Monthly Archives: October 2007

Two Helpful Charts to PPA Guidance

Posted on October 29, 2007 by Administrator

Today, the IRS published two helpful charts to the Pension Protection Act. The first chart, sorted by Code section, lists the Code section, PPA section, and the guidance published so far about that PPA section. The second chart, sorted by … Continue reading →

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Savings Clause Now Disregarded in Deferred Comp Plans

Posted on October 25, 2007 by Administrator

Trends come and go in writing plan documents. The hottest trend over the last year, especially for non-qualified deferred compensation plans, has been to include a savings clause when writing plan documents or amendments. David E. Morse, of K & … Continue reading →

Posted in Final 409A Regs, IRS, Nonqualified Deferred Comp | Leave a comment

Effective Christmas Eve, New Default Investment Alternatives Regulations Answer Automatic Enrollment Questions

Posted on October 24, 2007 by Administrator

One of the big automatic enrollment questions was answered today with the release of the Final Regulations on Default Investment Alternatives Under Participant Directed Individual Account Plans. Plans have been permitted to automatically enroll employees in 401(k) plans for years. … Continue reading →

Posted in 401(k), Investments | Leave a comment

Compliance with the Final 409A Regs Extended Again

Posted on October 22, 2007 by Administrator

In unequivocal terms today, the IRS extended the deadline to comply with the new Final 409A Regulations from December 31, 2007, to December 31, 2008, for most provisions of these regulations. In Notice 2007-86, the IRS states that the transition … Continue reading →

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Blogging About ERISA – Carnival #18

Posted on October 21, 2007 by Administrator

This week in the Employee Benefits world: Mark Toma of the Economist’s View blog writes about the proposal to allow financial firms to buy out frozen pension funds in Pension Funds Buyouts. Roy F. Harmon III of the Health Plan … Continue reading →

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IRS Releases Annual Dollar Limitations for 2008

Posted on October 18, 2007 by Administrator

The IRS released IR-2007-171 today, containing the annual dollar limitations for 2008. There are no surprises on this list. The IRS posted the complete list of annual dollar limits from 2001 through 2008. [tags]pension protection act, ppa, 2007-171, annual dollar … Continue reading →

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9th Circuit Decides Plan Language Controls

Posted on October 16, 2007 by Administrator

The 9th Circuit provides a good reminder about carefully writing plan restatements in Shane v. Albertson’s Inc, No. 05-56319 (Oct. 15, 2007). Stacey Shane was employed by Albertson’s, and was a participant in Albertson’s Disability Plan, when she suffered a … Continue reading →

Posted in Cafeteria Plans, Litigation | Leave a comment

2007 Weblog Awards Close on Wednesday

Posted on October 15, 2007 by Administrator

Nominate your favorite tax blog here by nominating it as one of the best law blogs (there isn’t a category – yet – for tax blogs). Nominations for Best Law Blog close on Wednesday, October 17, 2007. To add your … Continue reading →

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Benefit Statement Deadline Changed for Non-Participant Directed Accounts

Posted on October 15, 2007 by Administrator

The Dept. of Labor has updated Field Advisory Bulletin 2006-03. FAB 2006-03, issued last year, requires that pension benefit statement information will be furnished to participants and beneficiaries not later than 45 days following the end of the calendar quarter … Continue reading →

Posted in Quarterly Benefit Statements 508 | Leave a comment

IRS Issues Guidance on Code section 430

Posted on October 10, 2007 by Administrator

The IRS released Notice 2007-81, which provides guidance on the corporate bond yield curve and the segment rates required to compute the funding target and other items under Code section 430. This notice implements changes made by sections 101, 102, … Continue reading →

Posted in Defined Benefit, IRS | Leave a comment