The Journal of Pension Planning & Compliance articles from June 2004

The Journal of Pension Planning & Compliance archives from June 2004

Editor's note.(Forfeitability of benefits in top-hat plans)
June 22, 2004... Here today, gone tomorrow; this principle is illustrated in the analysis of forfeiture provisions by the courts in two interesting decisions. In Spitz v. Berlin Industries [1994 WL 194051 (N.D. Ill. 1994)], a provision in a top-hat plan that...

Retirement savings and household wealth: a summary of recent data.
June 22, 2004... Pension analysts refer to Social Security, employer-sponsored t retirement plans, and personal savings as the "three-legged stool" of retirement income, but for many workers at least one of the legs is missing. Many workers fail to save...

Retirement Savings Accounts: a summary of the President's budget proposal.
June 22, 2004... The President's proposed budget for FY2005 would establish Lifetime Savings Accounts (LSAs) that could be used for any type of saving and from which withdrawals could be made at any time, and Retirement Savings Accounts (RSAs) that could be...

The individual 401(k) plan.
June 22, 2004... The Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA) brought forth sweeping pension reform. By now, most of us are familiar with the laundry list of changes made by EGTRRA and are in the process of incorporating them into...

Needed prescription for reduced health care costs.
June 22, 2004... To combat ever-increasing health care costs, an innovative tool, which can be utilized by employers offering medical benefits, is a wellness program. The results are win-win for both employee and employer. The employee gains education and an...

ERISA plan assets held in annuity may not be protected in bankruptcy.
June 22, 2004... Rhiel v. Adams (In re Adams), (1) A new Sixth Circuit decision holding that Section 403(b) plan assets are not protected in bankruptcy because they are held in an annuity and not a trust, raises potentially serious implications for plans...

Should qualified plans buy life insurance?
June 22, 2004... Qualified pension and profit sharing plans in general have for decades been allowed to invest in life insurance or to provide "incidental death benefits." (1) At the extremes, Section 412(i) plans exist solely to fund retirement plans with...