Pension Reporter System. Easy to use PC based software for EFAST2 electronic filing. Full instructions and expert support. Choose from 4 modules:
- Annual Reporting Series: EFAST2 5500-series, PBGC Premium-series, SAR + all schedules and attachments
- 1099-R Series: with related forms and 1099 electronic filing/Service Bureau
- Qualification & Termination: 5300/5310-series and PBGC 500/600-series forms
- FAS 132/158: Audit Letter, Worksheets, Schedules
or call (888) 324-2474
DOL Final Regulations on Timing and Order of Domestic Relations Orders
Excerpt: "These final regulations, like the interim version, don't deviate from the narrow Congressional directive under which they were created. But it is useful to have the DOL clarify that the general principles -- not the specific examples -- are what matter."
(Employee Benefits Institute of America)
CalSTRS Supports Two Reform Measures That Limit Controversial Pension Practices
Excerpt: "According to a press release, at its June 2010 board meeting last week, board members took a sponsor-if-amended position on SB 1425, a proposal that would control the practice of inflating retirement benefits, commonly known as 'spiking,' as well as 'double-dipping,' in which retired public employees immediately return to work."
Non-Health Factors Could Drive Early Retirement
Excerpt: "Poor health is the top reason why workers decide to take early retirement, but factors such as high work pressure and low job satisfaction also play a role. That was the conclusion of a new study in the June Journal of Occupational and Environmental Medicine, the official publication of the American College of Occupational and Environmental Medicine (ACOEM)."
Court Moves Forward Claims of Defaulted Participant
Excerpt: "A federal court judge has refused to dismiss claims by a 401(k) participant that plan fiduciaries breached their duties when they transferred his accounts into a new default fund."
New York State Plan Makes Pension Fund Both Borrower and Lender
Excerpt: "Gov. David A. Paterson and legislative leaders have tentatively agreed to allow the state and municipalities to borrow nearly $6 billion to help them make their required annual payments to the state pension fund. And, in classic budgetary sleight-of-hand, they will borrow the money to make the payments to the pension fund -- from the same pension fund."
(The New York Times; free registration required)
A Look Back at the Weird History of the ESOP
Excerpt: "Despite the fact that ESOPs rely for their justification on economic arguments rejected by mainstream economists, the tax subsidies . . . have left ESOPs a prominent feature, to this day, of the American retirement and tax system."
(Social Science Research Network)
New York: Pension Plan or Ponzi Scheme?
Excerpt: "'. . . Under the plan, the state and municipalities would borrow the money to reduce their pension contributions for the next three years, in exchange for higher payments over the following decade. They would begin repaying what they borrowed, with interest, in 2013.'"
California Lawmakers Do More Harm Than Good on Pension Spiking Issue
Excerpt: "[The] so-called reform bill, AB1987 -- which the Assembly passed on June 3 by a vote of 75-0 and sent to the Senate -- is a convoluted piece of legislation that will keep attorneys busy deciphering it and lock in most of the abusive tactics. Rather than close the loopholes, the bill would strengthen them."
(Contra Costa Times)
Senate Moves to Keep 401(k) Fees Hidden
Excerpt: "At a time when most Americans' retirement security relies on their own savings -- largely through 401(k) plans -- it seems high time to stop 'vetting' and start disclosing how much we're paying to retirement plan providers."
(CBS Interactive Inc.)
June 17-18, 2010 Chicago, IL
This is the first conference designed by ERPAS for ERPAS! A one of a kind program developed from topic suggestions by current and potential ERPAs to provide practical solutions to the issues they face, the ERPA Conference offers up to 10.5 ASPPA, ERPA, JBEA and NIPA CPE credits, Ethics CPE credit, access to top speakers from the IRS, and networking with colleagues and fellow ERPAs.
For more details and registration, visit www.erpaconference.org today!
Executive Compensation; Benefits in General
For Code Section 409A Compliance, Time of Payment Is Also Key
Excerpt: "When the IRS released the Code Section 409A document compliance correction guidance . . . some unexpected nuances were revealed, including one that caught many practitioners off guard -- getting the timing of a release and payment of deferred compensation to work together."
(Nelson Mullins Riley & Scarborough LLP)
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