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September 29, 2005
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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)
Update on the Pension Bill
Excerpt: "ERIC has confirmed that both the 180% deduction limit and the elimination of the 25% of compensation combined plan limit are included in the combined Finance-HELP committee bill even though these issues were not mentioned in the summary published by the committees." (The ERISA Industry Committee)

Text: Compromise Senate Pension Bill, the "Pension Security and Transparency Act of 2005" (PDF)
617 pages. Excerpt: "A bill ... to reform the pension funding rules ...." (U. S Senate via American Benefits Council)

Continental Airlines Says Giving Less-Fit Carriers a Break Is Unfair
Excerpt: "Continental Airlines has taken issue with a proposal that may allow competitors to push off payments to their underfunded pension plans for many years to come." (Houston Chronicle)

Tables and Charts: EBRI/ICI Participant-Directed Retirement Plan Data Collection Project for Year-End 2004 (PDF)
30 pages. Excerpt: "The September 2005 issue of Perspective covers the year-end 2004 data gathered by the Employee Benefit Research Institute ... and the Investment Company Institute ... in their collaborative effort -- the EBRI/ICI Participant-Directed Retirement Plan Data Collection Project. This Appendix provides supplementary tables and charts for the September 2005 Perspective (Holden and VanDerhei (September 2005))." (Investment Company Institute)

Assessing the Pros and Cons of the Roth 401(k)
Excerpt: "The Internal Revenue Service proposed regulations for the new plans in March and is still soliciting comments. But it may be worth spending some time considering the implications of the Roth 401(k) so that you are ready to go when regulations are final. This is very time sensitive since the entire EGTRRA is scheduled to end after 2010, unless Congress acts to extend it." (Investment Advisor)

Opinion: Roth 401(k) Offers the Best of Both Investment Worlds
Excerpt: "Investing for retirement is about to get more interesting, as new Roth 401(k) rules go into effect at the beginning of next year. These rules improve current 401(k) plans because they provide investors the opportunity to accumulate assets for retirement that can be withdrawn income tax-free." (Milwaukee Journal Sentinel; one-time registration required)

The 401(k): Is It Still a Great Way to Save Compared to the Roth IRA and Saving on Your Own
Excerpt: "To see how well the 401(k) works now, Consumer Reports Money Adviser asked Boston University economist Laurence Kotlikoff to run scenarios for families at different income levels and ages using ESPlanner, a financial-planning program he developed with Jagadeesh Gokhale, a Cato Institute economist ($149; www.esplanner.com)." (Consumer Reports)

Lawyer Says Pay Delta's Retired Pilots First
Excerpt: "Delta Air Lines Inc.'s retired pilots should be put ahead of other creditors as the bankrupt airline works out its debt problems, a lawyer for the retired pilots said Wednesday." (AP via South Bend Tribune)

Towers Perrin Quits San Diego Pension Work
Excerpt: "Troy Dahlberg, consultant for the city's audit committee, said the company's resignation stems from concerns over a series of new assignments that would pit its work against the work of other consultants. 'In Towers Perrin situation, there is a sensitivity about doing work against other professionals,' Dahlberg said, according to the newspaper. 'A lot of professionals have concerns about if they begin to do work where they think it can be used against other professionals.'" (PLANSPONSOR.com: one-time registration required)

Overview: Government Eases Katrina Victims' Access to Retirement Savings
Excerpt: "The federal government has alleviated the severe tax consequences of early retirement plan withdrawals for victims of Hurricane Katrina and removed roadblocks standing between them and use of retirement savings to help rebuild their lives. The action came in the form of legislation from Congress together with guidance from the Internal Revenue Service (IRS) and the U.S. Department of Labor (DOL)." (Society for Human Resource Management)

Denver Public Schools Merging Pensions into the Colorado Public Employees' Retirement Association
Excerpt: "The merger, years in the works, is back on again after failing in June 2004. The legal agreement must be signed by Saturday, with the Denver school board scheduled to meet today to discuss the deal. The merger is scheduled for Jan. 1, 2007." (Rocky Mountain News)

Retirement Plan Design and the Mobile Workforce
Excerpt: "This is the first of two companion articles on the effect of job switching on employer-provided retirement income benefits. The focus of this article is plan features that can affect the benefits of those who switch jobs. The second article, scheduled for publication in the October issue of Compensation and Working Conditions Online, looks at the options available to employees once they have made the decision to leave an employer that provides retirement income benefits." (U. S. Bureau of Labor Statistics)

Links to Items on Executive Comp, Benefits in General

Text: Proposed Regulations Under Code Section 409A for Nonqualified Deferred Compensation Plans (PDF)
238 pages. Excerpt: "In general, these regulations incorporate the guidance provided in Notice 2005-1 and provide substantial additional guidance." (Internal Revenue Service)

Civil Unions Creates Challenges for Connecticut Business
Excerpt: "Not only will life change for same-sex couples in Connecticut when civil unions become law Saturday, it will change for their employers. Businesses across Connecticut must answer questions about extending benefits including health insurance coverage, supplemental life insurance, family and medical leave, and pension benefits, to partners of g.ay employees." (AP via The Boston Globe)

Overview: DOL and IRS Offer COBRA, HIPAA, and Claims Relief for Katrina Victims (PDF)
4 pages. Excerpt: "The DOL and IRS have provided relief to employee benefit plans and to plan participants and beneficiaries affected by Hurricane Katrina by extending the time periods within which they must act under COBRA, HIPAA, and plan claims procedures." (Buck Consultants)

Newly Posted Events

15th Annual National Health Benefits Conference & Expo
in Florida on January 26, 2006
presented by Health Benefits Conference & Expo

Ask the Experts: Medicare Part D
Nationwide on October 6, 2005
presented by Kaiser Family Foundation

Getting Ready for FAS 123(R)
Nationwide on October 5, 2005
presented by Hay Group

Getting Ready for FAS 123(R)
Nationwide on October 19, 2005
presented by Hay Group

Getting Ready for FAS 123(R)
Nationwide on October 26, 2005
presented by Hay Group

Newly Posted Press Releases

Ceridian Observes Increased Interest in Commuter Benefit Programs; Often Overlooked as part of a Company's Benefit Portfolio, Survey Respondents Echo Importance
(Ceridian)

Deadlines for Taxpayers Affected by Hurricane Katrina Extended Until Feb. 28
(Internal Revenue Service (IRS))

As IRS Boosts Mileage Reimbursement Rate, HR.BLR.com Editors Remind Employers of Law's Requirements
(Business and Legal Reports, Inc.)

PlanTools And Envestnet Announce Alliance To Support Integrated Reporting Services For 401(k) Advisors & Service Pltforms
(McHenry Group, The)

Council Encouraged by District Judge's Reversal of AARP v. EEOC Retiree Health Decision
(American Benefits Council)

DATAIR Releases DC/Win - Scalable Administration Software for 401(k) and other Defined Contribution Plans
(DATAIR Employee Benefit Systems, Inc.)

Treasury And IRS Propose Regulations On Deferred Compensation
(U.S. Treasury Department and Internal Revenue Service)

CitiStreet Launches Direction-for-Life Campaign; Growth in Range of Services from Sign-Up into Retirement Leads to Broad Approach to Encourage Participation
(CitiStreet)

U.S. Labor Department Extends Annual Reports Deadline After Hurricane Rita Hits Louisiana, Texas; Deadline for Areas Affected by Hurricane Katrina Also Further Extended
(U.S. Department of Labor, Employee Benefits Security Administration)

Lincoln Independence(SM), a Lincoln Financial Group Retirement Product, is Now Available
(Delaware Investments)

Newly Posted or Renewed Job Openings
Post a Help Wanted Ad

Relationship Manager
for MassMutual Financial Group
in CT, MA

Plan Administrator
for Third Party Administration Firm
in FL

Associate (Executive Compensation and Benefits)
for Pillsbury Winthrop Shaw Pittman LLP
in CA

Manager, Employer Reporting
for CitiStreet
in NJ

VP of Marketing and Member Services
for TowerHunter Executive Search
in VA

Pension Administrator - PA
for Vanguard
in PA

Pension Analyst - PA
for Vanguard
in PA

Retirement/ Pension Plans Administrator
for The Atlantic Group
in AZ

External Wholesaler
for Transamerica-The Winning Organization
in CO, WA

Pension Administrator (Defined Benefit and/or Defined Contribution)
for Loren D. Stark Company, Inc. (LDSCO)
in TX

40lk/Pension Analyst
for BLB Consulting Inc (Search firm)
in NY



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