Retirement Plans Newsletter
October 1, 2009
\ Compliance \ Costs \ Administration \ Design \ Policy
ASPPA
(Advert.)
Attention all Retirement Plan Professionals!
The 2009 ASPPA Annual Conference (November 1 ? 4) is bigger and better than ever. Join 1,600 of your peers at the exquisite Gaylord National Resort and Conference Center on the historic Potomac River. Take advantage of over 60 interactive workshops presented by nationally renowned experts and top practitioners from all facets of the retirement plan industry, including representatives from the IRS and DOL. Advance your knowledge. Enhance your credibility. Expand your network of like-minded professionals! This is the industry?s top venue for all retirement plan professionals - - with up to 24 hours of ASPPA CE credit, ERPA CPE credit and core/non-core JBEA credit hours for Enrolled Actuaries, including professionalism credits. In this rapidly changing environment, it?s never been more important to attend. Register today and stay at the top of your game!
Attention all Retirement Plan Professionals!
The 2009 ASPPA Annual Conference (November 1 ? 4) is bigger and better than ever. Join 1,600 of your peers at the exquisite Gaylord National Resort and Conference Center on the historic Potomac River. Take advantage of over 60 interactive workshops presented by nationally renowned experts and top practitioners from all facets of the retirement plan industry, including representatives from the IRS and DOL. Advance your knowledge. Enhance your credibility. Expand your network of like-minded professionals! This is the industry?s top venue for all retirement plan professionals - - with up to 24 hours of ASPPA CE credit, ERPA CPE credit and core/non-core JBEA credit hours for Enrolled Actuaries, including professionalism credits. In this rapidly changing environment, it?s never been more important to attend. Register today and stay at the top of your game!
[Guidance Overview]
IRS Announces It Will Allow Single-Employer Pension Plans to Switch their Interest Rate Election for Determining Liabilities in 2010
Focuses on recent, good news from the Internal Revenue Service (IRS): a September 25 announcement that announced that final regulations will provide automatic approval for a new interest rate election for the 2010 plan year. The Compliance Alert is of interest to private-sector, single employer retirement plans. (Sibson)
Hearing on Defined Benefit Pension Plan Funding Levels and Investment Advice Rules
October 1, 2009. Includes links to testimony. (U.S. House of Representatives, Committee on Ways and Means)
Vick Agrees to $400K Settlement of DOL Charges
Excerpt: "Disgraced NFL quarterback Michael D. Vick has agreed to pay $416,461 in restitution to a pension plan sponsored by his company MV7 LLC to settle allegations Vick had funneled off plan assets for his personal use." (PLANSPONSOR.com)
Links to Items on Executive Comp, Benefits in General
[Official Guidance]Text of Rev. Proc. 2009-47: Per Diem Substantiation of Expenses While Traveling Away From Home (PDF)
31 pages. Provides rules for employees who are reimbursed for lodging, meals, and incidental expenses, or meals and incidental expenses only, while traveling away from home, to substantiate the expenses by per diem allowance in lieu of actual expenses. The revenue procedure also provides an optional method for employees and self-employed individuals who are not reimbursed to use in computing the deductible costs they pay or incur for business meal and incidental expenses, or for incidental expenses only if they pay or incur no meal expenses, while traveling away from home. Use of a method described in this revenue procedure is not mandatory, and a taxpayer may use actual allowable expenses if the taxpayer maintains adequate records or other sufficient evidence for proper substantiation. (Internal Revenue Service)
Small Employers Get a Reprieve on Huge Penalties Over Pension, Health Plans
Excerpt: "Hundreds of small employers caught a break last week when the Internal Revenue Service agreed to extend its moratorium on collecting penalties from them. During the past four years, the IRS has increased its auditing of small employers with pension and health and welfare plans to make sure they comply with a 2004 tax code change that requires these companies to notify the agency that they have plans that act as tax shelters. The fines for failing to do so are $200,000 per business per year the plan has been in place and $100,000 per individual." (Workforce Management)
Employee Ownership Update for October 1, 2009
NCEO Executive Director Corey Rosen discusses: 5 of the 15 winners of the Wall Street Journal and Winning Workplaces Best Small Workplaces Award are employee ownership companies; the Department of Labor's Phyllis Borzi says ESOPs are a priority; there is a new directory of professionals to help employees deal with stock option and other equity grants; a new definition of efficient markets; the NCEO has started a search for a new executive director; and personal notes on his change of roles. (National Center for Employee Ownership)
Webcasts and Conferences
"2009 Required Minimum Distributions: Now We Know" Web SeminarNationwide on October 13, 2009
presented by SunGard Relius
"EFAST2: The Future of Form 5500" in Orange County, CA (Irvine)
in California on October 27, 2009
presented by SunGard Relius
"EFAST2: The Future of Form 5500" in Sacramento
in California on December 1, 2009
presented by SunGard Relius
"EFAST2: The Future of Form 5500" in San Francisco
in California on November 5, 2009
presented by SunGard Relius
"Plan Forms, Notices, and Amendments: Streamlined, Effective, Timely" in Orange County, CA (Irvine)
in California on October 27, 2009
presented by SunGard Relius
"Plan Forms, Notices, and Amendments: Streamlined, Effective, Timely" in Sacramento
in California on December 1, 2009
presented by SunGard Relius
1099-R Series and Form 5498 2-Part Series
Nationwide on December 3, 2009
presented by McKay Hochman Co.
IRA and HSA Webinars
Nationwide on October 1, 2009
presented by Collin W. Fritz & Associates, Ltd.
New Roth Conversion and Portability
Nationwide on November 11, 2009
presented by McKay Hochman Co.
( Click to post your webcast or conference )
Press Releases
PSCA Announces the 2009 Signature Awards WinnersProfit Sharing/401(k) Council of America (PSCA)
U.S. Labor Department Sues Fiduciary of ERISA-Covered Plan Sponsored by Twinsburg, Ohio, Company
U.S. Department of Labor, Employee Benefits Security Administration (EBSA)
U.S. Labor Department Sues Former CEO of Defunct Centerbrook, Connecticut, Company to Recover Misused Assets of Employee 401(k) Plan
U.S. Department of Labor, Employee Benefits Security Administration (EBSA)
U.S. Department of Labor Obtains Consent Judgment with Fiduciary of Defunct Atlanta-based Mortgage Loan Company
U.S. Department of Labor, Employee Benefits Security Administration (EBSA)
ERIC Urges Congress to Approve Pension Funding Relief; Protect SunAmerica Investment Advice Arrangement
ERIC (ERISA Industry Committee)
Defined Benefit Pension Plan Relief Critically Needed, Advice Legislation Should Protect Existing Arrangements
American Benefits Council
Pension Rights Center Asks House Ways and Means Committee to Provide Funding Relief for Companies that Continue Workers? Pensions
Pension Rights Center
Newkirk Offers Roth Conversion Materials Booklet, Online Analyzer, and Online Education Seminar Address New 2010 Roth Conversion Rules
Newkirk Products, Inc.
The Retirement Advantage, INC. Announces Results of Financial Advisor Satisfaction Survey
The Retirement Advantage (TRA)
Guardian Expands National Sales Team for Retirement Solutions Business
Guardian
McGraw-Hill's Financial Communications Rolls Out New Retirement Enrollment Kit
McGraw-Hill Companies
( Click to post your press release )
Employee Benefits Jobs
Employee Benefits Program Managerfor Blue Cross and Blue Shield of North Carolina
in NC
( Click to post your job opening | View all jobs |
RSS feed of all jobs
)EmployeeBenefitsJobs.com (Sponsor)
(Click on banner to learn more.)
Handy Links:
- View Today's Active Message Threads
- Using the Web for Employee Benefits Research (hypertext article)
- Employee Benefits Library
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