Retirement Plans Edition
October 18, 2000
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IRS Issues Proposed Regulations That Would Require Benefit Trusts To Be Controlled By A U.S. Person
Excerpt: "[SBJPA and TRA '97] amended IRC Sec. 7701(a) by establishing objective criteria for determining whether a trust is a 'domestic trust' for federal tax purposes. The new definition of a 'domestic trust' in Sec. 7701(a) includes employee benefit trusts, including individual retirement account-based SIMPLE plans and Roth IRAs.... [The IRS has] issued proposed regulations that would require ... U.S. trustees controlling all of the substantial decisions made by the trustees." (Spencernet)
IRS Releases Proposed Regulations on New Comparability (Cross-testing) Plans
(Sungard Corbel)
Finding Lost 401(k) Money May Take Serious Sleuthing
Excerpt: "Tracking down an old 401(k) account or getting a former employer to cough up your beneficiary benefits can be tough. But, with a little persistence and ingenuity you can get the benefits that are rightfully yours. Even a small balance is worth hunting down. A few thousand invested in a 401(k) plan a decade ago may be a tidy sum today." (401Kafe.com)
Social Security Benefits To Rise 3.5% Next Year, Due to COLA
(Social Security Administration)
(Following also appears in Welfare Plans Edition)
Graef Crystal: Soul Food in Seattle? CEOs Cite a Role Model
Excerpt: "[Professor George H.] Ball may not have been the sole influence shaping [CEOs John] Stanton, [Peter] van Oppen or even his daughter. Still, how often do you find one person battling for good corporate governance, two others trying to put those notions into practice -- and all three pointing to the same person as their role model? Perhaps someone could arrange for Ball to be the headliner at the next meeting of the Business Roundtable, the top-drawer group of major company CEOs." (Graef Crystal, on Bloomberg.com)
| Interim Benefits Administrator | for Leading Telecommunications Firm in NJ |
| Assistant Relationship Manager | for INVESCO Retirement Plan Services- Denver, CO in CO |
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