Military Relief Under the HEART Act:: Year-End Plan Amendments Needed
Excerpt: "[IRS] Notice 2010-15 provides much-needed guidance on the proper interpretations of the key pension provisions, in question-and-answer format. Importantly, it clarified that plan amendments are needed by the end of the 2010 Plan Year (2012 Plan Year for governmental plans), but no sample amendments are included in the guidance."
(Groom Law Group)
FASB Proposal Regarding Multiemployer Defined Benefit Plans
Excerpt: "On April 14, 2010, the Financial Accounting Standards Board (FASB), which has authority to modify GAAP, had a public meeting at which it tentatively decided to require employers contributing to multiemployer defined benefit pension plans to disclose in their notes to their financial statements further quantitative and qualitative information about their participation in such plans."
ASPPA co-sponsors several regional conferences with the IRS to provide you opportunities to discuss employee benefits issues with colleagues, local, regional and national government representatives from IRS and the US Department of Labor, and private sector experts. The programs focus on exchanging information and educating attendees about current regulatory, legislative, administrative and actuarial topics.
Find out when we’re coming to your town here.
Executive Compensation; Benefits in General
Top 10 Tips for the New Form 5500 Electronic Filing Requirement
Excerpt: " EFAST (the version of the U.S. Department of Labor's electronic filing program that was implemented prior to EFAST2) will overlap with EFAST2 for six months and will continue to accept electronic filings through June 30, 2010. The following are the top 10 things you should know about filing your Form 5500 using EFAST2 . . . ."
(McDermott Will & Emery)
U.S. Supreme Court Hears Oral Arguments in ERISA Fees Case
Excerpt: "In Hardt v. Reliance Standard Life Insurance Co., the court heard arguments on whether § 502(g)(1) of [ERISA] provides a district court discretion to award reasonable attorney's fees only to a prevailing party, and whether a party is entitled to attorney's fees when she persuades a district court that a violation of ERISA has occurred, successfully secures a judicially-ordered remand requiring a redetermination of entitlement to benefits, and subsequently receives the benefits sought on remand."
6 Ways Couples Can Maximize Social Security Payouts
Excerpt: "Couples who are currently married, or who have stayed together at least 10 years, tie their working records -- and the resulting Social Security checks -- together as long as they both live. In the case of Social Security payments, the result is often better for the couple."
(U.S. News & World Report)
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