Benefits Forward

The DOL has released a Fact sheet discussing the impact on plans of a plan sponsor’s bankruptcy.

The PBGC issues Technical Update 09-1 providing guidance on the reportable events requirements in light of changes made by the Pension Protection Act of 2006.

Special Edition of the IRS’ Information for Sponsors of Retirement Plans discusses how the Worker, Retiree, Employer Recovery Act of 2008 impacts 2009 required minimum distributions.

The recently enacted Worker, Retiree, Employer Recovery Act of 2008 permits participants in defined contribution plans as well as IRA owners to forgo the required minimum distribution attributable to 2009. The IRS has now issued guidance to financial institutions as to their reporting obligations.
Document Excerpt

This notice provides guidance to financial institutions on reporting required minimum [...]

The IRS issues Notice 2009-02 providing guidance on the corporate bond weighted average interest rate and the permissible range of interest rates under § 412(b)(5)(B)(ii)(II) as in effect for plan years beginning before 2008.

IRS issues Notice 2009-08 providing guidance on recently effective Section 457A.

IRS releases 2009 Employer’s Tax Guide to Fringe Benefit publication.

A controlled group that maintains only one top hat plan need only file a single registration statement under ERISA’s alternative reporting requirement for such plans.

DOL finalizes regulations on procedures for assessing civil penalties for disclosure failures under ERISA Section 502(c)(4) as amended by the PPA.

PBGC announces publication of Pension Insurance Data Book 2007 containing statistical information on defined benefit plans.