| BenefitsLink Retirement Plans Newsletter |   |
October 10, 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 LLP for this interactive audio conference.
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Escape from a Bad 403(b) Retirement Account
Excerpt: "A special rule gives many 403(b) participants a chance to transfer money to investments they prefer. There's just one hitch: While the IRS allows this maneuver, known as a '90-24 transfer,' it doesn't require plans to offer it." (Kiplinger magazine)
Minority Shareholder Claim of ESOP Participant Not Preempted by ERISA
Excerpt: "An employee's claim against his former employer in connection with an ESOP was not preempted by ERISA because the claim centered on his status as a minority shareholder and not on his status as an ESOP participant, according to the U.S. Court of Appeals in Atlanta (CA-11)." (CCH News and Information Library)
South Florida Town Replaces 401(k) Plan with Defined Benefit Plan
Excerpt: "City police and firefighters can now make more definite plans for retirement. City commissioners replaced a defined contribution pension plan, similar to a 401(k) account, with a more traditional, defined benefit plan. The police and fire unions asked the city for a plan that was more resilient to economic ups and downs after the Sept. 11 terror attacks battered the stock market." (Sun-Sentinel.com)
County Superintendents in Iowa Reject Early-Out Retirement Plan
Excerpt: "Board members voted 3-2 against the proposal, which a study committee of county department heads said could save $874,000 over five years. The plan's proponents ... saw it as an alternative to layoffs. Under the proposal, the county would pay potential retirees' health insurance for up to five years. The county would save money from no longer having those higher-paid senior workers on the payroll." (Waterloo/Cedar Falls [Iowa] Courier)
United Airlines Seeks Permission to Delay Funding of Pension Plan
Excerpt: "United Airlines parent UAL Corp., as expected, said it intends to ask the Internal Revenue Service for waivers so it can postpone certain payments to its employee pension plans, contributions that currently are accelerated because the plans are underfunded, Friday's Wall Street Journal reported." (Dow Jones via Quicken Brokerage)
Links to Items on Executive Comp, Benefits in General
Letting Older Workers Work
Excerpt: "Within 10 years, baby boomers will begin retiring in large numbers.... The situation could obviously be improved if older workers could be induced to work longer.... [T]here are a large number of economic, legal, and institutional barriers to more flexible employment arrangements for older workers. These were not considered a problem when there was a positive desire to move people out of the labor force early ..." (Rudolph G. Penner, Pamela Perun and C. Eugene Steuerle, published by the Urban Institute)
IRS Announces New Guidelines on Use of Faxes
Excerpt: "WASHINGTON -- The Internal Revenue Service [on Oct. 9, 2003] announced new facsimile guidelines that will make it easier for taxpayers and tax professional to correspond with the agency. The new guidelines will expand the list of documents and information the IRS will accept via fax." (Internal Revenue Service)
Judgment Amended in Refund Suit for Disallowed Deductions of Interest on Loans to Pay COLI Premiums
Excerpt: "The district court granted the government's motion to amend judgment and order additional factual findings in connection with a chemical company's refund suit. In a prior holding, the district court held that the taxpayer was entitled to a refund of taxes paid after the IRS disallowed deductions that the taxpayer claimed for interest paid on loans taken to pay premiums on corporate-owned life insurance (COLI) policies. [Dow Chemical Co., DC Mich.]" (CCH Tax Newsletter)
New Law Helps With Retirement Benefits for Workers Hurt on the Job
Excerpt: "President Bush has signed legislation that will help make up any shortfall in retirement benefits for federal employees who are disabled or injured while on the job." (Washington Post)
Newly Posted or Renewed Job Openings
Employee Services Division Chief
for Arlington County (Virginia) Government
in VA
Retirement Plan Administrator
for Retirement Plan Services, Inc.
in NC
Employee Benefits Specialist
for Kibble & Prentice
in WA
401k Wholesaler - Regional Vice President
for BISYS Retirement Services
in IL, TX
Newly Posted Webcasts
(Post Yours!)
Critical Issues in Establishing Employee Ownership
on October 29, 2003
presented by Beyster Institute
Ask the Experts about Medicare and Prescription Drug Reform
on October 15, 2003
presented by kaisernetwork.org
Newly Posted Press Releases
(Post Yours!)
Philadelphia-Area 401(k) Leader Hires Two Executives to Oversee Development and Growth
(Resources for Retirement, Inc.)
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