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=========================================================== BenefitsLink Retirement Plans Newsletter (Plain Text Format) September 10, 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_09_10_retirement> http://benefitslink.com/cgi/a_d.cgi?a_d=2004_09_10_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) ---------------------------------------------------------- IRS Grants Tax Relief for Florida Hurricane Victims (Internal Revenue Service (IRS)) http://benefitslink.com/pr/detail.php?id=38289 ---------------------------------------------------------- US Airways Seen as Likely to Declare Bankrup.tcy <URL:http://www.nytimes.com/2004/09/10/business/10airways.html?ex=1252555200&en=86f74fe274beb803&ei=5090&partner=rssuserland> http://www.nytimes.com/2004/09/10/business/10airways.html?ex=1252555200&en=86f74fe274beb803&ei=5090&partner=rssuserland Excerpt: "Barring a last-minute change of heart by its recalcitrant unions, US Airways appears all but certain to seek bankrup.tcy protection on Sunday, people briefed on the situation said yesterday." (The New York Times; one-time registration required) ---------------------------------------------------------- Alabama State Pension Fund Has Big Stake in US Airways: Employees Could Lose $240 Million <URL:http://www.buffalonews.com/editorial/20040910/1024231.asp> http://www.buffalonews.com/editorial/20040910/1024231.asp Excerpt: "Alabama's retired teachers and government employees could lose a $240 million stake in US Airways if the airline can't pull out of its financial nose dive, but the high-profile head of the state's pension fund said Thursday the system is diversified enough to withstand the loss. While huge for most investors, the loss would be small for the more than $25 billion portfolio of the Retirement Systems of Alabama, said chief executive officer David Bronner." (AP via The Buffalo News) ---------------------------------------------------------- Some See Delta Air Lines Plan as Setup for Bankrup.tcy <URL:http://www.theledger.com/apps/pbcs.dll/article?AID=/20040910/NEWS/40910002/1001> http://www.theledger.com/apps/pbcs.dll/article?AID=/20040910/NEWS/40910002/1001 Excerpt: "Key elements of Delta Air Lines Inc.'s broad turnaround plan will take months if not years to implement, suggesting the struggling carrier is setting itself up for how it will survive after a likely Chapter 11 filing, industry observers and legal experts said Thursday." (AP via The Ledger) ---------------------------------------------------------- Rollover IRAs: Choose the Investments You're Most Comfortable With and Consider Fees and Services <URL:http://www.businessweek.com/bwdaily/dnflash/sep2004/nf20040910_7203_db026.htm> http://www.businessweek.com/bwdaily/dnflash/sep2004/nf20040910_7203_db026.htm Excerpt: "When you go to work for an employer, you're not just getting a job but a retirement account as well. You'll be stuck with the 401(k) or similar alternative that's offered, and you get no opportunity to shop around for more attractive investment options or services." (Ellen Hoffman in BusinessWeek) ---------------------------------------------------------- Overview: IRS Modifies Separate Accounting Rules for Required Minimum Distribution Purposes <URL:http://www.investopedia.com/articles/retirement/04/090804.asp> http://www.investopedia.com/articles/retirement/04/090804.asp Excerpt: "On June 14th, 2004, the IRS issued regulations on the required minimum distributions (RMD) for defined benefit plans and annuity contracts providing benefits under qualified plans, individual retirement plans, and section 403(b) contracts. The regulations, which are effective January 1st, 2003, also include a change to the separate-accounting rules for defined contribution plans, which were included in the final RMD regulations issued in 2002." (Denise Appleby, CISP, CRC, CRPS, CRSP, APA on Investopedia.com) ---------------------------------------------------------- Reforming the Japanese Retirement Income System: a Special Case? (PDF) <URL:http://www.bc.edu/centers/crr/issues/gib_4.pdf> http://www.bc.edu/centers/crr/issues/gib_4.pdf 16 pages. Excerpt: "This brief is the fourth in a series that profiles national retirement income systems and their response to the impending demographic transition." (Center for Retirement Research at Boston College) ---------------------------------------------------------- How Does Your Retirement Program Look? 2004 Retirement Financial Management Benchmarking Data <URL:http://www.mercerhr.com/knowledgecenter/reportsummary.jhtml/dynamic/idContent/1154125;jsessionid=R0TFWEDW3YHK4AAJAADQOCAKMZSI4I2C> http://www.mercerhr.com/knowledgecenter/reportsummary.jhtml/dynamic/idContent/1154125;jsessionid=R0TFWEDW3YHK4AAJAADQOCAKMZSI4I2C Excerpt: "Equity markets were favorable to most pension plans during 2003, compared to their dismal performance during 2000 � 2002. In 2003, the S&P 500 index experienced a total return of 29 percent." (Mercer Human Resource Consulting) ---------------------------------------------------------- DOL Staff Offer Opinions on Issues Relating to Blackout Periods <URL:http://benefitslink.com/articles/washbull040907.html> http://benefitslink.com/articles/washbull040907.html Excerpt: "Department of Labor officials have provided informal guidance on applying new blackout period notice rules to situations involving a transfer of assets from one individual account plan to another as part of a corporate transaction or otherwise. The DOL officials also responded to a question about whether ERISA section 404(c) protections apply during blackout periods." (Deloitte's Washington Bulletin) ---------------------------------------------------------- Pension Plans Urged to Show Votes: GAO Report Calls For Greater Proxy Vote Transparency <URL:http://cbs.marketwatch.com/news/story.asp?guid=%7BE0CFB76A-843A-48DC-8D33-FD2682E71C92%7D&siteid=google&dist=google> http://cbs.marketwatch.com/news/story.asp?guid=%7BE0CFB76A-843A-48DC-8D33-FD2682E71C92%7D&siteid=google&dist=google Excerpt: "Pension plans, like mutual funds, should disclose how they vote shares of the stocks they hold to shield investors from potential conflicts of interest, a Government Accountability Office report said." (CBS MarketWatch) ---------------------------------------------------------- Pinching Pennies to Increase Fund Investment Returns <URL:http://www.treasuryandrisk.com/issues/14_8/retirement/307-1.html> http://www.treasuryandrisk.com/issues/14_8/retirement/307-1.html Excerpt: "In the past, the first response of companies facing falling returns has been to reallocate assets into investments with better yields--although presumably with more risk.... But while asset allocation clearly remains an important element in a plan's returns, many plan sponsors are also taking a closer look at ways they can boost returns by increasing their plan's efficiency and limiting expenses." (Treasury and Risk Management) ========================================================== Links To Items on Executive Comp, Benefits In General ---------------------------------------------------------- Choice Is Overrated; Easy to Have Too Much of a Good Thing <URL:http://www.washingtonpost.com/wp-dyn/articles/A10376-2004Sep9.html> http://www.washingtonpost.com/wp-dyn/articles/A10376-2004Sep9.html Excerpt: "[U]p to a point, choice does enhance efficiency and consumer welfare. But at some point, there get to be so many options about what to buy or what career to go into or which mutual fund to invest in that many people make worse decisions than they would if they had fewer choices -- or simply put off making a decision at all." (Washington Post; one-time registration required) ---------------------------------------------------------- Filling in the Blanks on Section 404 Compliance with a November Deadline Looming and Costs in Mind <URL:http://www.treasuryandrisk.com/issues/14_8/corporate_governance/306-1.html> http://www.treasuryandrisk.com/issues/14_8/corporate_governance/306-1.html Excerpt: "Any way you slice it, U.S. companies and their compliance teams are being pushed to the max. One quarter remains until the first batch of companies, and their auditors, must attest to their internal controls as required by the Sarbanes-Oxley Act. Controls are being rethought and remade as internal tests reveal weaknesses, and for many the last leg of the process--external auditors showing up at your door--is finally within sight." (Treasury & Risk Management) ---------------------------------------------------------- Hewitt Federal Legislation Quick Guide - Sept. 8, 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 Associates) ---------------------------------------------------------- House Opposes New Overtime Rules: Democrats Prevail in 223 to 193 Vote <URL:http://www.washingtonpost.com/wp-dyn/articles/A9039-2004Sep9.html> http://www.washingtonpost.com/wp-dyn/articles/A9039-2004Sep9.html Excerpt: "The House voted 223 to 193 yesterday to block the Bush administration's sweeping new eligibility rules for overtime pay, giving Democrats a significant victory that they hope will boost the party's standing among middle-class voters in key battleground states in the fall election." (The Washington Post; one-time registration required) ========================================================== Newly Posted Events Drug Importation Legislation: The Debate Over Drug Pricing, Cross-Border Purchases, and Government Regulation Nationwide on September 10, 2004 presented by Food and Drug Law Institute <URL:http://benefitslink.com/events/detail.php?id=38709> http://benefitslink.com/events/detail.php?id=38709 Obesity: Science, Policy and Regulation Focus on a Growing Consumer Problem Nationwide on September 10, 2004 presented by Food and Drug Law Institute <URL:http://benefitslink.com/events/detail.php?id=38708> http://benefitslink.com/events/detail.php?id=38708 Understanding Part D: The Voluntary Medicare Prescription Drug Benefit Nationwide on September 10, 2004 presented by Food and Drug Law Institute <URL:http://benefitslink.com/events/detail.php?id=38707> http://benefitslink.com/events/detail.php?id=38707 Post yours! http://benefitslink.com/events/eventmaint.php ========================================================== Newly Posted Press Releases McHenry Surveys Launched - TPA and Investment Advisors To Be Polled (McHenry Consulting Group) http://benefitslink.com/pr/detail.php?id=38287 Benefit Advisors Network Adds DiMartino Associates, Inc. (Benefit Advisors Network) http://benefitslink.com/pr/detail.php?id=38288 Post yours! http://benefitslink.com/pr/maint.php ========================================================== Newly Posted or Renewed Job Openings Benefits Specialist for Milliman, Inc. in WA http://benefitslink.com/modperl/show_a_job.cgi?database_id=H40473 Actuarial Analyst for Gabriel, Roeder, Smith & Company in FL http://benefitslink.com/modperl/show_a_job.cgi?database_id=H40475 Paralegal for ExpertPlan, Inc. in NJ http://benefitslink.com/modperl/show_a_job.cgi?database_id=H40476 Director, Client Services for BISYS Retirement Services in PA http://benefitslink.com/modperl/show_a_job.cgi?database_id=H40481 Compliance Consultant for The Vanguard Group in PA http://benefitslink.com/modperl/show_a_job.cgi?database_id=H40483 Compliance Testing Manager - PA for The Vanguard Group in PA http://benefitslink.com/modperl/show_a_job.cgi?database_id=H40484 Plan Conversion Manager - PA for The Vanguard Group in PA http://benefitslink.com/modperl/show_a_job.cgi?database_id=H40485 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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