| BenefitsLink Retirement Plans Newsletter |   |
December 12, 2003 - 13,525 subscribers
Today's sponsor: APSCREEN, Employee Locator
(Click on company name or banner to learn more.)
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(Please visit our sponsors. We try to make sure their products and services will be of interest to you. Thanks! --Editor)
Extensive Survey on Travel Policies for Governmental Retirement Plan Board Members (PDF)
75 pages; includes text of policies surveyed! (National Association of State Retirement Administrators)
Funds Were Mutual, Sharing of Data Wasn't
Excerpt: "Strong Capital gave a favored client repeated access to portfolio information on some of its mutual funds, regulators say." (New York Times; one-time registration required)
Fidelity Favors Clearinghouse Proposal for Mutual Funds
Excerpt: "Fidelity Investments Chairman and Chief Executive Ned Johnson urged regulators to create a central clearinghouse to process mutual-fund trades and prevent illegal after-hours dealing." (Bloomberg News via the Seattle Times)
ACLI Says SEC's Mutual Fund Proposals Disadvantage Variable Annuities
Excerpt: "A Securities and Exchange Commission proposal aimed at combating mutual fund trading abuses would disadvantage pension funds and variable annuities, say life insurers and business groups." (Insurance NewsNet)
GM Has High Hopes for U.S. Pension Plans
Excerpt: "General Motors Corp. expects its once lagging U.S. hourly and salaried pension plans to be nearly fully funded by the end of the year, reflecting the improved performance of financial markets and cash contributions." (AP via Washington Post)
Under Pressure, a Mutual Fund Might Lower Fees
Excerpt: "Alliance Capital Management, as part of its effort to reach a settlement with Mr. Spitzer, the New York attorney general, has said it will consider reducing fees for fund shareholders, according to a senior official involved in the talks." (New York Times; one-time registration required)
Your 2003 End-of-Year 401k To Do List
Excerpt: "401k plan sponsors are always asking us about their retirement plan and what needs to be addressed before the end of the calendar year. To assist them in tackling their concerns, we have developed this quick 'To Do List.'" (Vincent M. Rinaldi of Retirement Plan Services)
Another Question is Answered in the Benefit Plans of Tax Exempt Organizations Q&A Column
How do the EGTRRA "catch-up" contributions apply to 403(b) plans and 457 plans? (BenefitsLink.com)
Quick Guide to Pending Federal Legislation on Retirement Plans (PDF)
4 pages; 12/9/03. (Hewitt)
Overview: IRS Provides Guidance on Disqualification Relief for Employee Leasing Organizations
12/8/03. Excerpt: "Under the new guidance, for purposes of Code Sec. 401(a), a multiple employer retirement plan must be consistent in its treatment of worksite employees. Thus, plan documents must reflect the plan's choice to treat ALL worksite employees who perform services for a CO either: as if they were employees of the PEO, for all plan years up to, and including, the plan year in which the compliance date occurs; or as employees of the CO, for all plan years." (RIA Tax News)
Overview: Final FASB Decision Made On Retirement Disclosures
12/11/03. Excerpt: "In response to analysts' demand for more information from companies about their pension plan assets and obligations, FASB has been contemplating additional retirement benefit disclosure requirements for the past nine months. After meetings in November, FASB finalized the changes to FAS 132 and is expected to issue the final standard in the next week or two." (Mercer Human Resource Consulting)
Links to Items on Executive Comp, Benefits in General
Quick Guide to Pending Federal Legislation on Human Resources and Employment Law (PDF)
2 pages; 12/9/03. (Hewitt)
Microsoft Workers Can Cash in Options
Excerpt: "A Microsoft Corp. program allowing workers turn in their largely worthless stock options will result in payouts of $382 million over the next three years, the company said Thursday." (AP via [Minneapolis] StarTribune.com)
Benefits Were 28.5% of Total Compensation In September 2003
Employer-provided benefits costs for civilian workers in private industry and state and local governments in September 2003 averaged $6.97 per hour worked, accounting for 28.5% of total compensation costs, which averaged $24.48 per hour worked. These are among the findings of the most recent Employer Costs for Employee Compensation report, produced quarterly by the Bureau of Labor Statistics (BLS). (Spencer Benefits Reports)
Newly Posted Events
What The New Medicare Legislation Means To Plan Sponsors
Nationwide on December 1, 2003
presented by Hewitt Associates LLC
Basics Of Employee Health & Welfare Benefits
in Massachusetts on April 8, 2004
presented by New England Employee Benefits Council
"How To" Series: FMLA And Integrated Disability Management
in Massachusetts on February 11, 2004
presented by New England Employee Benefits Council
"How To" Series: Form 5500...And Beyond
in Massachusetts on May 6, 2004
presented by New England Employee Benefits Council
"How To" Series: COBRA
in Massachusetts on August 12, 2003
presented by New England Employee Benefits Council
Sixth Annual "Best Practices" Conference
in Massachusetts on December 2, 2004
presented by New England Employee Benefits Council
Newly Posted Press Releases
SHRM/CNNfn Job Satisfaction Survey Says More Employees Satisfied with Benefits at Large Organizations Versus Small
(Society for Human Resource Management (SHRM))
HR Professionals See More Employees Struggle with Elder Care
(Society for Human Resource Management (SHRM))
AAHP-HIAA Launches Web Site to Improve Medication Use
(American Association of Health Plans-Health Insurance Association of America (AAHP-HIAA))
Newly Posted or Renewed Job Openings
ERISA Specialist
for ExpertPlan, Inc.
in NJ
Employee Benefits (EB) Field Wholesaler (03-0029239)
for Wachovia Corporation
in NC
Handy Links:
- View Today's Active Message Threads
- Search BenefitsLink
- Using the Web for Employee Benefits Research
- Employee Benefits Library
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