Compass
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AimPoint Pension
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Defined Benefit Combo Cash Balance Compliance Consultant Loren D. Stark Company (LDSCO)
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Loan & Distribution Specialist AimPoint Pension
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Regional Vice President of Sales The Retirement Plan Company
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Bates & Company, Inc.
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IRS Determination Letter Program for Qualified Retirement Plans to Be Significantly Curtailed
McGuireWoods [Guidance Overview] July 23, 2015 "Auditors, and investment managers and others who rely on a qualified plan's tax-qualified status, typically require representations from management that plans are 'in compliance,' in addition to requiring a copy of a favorable [determination letter (DL)]. Once such a DL is no longer available as to the current version of a plan, the plan sponsor may seek other ways of obtaining comfort that the form of its plan complies with the Code, such as requesting an opinion of counsel. In the mergers-and-acquisitions contest, sellers may need to use even greater caution in determining what representations and warranties they could make regarding the tax-qualified status of an individually-designed retirement plan. Similarly, purchasers may need to engage in greater due diligence as to the seller's qualified plans." |
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