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January 22, 2004 - 13,655 subscribers
Today's sponsor: DATAIR Employee Benefit Systems, Inc.
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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)
It's Official: Monday, February 2, Works as Last GUST Postmark Date (Have a Nice Weekend)
Excerpt: "The Service has announced that it will treat GUST determination letter applications received by the Service, postmarked by the U.S. Postal Service, or recorded or marked as delivered to a designated private delivery service under IRC section 7504(f), by no later than February 2, 2004, as being timely filed in accordance with the January 31, 2004 deadline set forth in Rev. Proc. 2003-72." (Internal Revenue Service)
Defined Benefit Pension Funding Reform No Easy Task
Excerpt: "The federal agency that backstops the retirement plans of more than 45 million American workers reported a record $11.2 billion deficit last week, reinforcing concerns the program may require a taxpayer bailout." (Los Angeles Times via NJ.com)
Text of DOL Information Letter on Group Annuities as 'Guaranteed Benefit Policies' Under ERISA
Excerpt: "[G]roup annuity contracts, such as those described above, that provide for reasonable rates of return (taking into account any fees and costs charged against the contract), guaranteed for fixed periods, as well as a right to convert the funds into annuities at the guaranteed annuity purchase rates set forth in the contract, would, in the absence of other guidance, appear to constitute 'guaranteed benefit policies' within the meaning of section 401(b)(2) of ERISA." (U.S. Department of Labor, Employee Benefits Security Administration)
Bipartisan Efforts Push Savings Account Plans
1/21/04 - Excerpt: "Congressional Republicans on January 21 discussed their plans to enact tax-free savings accounts one day after President Bush touched upon the subject in his State of the Union address. A group of Republicans and Democrats also expressed their support for the plan at a January 21 press conference in Washington, D.C." (CCH Tax News)
Opinion: Mutual Fund Investors Need to Shout Out, Not Get Out
Excerpt: "Should we small investors bail out of mutual funds? I don't think so. There are enough honest investment professionals and mutual fund companies to make it worth staying in this game." (Washington Post)
Opinion: Gathering Forces of Historic Social Security Reform
Excerpt: "The point of the reform is to improve the future for today's younger workers, who suffer the prospects of a sharply deteriorating Social Security program." (Peter Ferarra in the Washington Times)
Back-to-Basics: Average Deferral Percentage Test
Nice overview. (McKay Hochman & Co., Inc.)
Links to Items on Executive Comp, Benefits in General
Message From Employees to Management: Tell It to Us Straight
Excerpt: "[C]an companies do a better job of communicating credibly with their employees? Most probably can, according to a new Towers Perrin survey of 1,000 Americans working in a broad cross section of industries. These employees have some simple advice to management: 'Tell it like it is.'" (Towers Perrin)
Opinion: Don't Give Us Too Many Choices
Excerpt: "The value of choice has been a consistent theme for the president and his administration. Problems in education, health care and a host of other issues, Mr. Bush has repeatedly argued, can be addressed in large measure by expanding the options available to people.... [F]or many people, increased choice can lead to a decrease in satisfaction. Too many options can result in paralysis, not liberation. Here is some of the evidence:" (New York Times; one-time registration required)
The Rise of Restricted-Stock Grants
Excerpt: "A 2003 PricewaterhouseCoopers human resource services survey shows that 15 percent more companies use restricted stock than in 2002. Switching from options to restricted stock is not necessarily all that easy to pull off." (Workforce.com)
IRS Compensation Audit: Are Fringe Benefits Next?
Excerpt: "As the IRS examines executive compensation, it will pay attention to large paychecks, deferred compensation arrangements and stock options.... But these are not the only forms of compensation receiving IRS scrutiny: Fringe benefits including some of those provided to less highly compensated employees are in the IRS' sights, as well." (Thompson Publishing Group)
Newly Posted Events
Online Training & Certification Program On Employment Closure: Handling Health, Cafeteria, and Retirement Benefits Upon Termination
Nationwide on January 23, 2004
presented by HRcertification.com
Controlling Disability Benefits Cost
in New York on January 29, 2004
presented by New York Metropolitan Area Chapter - ISCEBS
403(b) Plans - Intermediate Level (Two Days)
Nationwide on March 2, 2004
presented by HRTrainingCenter.com
Plan Freezes, Terminations, and Mergers
Nationwide on March 18, 2004
presented by HRTrainingCenter.com
Coordinating FMLA, ADA, and Workers' Compensation
Nationwide on February 5, 2004
presented by HRTrainingCenter.com
Introduction To Defined Benefit Plans
Nationwide on February 3, 2004
presented by HRTrainingCenter.com
Required Minimum Distribution Rules
Nationwide on February 1, 2004
presented by HRTrainingCenter.com
Participant Loans - Working with the Final Regulations
Nationwide on February 12, 2004
presented by HRTrainingCenter.com
Current Issues With 401(k) Plans
Nationwide on February 19, 2004
presented by HRTrainingCenter.com
Certificate in Employee Benefits Law Seminar
in California on February 23, 2004
presented by Institute for Applied Management & Law, Inc.
Advanced Certificate in Employee Benefits Law Seminar
in Nevada on May 19, 2004
presented by Institute for Applied Management & Law, Inc.
Newly Posted or Renewed Job Openings
Plan Administrator
for Benefit Resources, Inc.
in CA
Client Services Specialist
for Expertplan, Inc.
in NJ
Compliance and Reporting Department Manager
for Phoenix Area TPA
in AZ
Employee Benefits Tax Senior Manager
for Deloitte & Touche USA LLP
in TX
Qualified Plan Sales Representative
for Metavante 401(k) Services
in CA
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