403(b) Checklist

The IRS has issued a 403(b) Checklist which sponsors can use as a quick tool to assist in testing for overall compliance. The Checklist does not purport to be comprehensive. Document Excerpt  It is important to review the requirements for operating your 403(b) retirement plan annually.This checklist is a “quick tool” to help you keep your […]

IRS Handout for Annuitization Presentation

The IRS has released its Power Point presentation for its annuitization telephone forum. Document Excerpt  General update   Background Revenue Ruling 2012-3 Proposed QLAC regulations Revenue Ruling 2012-4 Proposed 417(e) regulations Link http://www.irs.gov/pub/irs-tege/lifetime_annuity_phoneforum_presentation.pdf

2013 Pension Limits

The IRS releases the limits for various benefit provisions for 2013. Document Excerpt The Internal Revenue Service today announced cost of living adjustments affecting dollar limitations for pension plans and other retirement-related items for Tax Year 2013. In general, many of the pension plan limitations will change for 2013 because the increase in the cost-of-living […]

DOL Offers Webcast On Affordable Care Act

The DOL is offering a webcast on the Affordable Care Act. Document Excerpt You have probably heard about the Affordable Care Act or health reform, but do you know how it will impact your health coverage?  The Affordable Care Act (ACA) has numerous protections to help improve health coverage for you and your family – […]

Farm Credit Administration Regulations Requiring Compensation and Pension Disclosure

 The regulations require disclosure of pension benefit and supplemental retirement plans and a discussion of the link between senior officer compensation and performance. Document Excerpt The Farm Credit Administration (FCA, us, we, or our) amends our regulations for Farm Credit System (System) banks and associations to require disclosure of pension benefit and supplemental retirement plans […]

Self Employed May Deduct Medicare Premiums

Chief Counsel clarifies the IRS’ position on the deductibility of Medicare premiums by the self employed. Document Excerpt Medicare is insurance that constitutes medical care under section 162(l). Therefore, all Medicare premiums are similar to other health insurance premiums and can be used to compute the deduction under section 162(l). This rule also extends to […]

Joint Fund Not an ERISA Plan

In response to a request for an advisory opinion, the DOL rules that a joint laborer’s fund is not an ERISA benefit plan. Document Excerpt This is in reply to your request for an advisory opinion regarding the applicability of Title I of the Employee Retirement Income Security Act of 1974 (ERISA). Specifically, you ask […]

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