: "The Baltimore Democrat and Rep. Robert Portman, R-Ohio, have introduced the new Pension Preservation and Savings Expansion Act as a way to help spur interest in defined benefit plans ... But critics of the Cardin-Portman proposal say the changes could cost as much as $100 billion over a decade." (Baltimore Business Journal via bizjournals.com; one-time registration required)
Controversial Texas 457(b) Legislation Fails to Come to a Vote
Excerpt: "Texas legislation SB 1243 which sought to apply state 403(b) rules to the 457(b) failed to come to a vote before the close of the 78th Legislative Session last week." (457bWise.com)
Overview: House Votes to Clarify Soldiers' and Sailors' Civil Relief Act of 1940
Excerpt: "The bill would: apply the same 6% cap on interest to all creditors, including 401(k) plans; clarify that a lender bears the burden of proving in court that a servicemember does not fall under a 'hardship' exception ..." (Milliman USA)
Credit Suisse First Boston Study: Pension Accounting Rules
Target page has link to 168-page document dated September 27, 2002. Excerpt: "Confusing accounting, complicated funding requirements, and pension obligations with unknown future cash flows ... contribute to investor anxiety. This report addresses those concerns by focusing on the defined benefit pension plans of companies in the S&P 500. To better understand actual exposure for those companies, we replace the magic of pension accounting with each plan's economic reality." (Reprinted online by the ERISA Industry Committee)
Ratification of U.S.-U.K. Tax Treaty Is Good News for Expatriate Employees
Excerpt: "The United States and United Kingdom have finally ratified their 2001 tax treaty, providing significant relief for expatriate employees in both countries, but particularly for U.S. participants in British 'approved pension schemes,' the U.K. equivalent of U.S. qualified retirement plans." (Watson Wyatt)
What Is the Difference Between Investment Education and Advice? What Are the Potential Liabilities?
Excerpt: "Advice is most often offered online or by a financial professional. In any case, significant detail about an employee's personal finances, goals and risk tolerance are gathered to make projections and recommendations on a course of action.... When analyzing risks associated with investment advice or education programs, review current legislation: Section 404(c) of ERISA and Department of Labor Interpretive Bulletin 96-1." (Financial Finesse via WorkIndex.com)
What Are Some Strategies To Help Increase My 401(k) Participation Rate?
Excerpt: "One of the most effective ways of increasing plan participation is to ensure your employees receive adequate financial education about your plan.... Consider providing employees with an unbiased general financial education program with information about reducing debt and better budgeting." (Financial Finesse via WorkIndex.com)
Links to Items on Executive Comp, Benefits in General
Options Reform Debate About to Get Real
Excerpt: "Accounting regulators have fired what they say is the last salvo in a decades-long war to require companies to expense their stock option grants, setting the stage for the next battle-- exactly how to do so. The Financial Accounting Standards Board, or FASB, an independent regulatory body that sets financial accounting rules, has said that by the end of this year, it will pass a new rule forcing companies to count their option grants as a cost, and expense them as such." (TheStreet.com)
New Rules for Nonqualified Plans on the Horizon
Excerpt: "Efforts to impose new restrictions on nonqualified deferred compensation plans and certain stock compensation arrangements are gaining momentum in Congress." (Watson Wyatt)
Overview of Watson Wyatt Study on Disclosure of Stock Option Expense
Excerpt: "Requiring companies to recognize stock-based compensation (SBC) as an expense may not exert the downward effect on stock prices that many have feared, according to a recent analysis by Watson Wyatt Worldwide. The analysis found that the stock market has already factored stock option costs into today's stock prices ..." (Watson Wyatt)
Newly Posted or Renewed Job Openings
Retirement Plan Services Representative
for American Funds
in IN
Project Manager - New Business Installation
for Transamerica
in CA
Pension Benefits Advisor -- Los Angeles Region
for Guardian Life Insurance Company of America
in CA
ERISA Corporate Counsel
for ADP
in NJ
Newly Posted Press Releases
(Post Yours!)
McKay Hochman Senior Consultant Offers Online Davis-Bacon Insight
(McKay Hochman Co., Inc.)
McKay Hochman Introduces Participant Loans eSeminar
(McKay Hochman Co., Inc.)
PBGC to Protect Benefits of 2,000 Workers Covered by Goldman Group Inc. Pension Plans
(Pension Benefit Guaranty Corporation)
Handy Links:
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- Search BenefitsLink
- Using the Web for Employee Benefits Research
- Employee Benefits Library
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