| BenefitsLink Retirement Plans Newsletter |   |
October 21, 2005
Today's sponsor: DATAIR Employee Benefit Systems, Inc.
(Click on company name or banner to learn more.)
| Software for DC/401(k) Plan Administration |
| DATAIR's IMPROVED BENEFIT ADMINISTRATION SOFTWARE for 401(k), Profit Sharing and all other Defined Contribution plans. Designed for administrators and consultants.
This Windows system features many important enhancements including flexible input for employee data, share and dollar accounting; redesigned easy-to-read report formats, a transaction database for time-weighting of allocations; electronic anniversary notification and data collection; and unlimited investment and source definitions. The system also allows for great flexibility in setting up graded class allocation (cross-tested new comparability) plans. Training and support included. For free demo versions and pricing, contact sales@datair.com or call 1-888-328-2474. |
| (Please visit our sponsors. We try to make sure their products and services will be of interest to you. Thanks! --Editor) |
Example of Model Communication to 401(k) Plan Sponsors Regarding Hurricane Katrina Relief
The model letter outlines Hurricane Katrina Relief for 401(k) Plan Sponsors and Participants. (The Spark Institute)
Discussion of the 106 Public Employee Retirement Systems in Massachusetts
Excerpt: "The agency that regulates the state's pension systems, the Public Employee Retirement Administration Commission, is nearing the end of a long process looking at the workings of the system. A committee, headed by former attorney general Scott Harshbarger, has made a series of solid recommendations involving governance and enforcement. But through it all no one asked the most basic question of all: What is Massachusetts doing with 106 retirement systems anyway?" (The Boston Globe)
Oops! Scriveners' Errors: What Should Be Done with Them?
Excerpt: "What is a 'scrivener's error?' For our purposes, a scrivener's error is an unintentional mistake in the drafting of the plan. In light of the IRS's current position - essentially, that there are no such things as scriveners' errors - the resolution of this dilemma can be very tricky and sometimes costly." (Chang Ruthenberg and Long PC)
Women at Greater Risk than Men to Experience a Decrease in Living Standards After Retirement
Excerpt: "The report, 'The Female Factor: Why Women Face Greater Retirement Risk and What Can Be Done To Help Beyond Employer-Based Retirement Programs' suggests that women should be encouraged more to save and plan for retirement. It promotes the current legislation pending in Congress encouraging lifetime annuities as a guaranteed source of income in retirement ...." (PLANSPONSOR.com: one-time registration required)
Links to Items on Executive Comp, Benefits in General
White-Collar Retirees See Need to Organize
Excerpt: "Auto industry retiree clubs are joining white-collar retirees from other downsized American industries. The NRLN, which was founded in 1999, coordinates the lobbying of 25 worker associations that together have 2 million members. It includes groups of workers from old telephone companies including U.S. West, former aerospace engineers from Boeing, and retirees from life insurance companies such as Aetna and Prudential." (The Washington Post; one-time registration required)
Summary of Presidential Tax Panel's Suggested Reforms
Excerpt: "From a CNN article--'Tax reform panel offers two proposals'----a summary of some of the Tax Reform Panel's key recommendations for reforming the tax code (benefits-related recommendations are bolded): ...." (Attorney B. Janell Grenier via BenefitsBlog.com)
IRS Disaster Relief Information Listing
Excerpt: "The Service has provided a variety of disaster relief measures for retirement plan sponsors including early distributions, leave donations, filing and funding relief and help from the IRS and Department of Labor." (U.S. Internal Revenue Service)
Hewitt Federal Legislation Quick Guide Updated as of October 18, 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)
Newly Posted Events
Benefits Chicago
in Illinois on November 15, 2005
presented by Employee Benefit News
Newly Posted Press Releases
Vanguard Introduces Statement for 401(k) Plan Participants Featuring Interactive Retirement Income Estimating Tool
(Vanguard Group, The)
Nine Software Vendors Seek Certification For HEDIS 2006
(National Committee for Quality Assurance (NCQA))
Newly Posted or Renewed Job Openings
Conversion Specialist
for New York Life Investment Management LLC
in NJ
Training Consultant - Retirement Services
for MassMutual
in MA
Marketing Product Manager
for SunGard Relius
in FL
Defined Contribution Administrator
for Third Party Administration Firm
in IL
Benefits Specialist
for Virginia Tech
in VA
Benefits Manager
for Source Interlink Companies, Inc
in FL
Relationship Manager
for MassMutual
in GA
Health Consultant/Public Sector
for SEGAL, an employee benefits, compensation and human resources consulting firm
in CT
Handy Links:
- View Today's Active Message Threads
- Search BenefitsLink
- Using the Web for Employee Benefits Research (hypertext article)
- Employee Benefits Library
Copyright 2005 BenefitsLink.com, Inc.; except that you may reprint this newsletter in full (including this sentence) without obtaining our permission.
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Editor and Publisher: David Rhett Baker, J.D.
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