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October 22, 2003 - 13,383 subscribers
Today's sponsor: Thompson Publishing Group, Inc.
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“How to Conduct Successful Workplace Investigations” A 90-Minute Interactive Audio Conference – Tuesday, November 11, 2003 * 2:00 p.m. Eastern Time During this 90-minute interactive presentation, specialists in the field of workplace investigations will cover important topics such as: the proper role of the investigators in conducting internal investigations and the standards applicable to internal investigations, confidentiality, appropriate investigative procedures and more. Register today!
(Please visit our sponsors. We try to make sure their products and services will be of interest to you. Thanks! --Editor)
Checklists For Updating Qualified Plans For EGTRRA and Other Recent Guidance
Excerpt: "The attached checklists identify amendments that must or may be included in IRS-qualified defined contribution and defined benefit plans as a result of changes made by the Economic Growth and Tax Relief Reconciliation Act of 2001 ('EGTRRA'), technical corrections made by the Job Creation and Worker Assistance Act of 2002 ('JCWAA'), the Sarbanes-Oxley Act of 2002, and other regulatory guidance issued in 2002 and 2003." (Groom Law Group)
Who Runs Your 401(k) Plan?
Excerpt: "It takes a white-collar village to run your 401(k) plan.... Since the creation of the first 401(k) in 1981, the cottage industry of 401(k) servicing businesses has mushroomed -- investment consultants arose to advise sponsors on which funds to choose, attorneys and auditors to ensure the plan meets compliance standards, custodians to execute the massive trades within 401(k) plans and so on." (TheStreet.com)
IRS Reverses Position on Credit for Accrued Service Under Predecessor Plan
Excerpt: "Years of service accrued in a defined benefit (DB) plan prior to the establishment of a successor cash balance plan cannot be disregarded for purposes of calculating the nonforfeitable percentage under a new plan consisting of a merger of the DB plan and the cash balance plan, according to a recently-issued IRS letter ruling." (CCH News and Information Library)
Full Text: Social Security Cost-of-Living Increases and Other Determinations for 2004 (PDF)
6 pages; 10/22/03. Excerpt: "The Commissioner has determined ... A 2.1 percent cost-of-living increase in Social Security benefits under title II of the Social Security Act (the Act), effective for December 2003; ... The Old-Age, Survivors, and Disability Insurance (OASDI) contribution and benefit base to be $87,900 for remuneration paid in 2004 and self-employment income earned in taxable years beginning in 2004; ..." (Social Security Administration)
Mutual Fund Probe Eyes Retirement Plans
Excerpt: "Massachusetts regulators are preparing to charge mutual fund giant Putnam Investments with civil securities fraud related to improper trading in retirement plans.... In a statement, Putnam strongly denied the allegations, first reported in The Boston Globe. Putnam said it had identified three cases of market timing in retirement plans and worked with the plans to put a stop to the practice." (USA Today)
Another Question is Answered in the Davis-Bacon Act Q&A Column
A contractor satisfies the Davis-Bacon Act by providing the additional fringe in the paychecks of the prevailing wage group. The contractor has a cross-tested profit sharing plan. They want to create a separate class in the profit sharing plan called the "prevailing wage group". Providing the plan passes testing, is this permissible? (BenefitsLink.com)
Links to Items on Executive Comp, Benefits in General
Opinion: Microsoft Option Offer Is No Deal for Employees
Excerpt: "With a few exceptions, the offer Microsoft Corp. and J.P. Morgan Chase & Co. are making to Microsoft employees with under-water stock options is very likely no deal at all -- at least not for the employees." (Graef Crystal on Bloomberg.com)
Newly Posted or Renewed Job Openings
Benefits Case Manager
for Pension Professionals of America LLC
in AZ
ERISA Pension Analyst / Paralegal / Plan Administrator
for Retirement Plan Administration and ERISA Specialists
in IL
Newly Posted Conferences
(Post Yours!)
Mountain States Benefits Conference
in CO
September 13, 2004
ASPA
Los Angeles Benefits Conference
in CA
January 29, 2004
ASPA & IRS
IRS/ASPA Great Lakes Area Benefits Conference
in IL
April 29, 2004
ASPA & IRS
Newly Posted Press Releases
(Post Yours!)
Benefit Software Provides Personalized Employee Benefit Statement Service for City of Arcadia California
(Benefit Software Inc.)
Benefit Advisors Network Adds Pharmacy Director
(Benefit Advisors Network)
Handy Links:
- View Today's Active Message Threads
- Search BenefitsLink
- Using the Web for Employee Benefits Research
- Employee Benefits Library
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Editor and Publisher: David Rhett Baker, J.D.
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