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June 29, 2005
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Text of Joint Committee Report: Present Law And Background Relating To Multiemployer DB Plans (PDF)
47 pages. (U.S. Congress Joint Committee on Taxation)

Hearing on Funding Rules for Multiemployer Defined Benefit Plans in H.R. 2830
Links to witness list and testimony at 6/28/2005 hearing; the 'Pension Protection Act of 2005." (U.S. House Committee on Ways And Means, Subcommittee on Select Revenue Measures)

House Republicans Tackle Portable Pensions in Bill
Excerpt: "Two key House Republicans have agreed on language that they hope will clarify the status of cash balance plans, and it will be part of a pension reform bill scheduled to be voted on Wednesday by the House Education and Workforce Committee ..." (Reuters via New York Times; free one-time subscription required)

Boehner Outlines His Pension Overhaul Bill
Excerpt: "House Education and the Workforce Committee Chairman John Boehner (R-Ohio) gave a detailed preview yesterday of what to expect as his pension overhaul bill is marked up and folded into a larger retirement bill from the Ways and Means Committee." (The Hill)

Fidelity Deal Might Spell End of Boehner Bill
Excerpt: "Fidelity investments' recent deal with Ibbotson Associates may be a sign that legislation allowing 401(k) plan providers to offer investment advice directly to employees is dead." (Workforce)

Segal Advisors' Response to the SEC's Report on the Pension Consulting Industry (PDF)
2 pages. Provides responses the 10 questions the SEC suggested that pension plan sponsors ask their consultants. (Segal Advisors)

Deemed IRAs After Proposed IRA Regulations (PDF)
14 pages. Excerpt: "Deemed IRAs face an uphill battle in gaining acceptance by employers and employees alike. Proposed Regulations regarding these elusive IRAs offer clarification and guidance, however ..." (Michael A. Hart of Kirkpatrick & Lockhart Nicholson Graham LLP)

Wary of Stocks? Real Estate Is Option for IRA Investors
Excerpt: "An estimated 2 percent of I.R.A. money is now invested in real estate in one form or another - through self-directed accounts held by a custodian and managed by the accountholder - twice the percentage of two years ago, according to industry experts" (New York Times; free one-time subscription required)

Summary of Proposed 'GROW' Accounts (PDF)
2 pages. Excerpt: "The Social Security surplus will be dedicated to individual GROW Accounts, where it will be invested in guaranteed, marketable Treasury securities-- real assets that workers own." (U.S. House Committee on Ways And Means, Subcommittee on Social Security)

Summary of The Growing Real Ownership for Workers Act of 2005 (PDF)
2 pages. Excerpt: "Personal accounts, called 'GROW' accounts, would be established for all workers under the age of 55, unless they choose not to have an account." (U.S. House Committee on Ways And Means, Subcommittee on Social Security)

2004 Median Investment Performance for Multiemployer Pension Plans Exceeded Benchmarks (PDF)
2 pages. (Segal Advisors)

Links to Items on Executive Comp, Benefits in General

FASB Staff Position: Freestanding Financial Instruments Originally Issued as Employee Compensation (PDF)
3 pages. Excerpt: "The Board directed the FASB staff ... to defer at this time the requirement of FASB Statement No. 123 ... Share-Based Payment, that a freestanding financial instrument originally subject to Statement 123(R) becomes subject to the recognition and measurement requirements of other applicable generally accepted accounting principles (GAAP) when the rights conveyed by the instrument to the holder are no longer dependent on the holder being an employee of the entity." (Financial Accounting Standards Board)

Bad Boys (and Girls) Get Clawed Back by Deferred Comp Legislation (PDF)
15 pages. Excerpt: "Whether Senator Shumer knew it or not, he was legislating a 'bad boy' provision with a 'clawback' [into section 304 of the Sarbanes-Oxley Act of 2002]." (Richard E. Wood of Kirkpatrick & Lockhart Nicholson Graham LLP)

Develop a Deferred Compensation Action Plan
Excerpt: "Accordingly, employers have six months or less left in 2005 [to] identify all their deferred compensation plans subject to section 409A [and] to review these plans for changes required [by year-end] to comply with section 409A ..." (Dorsey & Whitney LLP)

Washington Post Reporters Discuss 2004 Executive Compensation Survey
Excerpt: "Post reporters David Hilzenrath and Terence O'Hara were online to discuss The Post's survey of executive compensation at Washington-area companies." (Washington Post)

2004 Executive Compensation Report
Excerpt: "The executive suite at many companies remains a charmed place in which boards not only reward executives with rich salaries and bonuses but also help them with such routine expenses as commuting to work and preparing their taxes." (Washington Post)

EBSA Advisory Opinion 2005-17A
Dated June 22, 2005. Excerpt: "This responds to your request for an advisory opinion on behalf of the Massachusetts Public Employees Fund ... [Y]ou ask whether participation by five employees of the Fund would adversely affect the Fund's status as a 'governmental plan' within the meaning of section 3(32) of ERISA." (Employee Benefits Security Administration, U.S. Department of Labor)

Newly Posted Events

Annual "Washington Update" Program
in Massachusetts on September 30, 2005
presented by New England Employee Benefits Council

Newly Posted Press Releases

Workers: Health Insurance Most Important Benefit
(Employee Benefit Research Institute (EBRI))

2005 Summer Retirement Professionals Buyers Guide Mailing Date Announced
(Metrics Partners)

2005 412i Summit- Exhibitors and Sponsorships Sold Out!
(412i Company)

Newly Posted or Renewed Job Openings
Post a Help Wanted Ad

401(k) Client Relationship Manager
for The Douglas Group
in CA, CO, NJ, NY, PA

401(k) Enroller/Contractor
for Transamerica
in ANY STATE

Pension Administrator
for R.J.L. Pension Services, Inc.
in FL

Senior Benefits Analyst
for Tenet Healthcare
in TX

Sr Pension Analyst
for T Rowe Price
in MD



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