| BenefitsLink Retirement Plans Newsletter |   |
January 18, 2007
Sponsored by: International Foundation of Employee Benefit Plans
(Click on company name or banner to learn more.)
| International Foundation Expands Global Benefits and Compensation Educational Offerings |
| Globalization of nearly all industries is heating up, and the International Foundation is ready with more educational opportunities. The popular Certificate in Global Benefits Management program will be offered three times in 2007, covering the East and West coasts, as well as central U.S. The new Certificate in BRIC (Brazil, Russia, India, China) global course zeros in on what it takes to attract, retain and engage employees in countries experiencing exponential growth. Sign up today, as these courses sell out quickly! |
The Impact of Reversion Taxes on Pension Plan Funding
Excerpt: "[T]his research report . . . explores the impact of reversion taxes on pension plan funding and calculates an equitable level of reversion tax that would equitably compensate for the tax exempt earnings of the pension fund." (Society of Actuaries)
The Six Paths to Retirement (PDF)
28 pages. Excerpt: "[The authors] current research explores [the] transition from the world of work to the world of retirement. Using actual work histories from older Americans, [they] identify six distinct paths from work to retirement." (Vanguard Center for Retirement Research)
Workers Gain Retirement Plan Eligibility More Quickly
Excerpt: "New employees are being allowed to get up to speed in their company's 401(k) plan more quickly than a year ago, according to a new survey." (PLANSPONSOR.com; free registration required)
Review of Article on the New Accounting Rules for Defined Benefit Pension Plans
Excerpt: "'New defined-benefit pension accounting rules are likely to negatively impact financial statements, debt covenants and stock prices, and give plan sponsors the incentive to seek less volatile pension asset allocations. These new accounting rules will only provide additional incentives for managers to freeze, reduce, or terminate defined-benefit plans,' according to [the authors of the article]." (Insurance Newsnet)
Overview: IRS PPA Distribution Guidance in Notice 2007-7 (PDF)
5 pages. Excerpt: "The Notice covers the following topics: Interest rate assumptions for lump sum distributions; Hardship distributions; Early distributions to public safety employees; Rollovers for nonspouse beneficiaries; Distributions to pay for accident or health insurance for public safety officers; Vesting of nonelective contributions; Notice and consent period for distributions; and Distributions from IRAs to charitable organizations." (Sutherland Asbill & Brennan LLP)
Gambling Money from Employee Retirement System Further Weakens the Retirement Fund
Excerpt: "Recent news reported that Gov. Linda Lingle intends to divert $100 million from the State of Hawaii Employees Retirement System (ERS) to jump-start her 'Plan for innovation.' . . . Like politicians before her, Lingle now schemes to risk ERS funds on unproven projects to the detriment of state and county workers, retirees, and their families. Gambling money from the ERS will further weaken the retirement fund." (Hawaii Reporter, Inc.)
Hewitt Federal Legislation Quick Guide Updated as of January 16, 2007, for Retirement Plans (PDF)
1 page. This Federal Legislation Quick Guide provides short updates on federal legislation that is currently under active consideration by Congress or has recently been enacted into law regarding retirement plans. (Hewitt Associates)
JPMorgan Paper Suggests Pension Risk Management Needs Corporate Touch
Excerpt: "A new paper released by JPMorgan Asset Management (JPMAM) suggests that pension plans should adopt a risk management approach similar to the one used in corporate finance." (PLANSPONSOR.com; free registration required)
Passage of Bill 30 Significantly Changes Rules for Quebec Defined Benefit Plans
Excerpt: "On December 13, 2006, the Government of Quebec adopted Bill 30, An Act to amend the Supplemental Pension Plans Act, particularly with respect to the funding and administration of pension plans (Bill 30). This legislation, introduced on June 14, 2006, is intended to: protect pension benefits by improving plan funding, enhance plan governance and better define the scope of the responsibilities of pension committees and service providers." (Watson Wyatt Worldwide)
Sponsored by: Investment Company Institute
(Click on company name or banner to learn more.)
| February 7: The Latest Word from Washington on Retirement Plan Issues ... |
| Get up-to-the-minute insights from Labor Department and IRS officials on the Pension Protection Act of 2006, the most comprehensive revision of pension law since ERISA in 1974, at the Investment Company Institute’s Pension Protection Act Developments Conference in Washington, DC on February 7. The conference also features an address by Vanguard Group Chairman and CEO John Brennan.
ICI is the national association of U.S. mutual funds, which manage more than half of 401(k) assets. |
| (Please visit our sponsors. We try to make sure their products and services will be of interest to you. Thanks! --Editor) |
Links to Items on Executive Comp, Benefits in General
Senate Panel Limits Pay Deferrals for Executives
Excerpt: "On a voice vote, the committee agreed to change rules permitting some executives to amass millions of dollars in tax-deferred accounts. Limiting that perquisite would raise $806 million over 10 years, by congressional estimates." (The Washington Post; free registration required)
Fed Chief Ben Bernanke Warns Strain from Retiring 'Baby Boomers' Could Weaken U.S. Economy
Excerpt: "'In the end, the fundamental decision that Congress, the administration and the American people must confront is how large a share of the nation's economic resources to devote to federal government programs, including transfer programs such as Social Security, Medicare and Medicaid,' he said." (AP via Boston Herald)
Opinion: States' Employee Benefit Liabilities Continue to Outpace Revenue Growth
Excerpt: "Clearly, we need to adjust the normal retirement age for increased life expectancy. Then public employees and employers will both have more years to contribute to their retirement plans, thus increasing the plans' assets and reducing their liabilities." (Congressional Quarterly, Inc.)
Washington G.ay Rights Legislation on Domestic Benefits Covers Unwed Seniors
Excerpt: "Democratic lawmakers proposing a domestic-partnership bill for g.ay and les.bian couples want to extend those same rights to heterose.xuals 62 and older. The legislation would give g.ays, les.bians and unmarried seniors the right to visit a partner in the hospital, inherit their property without a will and make funeral arrangements, among other things. It's expected to be introduced next week." (The Seattle Times)
Overview: SEC Amendment of Option Disclosure Requirements (PDF)
3 pages. Excerpt: "The newest amendments became effective on December 29, 2006 as interim final rules. However, the SEC will consider any comments it receives before January 29, 2007 and will revise the interim final rule amendments as necessary." (Paul, Hastings, Janofsky & Walker LLP)
Overview: Change in Proxy Disclosure of Equity Compensation
Excerpt: "In this article, [CCA Strategies explores] this change by discussing some common scenarios with respect to plan provisions and FAS 123R expensing methodologies." (CCA Strategies, LLC)
Chronological Summary of Major Post-ERISA Benefit Legislation (PDF)
17 pages. This document summarizes all the major post-ERISA benefits legislation enacted since ERISA. (Hewitt Associates)
Major Post-ERISA Benefit Legislation (PDF)
2 pages. This document provides a listing of the legislation by title. (Hewitt Associates)
Hewitt Federal Legislation Quick Guide for January 16, 2007, on Human Resources & Employment Law (PDF)
2 pages. This Federal Legislation Quick Guide provides short updates on federal legislation that is currently under active consideration by Congress or has recently been enacted into law regarding human resources and employment law. (Hewitt Associates)
Newly Posted Events
Challenges and Solutions for Mature ESOP Companies
in Missouri on March 12, 2007
presented by National Center for Employee Ownership
Executive Compensation for ESOP Companies
Nationwide on May 10, 2007
presented by National Center for Employee Ownership
Handling the ESOP Repurchase Obligation
Nationwide on June 12, 2007
presented by National Center for Employee Ownership
Handling the Repurchase Obligation
in Colorado on April 11, 2007
presented by National Center for Employee Ownership
Health on the Hill - Webcast
Nationwide on January 18, 2007
presented by KaiserNetwork.org and Congressional Quarterly
Is an ESOP Right for You? The Basics
Nationwide on June 5, 2007
presented by National Center for Employee Ownership
Is an ESOP Right for You? Valuation, Finance, and Culture
Nationwide on June 7, 2007
presented by National Center for Employee Ownership
Making Your Company a Great Place to Work: Lessons from the Best Companies to Work For
Nationwide on February 6, 2007
presented by National Center for Employee Ownership
Measuring and Managing Ownership Culture
Nationwide on April 18, 2007
presented by National Center for Employee Ownership
Navigating the 409A Deferred Compensation Plan Rules
Nationwide on May 22, 2007
presented by National Center for Employee Ownership
New Rules for Health Savings Accounts (HSAs) -- What Changes Are Allowed and How and When Should We Make Them?
Nationwide on January 11, 2007
presented by Employee Benefits Institute of America Inc. (EBIA)
Preferred Stock in an ESOP
Nationwide on May 24, 2007
presented by National Center for Employee Ownership
S Corporation ESOPs
Nationwide on May 1, 2007
presented by National Center for Employee Ownership
What You Need to Know as an Internal ESOP Fiduciary
Nationwide on May 29, 2007
presented by National Center for Employee Ownership
Newly Posted Press Releases
Allied Pilots Association Outraged That Executive Bonuses Could Match or Exceed American Airlines’ 2006 Net Profit
Allied Pilots Association (APA)
ftwilliam.com Announces the Availability 1099 MISC Forms
ftwilliam.com
New Survey Reveals Connection Between Headaches and Productivity at Work
Institute of Health & Productivity Management
CaliforniaChoice Introduces the Most Advanced Online Enrollment Program for Health Coverage in California
CHOICE Administrators
Workplace Options Continues Global Expansion of Work-Life and EAP Services with Acquisition of Irish Company
Workplace Options
Newly Posted or Renewed Job Openings
Client Integration Transition Manager
for Diversified Investment Advisors
in NY
Quality Assurance and Compliance Auditor, Employee Benefits
for ABD Insurance and Financial Services
in CA
Sales Consultant - Retirement Benefits
for Diversified Investment Advisors
in NC
401(k) Administrator
for Santa Barbara TPA
in CA
DC Retirement Plan Administrator
for American Pension Benefits, Inc.
in PA
Account Relationship Manager
for Beneco, Inc.
in AZ
Retirement Services Administrator
for DeWaay Benefit Administrators, LLC
in IA
ERISA Attorney
for Haynes and Boone, LLP
in TX
Compliance Specialist
for Beneco, Inc.
in AZ
Compliance Document Specialist II
for Beneco, Inc.
in AZ
Retirement Plan Analyst - Job #01001943
for Weyerhaeuser Company
in WA
Compliance Specialist - ERISA
for MassMutual Financial Group
in MA
Sales Executive, Group Health Insurance Benefits
for John Adcock Insurance Agency, Inc.
in FL
Labor & Employment Associate - Employee Benefits
for Nixon Peabody LLP
in NY
Retirement Plan Services Analyst
for Precept
in CA
Payroll Strategist & Service Delivery Manager #41229
for Byrnes & Rupkey, Inc.
in OH
Plan Administrator
for South Florida TPA
in FL
Handy Links:
- View Today's Active Message Threads
- Using the Web for Employee Benefits Research (hypertext article)
- Employee Benefits Library
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