| BenefitsLink Retirement Plans Newsletter |   |
March 25, 2005
Today's sponsor: APSCREEN, Employee Locator
(Click on company name or banner to learn more.)
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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)
Employers Need to Light Matches Under 401(k)-Wary Workers Before It's too Late (PDF)
Excerpt: "When it comes to 401(k)s, employees don't seem to want to make many decisions, including whether to enroll or raise their contributions. Baby boomers have been some of the worst offenders, yet can least afford to ignore their retirement plans. In fact, a recent study by Guardian Life Insurance Co. found that, while 80 percent of boomers are concerned about having enough income during retirement, exactly half say they aren't sure how much money they will need." (WorkIndex.com via Human Resource Executive)
Analysis: The Administration's Single-Employer Pension Funding Proposal (PDF)
9 pages. Excerpt: "At one time policy favored DB plans because (1) they were more likely to provide a lifetime income and (2) they cover almost all employees. With lower tax rates for capital gains and stock dividends, the equilibrium for deciding whether to sponsor a DB or DC plan ..., versus just providing cash to employees, has been greatly harmed. We recommend that Congress return its historic tax advantage to retirement plans by taxing pension distributions at the same rates." (American Academy of Actuaries)
Uncharted Waters: Paying Benefits from Individual Accounts in Federal Retirement Policy
Excerpt: "The National Academy of Social Insurance (NASI) released the findings of a study panel supported by the TIAA-CREF Institute that examined some of the payout issues that might arise from implementing a system of individual accounts, if such accounts were to become a part of federal retirement policy. [To receive the full report in PDF by e-mail, click on the 'Request Publication' button on the target page and fill in the request form. You will receive the document in a few minutes.]" (National Academy of Social Insurance)
Summary: Social Security Trust Funds -- The 2005 Projections
Excerpt: "Projections of the short-term and long-term financial status of the Social Security program from the Trustees' 2005 report are summarized in this AARP Public Policy Institute Data Digest ...." (AARP)
Republicans Consider Slowing Social Security Benefits Growth for Most with Progressive Indexation
Excerpt: "Can 'progressive indexation' help sell President Bush's plan to overhaul Social Security? Though he has been loath to propose specific measures to reduce future benefits, Mr. Bush and other officials are gingerly promoting the idea as a way to cut costs and still protect low-income retirees." (The New York Times; one-time registration required)
Social Security Trustees' Projections: Analysis, Highlights of the 2005 Report & Links to Sections
Excerpt: "It is important to remember that the trustees' projections are based on a complex series of assumptions about what the U.S. population and economy will look like decades down the road. Needless to say, predicting the future is nearly impossible, and our assumptions become less reliable as we project further from the present. While these estimates represent our best guess about how future conditions will affect Social Security, they are inherently uncertain." (The Century Foundation)
Just the Facts: Social Security's Financial Outlook: The 2005 Update and a Look Back (PDF)
Excerpt: "The Trustees of the Social Security system have just issued the 2005 Report. The projections used in this Report are prepared by Social Security's Office of the Actuary. The Report projects the system's financial outlook under three sets of cost assumptions – high, low and intermediate. This Just the Facts focuses on the intermediate assumptions and puts this year's numbers in perspective." (Center for Retirement Research at Boston College)
Public Misperceptions about Retirement Security
38 pages. Excerpt: "This paper identifies and discusses 10 ways in which Americans lack a realistic understanding of retirement saving. Under the most common patterns of employee benefits being offered today, workers need to accumulate substantial savings before retirement and then gradually draw down those savings after retirement. Therefore, personal knowledge and choices in planning for retirement will be much more important in the future." (LIMRA International, Inc., the Society of Actuaries, and Mathew Greenwald & Associates)
Taiwan Labor Pension Act: Survey of How Employers Are Gearing Up and Enforcement Rules Overview (PDF)
4 pages. Excerpt: "Six months after passing the Labor Pension Act (LPA) into law, the Executive Yuan of Taiwan ratified the Enforcement Rules under the LPA (the Rules) on December 28, 2004. The Rules set out details of various administrative requirements such as enrollment, record keeping, contributions, annuity insurance and fund transfers." (Watson Wyatt Worldwide)
Links to Items on Executive Comp, Benefits in General
FASB to Clarify Intent of FAS 123 (R) as relates to EITF 00-19
Excerpt: "At its board meeting on March 23rd, the Financial Account Standards Board (FASB) board voted to issue a proposed FASB Staff Position (FSP), tentatively titled Proposed FSP EITF 00-19-a, 'Application of EITF Issue No. 00-19, 'Accounting for Derivative Financial Instruments Indexed to, and Potentially Settled in, a Company's Own Stock' to Freestanding Financial Instruments Originally Issued as Employee Compensation'." (Financial Executives International)
Compensation and Employment Policies for Higher Education (PDF)
15 pages. Excerpt: "This paper examines existing human resources policies and considers potential modifications designed to help institutions to strategically recruit, retain, and retire faculty. Consideration is given to health insurance for active and retired faculty, and phased retirement plans and early retirement programs." (TIAA-CREF Institute)
Newly Posted Events
401(k) Plans
in Georgia on May 24, 2005
presented by Employee Benefits Institute of America Inc. (EBIA)
401(k) Plans
in California on June 7, 2005
presented by Employee Benefits Institute of America Inc. (EBIA)
Cafeteria Plans
in Georgia on May 25, 2005
presented by Employee Benefits Institute of America Inc. (EBIA)
Cafeteria Plans
in California on June 8, 2005
presented by Employee Benefits Institute of America Inc. (EBIA)
COBRA Compliance for Group Health Plans
in Georgia on May 27, 2005
presented by Employee Benefits Institute of America Inc. (EBIA)
COBRA Compliance for Group Health Plans
in California on June 10, 2005
presented by Employee Benefits Institute of America Inc. (EBIA)
ERISA Compliance for Health & Welfare Plans
in Georgia on May 26, 2005
presented by Employee Benefits Institute of America Inc. (EBIA)
ERISA Compliance for Health & Welfare Plans
in California on June 9, 2005
presented by Employee Benefits Institute of America Inc. (EBIA)
HIPAA Portability, Privacy & Security
in Georgia on May 27, 2005
presented by Employee Benefits Institute of America Inc. (EBIA)
HIPAA Portability, Privacy & Security
in California on June 10, 2005
presented by Employee Benefits Institute of America Inc. (EBIA)
HSAs, HRAs, & Consumer-Driven Health Care
in Georgia on May 26, 2005
presented by Employee Benefits Institute of America Inc. (EBIA)
HSAs, HRAs, & Consumer-Driven Health Care
in California on June 9, 2005
presented by Employee Benefits Institute of America Inc. (EBIA)
Orphan Plans - New Approaches from the Firehouse Steps
Nationwide on April 26, 2005
presented by SunGard Corbel
Sexual Harassment? 401(k) Headaches? Payroll Tax Problems?
in District of Columbia on April 5, 2005
presented by Swidler Berlin LLP
Sexual Harassment? 401(k) Headaches? Payroll Tax Problems? -- A Compliance Seminar for HR Professionals
in District of Columbia on April 5, 2005
presented by Swidler Berlin LLP
Newly Posted or Renewed Job Openings
Pension Consultants/Administrators
for Northern NJ Mid-Size Pension Consulting Firm
in NJ
Communications Specialist
for Ingersoll-Rand
in NC
Advisor Relations Center Specialist
for Merrill Lynch
in NJ
Strategic Pension Sr. Consultant
for Merrill Lynch
in NJ
Defined Contribution Product (ML11) Director
for Merrill Lynch
in NJ
Product Initiative Manager
for Merrill Lynch
in NJ
Benefits Representative
for Actuant Corporation
in WI
Assistant Administrator (Full-time)
for CCPOA Benefit Trust Fund
in CA
Client Service Manager
for Fidelity Investments
in KY
Health & Welfare Consultant
for Towers Perrin
in CA, CT, DC, IL, MI, MN, NJ, NY, OH, PA, TX
Client Relationship Manager
for Union Central
in CA, NC, NY, TN
Benefits/Retirement Manager: Benefits Accounting, Financial Risk and Qualified Plan Administration
for SunTrust Banks, Inc.
in GA
Pension Administrator
for Ed Ferguson & Associates, Inc.
in IN
Assistant Director of Administration
for MidAmerica Administrative & Retirement Solutions, Inc.
in FL
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