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March 17, 2005
Today's sponsor: ASPPA • Working for America's Retirement™

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Immerse Yourself in ERISA Title 1 Issues

April 25 - 26, 2005 * Washington, DC

Get the latest regulatory and legislative updates on ERISA
at "The DOL Speaks 2005 Employee Benefits Conference." Every
session will feature both public and private sector speakers
presenting their unique perspective on Title 1 issues.

Featured Speaker: U.S. Secretary of Labor Elaine L. Chao

(Please visit our sponsors. We try to make sure their products and services will be of interest to you. Thanks! --Editor)
Too Much Company Stock in 401(k)s: Some Planners Think Zero Is Right Level; All Urge Caution
Excerpt: "Americans saving for retirement in 401(k) plans are still investing a boatload of money in their company stock in spite of the lessons learned in the wake of the WorldCom and Enron fiascos." (MarketWatch)

Opinion: A Fiduciary's Responsibility for Participant Investments
Excerpt: "Let's consider the fiduciary responsibility for the prudent investment of participant accounts. It may be surprising that I am suggesting that fiduciaries share some of the responsibility for participant investment results, but bear with me for that moment. We will go on this journey in a backward fashion; that is, we will start at the end and work our way back." (PLANSPONSOR.com; one-time registration required)

Policies Affecting the Looming Retirement of the Baby Boomers Must Take Many Issues into Account
Excerpt: "The coming retirement of the huge generation of baby boomers poses a myriad of problems for workers and employers in both the private and public sectors. These issues, which range from a potential loss of needed talent to financial woes to a slowdown in economic growth, are complex and interrelated and cannot be addressed successfully on a piecemeal basis." (The Century Foundation)

Analysis: The Administration's Single-Employer Pension Funding Proposal (PDF)
7 pages. Excerpt: "Plan terminations would have negative repercussions for national retirement security, the markets, employee morale, the Pension Benefit Guaranty Corporation (PBGC), and an employer's ability to manage its workforce. This outcome can be avoided. In this statement, we identify how some of these concerns can be addressed to ensure a strong pension system." (American Academy of Actuaries)

CalPERS Proposes Reducing Contribution Volatility
Excerpt: "A panel of the California Public Employees' Retirement System (CalPERS) has endorsed a plan to reduce volatility in government contributions to the massive retirement fund. The plan states that volatility should be reduced by 50% a year, according to the Sacramento Bee." (PLANSPONSOR.com; one-time registration required)

Groups Ask IRS for Phased Retirement Flexibility
Excerpt: "Proposed regulations on phased retirement need substantial revision and flexibility, according to testimony presented to the IRS and the U.S. Department of Treasury on March 14 in Washington, D.C. Testifying were representatives for several groups, including AARP, the American Benefits Council (ABC) and the Society for Human Resource Management (SHRM)." (Society for Human Resource Management)

Pension-Splitting QDRO Challenge Denied by Appeals Court
Excerpt: "A California appeals court has ruled that an ex-husband can not challenge the distribution date of a qualified domestic relations order (QDRO) that split pension funds simply because subsequent losses were incurred by only one party." (PLANSPONSOR.com; one-time registration required)

Managing Portfolio Transitions from a Plan Sponsor's View
Excerpt: "For plan sponsors, portfolio transitions are a time of vulnerability and stress. Moving assets from one manager to another is highly complex -- not only must the process be understood and the right strategy and transition manager be picked, but also the actual transition needs to happen as planned, all in an environment with a plethora of variables." (PLANSPONSOR.com; one-time registration required)


Links to Items on Executive Comp, Benefits in General

Demography Is Not Destiny, Revisited (PDF)
120 pages. Excerpt: "This report provides a framework and some of the basic data necessary to understand why the future of the United States will not be determined solely by anticipated changes in the size and age distribution of the population. Choices made through the political process and through market forces, in conjunction with demographic changes, will determine the future, the authors say." (Center on an Aging Society, Georgetown University via The Commonwealth Fund)

Michigan Ruling Goes Against Same-Sex Benefits: Proposal 2 Limits Options for Public Employees
Excerpt: "Defining marriage as the union of one man and one woman, as Michigan voters did with Proposal 2 in November, also signals the end of health care and other benefits for the same-sex partners of public employees in the state, according to an opinion issued Wednesday by Attorney General Mike Cox." (Detroit Free Press)

Same-Sex Partners of State and Local Government Employees Lose Benefits in Michigan
Excerpt: "Fueling a growing controversy over voter approval of Proposal 2 last fall, Attorney General Mike Cox ruled Wednesday that state and local governments are now prohibited from extending their benefits packages to same-sex partners of employees." (The Detroit News)

NYC Council Will Seek to Reinstate Law Giving Domestic Partners Benefits
Excerpt: "A day after a defeat in court, City Council members said yesterday that they would continue their legal push for a law requiring companies that do business with New York City to extend the same benefits to employees' domestic partners that they provide to spouses." (The New York Times; one-time registration required)

United Airlines Ends Special Executive Retirement Plan
Excerpt: "United Airlines said Wednesday in a regulatory filing that it has ended a special executive retirement program that protects their pension payments to save money. The supplemental retirement plan was ended on March 11, the airline disclosed in a 10-K filing with the U.S. Securities and Exchange Commission. It works by ensuring pension income when the benefits can't be paid because of IRS limits, United said in the filing." (MarketWatch)

Compensation of Non-Profit Organization Executives
Excerpt: "On target page, perform a quick search to find Form 990 Extracts. Retrieve data from ERI's library of close to 2 million Form 990, 990PF, and 990EZ reports." (Economic Research Institute)

Summary: Employer Costs for Employee Compensation -- December 2004
Excerpt: "Employer costs for employee compensation averaged $25.57 per hour worked in December 2004, the U.S. Department of Labor's Bureau of Labor Statistics reported today. Wages and salaries, which averaged $18.07, accounted for 70.7 percent of these costs, while benefits, which averaged $7.50, accounted for the remaining 29.3 percent." (U.S. Bureau of Labor Statistics)

Hewitt Federal Legislation Quick Guide Updated as of March 15, 2005
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)

Overview: USERRA Notice Requirements
Excerpt: "Effective March 10, 2005, the Department of Labor (DOL) issued an interim final rule requiring employers to provide its employees with notice regarding their rights, benefits and obligations under the Uniformed Services Employment and Reemployment Rights Act of 1994 (USERRA). USERRA provides employment and reemployment rights to members of the uniformed services, including veterans and members of the Reserve and National Guard." (Ballard Spahr Andrews & Ingersoll, LLP)

Feds Concerned About Problems with Plan Audits: Hiring Right Plan Auditor Crucial to Avoid Trouble
Excerpt: "Pick your plan auditor carefully. The US Department of Labor is watching for slip-ups. Federal officials have made it clear that they are looking more closely at the quality of plan audits. A Department of Labor study found many auditing problems, and a DoL official was quoted in December saying that the agency plans to inspect the quality of audits. .... Generally, a plan must be audited if it has at least 100 participants." (PLANSPONSOR.com; one-time registration required)


Newly Posted Events

Executive Compensation - Strategy, Design, and Implementation
in New York on June 23, 2005
presented by ALI-ABA (American Law Institute-American Bar Association)

Form 5500 Workshop
in Missouri on April 28, 2005
presented by SunGard Corbel

Form 5500 Workshop
in North Carolina on April 28, 2005
presented by SunGard Corbel

Form 5500 Workshop
in California on April 28, 2005
presented by SunGard Corbel

Form 5500 Workshop
in Washington on May 3, 2005
presented by SunGard Corbel

Form 5500 Workshop
in New Mexico on May 5, 2005
presented by SunGard Corbel

Form 5500 Workshop
in Pennsylvania on May 5, 2005
presented by SunGard Corbel

Form 5500 Workshop
in California on May 5, 2005
presented by SunGard Corbel

Form 5500 Workshop
in Texas on May 12, 2005
presented by SunGard Corbel

Form 5500 Workshop
in Minnesota on May 12, 2005
presented by SunGard Corbel

Form 5500 Workshop
in Nebraska on May 12, 2005
presented by SunGard Corbel

Form 5500 Workshop
in Georgia on May 12, 2005
presented by SunGard Corbel

Form 5500 Workshop
in Colorado on May 12, 2005
presented by SunGard Corbel

Form 5500 Workshop
in Indiana on May 18, 2005
presented by SunGard Corbel

Form 5500 Workshop
in Kansas on May 18, 2005
presented by SunGard Corbel

Form 5500 Workshop
in Washington on May 18, 2005
presented by SunGard Corbel

Form 5500 Workshop
in New York on May 19, 2005
presented by SunGard Corbel

Form 5500 Workshop
in Texas on May 19, 2005
presented by SunGard Corbel

Form 5500 Workshop
in Ohio on May 25, 2005
presented by SunGard Corbel

Form 5500 Workshop
in Iowa on May 25, 2005
presented by SunGard Corbel

Understanding the Basics of Deferred Compensation
Nationwide on March 22, 2005
presented by Retirement Capital Group


Newly Posted Press Releases

Statement of U.S. Secretary of Labor Elaine L. Chao On Passage of Association Health Plan Legislation in House of Representatives
(U.S. Department of Labor, Employee Benefits Security Administration (EBSA))

Council Congratulates Pension Reformer Portman On Today’s Trade Representative Nomination
(American Benefits Council)

National Business Group on Health Announces Winners of its President's Awards for Excellence in Health Care Benefits
(National Business Group on Health)

More Employers Adopting Health Management, Consumer-Directed Health Plans to Control Costs
(National Business Group on Health)

Pittsburgh Business Group on Health Announces Health Care Benefits and Cost Management Program
(Pittsburgh Business Group on Health)

401(k) Advisor Support Platform Adds PlanTools
(Professional Capital Services, LLC)


Newly Posted or Renewed Job Openings
Post a Help Wanted Ad

Manager of U.S. Compensation and Benefits
for 2 Billion + NYSE Leading International – Heavy Industrial Manufacturing Firm
in IL

Health Management Design Consultant
for Hewitt Associates
in CT

Retirement Plan Administrative Associate
for CPA Consulting Firm in Richardson, Texas
in TX

Pensions/401(k) ERISA Compliance Specialists
for Parker White Consultants, Inc. in Northern New Jersey
in NJ

Health & Welfare Benefits Analyst
for PRECEPT
in CA

Retirement Associate
for Towers Perrin
in PA

HM Pharmacist Consultant
for Hewitt Associates
in IL

HM Pharmacist Consultant
for Hewitt Associates
in CA




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