An online, clickable version of this newsletter is available at: http://benefitslink.com/2004/2004_09_01_retirement.html
=========================================================== BenefitsLink Retirement Plans Newsletter (Plain Text Format) September 1, 2004 =========================================================== We thank and invite your attention to today's sponsor: www.ftwilliam.com =========================================================== Register for our free on-line demo! (Advert.) <URL:http://benefitslink.com/cgi/a_d.cgi?a_d=2004_09_01_retirement> http://benefitslink.com/cgi/a_d.cgi?a_d=2004_09_01_retirement (Click on above address, or copy and paste it into your web browser, to learn more.) www.ftwilliam.com offers the employee benefits professional the highest quality plan documents and forms at highly competitive prices. Plan documents on a per document basis are only $50/adoption agreement, or $100/volume submitter document (including cross testing). An annual subscription to all documents is only $1,500. The Form 5500 package and the IRS/PBGC form package are only $250 each. Prices include access for five concurrent users. (Please visit our sponsors. We try to make sure their products and services will be of interest to you. Thanks! --Editor) ---------------------------------------------------------- Overwhelmed? Practical Investment Considerations for 401(k) Plan Participants <URL:http://www.csmonitor.com/2004/0830/p15s01-wmgn.html> http://www.csmonitor.com/2004/0830/p15s01-wmgn.html Excerpt: "Like a car's suspension, your portfolio needs an occasional realignment. In fact, many advisers tell customers to take their investments in for a tune-up once or twice a year to make sure nothing is out of whack." (The Christian Science Monitor) ---------------------------------------------------------- 401(k) Market Statistics About Mutual Funds <URL:http://www.ici.org/home/faqs_401k.html> http://www.ici.org/home/faqs_401k.html Excerpt: "At year-end 2003, Section 401(k) plans held an estimated $1.9 trillion in assets and represented approximately 16 percent of the $12.1 trillion U.S. retirement market. Assets in 401(k) plans have increased on average 13 percent per year, from $385 billion in 1990." (Investment Company Institute) ---------------------------------------------------------- Figuring Out 401(k) Investment Returns Can Be Complicated Matter <URL:http://www.sun-sentinel.com/business/columnists/sfl-zsave01sep01,0,7238078.column?coll=sfla-business-col> http://www.sun-sentinel.com/business/columnists/sfl-zsave01sep01,0,7238078.column?coll=sfla-business-col Excerpt: "Despite the 2000-2002 bear market, the average account balance for American workers in their 20s with 401(k) plans jumped from $10,007 on Dec. 31, 1999, to $23,888 on Dec. 31, 2003, a 138.7 percent increase." (Sun-Sentinel) ---------------------------------------------------------- 401(k) Day is September 7, 2004 <URL:http://www.psca.org/kdaymain.html> http://www.psca.org/kdaymain.html Excerpt: "What is 401(k) Day? 401(k) Day is an annual celebration spotlighting the importance of employer-sponsored profit sharing and 401(k) plans. As retirement follows work, 401(k) Day officially falls on the day after Labor Day. You may download 401(k) Day tools at http://www.psca.org/KDAY/2004/kdownload.html"; (The Profit Sharing/401(k) Council of America) ---------------------------------------------------------- Opinion: San Diego Must Stop the Actuarial Bleeding by Stopping Practice of Issuing '13th Check' <URL:http://www.signonsandiego.com/uniontrib/20040831/news_lz1ed31top.html> http://www.signonsandiego.com/uniontrib/20040831/news_lz1ed31top.html Excerpt: "Mayor Dick Murphy and the council have done nothing as yet to contain the explosive growth of retiree benefits, which threaten to bankrupt the city's general fund.... The 13th check, officially known as the Annual Supplemental Benefit, is entirely above and beyond the extraordinarily generous regular pension benefits paid to 4,000 city retirees." (San Diego Union-Tribune) ---------------------------------------------------------- US Airways, Machinists Hit Impasse on Concessions <URL:http://www.washingtonpost.com/wp-dyn/articles/A51144-2004Aug31.html> http://www.washingtonpost.com/wp-dyn/articles/A51144-2004Aug31.html Excerpt: "Cost-cutting talks between US Airways and its machinist union broke off yesterday after the airline said the union's proposed money-saving ideas were not enough to help the carrier avoid bankrup.tcy." (The Washington Post; one-time registration required) ---------------------------------------------------------- UAL May Cut 6,000: United Considering Slashing Work Force by 10%, Report Says <URL:http://www.rockymountainnews.com/drmn/business/article/0,1299,DRMN_4_3153108,00.html> http://www.rockymountainnews.com/drmn/business/article/0,1299,DRMN_4_3153108,00.html Excerpt: "United Airlines is considering cutting another 6,000 jobs, or about 10 percent of its employees, as it drafts a business plan designed to return the giant carrier to financial health, a published report says. Financial Times, citing unidentified sources, reported late Tuesday that the potential cuts are part of a new strategy that Chairman and Chief Executive Glenn Tilton intends to present to the company's board at the end of this month." (Rocky Mountain News) ---------------------------------------------------------- US Airways Sets Talks With Pilots on Further Cuts to Pension Plan <URL:http://www.nytimes.com/2004/09/01/business/01air.html?ex=1251691200&en=284875273455c6af&ei=5090&partner=rssuserland> http://www.nytimes.com/2004/09/01/business/01air.html?ex=1251691200&en=284875273455c6af&ei=5090&partner=rssuserland Excerpt: "US Airways and its pilots' union were set to meet last night, amid resistance within the pilots' ranks to the airline's bid to shrink their already diminished pension plan, a casualty of the airline's previous bankrup.tcy filing." (The New York Times; one-time registration required) ---------------------------------------------------------- The Future of Pension Plan Design (PDF) <URL:http://rider.wharton.upenn.edu/~prc/PRC/WP/WP2004-12.pdf> http://rider.wharton.upenn.edu/~prc/PRC/WP/WP2004-12.pdf Working Paper. David McCarthy. Excerpt: "In the thirty years since the introduction of the Employee Retirement Income Security Act, tremendous changes have taken place in the US private pension environment. Traditional defined benefit pension plans have been replaced with newer defined contribution-type arrangements. As the change matures, it is becoming clear that the problem of optimal pension scheme design has not been solved." (Pension Research Council) ---------------------------------------------------------- SEC: Investors Need More Time to Sue Under Sarbanes-Oxley <URL:http://money.cnn.com/2004/09/01/news/midcaps/sec_suits.reut/> http://money.cnn.com/2004/09/01/news/midcaps/sec_suits.reut/ Excerpt: "The Securities and Exchange Commission is urging a U.S. federal appeals court to give some investors more time to sue companies for fraud, a newspaper reported Wednesday. In a friend-of-the-court brief filed Tuesday, the agency urged making retroactive a provision of the Sarbanes-Oxley Act that would let investors revive some older claims, the Wall Street Journal said, citing court documents." (Reuters via CNNMoney) ---------------------------------------------------------- Delta, Pilots Start Talks on Pensions <URL:http://www.usatoday.com/travel/news/2004-09-01-delta-talks_x.htm> http://www.usatoday.com/travel/news/2004-09-01-delta-talks_x.htm Excerpt: "Salaries have gotten the headlines during the concession negotiations between Delta Air Lines and its pilots. But the carrier's pension funds are nearly as important." (The Cincinnati Enquirer via USA TODAY) ---------------------------------------------------------- Older Workers: Employment and Retirement Trends (PDF) <URL:http://rider.wharton.upenn.edu/~prc/PRC/WP/WP2004-11.pdf> http://rider.wharton.upenn.edu/~prc/PRC/WP/WP2004-11.pdf Working Paper. Patrick Purcell. Excerpt: "The number of people retiring each year affects the size of the labor force, which has a direct impact on the economy's capacity to produce goods and services. Other things equal, fewer retirements in any given year would result in a greater supply of experienced workers available to employers and fewer people relying on savings, pensions, and social security as their main sources of income." (Pension Research Council) ========================================================== Links To Items on Executive Comp, Benefits In General ---------------------------------------------------------- Executive Summary of the California Online Privacy Protection Act of 2003 <URL:http://www.bipc.com/news.cfm?mode=article&article_id=1084> http://www.bipc.com/news.cfm?mode=article&article_id=1084 Excerpt: "Effective July 1, 2004, California's 'Online Privacy Protection Act of 2003' or 'OPPA' (the 'Act') became law. The Act has important implications for all businesses that operate a commercial web site or online service.... Only websites or online services that collect personally identifiable information are subject to the new Act." (Buchanan Ingersoll PC) ---------------------------------------------------------- Opinion: New CEO Pay-Outsourcing Study Is Out of Bounds <URL:http://quote.bloomberg.com/apps/news?pid=10000039&refer=columnist_crystal&sid=aj3kB2RMyUDc> http://quote.bloomberg.com/apps/news?pid=10000039&refer=columnist_crystal&sid=aj3kB2RMyUDc Excerpt: "The more a chief executive officer outsources jobs, the higher will be his compensation. That's the conclusion of a study entitled 'Executive Excess 2004.' And my conclusion after examining the study's findings and doing my own analysis is that this study shouldn't be taken with several grains of salt. It should be taken with an entire box of salt." (Graef Crystal on Bloomberg.com) ---------------------------------------------------------- Hewitt Federal Legislation Quick Guide - August 31, 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) ---------------------------------------------------------- Integrating the HR Role with the New SEC Accelerated 8-K Filing Requirement (PDF) <URL:http://www.gcd.com/db30/cgi-bin/pubs/NewSECFilingRequirement.pdf> http://www.gcd.com/db30/cgi-bin/pubs/NewSECFilingRequirement.pdf Excerpt: "Although most public companies are aware that a number of their executive compensation agreements (such as employment agreements) fall within the scope of these new accelerated filing deadlines, there are a variety of HR-type contracts and arrangements which previously were reportable periodically or at year-end which now will be subject to the new accelerated reporting requirement." (Gardner Carton & Douglas) ========================================================== Newly Posted Events "Getting It Right" � Compliance Assistance Seminar For Plan Fiduciaries in Pennsylvania on October 15, 2004 presented by U.S. Department of Labor, Employee Benefits Security Administration (EBSA) <URL:http://benefitslink.com/events/detail.php?id=38681> http://benefitslink.com/events/detail.php?id=38681 Hot Topics in Employee Benefits in Georgia on September 16, 2004 presented by Worldwide Employee Benefits Network (WEB) - Atlanta Chapter <URL:http://benefitslink.com/events/detail.php?id=38679> http://benefitslink.com/events/detail.php?id=38679 Legality of Kickbacks Webcast Nationwide on November 18, 2004 presented by ASPA (American Society of Pension Actuaries) <URL:http://benefitslink.com/events/detail.php?id=38678> http://benefitslink.com/events/detail.php?id=38678 WEB New Jersey Chapter's Third Annual Health Care Summit in New Jersey on September 21, 2004 presented by Worldwide Employee Benefits Network (WEB) <URL:http://benefitslink.com/events/detail.php?id=38680> http://benefitslink.com/events/detail.php?id=38680 Post yours! http://benefitslink.com/events/eventmaint.php ========================================================== Newly Posted Press Releases Gilsbar, Inc. Expands Sales & Service Operations in the Southwest (Gilsbar, Inc.) http://benefitslink.com/pr/detail.php?id=38272 Post yours! http://benefitslink.com/pr/maint.php ========================================================== Newly Posted or Renewed Job Openings Retirement Plan Sales Consultant for Invesmart, Inc. in CT, IL, MA, MD, ME, MI, NH, NY, OH, RI, TX, VA, WI http://benefitslink.com/modperl/show_a_job.cgi?database_id=H39203 Retirement Services District Manager (So. Cal) for ADP Retirement Services in CA http://benefitslink.com/modperl/show_a_job.cgi?database_id=H39587 Health Care Consultant for Gabriel, Roeder, Smith & Company in MI http://benefitslink.com/modperl/show_a_job.cgi?database_id=H40400 Employee Benefits Recordkeeper/Tester for Wachovia Corporation in MN http://benefitslink.com/modperl/show_a_job.cgi?database_id=H40402 Pension Operations Assistant for PennRock Financial Advisors, N.A. in PA http://benefitslink.com/modperl/show_a_job.cgi?database_id=H40403 Product Manager - Retirement Development Group for National City in OH http://benefitslink.com/modperl/show_a_job.cgi?database_id=H40405 Marketing & Development Manager - Retirement Development Group for National City in OH http://benefitslink.com/modperl/show_a_job.cgi?database_id=H40407 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/
