| BenefitsLink Retirement Plans Newsletter |   |
August 12, 2004
Today's sponsor: DATAIR Employee Benefit Systems, Inc.
(Click on company name or banner to learn more.)
DATAIR Pension & Benefits Software Sale License one DATAIR system and receive another one of equal or lower price without license fee!* Regardless if you're just starting out in the business or looking to expand your services, you can take advantage of this limited time offer. Choose from: DC/401(k) System Retirement Plan Documents Defined Benefit System Pension Reporter Cafeteria Administration Cafeteria Plan Documents Client Manager Contact sales@datair.com or call 1-888-328-2474. (*Restrictions apply; see website for details.)
(Please visit our sponsors. We try to make sure their products and services will be of interest to you. Thanks! --Editor)
United Airlines Unions Turn Up Heat Over Pension Funding
Excerpt: "On Wednesday, the eve of a United board meeting, the International Association of Machinists and Aerospace Workers asked the bankrup.tcy court to appoint a trustee to oversee United's bankrup.tcy, saying management has 'thrown away the trust and respect of its employees.'" (Chicago Tribune; one-time registration required)
Bookmark: Celebrating 401(k) Day
Includes a Participant Center and a Plan Sponsor center. Excerpt: "On this site you'll find retirement sources designed solely with YOU in mind. We have just what you need to make the best decisions concerning your 401(k0 plan." (401kday.org, published by the Profit Sharing/401(k) Council of America)
Opinion: Retirement In Peril
Excerpt: "[C]ompanies used every loophole possible to avoid fully funding their pensions with annual contributions--but made sure that executives were still paid obscene amounts of money. Companies--like too many Americans--felt fat and happy in the 1990s when the stock market inflated the market values of the pension fund portfolios; those companies moved from safer investments like bonds into the riskier, casino-like atmosphere of the stock market." (ProgressiveTrail.org)
Marin County California Pension Board Cracks Down on Travel Rules
Excerpt: "The Marin County pension board cracked down on travel by board members yesterday, voting 7-2 after a two-hour debate to limit executives to one out-of-state trip a year - and five overall." (Marin Independent Journal)
Opinion: Orange County California Pension Improvements are Public Ponzi Scheme
Excerpt: "A Ponzi scheme is a fraud that uses investors' money to pay inflated returns to earlier investors until the whole mess collapses. That's the definition. What's an example? Government pensions. The latest is a contract proposal that would give employees of Orange County pensions of up to 100 percent of their salaries." (PressTelegram.com)
Big Court Victory for Jenkens & Gilchrist ESOP Team (PDF)
6 pages. Excerpt: "We are pleased to report a major victory that we have obtained in federal court on behalf of LaSalle Bank N.A., in its capacity as the trustee of the Amsted Industries, Inc. ESOP." (Jenkens & Gilchrist)
Links to Items on Executive Comp, Benefits in General
California High Court to Rule on Validity of Same-Sex Marriages Through San Francisco Mayor's Office
Excerpt: "Exactly six months ago, San Francisco Mayor Gavin Newsom sparked equal parts elation and outrage when he allowed same-sex couples to get married in the famously g.ay-friendly city -- even taking part by officiating at some unions. On Thursday, the California Supreme Court was set to decide if Newsom exceeded his authority." (AP via Yahoo! News)
An Early Test for Same-Sex Massachusetts Marriage
Excerpt: "One activist lawyer in Florida is pushing ahead on his own to force states to recognize same-sex 'marriages' in Massachusetts and elsewhere by challenging federal law, contrary to the wishes of the nation's largest groups supporting homose.xual rights." (Washington Times)
Hewitt Federal Legislation Quick Guide: August 10, 2004
Excerpt: "Hewitt's Federal Legislation Quick Guide provides short updates on federal legislation that is currently under active consideration by Congress or has recently been enacted into law, regarding health and welfare benefit plans, retirement plans, and human resources and employment law. Click ... to learn more about pending legislation in each area. These files were updated on August 10, 2004." (Hewitt)
Newly Posted Events
18th Annual Cincinnati Employee Benefits Conference
in Ohio on June 9, 2005
presented by Cincinnati Bar Association - Employee Benefits Committee
Newly Posted Press Releases
Federal Retirement Board Selects Center for Fiduciary Studies to Provide Fiduciary Training
(Center for Fiduciary Studies)
Farzaroli Corporation In Consulting Role for TPAs
(Farzaroli Pension Corporation)
Newly Posted or Renewed Job Openings
Director of Pension Administration
for Associated Pension Consultants
in CA
Litigation Counsel
for American Express
in MN
Pension Internal Wholesaler
for Minnesota Life
in MN
Handy Links:
- View Today's Active Message Threads
- Search BenefitsLink
- Using the Web for Employee Benefits Research
- Employee Benefits Library
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