| BenefitsLink Retirement Plans Newsletter |   |
August 25-26, 2004
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Current Considerations and New Challenges for ERISA 404(c) Compliance (PDF)
14 pages. Excerpt: "The recent focus on mutual fund trading practices and fee arrangements has raised particular concerns for retirement plan sponsors who maintain defined contribution individual account plans that allow participants to direct the investment of their accounts." (The Bureau of National Affairs via Gardner Carton & Douglas)
Overview: The Saver's Credit: Issues and Options (PDF)
16 pages. Excerpt: "This article provides an overview of the rationale, history, and possible modifications to the saver's credit, which was enacted as part of the 2001 tax legislation." (Tax Notes via the Urban Institute)
U.S. Expresses Concern About UAL Pensions
Excerpt: "The Bush administration expressed fresh concern on Wednesday about the possibility bankrupt United Airlines (UALAQ.OB) might scrap its employee pension plans, which would shift the burden of paying benefits to the government." (Reuters via The New York Times (one-time registration required))
Opinion: Airline Pension and Labor Negotiations on Autopilot
Excerpt: "Bad practices linger, even when the consequences are dire. Companies, like people, don't much like to change." (The New Yorker)
Enlightened Self-interest at Work: How to Scrutinize Your Pension Plan's Solvency
Excerpt: "If you're among the 41 million Americans in 50,000-plus traditional pension plans, there's still time to determine whether promises made by your company's plan will be promises kept." (CBS MarketWatch.com)
For Mutual Funds, First the Slap. Now Comes the Pinch
Excerpt: "For all the attention focused on the investigations, regulators have yet to address broader issues that are likely to put more money back in investors' pockets - and have a heftier impact on fund companies' bottom lines. 'As scandalous as the scandal was,' said Roy Weitz, who runs a Web site called Fundalarm.com, 'so far the big-dollar issues have escaped being fixed.'" (The New York Times; one-time registration required)
Pensions on a Precipice: What Could Happen If UAL Offloads Its Retirement Plan on the Feds?
Excerpt: "The threat by UAL, parent of struggling United Airlines, to walk away from its four pension plans has set off shock waves throughout the airline industry." (BusinessWeek Online)
Company Focus: 40 Companies Sitting on Pension Time Bombs
Excerpt: "United Airlines' struggles have put a new focus on a pension guaranty system that is near collapse. Reform could take a huge chunk out of the bottom line on big offenders." (MSN Money)
Pension Bailout Called Possibility
Excerpt: "The pension shortfall among U.S. companies may force the federal agency that insures retirement plans to seek a taxpayer bailout similar to the one during the savings and loan crisis, according to the Cato Institute, a policy research group." (Bloomberg News via Chicago Tribune; one-time registration required)
Opinion: How to Reduce the Cost of Federal Pension Insurance
Cato Policy Analysis by Richard A. Ippolito. A former Pension Benefit Guaranty Corporation (PBGC) economist presents a plan to improve the underfunded status of the agency. (Cato Institute)
Links to Items on Executive Comp, Benefits in General
Hewitt Federal Legislation Quick Guide as of August 24, 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." (Hewitt)
Overview: New DOL Fairplay Rules Change FLSA Overtime Exemption Tests
Excerpt: "In April, 2004, the U.S. Department of Labor (DOL) issued new regulations for determining when 'white collar' employees may be treated as 'exempt' from the minimum wage and overtime requirements of the Fair Labor Standards Act of 1938 (FLSA). The FLSA requires employers to pay employees, other than exempt employees, at least the minimum wage and overtime pay at 1.5 times their regular pay rate, for each hour worked over 40 hours in a workweek." (Hay Group)
Opinion: There's a Better Way to Handle Stock Options
By Graef Crystal. Excerpt: "It's time for U.S. companies to consider a better alternative to using free shares of stock or stock options as their long-term incentive plan: a combination of in-the-money and out-of-the-money stock options." (Bloomberg News)
Newly Posted Events
Consumer Health Care Breakthroughs -- Employees Can Save You Money
Nationwide on August 27, 2004
presented by WorldatWork
Mutual Fund Trading Rules
in California on September 23, 2004
presented by Western Pension & Benefits Conference - Orange County Chapter
QDROs - Bringing Clarity to Confrontation
Nationwide on September 14, 2004
presented by SunGard Corbel
The Monsanto Decision: What Does It Mean For Pension Plan Sponsors and Members?
Nationwide on September 10, 2004
presented by International Foundation of Employee Benefit Plans
Washington Update
in Illinois on September 7, 2004
presented by ASPA Benefits Council of Chicago
What World Class Companies Spend on HR
Nationwide on September 15, 2004
presented by WorkWorlds / HRTrainingCenter.com
Newly Posted Press Releases
Arizona Company Honors Segal Co. with Supplier of the Year Award
(The Segal Company)
Lip Service: Big Government Republicans On Free Market Health Care Reform
(Americans for Free Choice in Medicine (AFCM))
Plan Sponsors Gain Advantage with New CPI Offering
(CPI Qualified Plan Consultants, Inc.)
Grassley Urges Rewrite of Rule Costing Employees Health Savings
(Senator Chuck Grassley, Chairman, Finance Committee)
The CPA's Guide to Retirement Plans for Small Businesses
(American Institute of Certiifed Public Accountants (AICPA))
Newly Posted or Renewed Job Openings
Retirement Services Implementation Manager - Baltimore / Atlanta area
for ADP Retirement Services
in GA, MD
Inside Sales Representative
for ExpertPlan, Inc.
in NJ
Senior Advisor, Pension Design
for NRECA
in VA
Field Sales Coordinator
for Transamerica
in MA
Vice President - Relationship Management
for BISYS Retirement Services
in PA
Relationship Manager
for BISYS Retirement Services
in PA
401(k) Specialist - Client Service and Compliance Skills
for ADP TotalSource
in GA
Retirement Plans Sales Specialist
for Waddell & Reed Financial
in KS, MO
Pension Consultant/Administrator
for TPA in San Diego, California
in CA
Plan Administrator
for Susquehanna Bank
in PA
Receptionist
for Leggette Actuaries, Inc.
in TX
Senior 401(k) Plan Specialist
for CitiStreet - A State Street and Citigroup company
in MA
Pension Administrator
for Qualified Plan Consultants, LLC
in IA
Inside Sales Representative
for BISYS Retirement Services
in PA
Director of Marketing Communications
for AIG Workplace Solutions
in TX
Handy Links:
- View Today's Active Message Threads
- Search BenefitsLink
- Using the Web for Employee Benefits Research
- Employee Benefits Library
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