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October 24, 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 – Monday, November 10, 2003 * 2:00 p.m. Eastern Time (PLEASE NOTE NEW DATE – it was previously scheduled for Nov. 11) During this 90-minute interactive presentation, specialists in the field of workplace investigations will cover such important topics 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)
IBM Workers Want Cash Balance Payments Recalculated
Excerpt: "Following Judge G. Patrick Murphy's ruling that IBM's cash balance pension plan violated age discrimination laws, workers at Big Blue are requesting the company recalculate and make payments to the plan under a different system." (PLANSPONSOR.com; one-time registration required)
Senate Vote Opposes Cash Balance Pension Plan Conversions
Excerpt: "The Senate agreed Thursday to block the Treasury Department from permitting companies to convert from traditional pensions to 'cash balance' plans in a way that hurts older workers." (Reuters via New York Times; one-time registration required)
Reuters Coverage: Senate Moves to Stop Cash Balance Conversions
Excerpt: "The U.S. Senate on Thursday voted to block the Treasury from issuing regulations allowing companies to convert from traditional pensions to cash balance plans in a way that hurts older workers. The voice vote follows a similar move in the House of Representatives ..." (Reuters via Forbes)
Fund Rules Might Bruise 401(k)s
Excerpt: "[R]etirement plan investors might be hit with new fees and restrictions-- and are likely to have to foot the bill for implementing the new restrictions. Putnam Investments said this week that in December it will start charging a 1% redemption fee to investors who trade excessively in its global and international funds held in retirement plans." (USA Today)
Massachusetts Secretary of State Disputes Putnam Assertions
Excerpt: "Massachusetts Secretary of State William F. Galvin disputed Putnam Investments' contention that there was a 'minimal' amount of market timing in its mutual funds, saying his investigation has uncovered 'hundreds of millions of dollars' in suspect trades, and he accused the Boston company of being slow to acknowledge the problem." (Boston Globe)
Kentucky High Court Nixes Pension Hike for State Legislators
Excerpt: "In a harsh rebuke of the legislature, the Kentucky Supreme Court on Thursday unanimously struck down a pension increase that legislators quietly gave themselves three years ago." (AP via New York Times; one-time registration required)
State of Nevada Considers Switching Part-Timers from Social Security to DC Plan
Excerpt: "The state can save nearly $500,000 a year by moving part-time employees out of Social Security and into a private deferred compensation plan structured like a 401K. The proposal before the Board of Examiners next week would move all new hires who are ineligible for the Public Employees Retirement System into the alternative plan beginning next year.... [E]xisting part timers would have the option of staying with Social Security. Only new hires would have to join the alternative plan." (Nevada Appeal)
Bethlehem Retirees Hear Pension News from PBGC
Excerpt: "The majority of Bethlehem retirees breathed a collective sigh of relief after receiving a letter from the PBGC confirming their benefits will stay at their current level. But for some, the message wasn't good.... Three factors contribute to receiving PBGC benefits that are lower than Bethlehem's pension: pensions exceeding PBGC's caps ... pension checks including a $400 monthly supplement ... or phased-in pension increases for salaried employees who retired after Jan. 1, 2000." (NWITimes.com)
From Drivers to Divas, Italians Strike Over Public Pension Changes
Excerpt: "Like France and Germany, Italy is trying to reform its pensions system which swallows about 15 percent of gross domestic product. That proportion is set to grow as low birth rates and longer life expectancy age the country's population." (Reuters via Yahoo! News)
Another Question is Answered in the 401(k) Plans Q&A Column
Please provide the authority for the conclusion that a 401(k) plan covering only highly compensated employees automatically passes the ADP and the ACP nondiscrimination tests. (BenefitsLink.com)
Links to Items on Executive Comp, Benefits in General
Business-Owned Life Insurance: Preliminary Observations on Uses
18 pages; summary at http://www.gao.gov/highlights/d04191thigh.pdf - Excerpt: "To address concerns that businesses were abusing their ability to deduct interest expenses on loans taken against the value of their policies, Congress passed legislation to limit this practice, and the Internal Revenue Service (IRS) and Department of Justice pursued litigation against some businesses. But concerns have remained regarding employers' ability to benefit from insuring their employees' lives." (U.S. General Accounting Office)
Study Shows Spouse's Death Can Lead To Financial Devastation
Excerpt: "MetLife ... bolsters the case for life insurance with a recent study analyzing the long-term financial impact for surviving spouses after a mate's premature death." (BenefitNews.com)
Newly Posted or Renewed Job Openings
Pension Sales Design Specialist
for American National Insurance Company
in TX
Senior Pension Account Representative
for Minnesota Life Insurance Company
in PA
Defined Contribution Plan Administrator
for Estate & Pension Advisory Board, Inc.
in PA
Health Benefits Analyst
for The Segal Company is an employee benefits, human resources consulting firm
in CA
Newly Posted Webcasts
(Post Yours!)
Health Care as a Campaign Issue: A Winner in 2004?
on October 20, 2003
presented by KaiserNetwork.org
Executive Benefits A Survey of Current Trends 2003 Results
on November 6, 2003
presented by Clark Consulting
FDA Protecting and Advancing America's Health: A Vision for the Future
on October 20, 2003
presented by KaiserNetwork.org
The Impact of Medicare Reform on Retirees
on October 28, 2003
presented by Employers' Coalition on Medicare / washingtonpost.com
Newly Posted Conferences
(Post Yours!)
B3: Health Care and Insurance Plans - Design and Management
in MA
March 22, 2004
WorldatWork
B3: Health Care and Insurance Plans - Design and Management
in NY
April 26, 2004
WorldatWork
B3: Health Care and Insurance Plans - Design and Management
in GA
May 18, 2004
WorldatWork
B3: Health Care and Insurance Plans - Design and Management
in
August 2, 2004
WorldatWork
B3: Health Care and Insurance Plans - Design and Management
in CA
November 8, 2004
WorldatWork
B3: Health Care and Insurance Plans - Design and Management
in
November 30, 2004
WorldatWork
B3A: Health Care and Insurance Plans - Financial Management
in NY
June 2, 2004
WorldatWork
B3A: Health Care and Insurance Plans - Financial Management
in
November 18, 2004
WorldatWork
B4: Strategic Benefits Planning
in IL
July 14, 2004
WorldatWork
B4: Strategic Benefits Planning
in TX
November 3, 2004
WorldatWork
B5: Managing Flexible and Work/Life Benefits
in IL
April 19, 2004
WorldatWork
B5: Managing Flexible and Work/Life Benefits
in TX
July 26, 2004
WorldatWork
B9: International Benefits
in IL
March 15, 2004
WorldatWork
B9: International Benefits
in CA
June 23, 2004
WorldatWork
B9: International Benefits
in NY
July 12, 2004
WorldatWork
T1: Total Rewards Management
in NY
January 21, 2004
WorldatWork
T1: Total Rewards Management
in DC
February 2, 2004
WorldatWork
T1: Total Rewards Management
in MA
February 23, 2004
WorldatWork
T1: Total Rewards Management
in MN
March 22, 2004
WorldatWork
T1: Total Rewards Management
in NY
March 29, 2004
WorldatWork
T1: Total Rewards Management
in FL
April 12, 2004
WorldatWork
T1: Total Rewards Management
in IL
April 19, 2004
WorldatWork
T1: Total Rewards Management
in CA
April 26, 2004
WorldatWork
T1: Total Rewards Management
in NY
May 12, 2004
WorldatWork
T1: Total Rewards Management
in GA
May 18, 2004
WorldatWork
T1: Total Rewards Management
in DC
June 7, 2004
WorldatWork
T1: Total Rewards Management
in MA
June 23, 2004
WorldatWork
T1: Total Rewards Management
in CA
June 23, 2004
WorldatWork
T1: Total Rewards Management
in IL
July 14, 2004
WorldatWork
T1: Total Rewards Management
in TX
July 26, 2004
WorldatWork
T1: Total Rewards Management
in CA
August 2, 2004
WorldatWork
T1: Total Rewards Management
in GA
August 16, 2004
WorldatWork
T1: Total Rewards Management
in MA
August 23, 2004
WorldatWork
T1: Total Rewards Management
in DC
October 6, 2004
WorldatWork
T1: Total Rewards Management
in CA
October 18, 2004
WorldatWork
T1: Total Rewards Management
in IL
October 20, 2004
WorldatWork
T1: Total Rewards Management
in TX
November 3, 2004
WorldatWork
T1: Total Rewards Management
in NY
November 8, 2004
WorldatWork
T1: Total Rewards Management
in CA
November 8, 2004
WorldatWork
T1: Total Rewards Management
in GA
November 15, 2004
WorldatWork
T1: Total Rewards Management
in AZ
November 30, 2004
WorldatWork
T1: Total Rewards Management
in IL
December 6, 2004
WorldatWork
T6: Mergers and Acquisitions: Benefits, Compensation and Other HR Issues
in CA
March 8, 2004
WorldatWork
T6: Mergers and Acquisitions: Benefits, Compensation and Other HR Issues
in MA
April 26, 2004
WorldatWork
T6: Mergers and Acquisitions: Benefits, Compensation and Other HR Issues
in NY
June 2, 2004
WorldatWork
T6: Mergers and Acquisitions: Benefits, Compensation and Other HR Issues
in IL
June 28, 2004
WorldatWork
T6: Mergers and Acquisitions: Benefits, Compensation and Other HR Issues
in DC
October 6, 2004
WorldatWork
T6: Mergers and Acquisitions: Benefits, Compensation and Other HR Issues
in GA
October 19, 2004
WorldatWork
T6: Mergers and Acquisitions: Benefits, Compensation and Other HR Issues
in TX
November 3, 2004
WorldatWork
Newly Posted Press Releases
(Post Yours!)
Alexander Hamilton Institute Releases Results Of National Survey Of Paid Time Off Practices
(Alexander Hamilton Institute)
Joint Statement from Albertsons, Ralphs and Vons Regarding Labor Negotiations
(Albertsons, Ralphs, Vons)
Labor Department Proposes Amendment To Exemption on Securities Lending
(U.S. Department of Labor, Employee Benefits Security Administration)
Handy Links:
- View Today's Active Message Threads
- Search BenefitsLink
- Using the Web for Employee Benefits Research
- Employee Benefits Library
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