An overview: wait is over for final 404(c) regulations
Article Abstract:
The long-awaited final regulations for the participant-directed account provisions of Section 404(c) of the Employment Retirement Act of 1974 will become effective on Oct 13, 1993 on the beginning of the second plan year. This law will ensure protection for fiduciaries or trustees against liabilities. However, compliance with the regulation is not mandatory. Only those who wants protection and those who meet the requirements set forth will be eligible. The requirements for participants include having sufficient investment alternatives, easy access to sufficient information and independent control over the assets in participant's accounts.
Publication Name: Pension World
Subject: Human resources and labor relations
ISSN: 0098-1753
Year: 1993
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Questions, tensions resolved in long-awaited court ruling
Article Abstract:
The US Supreme Court has held in a landmark decision on the Patterson versus Shumate case that a participant's interest in a pension plan covered by the ERISA may be omitted from the property of his bankruptcy estate. This decision finally puts to rest the point of contention between the Bankruptcy Code and the ERISA. The code aims to satisfy creditor claims by maximizing the assets in a bankrupt debtor's estate, while the ERISA protects participants and beneficiaries of employment benefit plans.
Publication Name: Pension World
Subject: Human resources and labor relations
ISSN: 0098-1753
Year: 1993
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Examining, complying with new rules under UCA 1992
Article Abstract:
The impact of the Unemployment Compensation Amendments (UCA) of 1992 on withholding and notice rules concerning distributions from tax-qualified retirement plans such as pension, profit-sharing and 401 (k) are discussed. Other related issues are also dissected. Fourteen key principles of the UCA are specifically tackled and suggestions for complying with the law's requirements are provided.
Publication Name: Pension World
Subject: Human resources and labor relations
ISSN: 0098-1753
Year: 1993
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