403(b) Plan Checklist

The IRS provides a compliance checklist for Section 403(b) plans. Document Excerpt  Every year it’s important that you review the requirements for operating your 403(b) retirement plan. Use this checklist to help you keep your plan in compliance with many of the important rules. For additional information (including examples) on how to find, fix and […]

2015 Inflation Adjusted Limits Including Section 125

Revenue Procedure 2014-61 contains non-retirement plan 2015 inflation adjusted limits. Document Excerpt This revenue procedure sets forth inflation-adjusted items for 2015.   Link http://www.irs.gov/pub/irs-drop/rp-14-61.pdf

PBGC Announces Maximum Guaranteed Benefits for 2015

  The PBGC has announced the maximum benefit level to be guaranteed by the PBGC for 2015.   Document Excerpt Maximum Guarantee: On October 27th, 2014, PBGC announced that the annual maximum guaranteed benefit for a 65-year-old retiree in a single-employer plan increases to $60,136 for 2015, up from $59,318 for 2014.  A table showing […]

2015 Premium Rates

The PBGC has updated its website to reflect the 2015 PBGC premium rates. Document Excerpt The per-participant flat premium rate for plan years beginning in 2015 is $57 for single-employer plans (up from a 2014 rate of $49) and $13 for multiemployer plans (up from a 2014 rate of $12). For information about future rates, […]

Information Letter on Use of Target Date Funds for Lifetime Income

In conjunction with the IRS’ release of Notice 2014-66, the Department of Labor has issued an Information Letter discussing the implications of using a series of target date funds to provide lifetime income from a defined contribution plan. Document Excerpt This responds to your request for the Department of Labor’s (the Department) views on whether […]

Lifetime Income through Target Date Investments

Notice 2014-66 provides guidance on the provision of lifetime income in a defined contribution plan through investment in a series of target date investment options. Document Excerpt This notice provides a special rule that enables qualified defined contribution plans to provide lifetime income by offering, as investment options, a series of target date funds (TDFs) […]

2015 Benefits Limitations

The IRS has released updated benefit limits for 2015 taking into consideration cost of living increases. 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 2015. Many of the pension plan limitations will change for 2015 because the increase in the […]

Guidance on HAFTA and 4010 Reporting

Technical Update 14-2 provides guidance on the effect of HAFTA on 4010 reporting. Document Excerpt This Technical Update 14-2 provides PBGC guidance on the effect of the Highway and Transportation Funding Act of 2014 (HATFA) on annual financial and actuarial information reporting under section 4010 of ERISA and part 4010 of PBGC’s regulations.1  This Technical […]

November Lump Sum Rate

The PBGC announces the November lump sum interest rate. Document Excerpt The immediate interest rate for valuing lump sum payments for the month of November 2014 is 1.25% and the deferred interest rate I1 is 4.00%, I2 is 4.00%, and I3 is 4.00%. Link http://pbgc.gov/prac/interest/monthly.html?cid=COLA01ABOCT1520141&source=govdelivery&utm_medium=email&utm_source=govdelivery

Affordable Care Act Implementation Part XXI

The DOL releases the Affordable Care Act Implementation Qs & As Part XXI. Document Excerpt Set out below is an additional Frequently Asked Question (FAQ) regarding implementation of the Affordable Care Act. This FAQ has been prepared jointly by the Departments of Labor, Health and Human Services (HHS), and the Treasury (collectively, the Departments). Like […]

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