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August 28, 2003 - 13,314 subscribers
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Federal Thrift Savings Plan Chief Considers Changes to Generous, Trouble-making Loan Policies
Excerpt: "The issue of participant loans has been really the genesis for where most of these [recordkeeping system] problems came from.... In the private sector ... they only permit participants to have one loan outstanding at a time. The TSP is incredibly generous in that it allows participants to have two outstanding loans at a time. In addition, a participant has the ability to immediately refinance-- pay off one loan and immediately take out another without any kind of a wait ..." (GovExec.com)
PBGC Rated High for Customer Satisfaction
Press release. Excerpt: "Workers and retirees whose pensions have been taken over by the Pension Benefit Guaranty Corporation (PBGC) give the agency high marks for customer service, according to the 2003 American Customer Satisfaction Index. Pension participants awarded the agency a score of 77 on the index, seven points higher than the overall government score of 70 and three points higher than the private-sector score of 74." (Pension Benefit Guaranty Corporation)
Opinion: Stopping the Insanity in Pension Funding (PDF)
Excerpt: "I propose two simple limits: a minimum (sufficiency level) below which contributions are required, and a maximum (excess level) above which contributions are prohibited. Between these levels, the public has no interest and plan funding is entirely discretionary." (Jeremy Gold in Contingencies magazine)
How Much Do You Need for Retirement? More Than You Think
Excerpt: "Olivia S. Mitchell, professor of insurance and risk management, has this strong dose of advice: It may be a good idea for people to assume that they will need the same level of income during their retirement years that they need now." (The Wharton School of the University of Pennsylvania)
How Not to Outlive Your Retirement Nest-Egg (PDF)
11 pages. Excerpt: "Everything happens to everybody sooner or later if there is time enough. --George Bernard Shaw" (Contingencies magazine)
New Date for Public Hearing on Proposals Governing Prohibited Allocations of S Corporation Stock
Excerpt: "The date for the public hearing on a proposed regulation (NPRM REG-129709-03) concerning requirements for employee stock ownership plans holding S corporation stock has been changed from November 20, 2003, to November 17, 2003." (CCH Tax News)
Links to Items on Executive Comp, Benefits in General
Fiction: God's Actuary (PDF)
4 pages. Excerpt: "This year's winner of the [Society of Actuaries] Actuarial Speculative Fiction contest is an eerily beautiful, moving, and utterly original evocation of something that happened two years ago on a bright September morning . . ." (Contingencies magazine)
Looking for Smart, Reliable Employees? Respect Your Elders
Excerpt: "With a soft economy that has depleted retirement funds and with people living longer, healthier lives, more Americans are opting to remain in the work force long past retirement age." (Inc.)
Opinion: Much Ado About Options
Excerpt: "Although it has been more than three years since the now infamous economic bubble burst, regulators, congressmen and the media remain remarkably insistent in identifying a blame agent for the excesses of the late 1990s.... The latest target of this well-intentioned group is stock options." (J. William Gurley on CNet.com)
Newly Posted or Renewed Job Openings
Retirement Programs Specialist
for Providence Health System
in WA
Plan Services Associate
for Mullin Consulting, Inc.
in CA
Team Leader, Client Services
for BISYS Retirement Services
in PA
Compliance Officer & Manager
for City National Bank
in CA
Manager of Cash Management/Distribution
for Security Trust Company, N.A.
in AZ
Newly Posted Conferences
(Post Yours!)
49th Annual Employee Benefits Conference
in CA
November 7, 2003
International Foundation of Employee Benefit Plans
Effective Liquidity Strategies For Private Equity
in NY
October 30, 2003
Institute for International Research
Newly Posted Press Releases
(Post Yours!)
401(k) INDUSTRY LEADERS TO ADDRESS SPARK MEMBERS AT ANNUAL FORUM IN NOVEMBER
(RG Wuelfing & Associates)
Labor Department Solicits Nominations for 2004 ERISA Advisory Council
(U.S. Department of Labor, Employee Benefits Security Administration)
CPA Services
(Stellar Software Ltd.)
Handy Links:
- View Today's Active Message Threads
- Search BenefitsLink
- Using the Web for Employee Benefits Research
- Employee Benefits Library
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