| BenefitsLink Retirement Plans Newsletter |   |
December 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) |
In Final Hours, the NYC Metropolitan Transportation Authority Took a Big Risk on Pensions
Excerpt: "[J]ust hours before the strike deadline, the authority's chairman, Peter S. Kalikow, put forward a surprise demand that stunned the union. Seeking to rein in the authority's soaring pension costs, he asked that all new transit workers contribute 6 percent of their wages toward their pensions, up from the 2 percent that current workers pay. The union balked, and then shut down the nation's largest transit system for the first time in a quarter-century." (The New York Times; one-time registration required)
Major United Kingdom Company to Close Pension Plan to Active Members
Excerpt: "Rentokil Initial P.L.C. has announced plans to phase out its defined benefit pension plan to active employees in a bid to cut costs, the first such proposal by a major company in the United Kingdom. While many U.K. companies have closed defined benefit plans to new hires, the move would make Rentokil the first FTSE100 company to stop future benefit accruals for current employees." (Business Insurance)
Colorado PERA Issues Funding and Benefits Reform Proposal
Excerpt: "The state of Colorado's public pension plan has released a sweeping reform package that cuts benefits for future workers and seeks a small extra shot of taxpayer funding to help pay for current benefits." (PLANSPONSOR.com; one-time registration required)
Ecuador: Legislation Allows Workers to Withdraw Pension Reserve Funds
Excerpt: "In an effort to reduce a poverty rate estimated at 60 percent, employees in Ecuador will be able to withdraw savings from their retirement accounts, taking an anticipated US$734 million from the funds." (Watson Wyatt Worldwide)
Netherlands: Current Issues in Retirement Provision
Excerpt: "The November edition of Brans Brief, [Watson Wyatt's] regular update on current issues in pensions, life insurance and human capital developments in the Netherlands contains articles on a number of issues that may affect multinationals with Dutch operations." (Watson Wyatt Worldwide)
Swiss Government Mulls Raising Retirement Age for Women to 65
Excerpt: "Raising the retirement age for women by one year to 65 will help save 341 million Swiss francs ($261 million) annually between 2009 and 2020, the Interior Ministry said in a handed- out statement in the capital Bern today." (Bloomberg News)
Links to Items on Executive Comp, Benefits in General
Highlights of Final USERRA Regulations (PDF)
3 pages. Excerpt: "Makes clear that USERRA covers multiemployer plans maintained pursuant to one or more collectively bargained agreements, group health plans that are subject to ERISA and group health plans, such as plans maintained by state or local governments, that are not covered by ERISA." (Benefits Group of Davis & Harman LLP via American Benefits Council)
Overview: DOL Final Regulations Interpreting USERRA (PDF)
6 pages. Excerpt: "On December 19, 2005, the U.S. Department of Labor (DOL) published final regulations interpreting the Uniformed Services Employment and Reemployment Rights Act (USERRA), 38 U.S.C. §§ 4301 etseq. At the same time, DOL also issued final regulations requiring employers to provide employees with notice of their rights and obligations under USERRA and published a final version of the posteremployers may use to comply with the notice requirement." (Morgan, Lewis & Bockius LLP)
Welcome to new BenefitsLink advertiser CalSurance
Excerpt: "Errors & Omissions Liability program specifically designed for the Benefit Administrators and Consultants underwritten by A rated admitted carrier. Dedicated, experienced staff providing superior service standards." (BenefitsLink.com)
Newly Posted Events
Web/Telephone Seminar: Advanced Distribution Issues and Plan Loans
Nationwide on January 26, 2006
presented by BISYS Retirement Services
Web/Telephone Seminar: Advanced HSAs
Nationwide on January 26, 2005
presented by BISYS Retirement Services
Web/Telephone Seminar: Advanced HSAs
Nationwide on January 26, 2006
presented by BISYS Retirement Services
Web/Telephone Seminar: Basic IRAs
Nationwide on January 24, 2006
presented by BISYS Retirement Services
Web/Telephone Seminar: Introduction to Health Savings Accounts (HSAs)
Nationwide on January 19, 2006
presented by BISYS Retirement Services
Web/Telephone Seminar: Introduction to Qualified Retirement Plan Distributions
Nationwide on January 19, 2006
presented by BISYS Retirement Services
Web/Telephone Seminar: IRA Reporting
Nationwide on January 11, 2006
presented by BISYS Retirement Services
Newly Posted Press Releases
9.4 Percent Of Pension Plans Frozen, PBGC Study Says
(Pension Benefit Guaranty Corporation (PBGC))
The Principal Financial Group Receives SAS 70 Industry Certification for Nonqualified Deferred Compensation Plan Administrative Services
(Principal Financial Group)
CPI Adds AIG VALIC Guaranteed Fixed-Interest Option To Retirement Plan Platform
(CPI Qualified Plan Consultants, Inc.)
Board of Trustees of the FELRA & UFCW Health and Welfare Fund Selects Health Dialog to Provide Care Management Services
(Health Dialog)
Newly Posted or Renewed Job Openings
Manager, Retirement Plans
for AutoNation, Inc
in FL
Senior Health And Welfare Specialist
for Stanford Hospital and Clinics/Lucile Packard Children's Hospital
in CA
Compliance Associate
for RSM McGladrey
in MN
Account Manager
for CitiStreet
in NJ
Account Executive
for Transamerica
in CA
Non Executive Benefits Consultant II
for Buck Consultants
in GA
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.
Published by:
BenefitsLink.com, Inc.
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Editor and Publisher: David Rhett Baker, J.D.
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