An online, clickable version of this newsletter is available at: http://benefitslink.com/2004/2004_08_23_retirement.html
=========================================================== BenefitsLink Retirement Plans Newsletter (Plain Text Format) August 23, 2004 =========================================================== We thank and invite your attention to today's sponsor: IBF =========================================================== 7th Annual Pensions&Investments Defined Contribution West Coast Conference (Advert.) <URL:http://benefitslink.com/cgi/a_d.cgi?a_d=2004_08_23_retirement> http://benefitslink.com/cgi/a_d.cgi?a_d=2004_08_23_retirement (Click on above address, or copy and paste it into your web browser, to learn more.) The 7th Annual Pensions&Investments Defined Contribution West Coast Conference will be held October 24-26, 2004 at the Fairmont Hotel in San Francisco, CA. With increased liability exposure and reform initiatives, plan sponsors need solutions. This program is dedicated entirely to educating and training plan sponsors to incorporate superior risk management and control practices into their existing DC plan programs. To register or for more information click above or call 516-765-9005. (Please visit our sponsors. We try to make sure their products and services will be of interest to you. Thanks! --Editor) ---------------------------------------------------------- Delta Air Lines Prohibits Further Purchases of Company Stock Through Its 401(k) Plan <URL:http://www.dfw.com/mld/dfw/news/9455586.htm> http://www.dfw.com/mld/dfw/news/9455586.htm Excerpt: "The risk of bankrup.tcy at Delta Air Lines has grown so high that its employees have been barred from making investments in the airline's stock through their retirement plan. The decision was made earlier this month by U.S. Trust Corp., an independent financial advisor that was recently appointed to manage the Delta Stock Fund, a fund available in Delta's 401(k) retirement plan that invests only in shares of the airline." (Fort Worth [TX] Star-Telegram; one-time subscription required) ---------------------------------------------------------- United Given New Deadline to Devise Restructuring Plan <URL:http://www.nytimes.com/2004/08/21/business/21air.html> http://www.nytimes.com/2004/08/21/business/21air.html Excerpt: "A federal bankrup.tcy court judge on Friday gave United Airlines another 30 days to come up with a restructuring plan, but he warned the airline and its warring unions to cooperate on a solution or he would consider allowing alternative offers for United." (New York Times; one-time registration required) ---------------------------------------------------------- Faculty Retirement Incentives by Colleges and Universities (PDF) <URL:http://www.tiaa-crefinstitute.org/Programs/pe040104/pdf/07Paper_Pencavel.pdf> http://www.tiaa-crefinstitute.org/Programs/pe040104/pdf/07Paper_Pencavel.pdf 49 pages. Excerpt: "With the end of mandatory retirement in academia and the rise in employment of older faculty, colleges and universities have resorted to other means to induce employment separations. The purpose of this paper is to review these other means and to consider how else universities may be expected to respond to the changes resulting from the end of mandatory retirement." (John Pencavel published by the TIAA-CREF Institute) ---------------------------------------------------------- Opinion: Shifting Obligations of Pensions an Outrage <URL:http://www.mercurynews.com/mld/mercurynews/business/9465963.htm> http://www.mercurynews.com/mld/mercurynews/business/9465963.htm Excerpt: "Corporations are trying to shift pension and health obligations to the people to whom they've made extravagant promises, or if that won't work, onto governments." (The Mercury News; one-time registration required) ---------------------------------------------------------- Battle Lines Get Clearer In San Diego Over Pension Propositions <URL:http://www.signonsandiego.com/news/metro/20040822-9999-1m22pension.html> http://www.signonsandiego.com/news/metro/20040822-9999-1m22pension.html Excerpt: "Propositions G and H are touted as reforming San Diego's troubled pension system, whose gaping $1.15 billion deficit and other woes have generated a string of bad news at City Hall, from several credit-rating downgrades to an ongoing federal criminal investigation." (The San Diego Union-Tribune) ---------------------------------------------------------- Bush Pressing Case for 'Ownership Society,' Including Retirement Savings Reforms <URL:http://www.washingtonpost.com/wp-dyn/articles/A21969-2004Aug21.html> http://www.washingtonpost.com/wp-dyn/articles/A21969-2004Aug21.html Excerpt: "Bush's 'ownership' platform includes several unfulfilled campaign proposals from 2000. One would allow younger workers to divert some Social Security taxes into private government-sponsored retirement accounts. Another would create tax-free 'health savings accounts' that workers could take from job to job." (AP via Washington Post; one-time registration required) ---------------------------------------------------------- Guess Who Foots Bill for Mutual Fund Compliance <URL:http://www.sfgate.com/cgi-bin/article.cgi?file=/news/archive/2004/08/20/financial0849EDT0032.DTL> http://www.sfgate.com/cgi-bin/article.cgi?file=/news/archive/2004/08/20/financial0849EDT0032.DTL Excerpt: "When the Securities and Exchange Commission mandated that mutual funds have 'compliance' chiefs, it was trying to protect shareholders from improper behavior taking a bite out of their returns. But at some funds, compliance officers themselves will soon be nibbling away at investors' nest eggs." (Kimberly Palmer of the Wall Street Journal via AP at SFGate.com) ---------------------------------------------------------- The Value of Phased Retirement for Both the Individual and the Employer-University (PDF) <URL:http://www.tiaa-crefinstitute.org/Programs/pe040104/pdf/06Paper_Allen.pdf> http://www.tiaa-crefinstitute.org/Programs/pe040104/pdf/06Paper_Allen.pdf 33 pages. Excerpt: "Under most phased retirement plans, faculty members resign their full-time position (and often give up tenure) in return for the right to work half-time at half-salary for a given number of years. This paper examines how phased retirement creates value for both the university and the individual faculty member." (Steven G. Allen published by the TIAA-CREF Institute) ---------------------------------------------------------- Fiduciary Responsibilities Coming Into Focus for Employers <URL:http://www.oregonlive.com/business/oregonian/julie_tripp/index.ssf?/base/business/109300344792320.xml> http://www.oregonlive.com/business/oregonian/julie_tripp/index.ssf?/base/business/109300344792320.xml Excerpt: "Rules governing fiduciary responsibility require those who manage others' money to walk the straight and narrow.' (The Oregonian, one-time registration required) ---------------------------------------------------------- Overview: Final Regulations Issued for Determining Required Minimum Distributions <URL:http://www.mcguirewoods.com/news-resources/item.asp?item=997> http://www.mcguirewoods.com/news-resources/item.asp?item=997 Excerpt: "The Department of Treasury and the Internal Revenue Service recently issued guidance in the form of final regulations regarding the minimum distribution rules under Section 401(a)(9) of the Internal Revenue Code ... for defined benefit plans, annuity contracts purchased with account balances in defined contribution plans, 403(b) contracts, and individual retirement accounts and annuities (IRAs) ..." (McGuireWoods) ---------------------------------------------------------- Corporate Pension Reform in Japan: Big Bang or Big Bust? (PDF) <URL:http://prc.wharton.upenn.edu/prc/PRC/WP/WP2004-5.pdf> http://prc.wharton.upenn.edu/prc/PRC/WP/WP2004-5.pdf 46 pages. Working paper. Excerpt: "This paper investigates the events leading up to the passage of defined contribution pension legislation in Japan in June 2001. Expectations ran high that defined contribution (DC) legislation would induce a massive wave of DC plan conversion as Japanese companies began unloading their traditional defined benefit (DB) plans. However, despite the continuing pressures on Japanese companies, such a widescale movement did not occur ..." (Sarah (Ingmanson) McLellan via Pension Research Council) ========================================================== Links To Items on Executive Comp, Benefits In General ---------------------------------------------------------- Federal Defense of Marriage Act Upheld As Constitutional <URL:http://www.washtimes.com/national/20040821-115526-6139r.htm> http://www.washtimes.com/national/20040821-115526-6139r.htm Excerpt: "A federal judge in Washington state last week upheld the federal Defense of Marriage Act as constitutional, marking the first time a federal court has ruled on the 1996 law, which defines marriage as the union between a man and a woman." (Washington Times) ---------------------------------------------------------- Employees Not Inquiring Much About Same-Sex Benefits <URL:http://www.plansponsor.com/pi_type10/?RECORD_ID=26478> http://www.plansponsor.com/pi_type10/?RECORD_ID=26478 Excerpt: "Despite the increased coverage devoted to same-sex benefit policies, human resource departments have not had a flood of questions coming from their workforce." (PLANSPONSOR.com; one-time registration required) ---------------------------------------------------------- Rules for Overtime Pay to Take Effect: Employers, Workers Confused <URL:http://www.washingtonpost.com/wp-dyn/articles/A21925-2004Aug21.html> http://www.washingtonpost.com/wp-dyn/articles/A21925-2004Aug21.html Excerpt: "After months of heated debate, a major revision, protests and an unsuccessful legislative assault, the most sweeping changes to the nation's overtime rules in more than 50 years take effect tomorrow." (Washington Post; one-time registration required) ========================================================== Newly Posted Events Do We Have a Retirement Crisis in America? Nationwide on August 23, 2004 presented by TIAA-CREF Institute <URL:http://benefitslink.com/events/detail.php?id=38655> http://benefitslink.com/events/detail.php?id=38655 Ignoring the Noise: Investing in a Volatile Environment Nationwide on August 23, 2004 presented by TIAA-CREF Institute <URL:http://benefitslink.com/events/detail.php?id=38652> http://benefitslink.com/events/detail.php?id=38652 Making Retirement Income Last A Lifetime Nationwide on August 23, 2004 presented by TIAA-CREF Institute <URL:http://benefitslink.com/events/detail.php?id=38654> http://benefitslink.com/events/detail.php?id=38654 Recruitment, Retention and Retirement: The Three Rs of Higher Education in the 21st Century Nationwide on August 23, 2004 presented by TIAA-CREF Institute <URL:http://benefitslink.com/events/detail.php?id=38651> http://benefitslink.com/events/detail.php?id=38651 The FTC/DOJ Health Care Report: How Will the Agencies Administer the "Dose of Competition" Prescribed for the Industry? Nationwide on September 8, 2004 presented by American Health Lawyers Association <URL:http://benefitslink.com/events/detail.php?id=38650> http://benefitslink.com/events/detail.php?id=38650 Trends in Longevity and Implications for Retirement Planning Nationwide on August 23, 2004 presented by TIAA-CREF Institute <URL:http://benefitslink.com/events/detail.php?id=38653> http://benefitslink.com/events/detail.php?id=38653 Post yours! http://benefitslink.com/events/eventmaint.php ========================================================== Newly Posted Press Releases Labor Department Issues Final Rule Streamlining Registration By Investment Managers To Plans (U.S. Department of Labor, Office of Public Affairs, Washington, D.C.) http://benefitslink.com/pr/detail.php?id=38248 Post yours! http://benefitslink.com/pr/maint.php ========================================================== Newly Posted or Renewed Job Openings Sales Representative for Great-West Healthcare in AZ http://benefitslink.com/modperl/show_a_job.cgi?database_id=H39641 Retirement Sales Director for CitiStreet in CA, TX http://benefitslink.com/modperl/show_a_job.cgi?database_id=H40315 Plan Administrator for Abacus Benefit Consultants, Inc. in RI http://benefitslink.com/modperl/show_a_job.cgi?database_id=H40316 Senior Benefits Administrator for Access Retirement Services, LLC in TN http://benefitslink.com/modperl/show_a_job.cgi?database_id=H40317 Pension Analyst for Long Island Employee Benefits Group, Ltd. in NY http://benefitslink.com/modperl/show_a_job.cgi?database_id=H40318 Administrator / Consultant for Benefit Plans Plus, L.L.C. in MO http://benefitslink.com/modperl/show_a_job.cgi?database_id=H40319 Project Mgr. - Development/Implementation for Merrill Lynch in NJ http://benefitslink.com/modperl/show_a_job.cgi?database_id=H40321 Full Charge Bookkeeper for TPA Firm for Valley Forge Enterprises, Ltd. in PA http://benefitslink.com/modperl/show_a_job.cgi?database_id=H40322 Project Mgr.-Development Advice for Merrill Lynch in NJ http://benefitslink.com/modperl/show_a_job.cgi?database_id=H40323 Vice President � Retirement Resource Center for National City in OH http://benefitslink.com/modperl/show_a_job.cgi?database_id=H40324 Customer Service Representative for Great-West Healthcare in CO http://benefitslink.com/modperl/show_a_job.cgi?database_id=H40325 Participant Support Representative for Decimal, Inc. (www.theonline401k.com/schwab) in CA http://benefitslink.com/modperl/show_a_job.cgi?database_id=H40326 Retirement Services Product Manager for Administaff in TX http://benefitslink.com/modperl/show_a_job.cgi?database_id=H40329 Client Experience-Product Implementation Manager for Merrill Lynch in NJ http://benefitslink.com/modperl/show_a_job.cgi?database_id=H40330 ERISA Compliance Manager for MFS Retirement Services, Inc. in MA http://benefitslink.com/modperl/show_a_job.cgi?database_id=H40332 Pension Systems Analyst for COUNTRY Insurance & Financial Services in IL http://benefitslink.com/modperl/show_a_job.cgi?database_id=H40333 Actuary - Valuation for Lynchval Systems Worldwide Inc in VA http://benefitslink.com/modperl/show_a_job.cgi?database_id=H40334 Defined Contribution for Lynchval Systems Worldwide Inc. in VA http://benefitslink.com/modperl/show_a_job.cgi?database_id=H40336 Pension Administrator for Boyce & Associates, Inc. in Scottsdale Arizona in AZ http://benefitslink.com/modperl/show_a_job.cgi?database_id=H40337 Defined Benefit Pension Administrators for Polycomp Administrative Services, Inc. in Roseville and San Diego, CA in CA http://benefitslink.com/modperl/show_a_job.cgi?database_id=H40338 Post yours! http://benefitslink.com/jobs/post_help_wanted.html =========================================================== Subscribe to the BenefitsLink Welfare Plans Newsletter, Too Sign-up form is at: <URL:http://benefitslink.com/newsletter/> http://benefitslink.com/newsletter =========================================================== Copyright 2004 BenefitsLink.com, Inc.; except that you can forward this email in full (if you also include this boilerplate part) or otherwise reprint this email in full (if you include this boilerplate part) without obtaining our permission. Anyone can receive this newsletter; just use this Web page: <URL:http://benefitslink.com/newsletter/> http://benefitslink.com/newsletter/ Your company can sponsor an issue; for details, please see: <URL:http://benefitslink.com/newslettersponsor.html> http://benefitslink.com/newslettersponsor.html We're proud of our Privacy Policy: <URL:http://benefitslink.com/privacypolicy.html> http://benefitslink.com/privacypolicy.html To view earlier issues: <URL:http://benefitslink.com/newsletters/> http://benefitslink.com/newsletters/ Published by: BenefitsLink.com, Inc. http://benefitslink.com/about.html 1298 Minnesota Avenue, Suite H Winter Park FL 32789 (407) 644-4146 Fax: (407) 644-2151 Editor and Publisher: David Rhett Baker, J.D. [EMAIL PROTECTED] =========================================================== If you'd like to STOP this newsletter, just click on this link (or copy and paste it into your web browser): <URL:http://benefitslink.com/cgi/subme/[EMAIL PROTECTED]&l=10%20&subscribe=unsubscribe> http://benefitslink.com/cgi/subme/[EMAIL PROTECTED]&l=10%20&subscribe=unsubscribe If that doesn't work for you, please use this Web page: <URL:http://benefitslink.com/newsletter/> http://benefitslink.com/newsletter/ On that Web page enter the following email address: [EMAIL PROTECTED] (That's the exact address under which you are subscribed.) ------------------------ Yahoo! Groups Sponsor --------------------~--> Make a clean sweep of pop-up ads. Yahoo! Companion Toolbar. Now with Pop-Up Blocker. Get it for free! http://us.click.yahoo.com/L5YrjA/eSIIAA/yQLSAA/BCfwlB/TM --------------------------------------------------------------------~-> Yahoo! Groups Links <*> To visit your group on the web, go to: http://groups.yahoo.com/group/kumpulan/ <*> To unsubscribe from this group, send an email to: [EMAIL PROTECTED] <*> Your use of Yahoo! Groups is subject to: http://docs.yahoo.com/info/terms/
