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October 8, 2003 - 13,400 subscribers
Today's sponsor: Thompson Publishing Group, Inc.
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Troubleshooting Problems in Qualified Domestic Relations Orders Audio Conference, Wednesday, October 22, 2003 * 2:00 – 3:30 p.m. ET Being able to anticipate problems – and knowing how to resolve them – are the keys to efficient QDRO administration. To learn or understand better how to spot and resolve problems in QDRO administration, please join Thompson Publishing Group and veteran QDRO specialists Joseph Adams and Judy Mester of Deloitte & Touche LLP for this interactive audio conference.
(Please visit our sponsors. We try to make sure their products and services will be of interest to you. Thanks! --Editor)
House Plans Vote on Pension Funding Rate
Excerpt: "The House plans to vote during the week of October 6 on a bill setting a new interest rate to calculate the amount of money employers must set aside in their defined benefit plans. The Pension Funding Equity Bill of 2003 (HR 3108) would amend the Internal Revenue Code to reflect these changes." (CCH Tax Newsletter)
House To Vote Today on Pension Funding Bill
Excerpt: "The House of Representatives is scheduled to vote Wednesday on a bill that would provide two years' worth of relief to companies faced with making hefty contributions to their pension plans." (Dallas Morning News; one-time registration required)
Text of House Pension Funding Bill Being Considered Today (PDF)
11 pages. Excerpt: "To amend the Employee Retirement Income Security Act of 1974 and the Internal Revenue Code of 1986 to temporarily replace the 30-year Treasury rate with a rate based on long-term corporate bonds for certain pension plan funding requirements and other provisions, and for other purposes." (U.S, House of Representatives via American Benefits Council)
Technical Explanation of H.R. 3108, the 'Pension Funding Equity Act of 2003' (PDF)
10 pages. Excerpt: "The bill changes the interest rate used for plan years beginning after December 31, 2003, and before January 1, 2006, in determining current liability for funding and deduction purposes and in determining PBGC variable rate premiums. For these purposes, the provision replaces the interest rate on 30-year Treasury securities with the rate of interest on amounts conservatively invested in long-term corporate bonds." (U.S. Congress, Joint Committee on Taxation)
Call for Papers: Understanding the Corporate Bond Yield Curve
Excerpt: "The Pension Section Council would like to commission a paper on the corporate bond yield curve and its potential application to pension practice. Actuaries with pension background who are also expert in finance and investment practice are being called upon for their expertise and in-depth knowledge of this topic." (Society of Actuaries)
Erie County Pa. Adopts Early Retirement Plan for County Workers
Excerpt: "[The] Erie County [Pa.] Council Tuesday night adopted an early-retirement incentive plan that boosts a qualifying employee's credited years of service by 20 percent in pension calculation." (GoErie.com)
IRS Authority to Impose User Fees Extended Through 2004
Excerpt: "Legislation (P.L. 108-89) signed on October 1, 2003 by President Bush ... would also extend, through December 31, 2004, IRS authority to assess user fees for determination letters, ruling letters, opinion letters, and other requests." (CCH News and Information Library)
Chicago Bar Association Comments on Second IRS White Paper on Future of Determ. Letter Program (PDF)
10 pages. Excerpt: "The Subcommittee believes that an annual update procedure would benefit plan sponsors.... Combining an annual update with a five-year filing cycle would help ensure regular, systematic review of all qualified plans and would put plan sponsors into the habit of keeping their plans in compliance.... [T]he cumulative burden on plan sponsors, such as that at the end of a remedial amendment period under the current system, would be greatly reduced." (Chicago Bar Association, Employee Benefits Committee)
Contacting Missing Participants or Beneficiaries
Excerpt: "With appropriate safeguards to protect the privacy rights of each tax-paying citizen, the IRS affords employers an opportunity to try and contact their former employees." (Internal Revenue Service)
Links to Items on Executive Comp, Benefits in General
Four Courthouses Shut Down as Dozens of LA Deputies Call in Sick Over Benefits Dispute
Excerpt: "Sheriff Lee Baca on Tuesday called the continuing sickout 'a blatantly illegal act,' and said he would suspend any of those absent without proof of illness.... About 300 deputies mostly assigned to courts called in sick Oct. 1, days after their pension and benefits agreements with the county expired." (The [San Jose] Mercury News)
Opinion: Stock Options Work for Workers
Excerpt: "Rather than widening the 'pay gap' between executives and average workers ... stock options have provided one of the few opportunities in the history of capitalism for workers to participate in the wealth they help create." (Andy Grove in the Washington Post)
Newly Posted or Renewed Job Openings
Project Manager - New Business Installation
for Transamerica
in CA
Sales Executive
for LTSave, Inc.
in MA
Senior Compliance Officer
for CitiStreet - A State Street and Citigroup company
in MA
Newly Posted Conferences
(Post Yours!)
WorldatWork Certification Course - T1 Total Rewards Management
in FL
November 10, 2003
South Florida Compensation and Benefits Association
Current Employee Benefit Plan Issues
in ALL STATES
November 5, 2003
Ballard Spahr Andrews & Ingersoll, LLP
Newly Posted Press Releases
(Post Yours!)
!Trak-It Applicant - Now Automates Monster.com Resume Processing
(!Trak-It Solutions)
DataPath Introduces myResourceCard: A 21st Century Solution For Employee Health Benefits
(DataPath)
Workers Worry About Losing Job Health Coverage; Express Growing Enthusiasm for Government Plan
(Employee Benefit Research Institute (EBRI))
Handy Links:
- View Today's Active Message Threads
- Search BenefitsLink
- Using the Web for Employee Benefits Research
- Employee Benefits Library
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