Retirement Plans Edition
December 26, 2000
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IRS Defers Application of Nondiscrimination Regs to Nonelecting Church Plans and Some Gov't Plans
Excerpt: "[G]overnmental plans within the meaning of section 414(d), other than those maintained by State or local governments or political subdivisions ... shall be treated as satisfying the requirements of section 401(a)(4), 401(a)(26), 401(k)(3), and 401(m) until the first plan year beginning on or after January 1, 2002 ... [T]he regulations under sections 401(a)(4), 401(a)(5), 401(l), and 414(s) apply to nonelecting church plans only for plan years beginning on or after January 1, 2002." (Internal Revenue Service)
Mushrooming Costs of Japan's Aging Population
Excerpt: "In many ways, the Japanese, despite their reputation as big savers, may be in even worse shape to face their nation's changing demographics than either Europeans or Americans." (New York Times; free registration required)
Europe Rethinks Its Pensions
Excerpt: "[S]hifting demographics-- chiefly falling birth rates and increased longevity-- are squeezing government-run pension systems that tax workers to pay their elders. As the number of workers shrinks and the pool of pensioners grows, such plans are coming under strain." (New York Times; free registration required)
Social Security information now available on BenefitsLink's original source documents
The Employee Benefits Library now includes links to information on social security benefits, including retirement, disability, and Medicare. (BenefitsLink and Carol Calhoun's employee benefits site)
(Following also appears in Welfare Plans Edition)
Deloitte & Touche Publishes Survey of Year-End Pension and Retiree Medical Assumptions
Excerpt: "[T]he surveys provide insights into publicly traded corporations and their CFOs regarding the economic assumptions used in preparing the 1999 year-end pension (SFAS 87) and retiree medical (SFAS 106) footnote disclosures. All public entities in the United States who sponsor defined benefit pension plans and retiree medical programs are required by [GAAP] as established by [FASB] to include specific information with regard to these plans in their annual report ..." (Deloitte & Touche)
New issue online of the Pension & Benefits Update email newsletter by Tax Analysts: Dec. 22, 2000
IRA Distributions to Pay Property Division in Divorce Are Taxable; IRS Schedules Hearing on Proposed Regs on Qualified Plan Loans; Waiver of 100 Percent Excise Tax Granted; IRS Denies Approval for Retroactively Amended Plan; VEBA Scholarships Are Income Subject to Withholding, FICA; Divorce-Driven Change in IRA Periodic Payment Schedule Approved; Separate Reporting for Exercised Stock Options Is Optional in 2001; more. (Tax Analysts, Inc.--see www.taxbase.org)
Falling Market Demands Careful Investing
Excerpt: "Is this the bottom of the market? Is it time to step in and buy stocks? No one knows, so commentators cheerfully fill the void with guesses of their own." (Jane Bryant Quinn, in the Washington Post)
| Employee Benefits Tax Manager | for Deloitte & Touche, a Professional Services Firm in IL |
| Employee Benefit Tax Consultant | for Deloitte & Touche, a Professional Services Firm in IL |
| Project Director, Integrated Benefits Services | for Join one of America's Fastest Growing Privately Held Financial Services Firms in KY |
| 401(k) Administration Team Leader | for CACHE PENSION SERVICES, INC. in AK, NV |
| 401(k)/Pension Administrator | for Great Lakes Pension Administrators, Inc. in MI |
| Employee Benefits Tax Consultant / Detroit | for Deloitte & Touche, Leading Professional Services Firm in MI |
| Senior Retirement Marketing Specialist | for Strong Capital Management seeks Senior Retirement Marketing Specialist in WI |
| Senior Conversion Specialist | for Strong Capital Management seeks Senior Conversion Specialist in WI |
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