Debate rages about implications of flat tax proposals
Article Abstract:
Senator Robert Packwood of the Senate Finance Committee is one of the advocates for a flat tax. This proposal is being opposed by Representative Bill Archer of the House Ways and Means Committee. A flat tax is characterized by a single tax lower than the current rate, minimal deductions, a limit to which low-income earners are not taxed and no tax on savings. Pension planners are not optimistic about it since employers will not be able to deduct contributions to qualified plans.
Publication Name: Pension Management
Subject: Human resources and labor relations
ISSN: 1078-9766
Year: 1995
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Form 5500: agency tackles paperwork with electronic filing
Article Abstract:
Pension fund administrators are examining possibilities in the application of technology to administrative functions such as filing Internal Revenue Service (IRS) forms. However, some agencies are wary of federal government plans to adapt electronic filing system standards, particularly over Form 5500 pension statement processing by the IRS and the Dept. of Labor. The department has assured benefit planners of such system integration into pension processing.
Publication Name: Pension Management
Subject: Human resources and labor relations
ISSN: 1078-9766
Year: 1995
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Funding notice: plan sponsors react to PBGC proposal
Article Abstract:
The Pension Benefit Guaranty Corp. has proposed a standard for reporting pension plan status. The proposed standard is in compliance with the 1994 Retirement Protection Act which mandates companies with pension plans that are less than 90% funded to make annual fund status reports. Commenting on the proposed standard, pension managers stressed the importance of not getting plan participants over-alarmed about reports of under-funding.
Publication Name: Pension Management
Subject: Human resources and labor relations
ISSN: 1078-9766
Year: 1995
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