Plan document
Article Abstract:
The IRS approved a nonqualified deferred compensation plan in PLR 9508014 that provided for immediate distribution of all funds in the bonus and stock appreciation rights plan if the employer's assets fell below $10 million. The IRS has generally opposed such provisions as attempts to defeat the rights of the employer's potential creditors. For nonqualified plans, the plan assets are considered the assets of the employer and should be subject to creditors' claims. The reviewing agent focused on election issues, so it is uncertain whether the IRS intended to approve this trigger mechanism.
Publication Name: Tax Management Compensation Planning Journal
Subject: Law
ISSN: 0747-8607
Year: 1996
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IRS issues sample language for a spouse's waiver of QJSA or QPSA and sample language for QDROs
Article Abstract:
IRS Notices 97-10 and 97-11 provide sample language to be used for drafting waivers of qualified joint and survivor annuities and qualified preretirement survivor annuities and drafting qualified domestic relations orders. The sample language will be valuable to plan administrators by providing assurances that consent to waive rights under defined contribution plans is valid. The qualified domestic relations order sample language identifies both what language to use and what related issues to consider.
Publication Name: Tax Management Compensation Planning Journal
Subject: Law
ISSN: 0747-8607
Year: 1997
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Guidance issued on notice and consent requirements for QJSA waivers, distributions over $3,500, and direct rollovers
Article Abstract:
The IRS has issued guidance on its requirement that participants in qualified pension plans receive written notice of their rights to rollover benefits by plan administrators. The guidance and related regulations allow administrators to issue notification about consent requirements for distributions over $3,500, election requirements regarding Qualified Joint and Survivor Annuity waivers, and rollover distributions for annuities and qualified plans all at once.
Publication Name: Tax Management Compensation Planning Journal
Subject: Law
ISSN: 0747-8607
Year: 1995
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