| BenefitsLink Retirement Plans Newsletter |   |
November 5, 2003 - 13,440 subscribers
Today's sponsor: Thompson Publishing Group, Inc.
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IRS Official Reveals Penalty-Free Ways to Fix Your Pension Plan Problems An Interactive Audio Conference, November 13, 2003, 2:00 – 3:30 p.m. ET During this audio conference, you'll learn about the recent changes to the Employee Plans Compliance Resolution System (EPCRS), the benefits of complying, as well as the penalties associated with non-compliance from an IRS official who will also answer your specific questions.
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Text of ASPA Comments on Proposed Restatement of 401(k) Regulations
Excerpt: "The comprehensive proposals close the gap where no guidance previously existed and, in some instances, go a long way toward providing practical solutions to certain common operational situations. Other proposals, however, appear to increase the likelihood of compliance failures; therefore, clarification and further guidance is required for these aspects of the regulations." (American Society of Pension Actuaries)
Text of ASPA Comments on FASB Proposed Replacement for SFAS 132 on Pension Disclosures
Excerpt: "The necessary changes go much further than changes in methods of disclosing current-rule calculated results.... Under current calculation methodology, it is difficult for the reader to examine pension reports and reach conclusions as to the status of the pension promise and the ongoing obligation assumed by the reporting entity.... The more sophisticated reader feels compelled to perform supplementary calculations ... The less sophisticated reader simply obtains an incorrect picture." (American Society of Pension Actuaries)
Colorado Public Plan Drops Janus Fund from 401(k) Options
Excerpt: "The pension plan for tens of thousands of Colorado retirees is dropping the Janus Fund, citing allegations the Denver-based firm allowed improper trading." (Washington Post)
Calif. Treasurer: We Should Drop Putnam Investments
Excerpt: "Calling it a company 'embroiled in controversy,' state Treasurer Phil Angelides Tuesday called for California's huge pension funds to end their relationships with mutual fund firm Putnam Investments." (AP via Washington Post)
Arkansas Teacher Retirement System Drops Putnam
Excerpt: "The board of the Arkansas Teacher Retirement System on Tuesday became the latest pension fund to dump Putnam Investments amid accusations of improper mutual fund trading." (AP via Washington Post)
A Mutual Fund Scandal Explained
Excerpt: "More than 95 million people have entrusted their retirement and college savings to the $7.1 trillion industry. Now the funds' reputation for safety and reliability has been called into question, setting Americans on edge. The suddenness of the scandal and its potential impact on consumers have raised several key questions. Here are some of the answers." (Newsday.com)
Opinion: Who Can You Trust?
Excerpt: "Employees looking ahead to retirement couldn't help but be scared amid allegations of accounting irregularities by major corporations and trading firms. Another scandal is not what the financial industry needed." (Al Swanson via NewsAlert.com)
Opinion: 8 Mutual Funds You Should Dump
Excerpt: "It's no coincidence that the companies accused of cheating investors also run funds producing pathetic returns. One more reason to give them the boot." (Timothy Middleton on MSN Money)
Ex-Prudential Brokers Charged with Fraud
Excerpt: "Federal and state authorities on Tuesday accused seven former Prudential Securities employees of fraud related to mutual fund trading, on the same day that the outrage over improper trading hit Janus Capital Group Inc." (Reuters via Washington Post)
Another Question is Answered in the Davis-Bacon Act Q&A Column
It seems that more and more Davis-Bacon plans are 401(k) plans, when in the past they were money purchase plans. What changed? (BenefitsLink.com)
Newly Posted or Renewed Job Openings
ERISA/Employee Benefits Attorney
for Bullivant Houser Bailey P.C.
in OR
Group Account Associate (03-0025237)
for Wachovia Corporation
in VA
External Wholesaler
for MassMutual
in TX
Employee Benefits Administrator
for Kidder Benefits Consultants, Inc.
in IA
Sr. Benefits Analyst
for CB Richard Ellis
in CA
Actuarial Associate
for Alliance Benefit Group
in IL
Actuarial Student
for Qualified Benefits Consultants, Inc.
in MO
Taft-Hartley Funds Administrator
for Office
in DC
Defined Benefit/Defined Contribution Account Manager
for National Retirement Services, Inc.
in CA, NC
Newly Posted Webcasts
(Post Yours!)
The ESOP Solution for Private Companies
on November 18, 2003
presented by Beyster Institute
Newly Posted Conferences
(Post Yours!)
What You Need to Know About FMLA and Workers' Compensation
in ALL STATES
November 24, 2003
Thompson Publishing Group, Inc.
Newly Posted Press Releases
(Post Yours!)
New Employee Health Benefits Product Penetrates the Marketplace: First Company Signs Up
(DataPath, Inc.)
Consumer Group Says Bush Should Weigh in with Supreme Court on Fate of State HMO Liability Laws
(Foundation for Taxpayer and Consumer Rights)
Retirement Planning Doesn't Have to Be Scary -- A New Guidebook Explains Why
(Women's Institute for a Secure Retirement (WISER))
BenefitsLink and Pensions & Investments Magazine Receive 2003 NAGDCA Media Recognition Awards
(National Association of Government Defined Contribution Administrators, Inc.)
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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