| BenefitsLink Retirement Plans Newsletter |   |
October 28, 2004
Today's sponsor: Pension Benefit Information
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(Please visit our sponsors. We try to make sure their products and services will be of interest to you. Thanks! --Editor)
Overview: DOL's Safe Harbor for Automatic Rollover of Cash-Out and Missing Participant Guidance (PDF)
5 pages. This newsletter summarizes DOL's safe harbor for automatic rollover of involuntary cash-outs from qualified retirement plans and guidance on defined contribution plan missing participants." (Epstein Becker & Green, P.C.)
Investment Company Institute Mutual Fund Survey Shows Retirement Saving Is the First Priority
Excerpt: "A ... survey found that mutual fund ownership is on the rise after two years of decline, an encouraging signal that Americans are starting to save more money. But although most investors say retirement is their No. 1 priority, experts say the vast majority remain in danger of shortchanging this goal. According to a study by the Investment Company Institute ... 48.1 percent of households own mutual funds, a slight increase over last year but still below the peak of 52 percent in 2001." (AP via The Washington Post; one-time registration required)
Kerry Responds to Pension Forum Questions on Retirement Policy While Bush Declines Opportunity (PDF)
6 pages. Excerpt: "Twelve organizations representing employee benefits professionals and Pensions & Investments submitted questions for the candidates on issues ranging from pension plan regulation to cash balance plans to national retirement policy. .... Mr. Kerry's campaign answered the questions; Mr. Bush's representatives declined to respond 'due to time constraints.'" (Pensions & Investments via Small Business Council of America)
Links to Items on Executive Comp, Benefits in General
US Airways: Court OKs Trimming Benefits and 18% Pay Cut for Pilots
Excerpt: "A judge on Tuesday approved a deal in which US Airways Group Inc. will cut pilot pay 18 percent and trim benefits to save $1.85 billion over five years and help exit bankrup.tcy protection. U.S. Bankrup.tcy Judge Stephen S. Mitchell also approved concession plans agreed to by three employee groups represented by the Transport Workers Union to provide savings of $6.6 million a year. The pilots ratified their givebacks last week." (Bloomberg News via Chicago Tribune; one-time registration required)
Delta Pilots Say Deal Is Done on Pay Concessions and Benefit Changes
Excerpt: "Leaders of Delta Air Lines' ... pilots union have approved a tentative package of concessions and will send it to ... members for a vote. The deal provides a 32.5% wage reduction from May 2004 levels, effective Dec. 1, with no increases for five years. It will also freeze the pilots' defined benefit retirement plan and give them a new defined contribution plan. Pilots will also receive about 30 million shares of Delta common stock, representing a 15% equity stake in the company." (TheStreet.com)
Hewitt Federal Legislation Quick Guide Updated October 26, 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 Associates)
Full Text of the Autumn 2004 "Compass" Published by Aon Consulting in the United Kingdom
8 pages. This quarterly edition contains the following articles: The Role of Hedging in Pension Funds, Flexible Benefits – A False Dawn or Some Real Action?, Expensing Share Options A New Challenge for Finance Directors, and Online Pensions Communications Delivering Benefits to Members and Schemes. (Aon Consulting)
Newly Posted Events
2004 Executive Briefing: New Developments in Business Succession Planning and ESOPs
in Massachusetts on December 2, 2004
presented by McDermott Will & Emery LLP
2005 Spring Conference
in California on May 19, 2005
presented by Western Pension & Benefits Conference - Orange County Chapter
Employer Securities in Retirement Plans - Opportunities and Issues
in California on February 17, 2005
presented by Western Pension & Benefits Conference - Orange County Chapter
How Healthy Are Your Health & Welfare Plans?
in California on November 18, 2004
presented by Western Pension & Benefits Conference - Orange County Chapter
Plan Disclosure & Communication
in California on March 17, 2005
presented by Western Pension & Benefits Conference - Orange County Chapter
Plan Governance in Light of Enron Litigation Results
in California on December 9, 2004
presented by Western Pension & Benefits Conference - Orange County Chapter
Rollovers, Distributions & Orphan Plans
in California on April 21, 2005
presented by Western Pension & Benefits Conference - Orange County Chapter
Newly Posted Press Releases
Employease Selected for Forbes 'Best of the Web' for Third Time
(Employease)
ERISA Advisory Council to Hold Final 2004 Meetings
(U.S. Department of Labor, Office of Public Affairs, Washington, D.C.)
ForYourFinancialHealth.com Demystifies Health Care Spending Accounts; WageWorks Launches Web Site to Help Consumers Understand FSAs and HSAs
(WageWorks Inc.)
Newly Posted or Renewed Job Openings
Senior Associate
for Pension Services Corporation
in MO
Human Resources Generalist
for AICPCU
in PA
Defined Benefits Quality Assurance Mgr.
for Hewitt Associates
in NJ
Benefits Compliance Manager
for Hewitt Associates
in IL
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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