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Retirement Plans
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May 4, 2004 - 13466 subscribers
Today's sponsor: SunGard Corbel Inc.

(Click on company name or banner to learn more.)

Significantly Reduce Your Research Time! 
Don't waste your time with a 5500 manual that merely rewrites the instructions!
The 5500 Filing Guide is designed to help you understand annual Form 5500
rules for pension and welfare benefit plans – covering what the DOL is asking and
why they are asking it. Updated for 2003 Forms and loaded with examples,
The Guide is available as an electronic reference tool built right into
Relius® Government Forms 5500, or in a hardcopy, printed format.

(Please visit our sponsors. We try to make sure their products and services will be of interest to you. Thanks! --Editor)
In the Federal Thrift Savings Plan, It's Possible to Save Too Fast
Excerpt: "Higher-paid employees investing at the biweekly maximum percentage limit can hit the dollar cap before the end of a calendar year. When the dollar limit is reached, individual contributions stop until the next calendar year. That can be important to those under FERS, because they get biweekly matching government contributions ..." (Washington Post; one-time registration required)

IRS Preparing Guidance on TSAs, 457 Plans and Funding Notices
Excerpt: "Forthcoming guidance is planned on the rules for 403(b) plans and 457 plans and on the notice requirements under the recently enacted Pension Funding Equity Act of 2004 (P.L. 108-218), according to three key IRS officials." (CCH News & Information Library)

China Grapples with Pensions as Iron Rice Bowl Rusts
Excerpt: "The country's 'iron rice bowl' welfare system that once provided cradle-to-grave social protection has crumbled, replaced by a piecemeal system that has many shortcomings and could leave millions of people destitute in old age, experts say." (Reuters via Washington Post; one-time registration required)

Low Birth Rates, Aging Pose Challenge for Europe
Excerpt: "The study assesses which policies can prevent or mitigate the adverse consequences of current low fertility and population ageing. A framework highlights the interrelationships among government policies, macro-level conditions and household-level demographic behaviour. Guided by this framework, the research literature was reviewed; European demographic data were examined; and case studies of five countries were conducted." (RAND Corporation)

Pennsylvania Legislator Hopes To Stop Teachers Convicted of Sex Crimes from Collecting State Pension
Excerpt: " A state lawmaker wants to close what she says is a loophole in state law that allows public teachers convicted of sex offenses against students to collect pensions. The Public Employee Pension Forfeiture Act says public school employees can lose their pensions if they're convicted of crimes such as stealing PTA funds or forging a name on a school document." (Pocono Record)

Federal Proposals Are Designed To Promote Saving, Investing
Excerpt: "With the baby boomer generation moving closer to retirement, something has to be done to motivate baby boomers to look out for themselves financially. Among the big changes looming: Lifetime Savings Accounts ..." (Sacramento Bee)

Social Security Reform: Solutions Outside the Box
Excerpt: "This Capitol Hill briefing focused on Social Security reform proposals that include individual accounts. Congressional staffers and policy-makers heard a panel of actuarial experts on such topics as design, administration, investment, payout, and advantages and disadvantages of such proposals." (American Academy of Actuaries)

Links to Items on Executive Comp, Benefits in General

Nonqualified Deferred Compensation Provisions Added To International Tax Bill
Excerpt: "Charles Grassley, Chairman of the Senate Finance Committee, has added amendments to the Jumpstart Our Business Strength Act (S. 1637) that would adversely change longstanding tax rules used by corporations to provide non-qualified deferred compensation to their employees.... The amendments generally follow the nonqualified deferred compensation provisions previously included in last year's [NESTEG] pension bill with some important exceptions." (McDermott, Will & Emery)

Failure to Provide Plan Documents Resulted in Statutory Penalties of $160,000
Gorini v. AMP Incorporated, 2004 U.S. App. LEXIS 7460 (3d Cir. 2004). Excerpt: "Although the trial court determined that the employee was not entitled to severance benefits, it assessed a penalty against the employer in the amount of $160,780 for the employer's failure to provide the requested documents. The employer appealed the penalty assessment, arguing that ... the employee was not a plan participant and consequently was not entitled to penalties under ERISA Section 502(c) ..." (Employee Benefits Institute of America Inc. (EBIA))

G.ay Couples Praise N.J. Domestic Partner Law But Want More
Excerpt: "G.ay activists say the fight for g.ay marriage will go on. 'I can't tell you what it means both emotionally and legally for my partner and me to be recognized in the eyes of the state,' said Steven Goldstein, the New Jersey campaign manager for g.ay rights group Lambda Legal Defense and Education Fund. 'But those who thought the domestic-partnership law would be enough to assuage the g.ay and les.bian community are gravely mistaken.'" (The Advocate)

Same-Sex Marriage Adds To Employers' Challenges Under New California Domestic Partner Laws
Excerpt: "Recent moves toward legal recognition of same-sex marriage in two Canadian provinces and Massachusetts, as well as the issuance of same-sex marriage licenses by the City and County of San Francisco, have confused the picture for employers trying to understand their legal obligations under California's broad new domestic partnership law." (Littler Mendelson)

Newly Posted Events

Benefits Conference for Public Employees
in District of Columbia on July 12, 2004
presented by International Foundation of Employee Benefit Plans

Certificate of Achievement in Public Plan Policy (CAPPP) - Health Part 1
in District of Columbia on July 10, 2004
presented by International Foundation of Employee Benefit Plans

Certificate Series - Basic Compensation Concepts
in Rhode Island on July 21, 2004
presented by International Foundation of Employee Benefit Plans

Certificate Series - Health Benefit Plan Basics
in Rhode Island on July 23, 2004
presented by International Foundation of Employee Benefit Plans

Certificate Series - Retirement Plan Basics
in Rhode Island on July 19, 2004
presented by International Foundation of Employee Benefit Plans

Employee Benefits in Bankruptcy Part I - The Basics
Nationwide on May 12, 2004
presented by ABA Joint Committee on Employee Benefits

Employee Benefits in Bankruptcy Part II- Emerging Splits Among the Courts
Nationwide on May 12, 2004
presented by ABA Joint Committee on Employee Benefits

Ethical Considerations in ERISA Litigation
Nationwide on May 27, 2004
presented by ABA Joint Committee on Employee Benefits

May Dinner Meeting
in Florida on May 26, 2004
presented by Florida West Coast Employee Benefits Council

Newly Posted Press Releases

Employee Stock Option Expert Offers Complimentary Client Analysis Using Its Industry-Leading StockOpter Insight Software
(Metrics Partners)
Newly Posted or Renewed Job Openings
Post a Help Wanted Ad

Sr. Staff Counsel – (Job Code: 25337)
for Northrop Grumman Corporation
in CA

Director of Health Care
for Ohio Public Employees Retirement System
in OH

Employee Benefits Trust Officer
for Regions Financial Corporation
in AL

Benefits Administrator
for Ogilvy & Mather
in NY

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