Retirement Plans
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May 31, 2006
Today's sponsor: ASPPA • Working for America's Retirement™

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Two Great ASPPA Conferences

You pick the focus and let ASPPA present the material.

Attend the new Advanced Actuarial Conference June 9-10 in Boston, MA. Targeting unique and specialized issues, this Conference is designed for practicing actuaries.

Attend the Northeast Area Benefits Conference in either Tarrytown, NY on June 7th or in Boston, MA on June 8th and get the most recent legislative and regulatory information available.

Better yet, attend them both! Sign up now at

(Please visit our sponsors. We try to make sure their products and services will be of interest to you. Thanks! --Editor)

'Retired' Boomers Shift Careers and Keep on Working
Excerpt: "Efforts are under way in Washington and corporate America to pave the way for phased retirement arrangements, given the unprecedented graying of the nation's workforce as 76 million boomers born between 1946 and 1964 march on. According to new Bureau of Labor Statistics projections, the number of people 55 and older in the U.S. workforce will grow 4.1 percent a year from now until 2014 - and that's four times the rate of growth of the overall labor force." (Scripps Howard News Service via Knoxville News Sentinel)

San Francisco Workers Strive to Stock 401(k)s with Socially Responsible Portfolios
Excerpt: "Social(k) now has 15 groups of funds, including three San Francisco-based funds: Parnassus Funds, Women's Equity Fund and Sierra Club Mutual Funds. Other funds include the Calvert Funds, Domini Social Investments based in New York, Portfolio 21 and Citizens Funds. Together, the 15 firms listed with Social(k) offer 60 individual funds." (

Opinion: Pension Legislation -- At Long Last!
Excerpt: "At least two years in the making, the HR 2830 bill, the Pension Protection Act of 2006, seems at long last poised to become law. It's the most comprehensive retirement security legislation in a generation." (Ceridian Connection)

S&P Warns Hospitals about Pension Funding Obligations
Excerpt: "A number of not-for-profit hospitals and health systems have not adequately funded their defined-benefit pension plans in recent years, and mounting obligations now represent a threat to their liquidity and credit ratings, Standard & Poor's said in a research report." (Modern Healthcare; one-time registration required)

Involuntary Terminations of Pension Plans under ERISA Are Non-core Matters (PDF)
3 pages. Excerpt: "A recent decision from the United Air Lines bankrup.tcy case addressed an important issue with respect to involuntary terminations of pension plans under the Employee Retirement Income Security Act of 1974 (ERISA)." (American Bankrup.tcy Institute Journal via Gardner Carton & Douglas LLP)

Cloudy Retirement Fate for Female Baby Boomers
Excerpt: "Female baby boomers could be worse off in retirement than their predecessors, as they spend more, acquire more debt and are less likely to have pensions, spousal benefits and retiree health coverage, warns a new study ( from The Harvard Generations Policy Program and the Global Generations Policy Institute." (BenefitNews Connect)

Opinion: Independent, Objective Pension Guidance Is at Stake in Pension Bill
Excerpt: "Congress has moved one step closer to passing a pension bill that would give investors greater access to 401(k) advice. What remains to be seen is which version of the bill - the House's or Senate's - will survive." (

Opinion: Personal Savings Problem Might Not Be as Bad as Reported
Excerpt: "Apparently, the nation's savings problem is even worse than we think. Not only are we not saving enough, we're spending more than we make. In fact, media coverage of the report noted that, in the course of 2005, Americans spent more than they earned for the first time since the Great Depression, conjuring up images of crumbling stock markets, soup lines and massive unemployment." (OnWallStreet Magazine)

Links to Items on Executive Comp, Benefits in General

Speech: The Business Case for Workers Age 50+: A Good Investment
The speech was given at the OECD Forum 2006 in Paris, France on May 22, 2006, by Thomas C. Nelson, Chief Operating Officer of AARP. (AARP)

Global Stock Plans: Greater Sensitivity to Local Conditions (PDF)
6 pages. Excerpt: "Simplistic, monolithic approaches, whereby multinationals simply export their home-country incentives, are not able to withstand many of today's challenges. However, by highlighting the ways in which major multinationals today are increasingly taking into account local conditions, in no way am I suggesting that all global consistency should be abandoned." (Benefits & Compensation International via Towers Perrin)

Obituary for Prominent Tax Attorney Sherwin P. Simmons
Excerpt: "SIMMONS, SHERWIN PALMER, prominent national tax lawyer who led the national tax bar for over 51 years in a variety of positions, passed away in Miami, after a long battle with Leukemia, on Wed., May 24, 2006, with his family by his side." (Miami Herald)

We thank and invite your attention to our additional sponsor: ASPPA • Working for America's Retirement™

(Click on company name or banner to learn more.)
Banner ad for ASPPA • Working for America's Retirement™

don't miss the 2006 Western Benefits Conference!

The famed Bellagio Hotel is the site of this year’s WBC, held July 16-19. Sponsored by the Western Pension & Benefits Conference and ASPPA, there are more than 50 educational sessions on retirement, health, welfare, fiduciary issues and more plus networking activities such as an exhibit hall, golf outing, Sunday reception and entertainment on Monday evening.

(Please visit our sponsors. We try to make sure their products and services will be of interest to you. Thanks! --Editor)

Newly Posted Events
(Post Yours!)

Code Section 409A Workshop
in Pennsylvania on July 19, 2006
presented by SunGard Corbel

Code Section 409A Workshop
in Massachusetts on July 20, 2006
presented by SunGard Corbel

Estate Planning Considerations for Qualified Plans and IRAs
in Pennsylvania on July 20, 2006
presented by SunGard Corbel

Estate Planning Considerations for Qualified Plans and IRAs
in Massachusetts on July 21, 2006
presented by SunGard Corbel

New! Fundamentals of 401(k) and Other Qualified Plans
in Colorado on July 26, 2006
presented by SunGard Corbel

Retirement, Deferred Compensation, and Welfare Plans of Tax-Exempt and Governmental Employers
in District of Columbia on September 7, 2006
presented by ALI-ABA (American Law Institute-American Bar Association)

Webcast On New Dependent Care Regulations - What Has Changed?
Nationwide on June 15, 2006
presented by

Newly Posted Press Releases
(Post Yours!)

Extension of SEC Deadline for 22-c2 Compliance Needed, According to SPARK Institute Survey of Record Keepers
(SPARK Institute)

Benefit Software Announces Fringe Facts® Communicator 7.1: Simplifies Customization of High-Impact Employee Benefits Statements For Small and Medium-Sized Businesses
(Benefit Software Inc.)

Newly Posted or Renewed Job Openings
Post a Help Wanted Ad

401(k) Account Manager
for BISYS Retirement Services
in PA

Compliance Manager - AZ
for Vanguard
in AZ

Client Integration Transition Manager
for Diversified Investment Advisors
in NY

401(k) / Defined Contribution Administrator
for Campbells Administration Inc.
in CA

Retirement Plan Manager
for Chemung Canal Trust Company
in NY

Benefits and Retirement Specialist
for Aerojet - Sacramento
in CA

Defined Benefit Consultant / Project Manager - Data Consulting
for Fidelity Investments
in MA, NC, NH

Defined Contribution Conversions Project Leader
for New York Life Investment Management LLC
in MA

Sr. Proposal Consultant
for Merrill Lynch
in NJ

Implementation Analyst Consultant
for Fidelity Investments
in NH

Marketing Manager - Retirement Plans Services
for Vanguard
in PA

Plan Consultant Opportunity
for Weaver Partners, Inc.

Pension Administrator
for AKT Retirement Plan Services LLC
in OR

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