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January 28, 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)
Bookmark: PBGC 2004 Premium Instructions and Forms
2004 Estimated Premium Package includes Form 1-ES Instructions, Form 1-ES; 2004 Premium Payment Package includes Final Form Instructions, Form 1-EZ, Form 1, and Schedule A. (Pension Benefit Guaranty Corporation)
Senate to Vote on Pension Funding Legislation
Excerpt: "The popular legislation, heading to a final vote Wednesday, also gives a partial reprieve to companies, specifically airlines and steelmakers, that have fallen behind in their pension plan payments. It also provides relief for unions and others involved in multi-employer pension plans." (AP via Washington Post)
Spitzer to Push Mutual Fund Fee Reductions, Other Reforms
Excerpt: "New York State Attorney General Eliot L. Spitzer yesterday vowed to keep pressing for fee reductions and other reforms in the mutual fund industry, saying the troubled sector is fighting attempts to make it disclose more information." (Washington Post)
Witness List and Prepared Testimony at Jan. 27 Hearing on Mutual Fund Fees and Misgovernance
Excerpt: "The purpose of this hearing is to examine the fee structure of mutual funds that may lead to conflicts of interest, mislabeled costs and other practices in the industry that may be harmful to investors." (U.S. Senate Committee on Governmental Affairs, Subcommittee on Financial Management, the Budget, and International Security)
Mutual Fund Whistleblower Tells of Beating
Excerpt: "He was dragged from his car and beaten with a brick after confronting an investment-company superior about trading abuses in mutual funds, Peter Scannell told Congress Tuesday." (AP via Washington Post)
GAO Testimony: More Disclosures Could Increase Transparency of Mutual Fund Fees, Other Practices
23 pages; by Richard J. Hillman, director, financial markets and community investment, before the Subcommittee on Financial Management, the Budget and International Security, Senate Committee on Governmental Affairs. GAO-04-317T, January 27. (U.S. General Accounting Office)
Rhode Island Officials Try to Stop Police Officers' Pensions
Excerpt: "The city [of Providence, R.I.] suspended two police officers Friday and is trying to revoke the pension benefits of a former police chief and a former captain over allegations of cheating on police promotional tests." (AP via FindLaw.com)
Report Puts Spotlight on Postal Service Retirement Benefits
Excerpt: "Congress and the Bush administration are poised to take a hard look at the pension and retirement health care benefits that would be provided to 800,000 employees of the U.S. Postal Service." (Washington Post)
Experts Say Save Five Percent More for Retirement
Press release (1/27/04). Excerpt: "At a hearing today on the nation's savings crisis, the Chairman of the U.S. Senate Special Committee on Aging called for younger American's to save more and said he would work to reform the nation's tax laws to make saving for retirement more tax friendly." (U.S. Senate Special Committee on Aging)
Witness List and Prepared Testimony at Jan. 27 Hearing on Crisis in American Retirement Planning
Witnesses: Jack VanDerhei, Ph.D., CEBS, Temple University; John Goodman, Ph.D., National Center for Policy Analysis; Jagadeesh Gokhale, CATO Institute. (U.S. Senate Special Committee on Aging)
Opinion: Democrats Curiously Mum About Social Security Reform
Excerpt: "Social Security is not only the largest U.S. government program, accounting for 23 percent of federal spending, it is the largest government program in the world.... The 68-year-old program is also in crisis." (Cato Institute)
Another Question is Answered in the Stop, Look & Listen: Railroad Retirement Q&A Column
How solvent is Railroad Retirement? (BenefitsLink.com)
Links to Items on Executive Comp, Benefits in General
DALBAR Cites Standards, Shortcomings for Benefit Plan Sponsor Web Sites
Excerpt: "DALBAR Inc. has recently published its DC Plan Sponsor Web Site Benchmarks report, outlining what the Boston-based firm found to be the most prevalent Web site features, as well as the areas needing the most improvement in its review of plan sponsor Web sites across the industry." (PLANSPONSOR.com; one-time registration required)
For Executive Comp, Restricted Stock Is In, Options Are Out
Excerpt: "Restricted stock is hot; stock options are not. Microsoft and Amazon.com--leaders in the stock option revolution of the last decade--have both switched from broad-based stock option plans to restricted stock plans. Restricted stock is also the new darling of executive compensation." (PLANSPONSOR.com; one-time registration required)
Overview: the Final Split-Dollar Regulations
Excerpt: "In its explanation the Treasury Department expressly declined to address the issue of whether the Sarbanes-Oxley Act of 2002 applies to split-dollar arrangements, noting that the interpretation and administration of the act fall within SEC jurisdiction. As a result of the uncertainty CPAs should advise public companies to discontinue payments under split-dollar arrangements for directors and officers until the SEC addresses the issue, if ever." (Journal of Accountancy)
Sears Pares Benefits Program
Excerpt: "Sears, Roebuck and Co. is cutting compensation and benefit programs, announcing plans to reduce bonuses, curtail stock option grants and phase out pension plans for younger staffers." (Chicago Tribune; one-time registration required)
Newly Posted Events
Certificate of Achievement in Public Plan Policy (CAPPP) – Pension and Health Part II
in New Mexico on April 1, 2004
presented by International Foundation (of Employee Benefit Plans, or IFEBP)
Investments Institute
in Arizona on April 28, 2004
presented by International Foundation (of Employee Benefit Plans, or IFEBP)
Health Savings Accounts: A New Option for Consumer-Directed Health Plans
Nationwide on February 12, 2004
presented by International Foundation (of Employee Benefit Plans, or IFEBP)
50th Annual Employee Benefits Conference
in Louisiana on September 19, 2004
presented by International Foundation (of Employee Benefit Plans, or IFEBP)
In Search of Retirement Security: The Changing Mix of Social Insurance, Employee Benefits, and Personal Responsibility
Nationwide on January 23, 2004
presented by Kaiser Family Foundation
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
Plan Freezes, Terminations, and Mergers
Nationwide on March 18, 2004
presented by HRTrainingCenter.com
Made in America 2004, The Inaugural 2004 Taft Hartley Benefits Summit
in Nevada on February 18, 2004
presented by Financial Research Associates
Newly Posted Press Releases
Employees Anticipate Comfortable Retirements, but Lack Investment Confidence and Discipline, Hewitt Study Shows
(Hewitt Associates LLC)
High-Tech Global Compensation Survey
(Culpepper and Associates, Inc.)
FreeERISA.com Launches New Premium Service with Specialized access to Pension and Benefits Data, Including a Mutual Fund Finder.
(FreeERISA.com)
Broker-Carrier Market Share Database
(FreeERISA.com)
Newly Posted or Renewed Job Openings
Implementation and Processing Services Manager
for Ceridian
in FL
Benefits Lawyer/Corporate Generalist
for Welch's
in MA
Retirement Specialist
for Nationwide Retirement Solution, a Nationwide Financial company
in AL, AZ, CA, FL
Defined Contribution Administrator/Consultant
for Pension Consulting Firm
in NJ
Asset Liability Analyst: Retirement Advisory Platform
for SEI Investments
in PA
Trust Administrator
for Hancock Bank
in MS
Handy Links:
- View Today's Active Message Threads
- Search BenefitsLink
- Using the Web for Employee Benefits Research
- Employee Benefits Library
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