Retirement Plans
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June 2, 2006
Today's sponsor: InvestLink

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InvestLink offers the "Best of Breed" Software for Defined Contribution Recordkeeping, Administration and Trading

InvestLink offers "Best in Class" administration and record keeping software on an Application Services Platform (ASP) for 401(k), Profit Sharing and all other Defined Contribution plans. The product was designed by administrators for administrators. This ASP platform requires no hardware investment for clients. It provides secure, disaster recovery, web-based services all at one bundled price. Additionally, InvestLink converts your old data on to our new platform at NO cost to you, with NO installation for the standard platform. Training and support included in the bundled price. Also, if you are a distributor contact us and learn more about working with us to distribute your investment products. For a free demo and pricing, contact or call Tim Slavin-CEO at 1-888-507-LINK.

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

PBGC Explains Online Premium Filing Using 'My Plan Administration Account'
Excerpt: "Use PBGC's online application, My Plan Administration Account (My PAA), to electronically submit premium filings and payments to the PBGC. [The target page provides access to] information about My PAA, which includes checklists to help you get started, online 'demos' to see how My PAA works, and answers to frequently asked questions." (U.S. Pension Benefit Guaranty Corporation)

Comparison of ERIC's Position with DC Provisions of S.1783 and H.R.2830 (PDF)
11 pages. Excerpt: "Conference Position on Defined Contribution Provisions in the Pension Security & Transparency Act of 2005, and the Pension Protection Act of 2005" (The ERISA Industry Committee)

IRS Working to Finalize 415, 403(b), and Phased Retirement Regulations
Excerpt: "The IRS is working to finalize regulatory guidance on contribution and benefit limits under Code Sec. 415, tax-sheltered annuities under Code Sec. 403(b), and phased retirement arrangements, according to Martin L. Pippins, Manager of the IRS Employee Plans Technical Guidance and Quality Assurance Group." (CCH Pension & Benefits)

ABC Comment Letter to FASB Regarding Proposed Statement of Financial Accounting Standards (PDF)
14 pages. Excerpt: "Proposed Statement of Financial Accounting Standards: Employers' Defined Benefit Pension and Other Postretirement Plans" (American Benefits Council)

Intermediaries Seek Compromise on Redemption Rule Provision
Excerpt: "Retirement plan providers or brokerage firms that don't provide mutual fund companies with information on trades could be cut off from trading with the funds under an alternative proposal that the brokerage industry and plan providers are advocating." (

Opinion: Regarding Pension Underfunding, Retire the Number $450 Billion
Excerpt: "No, I still don't believe that $450 billion number. And the more I see, the more elusive I find that fiction. Ultimately, absolute truth on it might give us a whole new meaning to the term 'actuarial error.' But from what I can tell, $450 billion may be several multiples above even the high end of any reasonable range for the true level of current underfunding among PGBC-covered defined benefit pension plans." (Pensions & Benefits Weblog)

Judge Gives Nod to Delta's Settlement with Pilots Union
Excerpt: "A federal bankrup.tcy court judge rejected objections by the Pension Benefit Guaranty Corporation (PBGC) when he gave his blessing to a wage concession agreement between Delta Air Lines and its pilots." ( one-time registration required)

The Big Income Annuity Debate
Excerpt: "Income annuities are the polar opposite of their sometimes notorious cousins, variable annuities, which are used principally for their tax advantages during the accumulation period of saving. An income annuity is largely directed at the withdrawal or spending phase of retirement." (OnWallStreet Magazine)

Divorce, Pensions and Retirement Benefits Newsletter, June 2006
Excerpt: "Practice Tip of the Month -- How to avoid the embarrassment of negotiating a settlement using a domestic relations order when the plan provider refuses to recognize or comply with a domestic relations order?" (

Don't Shoot Me, I'm Only the Administrator -- First in a Series on ESOP Administration
Excerpt: "To begin with, we need to understand that employee stock ownership plan (ESOP) administration is a complex and often confusing process. There is no simple way to do it. There is no easy to use software package that will do it for you. Even if you employ an extremely knowledgeable service provider to take responsibility for your ESOP administrative services, you will still need to be knowledgeable about both general ESOP rules and the specifics of your particular ESOP, ...." (Leading Companies Online Magazine)

DOL Settles Improper ESOP Trade Allegations in California Company's Plan
Excerpt: "The trustees of an employee stock ownership plan (ESOP) sponsored by a Stockton, California company have agreed to a $1.4 million settlement of charges they made improper stock purchases with plan assets." ( one-time registration required)

Employee Ownership Update for June 1
NCEO Executive Director Corey Rosen discusses the options backdating controversy, including a new wrinkle involving 10b5-1 sales; applications for the Best Places to Work for in America list; a New York Times column praising employee ownership, citing companies with ESOPs and other plans; and the prominence of employee ownership companies in the Business Ethics 100 list. (National Center for Employee Ownership)

Speech by Edward Siedle on Forensic Investigations of Pensions, June 1, 2006
Excerpt: "Why are we concerned with pension fraud today? A. Lots of Money; Easy to Steal: ...." (Benchmark Advisory Services, Inc., and Benchmark Financial Services, Inc.)

2005 Investment Performance for Pension Funds in the Segal Advisors' Multiemployer Universe (PDF)
2 pages. (Segal Advisors, Inc.)

Judge Rules that Employee Can Sue Under State Laws in Pension Dispute
Excerpt: "The US District Court of Eastern New York denied the request of Cendant Corp. and IBM to drop the complaint of the two companies' former employee who filed a lawsuit citing fraudulent inducement, negligent misrepresentation and breach of contract in a dispute over his pension rights." ( one-time registration required)

Know When to Break the Retirement Investing Rules
Excerpt: "[T]he oft-repeated rules about how much income you'll need in retirement and when to withdraw it are being upended. 'Always question the conventional wisdom,' says Sandeep Singh, a finance professor at the State University of New York College at Brockport. 'There are tax and investment issues to consider' in retirement planning." (USA TODAY)

Links to Items on Executive Comp, Benefits in General

'Options Backdating' Issues Heat Up (PDF)
3 pages. Excerpt: "This LawFlash updates developments in the controversy, proposes initial steps general counsel and other senior corporate managers might wish to consider taking in response, ...." (Morgan, Lewis & Bockius LLP)

Newly Posted Press Releases
(Post Yours!)

U.S. Labor Secretary Elaine L. Chao Announces Former U.S. Rep. Vincent K. Snowbarger as PBGC Acting Executive Director
(U.S. Department of Labor, Employee Benefits Security Administration (EBSA))

Despite Ongoing Double-Digit Rates, Healthcare Costs Begin to Moderate, Says Aon Consulting
(Aon Consulting)

Metrics Partners Announces New Electronic Marketing Service
(Metrics Partners)

Newly Posted or Renewed Job Openings
Post a Help Wanted Ad

Plan Administrator
for LBA Retirement Planning Services
in FL

Retirement Services Provider Consultant
for Deloitte Consulting LLP
in MA

Retirement Services Provider Consultant
for Deloitte Consulting LLP
in NY

Retirement Services Provider Consultant
for Deloitte Consulting LLP
in MN

Associate Plan Administrator
for ePlan Services, Inc.
in CO

Implementation Specialist ~ Financial Services
for CitiStreet
in NJ

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