| BenefitsLink Retirement Plans Newsletter |   |
August 27, 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)
Text of Final SEC Regs on Disclosures About Portfolio Managers at Mutual Funds (PDF)
19 pages. Excerpt: "We are adopting, with several modifications to address commenters' concerns, amendments that require a fund to provide disclosure in its [Statement of Additional Information] regarding other accounts for which the fund's portfolio manager is primarily responsible for the day-to-day portfolio management." (U.S. Securities and Exchange Commission)
Greenspan Frets About Pension Prospects at Jackson Hole Summit
Excerpt: "Greenspan probably will explain his warning made in February this year that the U.S. may be 'unable' to meet the 'enormous demands' of its pensions at an annual meeting with central bankers in Jackson Hole, Wyoming today." (Bloomberg.com)
Greenspan Warns on Baby Boomer Benefits
Excerpt: "Federal Reserve Chairman Alan Greenspan said Friday that the country will face 'abrupt and painful' choices if Congress does not move quickly to trim the Social Security and Medicare benefits that have been promised to the baby boom generation." (AP via The News Tribune - Tacoma, WA)
SEC Turns Up the Heat on 401(k) Fiduciaries
Excerpt: "This is not an easy time to be a 401(k) plan fiduciary. With frightening regularity, attacks have been launched by government agencies and plan participants, some successfully, at fiduciaries. And never has the group of potential plan fiduciaries been so large." (Littler Mendelson via BNA Tax Management)
IRS Lists Common Mistakes Made by Form 5330 Filers
Excerpt: "According to the IRS, filers of Form 5330 (Return of Excise Taxes Related to Employee Benefit Plans) commonly make … mistakes or errors in preparing their returns…." (CCH Pension & Benefits News)
Morningstar Rolls Out 'Fiduciary Grade' for Mutual Funds (PDF)
2 pages. Excerpt: "The Morningstar Fiduciary Grade for mutual funds is designed to help investors further research, identify, and compare fund managers and fund companies that do a good job--or a poor job--of aligning their interests with those of fund shareholders." (Morningstar)
Pilots Might Alter Their Pension Plans: Northwest Weighs Retirement Benefits
Excerpt: "Continental Airlines Inc. and Northwest Airlines Corp. pilots might offer to revamp their pensions after a United Airlines threat to terminate its pension plans to save money sparked worker fears that a trend might be starting." (Bloomberg via Detroit Free Press)
How Do Individual Accounts Work in the Swedish Pension System?” (PDF)
10 pages. Excerpt: "In 1998, Sweden introduced a second tier of mandatory individual accounts -- the Premium Pension -- in the public system.... This brief evaluates the Swedish experience with individual accounts to date and discusses the lessons that can be learned from the first four years." (Annika Sundén published by the Boston College Center for Retirement Research)
Opinion: Why 401k Reform Must be on the Presidential Campaign Agenda
Excerpt: "It may be too late to reverse many Baby Boomer fortunes; some of them will probably have to keep working into their 70s or later. But reversing the retirement shortfall for their younger cohorts could be readily accomplished by adopting the 10-step legislative reform proposal that tackles three key issues: increasing 401k coverage, boosting 401k account balances and mandating prudent investment practices." (Jane White of the Retirement Solutions Foundation, published by 401kHelpCenter.com)
Links to Items on Executive Comp, Benefits in General
Frequently Asked Questions (and Answers) About Employee Benefits
Excerpt: "If you're looking for fast answers to basic questions about retirement and health issues, we've repackaged a lot of our most popular data in an effort to get you the data you need quickly. In short, we've now posted FAQs (as in frequently answered questions, complete with answers) on the EBRI Web site. It's the perfect venue when you need a quick factoid or data bit rather than the comprehensiveness of an EBRI report." (Employee Benefit Research Institute (EBRI))
FASB Modifies Options Expensing Proposal
Excerpt: " A split Financial Accounting Standards Board (FASB) has retreated a bit on its planned stock option expensing plan by deciding to stick with existing rules on accounting for income taxes of option awards. FASB voted to keep the approach in nine-year old rules on employee stock compensation (FASB Statement No. 123), which the board's March 31 draft expensing plan would replace or amend." (PLANSPONSOR.com; one-time registration required)
Newly Posted Events
Fundamentals of Health & Welfare Plans
in Massachusetts on September 14, 2004
presented by International Society of CEBS - Greater Boston Chapter
New Rules, New Opportunities for Consumer Driven Health Care Plans
Nationwide on August 27, 2004
presented by Hewitt Associates LLC
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
Trend-Setting Conference Analyzes The Impact of Same Sex Marriage on Employer Benefits Costs
in New York on October 25, 2004
presented by Wall Street Transcript
Newly Posted Press Releases
Ceridian Expands Employee Effectiveness Offerings with Workstream’s Employee Discount Program
(Ceridian)
Mullin Consulting Promotes Segal to VP Post
(Mullin Consulting)
Great-West Healthcare Rolls Out Free Employee Education; Program Will Help Employers Control Health Care Costs
(Great-West Life & Annuity Insurance Company)
Statement of Labor Secretary Elaine L. Chao - Association Health Plans Needed to Ensure More Americans Have Access to Affordable Health Insurance
(U.S. Department of Labor, Office of Public Affairs, Washington, D.C.)
Newly Posted or Renewed Job Openings
Pension Paralegal / Plan Administrator
for Actuarial consulting and administration firm
in NY
Pension Administrator
for The Nolan Company
in KS
Human Resource Legal Consultant
for Hewitt Associates
in IL
ERISA Attorney
for Large Philadelphia based law firm with over 480 attorneys nationwide.
in PA
Supervisor, Benefits (Retirement)
for Allied Waste Industries, Inc.
in AZ
ESOP Administrator
for Polycomp Administrative Services, Inc. in Roseville-Northern California
in CA
Handy Links:
- View Today's Active Message Threads
- Search BenefitsLink
- Using the Web for Employee Benefits Research
- Employee Benefits Library
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