[Guidance Overview]
PBGC's Annual Premium Penalty Relief (PDF)
"The relief provides a seven-day cushion for timely premium payments. It also addresses concerns that have been raised with respect to penalties attributable to the method used to calculate variable rate premium payments."
(Groom Law Group)
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[Guidance Overview]
New DOL Guidance on Electronic Disclosures
"The new interim policy on electronic disclosures expressly states that it applies only to the new fiduciary disclosure rules. Plan administrators should not rely on it for other purposes, but additional guidance is forthcoming."
(Ballard Spahr LLP)
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[Guidance Overview]
Hardship Distributions from Designated Roth
"[T]he final regulations state that if a hardship distribution of designated Roth amounts is actually taken before the qualified distribution rules are satisfied, it would be taxed as if it consisted of pro rata amounts of after-tax Roth contributions and earnings."
(McKay Hochman Co., Inc.)
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[Guidance Overview]
What Accounts Are Considered by IRS and DOL To Be in a 403(b) Plan?
"Since the 403(b) termination guidance creates a 403(b) contract that exists outside of an employer plan, the rules for what accounts are in the plan need to be revisited. [This] is an article on what accounts are considered part of the employer's plan for IRS purposes and what are considered part of the plan for DOL Form 5500 filing purposes.'
(McKay Hochman Co., Inc.)
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Participant Advice, Retirement Income & New Growth Strategies [Advert.]
CFDD ’11, Participant Advice, Retirement Income & New Growth Strategies, is the premier education and networking event for the retirement plans advisory industry. Unmatched Advisor Attendance, Content & Value. Register Now & Win A Trip To LasVegas!
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401(k) Savings Proposal Gets Cold Shoulder from Senate Committee Hearing Panel
"At the center of the testimony . . . was a proposal offered by William G. Gale, director of the Retirement Security Project at the Brookings Institution, to create a saver's credit, or matching government contribution, into taxpayers' retirement savings accounts, eliminating the tax exemption for contributions to employer-based accounts."
(Pensions & Investments; free registration required)
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What's So Automatic About Auto Enrollment?
"When adding an automatic enrollment design to your plan, you must choose which type of arrangement you wish to have, in writing, within your document."
(Milliman, Inc.)
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Should Target Normal Cost Include Investment Expenses?
"The American Academy of Actuaries thinks No, and I'm inclined to agree. The Pension Protection Act generally requires defined benefit (DB) plans to pay a minimum contribution each year that is comprised of two parts, namely (1) the target normal cost and (2) a shortfall amortization."
(Milliman, Inc.)
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Philadelphia Council Keeps DROP, Overriding Mayor
"Council's legislation would reduce the program's cost by bumping up the retirement age for non-uniformed employees. It also would reset the interest rate on payments into DROP accounts from a guaranteed 4.5 percent to the rate on one-year Treasury bonds for employees who qualify for DROP more than 90 days after the bill becomes law."
(Philly.com)
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Fine-Tune a 401(k) or IRA, and Cut Costs
"The first leg of an overhaul should be to examine your account for often-hidden internal expenses. There may be layers of middleman fees that you can eliminate simply by changing vendors."
(The New York Times; free registration required)
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The Risks of Investing Like the Big Pension Funds
"Certainly, 401(k)s and traditional defined-benefit plans have much in common because both are long-range investments. Yet the two pools of money are significantly different in size, in the diversity of recipients, in payment schedules and in legal requirements."
(The New York Times; free registration required)
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A Two-Step Plan That Strengthens Your Nest Egg
"In a study looking at household total net wealth from $349,000 to $1.5 mil.lion, the Government Accountability Office found that 'delaying Social Security payments and buying an annuity' maximizes retirement income for nearly every income group."
(The New York Times; free registration required)
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State of U.S. Employee Retirement Preparedness (PDF)
"Employees ARE increasingly focusing on retirement planning, and taking action to improve their preparedness, now that many have built a more solid financial foundation after the recession by cutting unnecessary expenses, reducing debts, and establishing an emergency savings fund."
(Financial Finesse, Inc.)
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[Opinion]
Retirement and the Market Sell-Off
"When the stock market sells off, as it did in late July and early August, there is an inevitable surge in commentary on the riskiness of U.S. retirement accounts. The main worry is that retirement investors are taking on too much risk and that retirement assets should be invested in 'safer' securities or programs."
(The Vanguard Group, Inc.)
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[Opinion]
ASPPA Testimony Submitted to Hearing on Tax Reform Options: Promoting Retirement Security (PDF)
"[T]he current tax incentives are working very well to promote retirement security for millions of working Americans. Modest changes can and should be made to expand coverage, but care should be taken to preserve and enhance the basic framework of the current incentives that motivate employers to sponsor retirement plans, and both employers and employees to contribute to these arrangements."
(U.S. Senate Committee on Finance)
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Benefits in General; Executive Compensation
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[Guidance Overview]
IRS Eases Cell Phone Substantiation for Employers
"'Heightened substantiation requirements that apply to listed property no longer apply to cell phones for taxable years beginning after Dec. 31, 2009,' because cell phones—and similar devices—are no longer listed property under Code Section 274(d) . . . ."
(SmartHR)
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[Guidance Overview]
Guidance Issued on Tax Treatment of Business Cell Phones
"The IRS says that the value of the business use of an employer-provided cell phone is excludible from an employee's income as a working condition fringe to the extent that, if the employee paid for the use of the cell phone, the employee would be able to deduct such payment as a trade or business expense under section 162."
(American Institute of Certified Public Accountants)
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Public Companies Need to Review Equity Compensation Arrangements ASAP
"If a company is public or is going public, it needs to review its equity compensation arrangements now. These companies need to determine whether they need to amend these arrangements or take other actions to eliminate or reduce potential negative tax impact."
(Porter Wright Morris & Arthur LLP)
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More Reasons that Shareholder Say on Pay is Still Critical for the 2012 Proxy Season
"[Five more reasons (in addition to avoiding a lawsuit . . .)] why preparing for SSOP is just as critical in 2012 as it was it 2011 and, despite the fact that the vast majority of companies received a significant majority vote 'For' their Shareholder Say on Pay (SSOP) resolutions in 2011, we need to again focus on SSOP for the 2012 proxy season."
(Michael S. Melbinger via Winston & Strawn LLP)
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Employee Ownership Update for September 15, 2011
NCEO Executive Director Loren Rodgers discusses the NCEO's new Equity Compensation Report, the first ESOP in the legal recruiting and staffing field, BNA's acquisition by Bloomberg, discounted CEP registrations, E*Trade's private company forum, and a cover story on employee-owned Austin Industrial.
(National Center for Employee Ownership)
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Press Releases
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