New Field Assistance Bulletin on ERISA Bonding Requirements

A new Field Assistance Bulletin has been released by the DOL addressing, in Q & A form, many ERISA bonding issues.

New Cumulative List of Plan Changes

The IRS releases the new Cumulative List of Plan Qualification Changes used to determine the qualified status of plans submitted during the upcoming determination letter cycle.

Final Rule Implementing Section 506 of the Pension Protection Act

The PBGC has issued a final rule implementing the disclosure obligations of Section 506 of the Pension Protection Act of 2006.

Temporary Extension of Money Market Guarantee Program

The Treasury has annnounced an extension of its Temporary Guarantee Program for Money Market Funds until April 30, 2009 to support ongoing stability in this market.

Cities Ask for Bailout Funds for Pensions and other Costs

The Mayors of Atlanta, Philadelphia and Phoenix have written to the Treasury Secretary requesting that the Federal government’s bailout funds be used in part to provide assistance directly to cities to help defray such costs as the cities’ pension and other costs.

Fall Retirement News for Employers

Fall, 2008 Retirement News for Employers is released by the IRS and includes a discussion of various types of participant withdrawals including hardships and loans during these tough economic times.

Senator Max Baucus’ Health Care Reform White Paper

Senate Finance Committee Chairman, Matt Baucus, releases his Whitepaper on health care reform.

Letter from ERIC and Over 300 Companies Requesting Funding Relief

Letter from ERIC and over 300 large companies requesting funding relief.

Deduction of Medical and Dental Cost by an Accrual Basis Taxpayer

In a Technical Advice Memorandum, the National Office of the IRS concludes that an accrual basis taxpayer maintaining a self-insured health plan that pays for the medical services more than 2 1/2 months after the end of the taxable year in which the services are provided, may deduct the payments in its taxable year during which the medical and dental services are provided to the taxpayer’s employees.

Various Federal Interest Rates Released

The IRS releases guidance setting forth various interest rates including the rate to be used for purposes of the Federal mid-term interest rate.

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