Benefits February 20, 2004

EBSA, IRS Launch Small Biz 401(k) Booklet

February 20, 2004 (PLANSPONSOR.com) - Small businesses have a new resource to turn to for 401(k) information.
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The US Department of Labor’s Employee Benefits Security Administration (EBSA) and the Internal Revenue Service (IRS) have released “401(k) Plans for Small Businesses,” a new booklet issued as part of an ongoing effort to provide compliance assistance to small employers on retirement plan issues. The booklet provides an overview of this retirement savings option and what is involved in starting and operating a 401(k), according to a news release.

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Described in the booklet are the three types of 401(k) plan designs currently available – traditional, safe harbor or SIMPLE 401(k) plans – and discusses the features and advantages of each. Additionally, the booklet highlights choices small business owners have in setting up a 401(k) plan, including the type of plan to offer.

“It is crucial that we encourage small businesses to provide these valuable benefits to workers,” Assistant Secretary of Labor Ann Combs, said in a news release. “This publication draws a clear road map for employers who want to provide a plan, but need some friendly directions along the way.”

The new guide, “401(k) Plans for Small Businesses,” is available from EBSA’s toll-free number at (866) 444-EBSA and can be viewed on both the DOL and IRS Web sites at http://www.dol.gov/ebsa/publications/401kplans.html and http://www.irs.gov/retirement/article/0,,id=120298,00.html .

Products February 19, 2004

RAI, ACL Launch Multi-Manager CTA Portfolio

February 19, 2004 (PLANSPONSOR.com) - The REFCO Alternative Investments, LLC (RAI) and Abbey Capital Limited (ACL) team has launched a multi-manager futures fund.
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The fund is a Commodity Trading Advisor (CTA) portfolio that offers access to 11 managers who collectively provide diversification across time frames, countries, markets and styles.   The portfolio combines trend following CTAs with non-trend following CTAs that attempt to minimize correlations and create a more consistent return profile, according to a news release.

The fund opened with more than $40 million from institutional and high net worth investors in the United States, Europe, the Far East and Latin America.

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The offering is a product of a strategic alliance forged between RAI, the alternative asset management division of REFCO Group Ltd., LLC and ACL on November 6, 2003.   ACL is responsible for portfolio construction, manager selection and risk management whereas RAI defines which products should be created. The products are then distributed to the institutional and high net worth marketplace whereby RAI is responsible for investor services.   An independent, third party administrator prices each fund on a daily basis.

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