What's ahead for pension legislation?
Article Abstract:
Congress has repeatedly tried to pass a pension simplification bill aimed at reducing the regulatory oversight involved in employee retirement plans. However, these and related proposals have been rejected because they may be prone to abuse in reporting and disclosure. The IRS is remedying these problems by implementing voluntary compliance initiatives, while the Dept. of Labor is also planning to create a voluntary fiduciary correction procedure under the Pension and Welfare Benefits Administration.
Publication Name: Pension Management
Subject: Human resources and labor relations
ISSN: 1078-9766
Year: 1996
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Gaining access to excess pension assets
Article Abstract:
The high returns in equity investments have resulted in the overfunding of a number of defined benefit (DB) pension plans. However, pension plan providers can not touch these surplus assets to serve other corporate needs. Different methods have been devised to access these excess assets. The IRS has declared that employers could utilize excess assets of qualified DB plans to fund non-qualified benefits by revising the qualified pension plan and terminating the non-qualified plan.
Publication Name: Pension Management
Subject: Human resources and labor relations
ISSN: 1078-9766
Year: 1995
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IRS rules in favor of wraparound 401(k)s
Article Abstract:
The IRS has authorized a direct link of employee compensation deferrals under nonqualified deferred compensation plans to qualified 401(k) plan contributions. This enables highly compensated employees to make additional pretax contributions under nonqualified plans up to the employer-prescribed limit. The deferral arrangement can be undertaken in three years.
Publication Name: Pension Management
Subject: Human resources and labor relations
ISSN: 1078-9766
Year: 1995
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