401K Advisor articles from May 2002

401K Advisor archives from May 2002

Legislation impacts small business unexpectedly.(Pension Security Act of 2002)(Brief Article)
May 1, 2002... Congress has rolled out its heavy artillery to blast away any possibility for a repeat of the Enron mess. Backed by a heavy media blitz, the proposed legislation is designed to avoid other 401(k) participants, in large and small plans, from...

Social security--how big a benefit?(small businesses may want to put working spouse on payroll)(Statistical Data Included)
May 1, 2002... With the changes in EGTRRA increasing the maximum amounts that can be contributed in a qualified plan to the lesser of 100 percent of pay or $40,000, a large number of small family business owners are reconsidering a prior decision to not pay...

ERISA fiduciary status and employee benefits professionals. (Document Update).(Employee Retirement Income Security Act of 1974 )
May 1, 2002... Fiduciary liability is a crucial part of the Employee Retirement Income Security Act of 1974 (ERISA) and insures the act's main goal of protecting employee benefits. Current trepidation surrounding monumental losses of retirement plan assets...

Mutual fund expenses: through the looking-glass: part II. (Investment Corner).
May 1, 2002... How would you like to live in Looking-Glass House, Kitty?... You can just see a little peep of the passage in Looking431ass House... and it's very like our passage as far as you can see, only you know it may be quite different on beyond....

Stock-related issues after Enron: from an interview with Forrest Dupre. (Q & A).(vice president and commercial trust product line manager for the Marshall and Ilsley Company)(Interview)
May 1, 2002... Congress is already in the process of enacting legislation that will allegedly protect investors and plan participants from the stock-related abuses surrounding Enron's bankruptcy. This month we talked with Forrest Dupre, vice president and...

Changes in Department of Labor delinquent 5500 program. (Matthews on 401(k)).(IRS will not impose penalties for late Form 5500 filers that use DOL DFVC)(Brief Article)
May 1, 2002... The IRS has announced (Announcement 2002-31) that it will not impose penalties for late Form 5500 filers that use DOL's DFVC Program. Currently, the IRS does not have a late filer correction program that follows the DOL's program. As a...

Final regulations for calculating minimum distributions. (Matthews on 401(k)).(IRS final regulations)(Brief Article)
May 1, 2002... On April 17, 2002, the IRS released final regulations on calculating required minimum distributions for 2003 and later years. The final regulations apply to the minimum distribution requirements for qualified plans, IRAs, section 403(b)...

Changes in 1099-R and 5498 instructions.(revised and reposted on February 25, 2002)(Brief Article)
May 1, 2002... The IRS has alerted practitioners on changes to 2002 Forms 1099-R and 5498 Instructions. The notice was posted on the IRS Web site on April 5, 2002. The IRS warned that instructions for the 2002 Forms 1099-R (Distributions From Pensions,...

Regulatory and judicial update.(taxation of Canadian source retirement benefits paid to U.S. citizens or residents)(Brief Article)
May 1, 2002... REGULATORY AND JUDICIAL UPDATE Item Statement U.S.-Canadian The IRS has updated the taxation of Canadian source income tax retirement benefits paid to U.S. citizens or residents. convention amended An...

Unusual year produces unusual results in executive compensation: with corporate profits down in 2001, CEO cash compensation followed suit. (Industry Insights).(trends in executive compensation)(Brief Article)(Statistical Data Included)
May 1, 2002... New York, 11 April 2002 In a year marked by economic turmoil, terrorist attacks, and corporate scandal, U.S. corporations took some unusual steps in compensating their top executives, according to the 2001 CEO Compensation Survey...

DOL opinion authorizes investment advice for 401(k) participants. (Last Word On 401(k) Plans).(employers may hire investment managers to give risk advice)(Brief Article)
May 1, 2002... The problems with Enron have left the government searching for ways to ensure that future participants do not face similar losses of their retirement savings. One of the key factors causing the huge losses for Enron participants was that...