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[Guidance Overview]
Tax Relief for Hurricane Irene Victims
"An affected taxpayer that receives a penalty notice from the IRS should contact the IRS using the telephone number listed on the penalty notice in order to request that any penalty or late interest charges be removed."
(McKay Hochman Co., Inc.)
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[Guidance Overview]
Court Approves Attorney Fees in ERISA Claim
"The U.S. District Court for the Western District of North Carolina ruled, an employee who previously won a claim to re-enter a service-based pension program after repaying a lump-sum distribution she had taken from the plan is entitled to receive repayment of over $161,000 in attorneys' fees."
(PLANSPONSOR.COM)
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The Hottest Ticket in Town! [Advert.]
ASPPA co-sponsors several regional conferences each year with the IRS to provide discussion opportunities with colleagues and local, regional and national government representatives from IRS and DOL. Check to see when we're coming to your region!
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California Governor's Pension Plan Explained
"Gov. Jerry Brown estimates his public pension reform plan would save the state $4 bil.lion to $11 bil.lion over 30 years and $21 bil.lion to $56 bil.lion over 60 years. Local government pensions also would have to comply and would save proportionately similar sums, the administration said Thursday."
(The Sacramento Bee)
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San Diego Firefighters Make Sizable Contributions to Retirement
"The average firefighter in San Diego contributes 15 percent of his or her take-home pay to a pension. In the state's most common retirement plan, the California Public Employees' Retirement System, public safety personnel pay a maximum of 9 percent."
(The San Diego Union-Tribune, LLC)
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Most 2010 Long Island Rail Road Retirees Got Disabled Pay
"A new report says more than half the Long Island Rail Road workers who retired last year claimed they were disabled on the job and were thereby entitled to a bigger pension. The New York Times reports . . . that nearly all those claims were approved."
(Star-Telegram.com)
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Yale Faculty Opt for Phased Retirement
"The phased retirement program announced last December replaced a similar program that had also reduced a professor's academic obligations by 50 percent, but only offered a 50 percent salary for three years . . . ."
(Yale Daily News)
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[Opinion]
Huffington Post's Slam on Annuities is Uninformed and Way Off Base, Says Columnist
"The article clearly illustrates a lack of understanding of the annuity marketplace and the challenges of generating lifetime retirement income. And it does a major disservice to the public by labeling annuities 'toxic' and believing that there's an 'annuity scam' being put in place by Congress."
(CBS Interactive Inc.)
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[Opinion]
California Governor Has Good Reasons to Push Pension Reform
"The public isn't going to give him more money until he and the Legislature convince the electorate that they can spend what they've already got more wisely. Voters have a long list of grievances and right near the top -- at least for those in the private sector -- are public employee pensions."
(Los Angeles Times)
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Benefits in General; Executive Compensation
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[Guidance Overview]
The Taxation Treatment of Employer-Provided Cell Phones
"The Small Business Jobs Act of 2010, Pub. L. No. 111-240, removed cell phones from the definition of listed property, which is subject to the strict substantiation requirements in order for the business use of such property to be excluded from income."
(Nexsen Pruet, LLC)
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Nonqualified Plans a Key to Recruiting and Retaining Senior Employees
"[Three critical features for a nonqualified plan can be cited]: If the company plans to match contributions or contribute other amounts, some part of that award must be deferred for retention purposes; the plan must have the potential for yielding a significant payout as a percentage of the executive's salary; and the plan must be clearly communicated to the executive."
(Workplace Management: free registration required)
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Employee Benefit Plan Action Items for 2012
"Now that the fourth quarter of 2011 has begun, employers should review their employee benefit plans for changes that are required or desirable later this year and in 2012. This summary briefly highlights key year-end and 2012 action items for employee benefit plans that an employer should consider when conducting its review."
(Sidley Austin LLP)
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Press Releases
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