Pension Protection Act Blog

This week in the Employee Benefits world:
Michael Hoes of the ERISA Class Action Watch discusses Miscellaneous 401(k) Fee Updates.
Broc Romanek of the TheCorporateCounsel.net Blog posts about Clawbacks and Careful Drafting, discussing a recent court decision about a corporation seeking return of compensation paid under a non-ERISA stock equity plan.
Barry Barnett of the Blawgletter provides […]

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Friend of mine had a good question today from an accountant, who wanted to know if there is any penalty for filing Form 5500 with just a little bit of incorrect information.
Congress answered this question with 28 U.S.C. 1027, and the 9th Circuit Court of Appeals provides a pretty unequivacal explanation of how […]

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The Treasury Dept. released Final Regulations Governing Practice Before the Internal Revenue Service today. These final regs update Circular 230 in a number of important ways, including establishing an enrolled retirement plan agent designation effective Sept. 26, 2007. Enrolled retirement plan agents (ERPAs) will be required to take an exam and will be […]

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The IRS published the Fall 2007 Edition of Employee Plan News today. Within this edition, the IRS confirms that the target date for issuing the EGTRRA opinion/advisory letters to pre-approved prototype and volume submitter plans is March 31, 2008.
This date is important because it kicks off the two-year restatement period in Rev. Proc. 2005-66 […]

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This week in the Employee Benefits world:
Colin Servis of the Innovest Blog republishes as article by Brad Brewer about Fiduciary Responsibilities and Opportunities, originally published in the August 2007 issue of the CPA Journal.
Jerry Kalish of The Retirement Plan Blog provides Tax Deduction for ESOP was Twice as Nice in IRS Private Letter Ruling.
Roy F. […]

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Free ERISA. I didn’t know ERISA was in jail.
- Andrew Zuckerman, responding to a question about why the IRS sent out letters from Odgen, Utah, requesting plan sponsors provide a copy of Form 5500 for 2004 as the IRS believes the plan sponsor did not file a 5500 for 2004 when a copy of […]

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Today, the IRS issued Announcement 2007-90. It states that on December 18, 2007, the IRS will temporarily stop accepting applications for determination letters for defined contribution plans that are filed on Form 5307. The Service states that this temporary hiatus is to allow them to prepare to receive EGTRRA applications.
The IRS will process […]

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Earlier this week, I posted about an announcement by the American Society of Pension Professionals & Actuaries (ASPPA) that Treasury officials have informed Congress that they will enforce the new PPA combined plan deduction limits under Internal Revenue Code section 404(a)(7) in accordance with the language in the proposed PPA technical correction legislation (H.R. 3361 […]

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ASPPA announced on Friday that Treasury officials informed Congress yesterday that they will enforce the new PPA combined plan deduction limits under Internal Revenue Code section 404(a)(7) in accordance with the language in the proposed PPA technical correction legislation (H.R. 3361/S.1974). Q&A 9 of Notice 2007-28 will not be enforced and, in a defined […]

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This week in the Employee Benefits world:
Mitchell H.Rubinstein of the Adjunct Law Prof Blog briefly summarizes the recent 8th Circuit opinion in Health Plan Entitled to Restitution under Plan’s Subrogation Clause.
Stephen Rosenberg of the Boston ERISA & Insurance Litigation Blog provides The First Circuit’s Road Map for Terminating Benefit Plans.
Roy F. Harmon III of the […]

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