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Category Archives: Industry News
IRS Extends DC Opinion/Advisory Deadline to April 2, 2012
It is rare that anything released by the IRS elicits a response of “We celebrate tonight!”, but it happened today with Announcement 2012-3. At 11:31am ET today, Dec. 22, 2011, the IRS extended the deadline to submit defined contribution opinion/advisory … Continue reading
Posted in Industry News, IRS
Tagged Announcement 2011-82, Announcement 2012-3, IRS, PPA Restatement
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ASPPA Issues ASAP on Multiple Employer Plans
On July 5, 2011, ASPPA issued an ASAP on Multiple Employer Plans. Within that ASAP, Advisory Opinion 83-15A is mentioned for the idea that: “The opinions take a limited view of associations that, in the DOL’s opinion, don’t have the … Continue reading
Posted in DOL, Industry News, Multiple Employer Plans
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Help Wanted: ERISA Attorney – The DOL is Hiring
The Dept. of Labor is looking for an ERISA attorney with 4 years of experience to work in the Plan Benefits Security Division. The job duties include working on ERISA enforcement litigation or regulatory projects, or a combination of both. … Continue reading
Posted in DOL, Industry News
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Have Ethics Presentation and Will Travel
One of my favorite ERPAs called today. He is a member of a small regional group of retirement plan professionals. The group has a non-existent budget for speakers, and everyone in the group needs ethics CE. They were wondering if … Continue reading
Free ERPA CE From the IRS
I love free ERPA CE, especially when it is hosted by the IRS. There is still time to register for the FREE hour-long webinar that the IRS is hosting on March 4, 2011 at 2pm ET. The IRS says it … Continue reading
Posted in Industry News, IRS
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Motorola Freezes Defined Benefit Plan and Ends 401(k) Match
In a sign of the times, Motorola announced that, effective March 1, 2009, it is freezing its defined benefit plan and, effective January 1, 2009, it will end matching contributions to its 401(k) plan. Motorola also announced that its co-CEOs … Continue reading
401(k) is Just a Number, not a Plan for Retirement
I’ve been blogging recently about defined benefit plans providing a more secure retirement than defined contribution plans, such as 401(k) plans. With Congress again discussing how to amend the tax code to provide a portable individual retirement plan for employees … Continue reading
Posted in Defined Benefit, Industry News
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Senate Passes Bailout Bill Loaded with Tax Provisions Including Bicycle Commuting Reimbursement
Yesterday, the Senate passed their version of the Bailout Bill. One item contained in the bill which caught my eye was a change to Code section 132(f) which will cause an almost immediate revision to our Qualified Transportation plan. As … Continue reading
Posted in Industry News, Legislation
11 Comments
Wall Street Journal on What Happens to Your Retirement Benefits after Bankruptcy
Mike Spector wrote a short article in the Wall Street Journal today about What Happens to Your Benefits After Bankrupcy. The article discusses the general differences between 401(k), defined benefit and cafeteria plans when the plan sponsor files for bankruptcy, … Continue reading
Posted in Industry News
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Some Tax Statistics and the $700 Billion Bailout Package
Over dinner on Saturday night, we started to wonder how much the bailout package meant for each person seated at the table. The Number = $5,227.12 How did we come up with this number? Being tax geeks, we decided that … Continue reading
Posted in Industry News
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