| BenefitsLink Retirement Plans Newsletter |   |
July 30, 2003 - 13,277 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)
Too Many Choices Can Spoil the Retirement Plan
Excerpt: "Companies have long debated whether it is better to offer employees lots of mutual funds-- or a more limited number of choices-- in their 401(k) plans. During the boom years, investors clamoring for the latest hot tech funds pushed for ever-more options. But now there is an emerging sense that employees may actually be more inclined to put money in their retirement plans if they have fewer choices." (Wall Street Journal via the Tallahassee Democrat)
GAO: Participants Need Information on Risks They Face in Managing Pension Assets After Retirement
72 pages. Excerpt: "[T]he Congress may wish to consider amending the Employee Retirement Income Security Act to require plan sponsors to provide participants with a notice on risks that individuals face in managing their income and expenditures at and during retirement. The Congress could consider stipulating that this notice must be provided at certain key milestones." (U.S. General Accounting Office)
Social Security Reform: Analysis of a Trust Fund Exhaustion Scenario
50 pages. Excerpt: "The 'Trust Fund Exhaustion' scenario underscores the need to take action sooner rather than later to address Social Security's financing shortfall. In so doing, the scenario illustrates trade-offs between sustainable solvency and benefit adequacy and equity." (U.S. General Accounting Office)
Text of Comptroller General's Testimony on Social Security Reform
Excerpt: "Absent reform, the nation will ultimately have to choose between persistent, escalating federal deficits, significant tax increases, and/or dramatic budget cuts of unprecedented magnitude." (U.S. General Accounting Office)
403bWise.com Spotlights University of Wisconsin Program as 'Model' 403(b) Plan
Excerpt: "The scarcity of quality 403(b) plans nationwide has been well documented on this site. But they do exist. We would like to take the opportunity here to spotlight quality 403(b) plans." (403bWise.com)
Another Question is Answered in the Davis-Bacon Act Q&A Column
Can Davis-Bacon (employer) contributions made to a qualified retirement plan be subject to a 300-hour vesting schedule, and if so, can those non-vested forfeitures be used to reduce future Davis-bacon (employer) contributions made to the plan? (BenefitsLink.com)
ERISA 404(c) Protection in Light of Enron (PDF)
Published in the Employee Benefits Journal, March 2003. Excerpt: "This article highlights some of the concerns raised by the Enron bankruptcy; discusses some of the implications of offering certain investment alternatives; considers developments related to participant investment education and advice; and presents suggestions for strengthening [ERISA] Section 404(c) compliance." (Kathleen Scheidt, David Wolfe of Gardner Carton & Douglas LLC)
Call for Papers: Managing Retirement Assets For Longevity and Other Risks
Excerpt: "What risks do people face in retirement? How are they related to each other? How do people make their retirement planning choices? How well do their choices reflect the underlying risks? How well do available annuity products meet individuals' actual and/or perceived risks? What are the implications of higher proportions of retirees receiving lump sums versus a guaranteed income stream from their retirement plans?" (Society of Actuaries)
Links to Items on Executive Comp, Benefits in General
Form 5500 Filing Tips
Excerpt: "In hopes of reducing the number of filing errors encountered when processing the Form 5500 and Form 5500-EZ returns and the correspondence and confusion that often ensue, we would like to offer the following important reminders: ..." (Internal Revenue Service)
Excerpts from New Book on Phantom Stock, Restricted Stock, and Other Equity Alternatives
The NCEO presents excerpts from Beyond Stock Options, a new book (with accompanying CD) on phantom stock, restricted stock, SARs, and other equity alternatives that are becoming increasingly prominent. (National Center for Employee Ownership)
Companies Get Stingy with Stock Option Grants
Excerpt: "[T]he market is coming back and stock options could actually provide a payoff again. So what are companies doing? Giving employees fewer stock options or none at all." (Wall Street Journal via SFGate.com)
Fill Out the Spencer Survey of Benefits Managers
Aspen Publishers Spencer Benefits Reports currently is collecting information for the 2003 Spencer survey of benefits managers and employee benefits departments. This ninth biennial survey requests information concerning compensation, organization, and functional responsibilities of corporate employee benefits departments. The information provided will be collated and published by Spencer Benefits Reports. All survey respondents will receive a copy of the published survey at no charge. (Spencer Benefits Reports)
Newly Posted or Renewed Job Openings
Pension/401(k) Administrators
for Polycomp Administrative Services, Inc.
in CA
Sales
for Benefits Broker and Consulting Firm
in NJ
Client Services Supervisor
for BISYS
in PA
457 Benefits Administrator
for Jem Resource Partners
in TX
Newly Posted Webcasts
(Post Yours!)
Heads Up: The NEW 401(k) Regulations
on August 19, 2003
presented by SunGard Corbel
Safe Harbor Plans Under The Proposed Regulations
on August 21, 2003
presented by SunGard Corbel
Newly Posted Conferences
(Post Yours!)
Coordination of Leave Strategies
in ALL STATES
August 18, 2003
Thompson Publishing Group, Inc.
Health and Welfare Benefit Plans, 14th Annual National Institute
in DC
October 2, 2003
American Bar Association
Compensation for Executives and Directors, 18th Annual National Institute
in IL, NY
November 6, 2003
American Bar Association
ERISA Litigation, 13th Annual National Institute
in IL
November 13, 2003
American Bar Association
Newly Posted Press Releases
(Post Yours!)
Self Study Solution Brings Benefits of Financial Education to All Companies
(The EDSA Group, Inc.)
Information On Planning, Saving and Investing For Retirement
(Retirement Planning Consultants)
Great-West Retirement Services Named Recordkeeper of the Year
(Great-West Life & Annuity Insurance Company)
Handy Links:
- View Today's Active Message Threads
- Search BenefitsLink
- Using the Web for Employee Benefits Research
- Employee Benefits Library
Copyright 2003 BenefitsLink.com, Inc.; except that you can forward this email in full (including this boilerplate part) or otherwise reprint this email in full (including this boilerplate part) without obtaining our permission.
Published by:
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Editor and Publisher: David Rhett Baker, J.D.
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