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=========================================================== BenefitsLink Retirement Plans Newsletter (Plain Text Format) August 25-26, 2004 (combined issue) =========================================================== We thank and invite your attention to today's sponsor: BeneCom Associates, LLC =========================================================== BeneCom Associates, LLC, for one-stop benefit communications (Advert.) <URL:http://benefitslink.com/cgi/a_d.cgi?a_d=2004_08_26_retirement> http://benefitslink.com/cgi/a_d.cgi?a_d=2004_08_26_retirement (Click on above address, or copy and paste it into your web browser, to learn more.) Since 1992, BeneCom has produced benefit communications, including enrollment materials, SPDs, benefit statements, newsletters and more, for companies large and small, nationwide. So if you've been looking for an independent benefit communications specialist, look no further. Click above for more information, or give us a call at (860) 674-2626, Ext. 11, or (770) 461-5559. We're here to help. (Please visit our sponsors. We try to make sure their products and services will be of interest to you. Thanks! --Editor) ---------------------------------------------------------- Current Considerations and New Challenges for ERISA 404(c) Compliance (PDF) <URL:http://www.gcd.com/db30/cgi-bin/pubs/CurrentConsiderationsAndNewChallengesForERISA.pdf> http://www.gcd.com/db30/cgi-bin/pubs/CurrentConsiderationsAndNewChallengesForERISA.pdf 14 pages. Excerpt: "The recent focus on mutual fund trading practices and fee arrangements has raised particular concerns for retirement plan sponsors who maintain defined contribution individual account plans that allow participants to direct the investment of their accounts." (The Bureau of National Affairs via Gardner Carton & Douglas) ---------------------------------------------------------- Overview: The Saver's Credit: Issues and Options (PDF) <URL:http://www.urban.org/UploadedPDF/1000642_TaxBreak_050304.pdf> http://www.urban.org/UploadedPDF/1000642_TaxBreak_050304.pdf 16 pages. Excerpt: "This article provides an overview of the rationale, history, and possible modifications to the saver's credit, which was enacted as part of the 2001 tax legislation." (Tax Notes via the Urban Institute) ---------------------------------------------------------- U.S. Expresses Concern About UAL Pensions <URL:http://www.nytimes.com/reuters/business/business-airlines-united-pensions.html?ex=1248840000&en=f311b9ccce8fe09a&ei=5090&partner=rssuserland> http://www.nytimes.com/reuters/business/business-airlines-united-pensions.html?ex=1248840000&en=f311b9ccce8fe09a&ei=5090&partner=rssuserland Excerpt: "The Bush administration expressed fresh concern on Wednesday about the possibility bankrupt United Airlines (UALAQ.OB) might scrap its employee pension plans, which would shift the burden of paying benefits to the government." (Reuters via The New York Times (one-time registration required)) ---------------------------------------------------------- Pensions on a Precipice: What Could Happen If UAL Offloads Its Retirement Plan on the Feds? <URL:http://www.businessweek.com/bwdaily/dnflash/aug2004/nf20040826_2426_db035.htm> http://www.businessweek.com/bwdaily/dnflash/aug2004/nf20040826_2426_db035.htm Excerpt: "The threat by UAL, parent of struggling United Airlines, to walk away from its four pension plans has set off shock waves throughout the airline industry." (BusinessWeek Online) ---------------------------------------------------------- Company Focus: 40 Companies Sitting on Pension Time Bombs <URL:http://moneycentral.msn.com/content/P87329.asp> http://moneycentral.msn.com/content/P87329.asp Excerpt: "United Airlines' struggles have put a new focus on a pension guaranty system that is near collapse. Reform could take a huge chunk out of the bottom line on big offenders." (MSN Money) ---------------------------------------------------------- Pension Bailout Called Possibility <URL:http://www.chicagotribune.com/business/chi-0408250299aug25,1,587220.story?coll=chi-business-hed> http://www.chicagotribune.com/business/chi-0408250299aug25,1,587220.story?coll=chi-business-hed Excerpt: "The pension shortfall among U.S. companies may force the federal agency that insures retirement plans to seek a taxpayer bailout similar to the one during the savings and loan crisis, according to the Cato Institute, a policy research group." (Bloomberg News via Chicago Tribune; one-time registration required) ---------------------------------------------------------- Opinion: Airline Pension and Labor Negotiations Are On Autopilot <URL:http://newyorker.com/talk/content/?040823ta_talk_surowiecki> http://newyorker.com/talk/content/?040823ta_talk_surowiecki Excerpt: "Bad practices linger, even when the consequences are dire. Companies, like people, don't much like to change." (The New Yorker) ---------------------------------------------------------- How to Scrutinize Your Pension Plan's Solvency <URL:http://cbs.marketwatch.com/news/story.asp?guid=%7BD66371F0-836E-4013-A59C-F433EE61D1D3%7D&siteid=google&dist=google> http://cbs.marketwatch.com/news/story.asp?guid=%7BD66371F0-836E-4013-A59C-F433EE61D1D3%7D&siteid=google&dist=google Excerpt: "If you're among the 41 million Americans in 50,000-plus traditional pension plans, there's still time to determine whether promises made by your company's plan will be promises kept." (CBS MarketWatch.com) ---------------------------------------------------------- For Mutual Funds, First the Slap. Now Comes the Pinch <URL:http://www.nytimes.com/2004/08/26/business/26fund.html?ex=1251172800&en=0416817fc38f4b21&ei=5090&partner=rssuserland> http://www.nytimes.com/2004/08/26/business/26fund.html?ex=1251172800&en=0416817fc38f4b21&ei=5090&partner=rssuserland Excerpt: "For all the attention focused on the investigations, regulators have yet to address broader issues that are likely to put more money back in investors' pockets - and have a heftier impact on fund companies' bottom lines. 'As scandalous as the scandal was,' said Roy Weitz, who runs a Web site called Fundalarm.com, 'so far the big-dollar issues have escaped being fixed.'" (The New York Times; one-time registration required) ---------------------------------------------------------- Opinion: How to Reduce the Cost of Federal Pension Insurance <URL:http://www.cato.org/pubs/pas/pa-523es.html> http://www.cato.org/pubs/pas/pa-523es.html Cato Policy Analysis by Richard A. Ippolito. A former Pension Benefit Guaranty Corporation (PBGC) economist presents a plan to improve the underfunded status of the agency. (Cato Institute) ========================================================== Links To Items on Executive Comp, Benefits In General ---------------------------------------------------------- Hewitt Federal Legislation Quick Guide as of August 24, 2004 <URL:http://was4.hewitt.com/hewitt/resource/legislative_updates/united_states/qg_index.htm> http://was4.hewitt.com/hewitt/resource/legislative_updates/united_states/qg_index.htm Excerpt: "Hewitt's 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 health and welfare benefit plans, retirement plans, and human resources and employment law." (Hewitt) ---------------------------------------------------------- Overview: New DOL Fairplay Rules Change FLSA Overtime Exemption Tests <URL:http://www.haygroup.com/library/viewpoints/flsa_rules-overtime.asp> http://www.haygroup.com/library/viewpoints/flsa_rules-overtime.asp Excerpt: "In April, 2004, the U.S. Department of Labor (DOL) issued new regulations for determining when 'white collar' employees may be treated as 'exempt' from the minimum wage and overtime requirements of the Fair Labor Standards Act of 1938 (FLSA). The FLSA requires employers to pay employees, other than exempt employees, at least the minimum wage and overtime pay at 1.5 times their regular pay rate, for each hour worked over 40 hours in a workweek." (Hay Group) ---------------------------------------------------------- Opinion: There's a Better Way to Handle Stock Options <URL:http://quote.bloomberg.com/apps/news?pid=10000039&refer=columnist_crystal&sid=aF.vVi_5jTFc> http://quote.bloomberg.com/apps/news?pid=10000039&refer=columnist_crystal&sid=aF.vVi_5jTFc By Graef Crystal. Excerpt: "It's time for U.S. companies to consider a better alternative to using free shares of stock or stock options as their long-term incentive plan: a combination of in-the-money and out-of-the-money stock options." (Bloomberg News) ========================================================== Newly Posted Events Consumer Health Care Breakthroughs -- Employees Can Save You Money Nationwide on August 27, 2004 presented by WorldatWork <URL:http://benefitslink.com/events/detail.php?id=38665> http://benefitslink.com/events/detail.php?id=38665 Mutual Fund Trading Rules in California on September 23, 2004 presented by Western Pension & Benefits Conference - Orange County Chapter <URL:http://benefitslink.com/events/detail.php?id=38663> http://benefitslink.com/events/detail.php?id=38663 QDROs - Bringing Clarity to Confrontation Nationwide on September 14, 2004 presented by SunGard Corbel <URL:http://benefitslink.com/events/detail.php?id=38661> http://benefitslink.com/events/detail.php?id=38661 The Monsanto Decision: What Does It Mean For Pension Plan Sponsors and Members? Nationwide on September 10, 2004 presented by International Foundation of Employee Benefit Plans <URL:http://benefitslink.com/events/detail.php?id=38662> http://benefitslink.com/events/detail.php?id=38662 Washington Update in Illinois on September 7, 2004 presented by ASPA Benefits Council of Chicago <URL:http://benefitslink.com/events/detail.php?id=38664> http://benefitslink.com/events/detail.php?id=38664 What World Class Companies Spend on HR Nationwide on September 15, 2004 presented by WorkWorlds / HRTrainingCenter.com <URL:http://benefitslink.com/events/detail.php?id=38666> http://benefitslink.com/events/detail.php?id=38666 Post yours! http://benefitslink.com/events/eventmaint.php ========================================================== Newly Posted Press Releases Arizona Company Honors Segal Co. with Supplier of the Year Award (The Segal Company) http://benefitslink.com/pr/detail.php?id=38252 Lip Service: Big Government Republicans On Free Market Health Care Reform (Americans for Free Choice in Medicine (AFCM)) http://benefitslink.com/pr/detail.php?id=38253 Plan Sponsors Gain Advantage with New CPI Offering (CPI Qualified Plan Consultants, Inc.) http://benefitslink.com/pr/detail.php?id=38251 Grassley Urges Rewrite of Rule Costing Employees Health Savings (Senator Chuck Grassley, Chairman, Finance Committee) http://benefitslink.com/pr/detail.php?id=38250 The CPA's Guide to Retirement Plans for Small Businesses (American Institute of Certiifed Public Accountants (AICPA)) http://benefitslink.com/pr/detail.php?id=38254 Post yours! http://benefitslink.com/pr/maint.php ========================================================== Newly Posted or Renewed Job Openings Retirement Services Implementation Manager - Baltimore / Atlanta area for ADP Retirement Services in GA, MD http://benefitslink.com/modperl/show_a_job.cgi?database_id=H40293 Inside Sales Representative for ExpertPlan, Inc. in NJ http://benefitslink.com/modperl/show_a_job.cgi?database_id=H40345 Senior Advisor, Pension Design for NRECA in VA http://benefitslink.com/modperl/show_a_job.cgi?database_id=H40347 Field Sales Coordinator for Transamerica in MA http://benefitslink.com/modperl/show_a_job.cgi?database_id=H40349 Vice President - Relationship Management for BISYS Retirement Services in PA http://benefitslink.com/modperl/show_a_job.cgi?database_id=H40350 Relationship Manager for BISYS Retirement Services in PA http://benefitslink.com/modperl/show_a_job.cgi?database_id=H40351 401(k) Specialist - Client Service and Compliance Skills for ADP TotalSource in GA http://benefitslink.com/modperl/show_a_job.cgi?database_id=H40352 Retirement Plans Sales Specialist for Waddell & Reed Financial in KS, MO http://benefitslink.com/modperl/show_a_job.cgi?database_id=H40353 Pension Consultant/Administrator for TPA in San Diego, California in CA http://benefitslink.com/modperl/show_a_job.cgi?database_id=H40356 Plan Administrator for Susquehanna Bank in PA http://benefitslink.com/modperl/show_a_job.cgi?database_id=H40357 Receptionist for Leggette Actuaries, Inc. in TX http://benefitslink.com/modperl/show_a_job.cgi?database_id=H40358 Senior 401(k) Plan Specialist for CitiStreet - A State Street and Citigroup company in MA http://benefitslink.com/modperl/show_a_job.cgi?database_id=H40359 Pension Administrator for Qualified Plan Consultants, LLC in IA http://benefitslink.com/modperl/show_a_job.cgi?database_id=H40363 Inside Sales Representative for BISYS Retirement Services in PA http://benefitslink.com/modperl/show_a_job.cgi?database_id=H40364 Director of Marketing Communications for AIG Workplace Solutions in TX http://benefitslink.com/modperl/show_a_job.cgi?database_id=H40366 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. 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