| BenefitsLink Retirement Plans Newsletter |   |
February 23, 2007
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Ninth Circuit Says Federal Restitution Law Trumps ERISA Anti-Alienation Rule
Excerpt: "The court said the government does not have unlimited power to take money from a pension and can collect restitution only from funds that the criminal defendant is entitled to receive immediately, as post-retirement benefits or advance lump-sum payments. But the court said Congress intended to make a wide range of funds available to crime victims." (San Francisco Chronicle)
Detailed Overview: New Pension Mortality Tables for 2007 Current Liability Calculations (PDF)
2 pages. (Milliman)
Opinion: Red States and Blue States -- The Battle for the Heart and Soul of 401(k) Plans
Excerpt: "I am not using the popular references of red states for Republicans and blue state for Democrats. Instead, I am referring to two distinct states of mind. In their simplest form, the different states of mind can be described as follows. The red state believes that every person should stand on his own. . . . [while those] in the blue state of mind hold that we are members of a community and that we can share and allocate responsibilities among employers, employees, and government." (Reish Luftman Reicher & Cohen)
A 401(k) Plan That Works -- the 'Bundled Unbundled' Solution (PDF)
4 pages. Excerpt: "Bundled plans were originally supposed to simplify 401(k) management. However, plans have become increasingly complex as the ways in which fees can be calculated have evolved over the years. In fact, the Department of Labor 401(k) Fee Disclosure Form lists 38 definitions for fee terms. But it doesn't have to be that way. There are essentially four parties that deliver services to 401(k) plans: recordkeepers, trustees, fund companies, and investment advisors. . . ." (Milliman)
Half of Employers May Have to Change Default Investment Options, Watson Wyatt Finds
Excerpt: "Employers that automatically choose 401(k) investments for employees could face significant changes to those programs in the future, according to experts at Watson Wyatt Worldwide, a leading global consulting firm." (CCH Pension and Benefits)
Los Angeles Police Department Braces for Exodus of Employees Upon Completion of DROP Period
Excerpt: "The LAPD's Deferred Retirement Option Plan . . . allows eligible officers to put their retirement payments in interest-earning accounts for a maximum of five years while they continue to work at their regular salary. At the end of the five years, or earlier, they collect the lump-sum retirement savings and begin receiving their pensions. . . . [The program] has allowed the 255 officers leaving by October of this year to stay on years after they might otherwise have retired." (DailyNews.com)
Massachusetts State Retirement Board Rejects Pension Increase of Former Lawmakers
Excerpt: "The state retirement board today unanimously rejected petitions by three former state representatives who wanted their pensions increased to reflect the perks of office, including the value of state parking spaces on Beacon Hill, a $600 monthly stipend for expenses, and costs for traveling to and from the State House. . . . [One of the petitioners] called the board's vote a political decision motivated by a lack of respect for lawmakers." (Boston.com)
Online Resource: Social Security Administration Office of Policy
Includes links to reports, statistics, newsletters. Excerpt: "The Office of Policy serves as the Social Security Administration's focal point for policy analysis and research, evaluation, and statistics." (Social Security Administration)
Links to Items on Executive Comp, Benefits in General
U.S. Chamber Study Shows Employee Benefit Costs Continue to Rise
Excerpt: "Employee benefit costs swelled again in 2005 and now account for more than 44% of payroll expenses, according to the U.S. Chamber of Commerce's annual Employee Benefits Study. Employee benefits, as a percent of payroll, have risen 4 percentage points over the past year." (Forbes)
The Slow Pace of Justice on Options Backdating
Excerpt: "A sweeping investigation into the backdating of stock options at more than 100 companies has so far led to relatively few enforcement actions or resolutions." (New York Times; free registration required)
Newly Posted Events
Introduction to Retirement Plans
in Illinois on June 12, 2007
presented by McKay Hochman Co., Inc.
Introduction to Retirement Plans
in Massachusetts on August 7, 2007
presented by McKay Hochman Co., Inc.
Retirement Plan Insights
in Pennsylvania on May 16, 2007
presented by McKay Hochman Co., Inc.
Retirement Plan Insights
in Illinois on June 12, 2007
presented by McKay Hochman Co., Inc.
Retirement Plan Insights
in Missouri on July 10, 2007
presented by McKay Hochman Co., Inc.
Retirement Plan Insights
in Massachusetts on August 7, 2007
presented by McKay Hochman Co., Inc.
Retirement Plan Insights
in Ohio on September 25, 2007
presented by McKay Hochman Co., Inc.
Retirement Plan Insights
in Nevada on November 6, 2007
presented by McKay Hochman Co., Inc.
Retirement Plan Insights
in Maryland on November 19, 2007
presented by McKay Hochman Co., Inc.
Structuring an Effective PBM RFP to Dramatically Decrease Your PBM Costs Teleweb
Nationwide on March 15, 2007
presented by International Foundation of Employee Benefit Plans
Newly Posted Press Releases
Ceridian LifeWorks and Leade Health Launch Bariatric Surgery Health Coaching Service
Ceridian
U.S. Chamber Study: Employee Benefit Costs Continue to Rise
U.S. Chamber of Commerce
ARAG® Partners with PwC to Offer Enhanced Financial Planning Services
ARAG
Financial Executives International and The McHenry Group Partner to Deliver Web-based Retirement Plan Newsletter
Financial Executives International
BPA-HARBRIDGE Eases Administrative Burden of Automatic Enrollment
BPA-Harbridge
Newly Posted or Renewed Job Openings
Senior Programmer Analyst
for CitiStreet
in NJ
Senior Employee Benefit Specialist
for The Principal Financial Group
in TX
Retirement Plan Consultant - Boston Back Bay
for The Bostonian Group
in MA
Senior Retirement Plan Administrator
for Benefit Consultants Group
in NJ
Institutional Trust Product Specialist
for Merrill Lynch
in NJ
Manager, Decision Support
for HEREIU Welfare-Pension Funds (Culinary Fund)
in NV
Sales Associate, 401(k) Products Department
for Citigroup Smith Barney
in NY
Pension Administrator
for Stalker & Associates, Inc.
in PA
401(k) Plan Administrator
for Retirement Planners
in VA
401(k) Pension Administrator
for Pensions Plus, Inc.
in CT
AVP, Health and Welfare Benefits
for Countrywide Financial
in CA
Entry Level 401 (k) Administrator
for Scholz, Klein & Friends Enlightened Retirement Group, Inc.
in TX
Handy Links:
- View Today's Active Message Threads
- Using the Web for Employee Benefits Research (hypertext article)
- Employee Benefits Library
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