Retirement Plans
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July 12, 2006
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(Please visit our sponsors. We try to make sure their products and services will be of interest to you. Thanks! --Editor)

Text of PBGC Correction to 12/95 Final Reg. on Plan Sponsor's Duties Following a Mass Withdrawal
Excerpt: "This document amends part 4281 (Duties of Plan SponsorFollowing Mass Withdrawal) to make technical changes to conform to amendments made to part 4044 (Allocation of Assets in Single-EmployerPlans) in a final rule published in the Federal Register on December 2,2005. That final rule updated PBGC's mortality tables used for certain valuations for single-employer plans.... Technical amendments are needed to conform the references in part 4281 to the changes in part4044." (Pension Benefit Guaranty Corporation)

Another Question is Answered in the Who's the Employer Q&A Column
A nonprofit organization-- specifically, a cemetery that is tax-exempt under section 501(c)(13) of the Internal Revenue Code-- has a 6-person board of directors. Under its bylaws, the board elects next year's board by majority vote. Four of the 6 on the current board are 'representatives of' a for-profit funeral home (a corporation), within the meaning of Prop. Treas. Reg. 1.414(c)-5(b).... Does the for-profit corporation 'control' the non-profit organization? (

Overview: 401(k) Plans and Fees
Excerpt: "With increasing attention to 401(k) plans as the retirement 'benefit of the future,' both Congress and regulators are considering initiatives to somehow 'get at the fee issue.' [Those initiatives are reviewed in this article]." (CCA Strategies LLC via BNA Tax Management)

OPM Chief Renews Push for Electronic Pension System
Excerpt: "The Bush administration's top personnel adviser made a public push Tuesday for Congress to reverse itself and fund an electronic processing system for federal employee pensions, at a cost of about $27 million." (

Advisers See Threat to Pensions and Benefits from EU Rules on Discrimination
Excerpt: "The new European regulations on age discrimination at work, due to take effect in less than three months' time, could lead to employers abandoning pension schemes and cutting other workplace benefits, according to leading advisers. The new rules could also lead to employees claiming their pension whilst insisting on staying in their job, when the changes become law on October 1." (The Herald via NewsEdge Corporation via Human Resource Executive Online; one-time registration required)

Links to Items on Executive Comp, Benefits in General

The Executive Report, July 11, 2006, on Recent News in Pension and Health Benefits (PDF)
9 pages. This edition includes: Automatic Enrollment Rule Likely to Include Qualified Default; Prospects for Pension Reform Legislation Remain Uncertain; IRS Adopts ERIC Guidance on 409A Conflict-of-Interest Exception; and, EEOC Staff Comments Indicate ADA Could Bar Wellness Program Practices. (The ERISA Industry Committee)

Issues in Brief: Employer Attitudes towards Older Workers -- Survey Results
Excerpt: "To get a better understanding of the employment prospects of older workers, the Center ... conducted a survey of 400 private sector employers. These employers were asked to evaluate the relative productivity and cost of white-collar and rank-and-file workers age 55 and older and whether, on balance, older employees or job candidates were more or less attractive than their younger counterparts. [The full paper and detailed survey data can be accessed from the target page.]" (Center for Retirement Research at Boston College)

Same-Gender Marriage Developments Affect Benefit Plan Sponsors-- An Update
Excerpt: "Federal and state courts, legislatures, and voters in the United States have recently weighed in on the debate surrounding the legal recognition of same-gender marriage. Unfortunately, those voices give employers a number of mixed messages with respect to how they should treat same-gender couples under their benefit plans." (McDermott Will & Emery)

Boeing Employees Enjoy Stock Bonuses
Excerpt: "Based on its stock price on Friday, the [Boeing Company] will pay bonuses to thousands of its current and former employees. Employees with at least four years of service will receive approximately $5,400 in stock." (erisa on the web; posted by John Wood)

Overview: Stock Option Award Timing Issues
Excerpt: "While there may be innocent or reasonable explanations for such occurrences--such as improper or incomplete record-keeping or insufficient oversight--both government investigators and civil litigants have focused their efforts on establishing that corporate officers and directors deliberately manipulated the dates of stock option grants to ensure that such options were 'in the money' when granted (thereby maximizing their future vested value to the grantee) ..." (Winston & Strawn, LLP via BNA Tax Management)

Opinion: The Tax Code Must Be Updated to Protect Quality of Life for Longer-Living Americans
Excerpt: "A potentially severe and protracted crisis is on the horizon -- a crisis so deep and widespread that it could affect virtually every public-policy debate in Washington. It is not hard to imagine millions of retired baby boomers, relying solely on Social Security because they have exhausted their savings, pressing federal lawmakers for help in their final years." (Frank A. Keating via The Hill)

Opinion from Graef Crystal: SEC's Atkins Joins the Oblivious Camp on Options
Excerpt: "You would think that if anyone understands how top executives gorge on stocks options it would be the U.S. Securities and Exchange Commission. Too bad Commissioner Paul Atkins seems to be in the camp of the willfully oblivious. In a speech before the International Corporate Governance Network, Atkins defended making option grants ahead of good times and good news as being beneficial for shareholders." (Bloomberg News)

We thank and invite your attention to our additional sponsor: The Center for Tax Law and Employee Benefits at The John Marshall Law School

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Banner ad for The Center for Tax Law and Employee Benefits at The John Marshall Law School

You Have the Potential. We Have the Programs.

Are you working in human resources? Are you dealing with health insurance plans or pension benefits? Learn how you can broaden your experience with an M.S. degree (for non-lawyers) or LL.M degree (for attorneys) in employee benefits from The John Marshall Law School in Chicago during an information session from 5 to 7 p.m., Wednesday, August 2. Learn how these unique programs can help advance your career.

(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!)

Benefits Issues in M&A Transactions - Webcast
Nationwide on July 19, 2006
presented by Retirement Capital Group

Dependent Care-- What Expenses Qualify for Reimbursement?
Nationwide on June 22, 2006
presented by Employee Benefits Institute of America Inc. (EBIA)

Newly Posted Press Releases
(Post Yours!)

Telecommuting Fights Rising Gasoline Prices, but Manager Concerns Limit Use
(First Guarantee)

Manpower Survey Finds High Fuel Costs Impacting Work/Life Balance

ABIA-ABA Witness Says Insurance Regulations Harm Consumers, Optional Federal Charter Needed
(American Bankers Insurance Association)

Workplace Options Introduces Managerial Tool Kit
(Workplace Options)

Fiserv ISS and Presidium Retirement Advisers Inc. Launch New Collective Investment Funds
(Target Marketing Solutions, Inc.)

Newly Posted or Renewed Job Openings
Post a Help Wanted Ad

Retirement Specialist
for AON [A Fortune 250 company]
in FL

401K Plan Administrator
for Heinz-Daniel Associates, Inc.
in GA

Senior Benefits Consultant, Health and Welfare
for Top-Tier Global Human Resources Consulting Firm
in NY

Sales Consultant - Retirement
for TRI-AD
in CA

Senior Benefits Analyst
for Retail Industry
in NJ

Financial Planner / Investment Specialist
for Diversified Investment Advisors
in IN

Pension Assistant
for White Plains Firm with Growing Retirement Plan Administration / Pension Consulting Department
in NY

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