| BenefitsLink Retirement Plans Newsletter |   |
November 8, 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) |
Financial Advisors, Trolling for 401(k) Treasure, Can Look to Congress
Excerpt: "Sometime early next year, or perhaps even by year-end, Congress is expected to enact new pension legislation that would make it easier for financial advisors to work with participants in company retirement programs. That advisory relationship, say reps who have worked the 401(k) circuit under today's rules, can lead to IRA rollovers, referrals and the capture of boomer assets." (Registered Rep)
IRS Weighted Average Interest Rate Table Updated for November 2005
Weighted average for November 2005: 4.88% (U.S. Internal Revenue Service)
IRS Composite Corporate Bond Rate Table Updated for November 2005
Corporate Bond Weighted Average Interest Rate = 5.79 for November 2005 (U.S. Internal Revenue Service)
A Pension Rule, Sometimes Murky, Is Under Pressure
Excerpt: "This week, the Financial Accounting Standards Board, which writes the accounting rules for American business, will decide whether to go ahead with plans to change the way pension accounting is done. The board's current rule is 20 years old and has drawn fire from retirees and investors ...." (The New York Times; one-time registration required)
IMHO: 'Broken' Record
Excerpt: "By now you have perhaps read-- or at least been told about-- the recent cover story in Time magazine titled 'The Broken Promise.' The promise-- one of retirement benefits and health coverage-- has been broken by employers, with the complicity of government, according to the story's authors...It isn't just workers who have had 'promises' reneged on, of course. " ((PLANSPONSOR.com: one-time registration required))
Overview: Tax Reform Proposals and ESOPs (PDF)
3 pages. Excerpt: "It is noteworthy that, although the tax incentives for ESOPs would appear to be eliminated under the proposals, the panel expressed no criticism of ESOPs or of employee ownership in its report. The panel's apparent proposal to eliminate the ESOP tax incentives appears to be a byproduct of its overriding objectives to simplify the tax code and eliminate the AMT, while maintaining revenue neutrality." (Morgan, Lewis & Bockius LLP)
PODCAST: The Fiduciary Responsibility for a Successful Plan
Excerpt: "Fred Reish discusses basic fiduciary duties and legal responsibilities such as providing benefits to participants and beneficiaries, and elaborates on important growing concerns relevant to providing suitable retirement benefits, and monitoring true plan success." (Ameriprise Retirement Services)
Recruitment, Retention, and Retirement in Higher Education - Building the Faculty of the Future
Excerpt: "This volume, which is based on the TIAA-CREF Institute 2004 Conference, is the first of a series that will address timely issues of strategic importance to higher education. Attracting and retaining highly qualified faculty is essential for colleges and universities to remain competitive in an increasingly demanding marketplace. .... This volume examines some of the most pressing employment and compensation issues confronting academic administrators." (TIAA-CREF Institute)
Fiduciary Duty As Redefined Allows Environmental, Social and Governance Considerations
Excerpt: "A report commissioned by UNEP FI and prepared by Freshfields attorneys dispels the persistent myth that laws prevent fiduciaries from considering environmental, social, and governance issues." (SocialFunds.com)
Institutional Investors Enjoy Double Digit One-Year Performance
Excerpt: "The one-year performance for public and corporate pension funds were 13.63% and 13.73% respectively, according to the Trust Universe Comparison Service (TUCS). Wilshire Analytics, the investment technology unit of Wilshire Associates, reported the median performance of public pension funds was up 3.89% in the third quarter while corporate pensions gained slightly less at 3.74%. TUCS includes approximately 300 plan participants representing approximately $2 trillion in assets." (PLANSPONSOR.com: one-time registration required)
Links to Items on Executive Comp, Benefits in General
Surviving Spouse Rights Supercede Named Beneficiaries
Excerpt: "The US District Court for the Southern District of Texas has ruled that the surviving spouse of a participant is entitled to the participant's benefits though the participant's ex-wife and sons were originally named as beneficiaries." (PLANSPONSOR.com: one-time registration required)
Court Approves Colorado Firm's COLI Purchases
Excerpt: "A Minnesota federal judge has blessed a move by a Colorado utility company to carry corporate-owned life insurance (COLI) policies on almost 2,500 employees. US District Judge Donovan Frank of the District Court for the District of Minnesota asserted that the corporation has an insurable interest in the life of those employees and, therefore, can be the named beneficiary on the policies." (PLANSPONSOR.com: one-time registration required)
Hay Benefits Reference Guide, October 2005, Limits & Other Numbers Affecting Retirement Plans (PDF)
3 pages. Excerpt: "Plan administrators must concern themselves with a broad array of annual limits that affect participants' retirement benefits. This Hay Benefits Reference Guide consolidates these limits to give plan administrators quick access to this information, including: ...; Current and historical data for a broad range of maximum annual limits applicable to retirement plans; and, Social Security covered compensation tables." (Hay Group; one-time registration required)
Comments on Tax Reform Panel Report
Excerpt: "The president's tax reform panel did what advisory commissions are supposed to do: Think big and offer bold ideas that force a new conversation over policy changes. And they did just that regarding health insurance." (Galen Institute)
Plan with No Employees Not Governed by ERISA
Excerpt: "The US District Court for the Northern District of Illinois has ruled that a pension plan that covered only the owner of the firm that sponsored it is not governed by the Employee Retirement Income Security Act (ERISA)." (PLANSPONSOR.com: one-time registration required)
Newly Posted Events
Tackling Benefit Issues From a Total Rewards Perspective
in Pennsylvania on November 16, 2005
presented by Central Pennsylvania Chapter - ISCEBS
Benefits Chicago
presented by Employee Benefit News
Benefits Philadelphia
presented by Employee Benefit News
Newly Posted Press Releases
Spencer Survey Finds That Salaries For Benefits Managers Averaged $83,743
(Spencer Benefits Reports)
SHPS Deploys Fair Isaac Blaze Advisor to Revolutionize Healthcare Spending Accounts Through Automated Business Rules Decisions
(SHPS)
Newly Posted or Renewed Job Openings
Health & Welfare Associate
for Towers Perrin
in CA
Senior 401(k) Administrator -Great Workplace & Team!
for The Pension Group, Inc.
in CA
Retirement Plan Sales Consultant
for Invesmart, Inc.
in WA
Assistant Vice President/Chief Operating Officer
for MassMutual Financial Group
in MA
Defined Benefit Pension Administrator
for RSM McGladrey Inc.
in AZ
Health and Welfare Communication Analyst - Temp. to Perm.
for Constantin Control Associates
in NJ
Professional Plan Administrator
for Qualified Plan Services
in OR
Testing & Reporting Analyst
Fidelity Investments
in MA
Director - Pension Consulting Services
for RSM McGladrey Inc.
in AZ
Retirement Plan Specialist
American Funds
in VA
Employee Benefits Tax Manager
for Deloitte Tax LLP
in PA
Testing & Reporting Consultant
for Fidelity Investments
in TX
Employee Benefits Tax Associate (Staff)
for Deloitte Tax LLP
in MI, OH
Employee Benefits Tax Senior
for Deloitte Tax LLP
in OH, PA
Retirement Plan Consultant
forIndependent Benefit Services
in MD https://employeebenefitsjobs.com/job/H44437
Annual Plan Reporting Services Manager - PA
for Vanguard
in PA https://employeebenefitsjobs.com/job/H43810
Annual Plan Reporting Administrator
for The Vanguard Group
in PA https://employeebenefitsjobs.com/job/H42010
Pension Administrator
for Retirement Planners
in VA
Pension Analyst/Administrator
for Snyder Cohn
in MD
Pension Assistant
for Preferred Pension Planning Corporation
in NJ
Retirement Planning Producer
for ALCOS
in MI
401(k) Plan Administrator
for Third Party Administration Firm
in NY
Pension Administrator
for G.M. Pensions, Inc.
in CA
Product Development
for John Mulligan & Associates
in NY
Handy Links:
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- 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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