| BenefitsLink Retirement Plans Newsletter |   |
September 8, 2004
Today's sponsor: Natalie Choate's Life and Death Planning for Retirement Benefits
(Click on company name or banner to learn more.)
The Essential Handbook for Estate Planners Do your clients expect you to know the best planning ideas for their IRAs and other retirement plans and the pitfalls to avoid? If so, Natalie Choate's book Life and Death Planning for Retirement Benefits will be an invaluable resource for your work. Thousands of pros swear by this handy desk reference, which covers everything from basic (such as minimum required distributions, pre-age-59½ distributions, trusts as beneficiaries) to advanced (such as disclaimers, non-citizen spouse, life insurance, TEFRA 242(b)). Including the forms, checklists and tables, you get 500 pages packed with information to help you win clients and avoid lawsuits.
(Please visit our sponsors. We try to make sure their products and services will be of interest to you. Thanks! --Editor)
US Air Pilots' Union Balks at Wage and Benefit Cuts
Excerpt: "The leader of a rebel pilot group at US Airways accused the company of demanding too many sacrifices from employees, saying that the airline's request for $295 million in annual wage and benefit cuts from the pilots had 'gone from need to greed.'" (The New York Times; one-time registration required)
Ownership Solutions: a Primer on Sharing Equity with Employees
The NCEO presents excerpts from a new booklet its executive director wrote on methods of sharing equity with employees, ranging from ESOPs to stock options to phantom stock. (National Center for Employee Ownership)
Women Win in Pension Case in Minnesota
Excerpt: "Back in the 1950s and early 1960s, it was legal to dismiss women for being married or pregnant -- but it may not be legal to dock their pensions as a result, according to the Eighth U.S. Circuit Court of Appeals." (AP via WCCO.com)
California Pension Plan Sued Over Fee Data: Media Organization Targets CalPERS Funds
Excerpt: "The California Public Employees' Retirement System, the largest U.S. public pension plan, with $166 billion of assets, was sued yesterday for failing to disclose the fees it pays managers of venture capital and hedge funds." (Bloomberg News via The Baltimore Sun; one-time registration required)
To Stretch Out Nest Eggs, Groups Push Annuities
Excerpt: "A growing chorus of voices from Capitol Hill to Wall Street is pushing, of all things, the much-maligned annuity. With the vanguard of the baby boomers approaching retirement, many face the risk of living too long with too little money in their nest eggs." (Wall Street Journal via SFGate.com)
Delta Airlines Business Chronology: Three Years of Pain
Excerpt: "Some key events in Delta's three-year slide, which followed several years of strong profits." (The Atlanta Journal-Constitution; one-time registration required)
Disaster Relief Relating to PBGC Deadlines in Response to Bonnie and Charley in Florida
Excerpt: "The Pension Benefit Guaranty Corporation is waiving certain penalties and extending certain deadlines in response to the major disaster declared by the President of the United States on account of damages from Tropical Storm Bonnie and Hurricane Charley beginning August 11, 2004, in Florida. The PBGC is taking this action under its authority in section 4002(i) of ERISA, which was added by the Victims of Terrorism Tax Relief Act of 2001, Pub. L. No. 107-134, 115 Stat. 2427." (Pension Benefit Guaranty Corporation)
White Paper: The New Business Model for 401(k) Advisory Services (PDF)
3 pages. Excerpt: "A growing number of observers are concluding that ERISA's Prohibited Transaction rules make it very difficult for registered reps to legally support retirement plans and they further believe that commissionable products will lose relevancy for retirement specialists." (Phil Chiricotti, The Center for Due Diligence, on McHenry Consulting)
Older Workers Worry About Pension Security
Excerpt: "Older workers and retirees who have toiled for their companies for decades have long viewed their pensions as money in the bank, even years before the checks arrived." (AP via The New York Times; one-time registration required)
Employers Say Defined Benefit Retirement Plans Equal Employee Retention
Excerpt: "More than eight out 10 (84%) companies that offer a defined benefit plan said the plan has a positive impact on employee retention." (PLANSPONSOR.com; one-time registration required)
Links to Items on Executive Comp, Benefits in General
When It Comes to Outsourcing Locations, No Place Is Too Exotic, Not Even Cleveland
Excerpt: "Last year, when management at call-center services specialist LiveBridge Inc. was searching for a place to house the company's Spanish-language operation, it looked south of the border -- way south of the border. After considering the more traditional outsourcing venues in Latin America, the Portland, Oreg.-based company decided to build its state-of-the-art call center in Argentina." (CFO.com)
Book: The State of Working America 2004/2005
Excerpt: "'If you want to know what happened to the economic well-being of the average American in the past decade or so, this is the book for you. It should be required reading for Americans of all political persuasions.' --Richard Freeman, Harvard University" (Economic Policy Institute)
Welcome to new BenefitsLink advertiser ftwilliam.com
Excerpt: "www.ftwilliam.com offers the employee benefits professional the highest quality plan documents and forms at highly competitive prices. Plan documents on a per document basis are only $50/adoption agreement, or $100/volume submitter document. An annual subscription to all documents is only $1,500. The Form 5500 package (including all schedules) and the IRS/PBGC form package are only $250 each. Absolutely no start-up fees, annual software maintenance or other hidden charges."
Newly Posted Events
Critical Issues in Establishing Employee Ownership
Nationwide on September 9, 2004
presented by Beyster Institute
ERISA Fiduciary Responsibility and Liability
in New York on November 11, 2004
presented by Dechert LLP
Implications of the New Health Insurance Numbers
in District of Columbia on September 10, 2004
presented by Alliance for Health Reform
Same-Sex Marriages and Domestic Partner Benefits
Nationwide on September 15, 2004
presented by ABA Joint Committee on Employee Benefits
Trustees Training Program-Part II
in Nevada on November 8, 2004
presented by International Foundation of Employee Benefit Plans
U.S. Labor Department Sponsors Seminar On Federal and State Health Plan Laws
in Delaware on November 15, 2004
presented by U.S. Department of Labor
U.S. Labor Department Sponsors Seminar On Federal and State Health Plan Laws
in Louisiana on December 8, 2004
presented by U.S. Department of Labor
UCLA Anderson Forecast Presents: 'What Does a Graying America Mean for Business?'
in California on September 8, 2004
presented by UCLA Anderson School of Management
Wrap Plans
Nationwide on September 22, 2004
presented by Employee Benefits Institute of America Inc. (EBIA)
Newly Posted Press Releases
401(k) Participants Forfeit $30 Billion
(Profit Sharing/401(k) Council of America (PSCA))
PLANSPONSOR Unveils a New Standard of Excellence for Financial Advisors This 401(k) Day
(PLANSPONSOR)
New Survey Shows That U.S. Companies Still Allocate Significant Human and Financial Resources to Retirement Plans Despite Plan Provider Services
(Diversified Investment Advisors)
AMA: Physicians Make a Case For Fair Treatment
(American Medical Association (AMA))
Mortgage Benefits Corp. Announces Agreement with Palmer & Cay Benefits Consulting Firm
(Mortgage Benefits Corporation)
ICICI Infotech Partners with The HR Consulting Group to Enhance Reach and Service Offerings in the Insurance TPA Market
(ICICI Infotech Ltd.)
Labor Day Outlook: Low-Wage Workers Want Better Jobs Not More Jobs
(Corporate Voices for Working Families)
Newly Posted or Renewed Job Openings
Benefits Director
for State of South Dakota
in SD
Compliance Administrator
for Precept Group, Inc.
in CA
Director, Qualified Plan Administration
for Pen-Cal
in CA
Communications Consultant - Retirement Services
for MassMutual Financial Group
in MA
401(k) Administrator
for Alliance Benefit Group of New England
in NH
Handy Links:
- View Today's Active Message Threads
- Search BenefitsLink
- Using the Web for Employee Benefits Research
- Employee Benefits Library
Copyright 2004 BenefitsLink.com, Inc.; except that you can reprint this newsletter in full (if you also include this boilerplate part) without obtaining our permission.
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Editor and Publisher: David Rhett Baker, J.D.
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