The IRS has released a revenue procedure establishing a program for the preapproval of Sec. 403(b) plans.
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Types & Qualifications
IRS Announces Pre-Approval Program for Sec. 403(b) Plans
The IRS has established a program for the pre-approval of Sec. 403(b) plans.
Compensation and Benefits Update: Retirement Plans and Executive Compensation
This article focuses on recent changes affecting qualified retirement plans and executive compensation.
Benefiting From Unique Attributes of ESOPs
An employee stock ownership plan (ESOP) is a stock bonus plan or a combination of a stock bonus plan and money purchase pension designed to invest primarily in stock of the employer.
Current Developments in Employee Benefits and Pensions (Part II)
This two-part article covers significant developments in employee benefits. Part II focuses on guidance released under PPACA and chages to qualified plan rules.
Required Minimum Distribution Alternatives for IRA Beneficiaries
This article discusses the distribution options available to IRA beneficiaries, with an emphasis on opportunities to control the timing of the distribution period and actions that must be taken on a timely basis to achieve the desired outcome.
Substantially Equal Payment Exception
One of the most useful exceptions to the early distribution tax (particularly for IRA distributions before the taxpayer is age 59½) is the exception for substantially equal payments.
Using a Qualified Plan Account to Fund a Roth IRA Conversion
Recent tax law changes expand the Roth IRA to all taxpayers who have or could have traditional IRA accounts. Determining whether a Roth conversion is the right strategy takes thoughtful consideration.
Tax Consequences of Rollovers from Employer Plans to Roth IRAs
Starting in 2010, taxpayers are able to make rollovers from non-Roth retirement accounts to Roth individual retirement accounts (IRAs) without regard to the $100,000 modified adjusted gross income limit and (in 2010 only) will be able to benefit from a special two-year averaging provision (the taxable portion of the rollover is taxed in 2011 and 2012). In light of the expected attractiveness of such a rollover, the IRS has issued Notice 2009-75 to address the federal income tax consequences of transferring eligible rollover distributions from qualified retirement plans to Roth IRAs.
IRS Clarifies Rule for Contributing Unused Paid Time Off to Sec. 401(k) Plans
The IRS has issued guidance to clarify issues involving the contribution of the dollar value of unused paid time off (PTO) to the employer’s Sec. 401(k) plan.
Final Regs. on Single-Employer Defined Benefit Plans
The IRS issued final regulations to provide guidance on (1) the determination of the value of plan assets and benefit liabilities for purposes of the single-employer defined benefit plan funding requirements, (2) the use of certain funding balances maintained for those plans, and (3) benefit restrictions for certain underfunded defined benefit pension plans.
Converting Traditional IRAs to Roth IRAs in 2009
While much has been written about the new possibilities of converting traditional IRAs to Roth IRAs in 2010, advisers should not lose sight of the possible benefits of moving the timing up a year.
Roth IRA Conversions in 2010
The Tax Increase Prevention and Reconciliation Act of 2005 contained a provision that allows more taxpayers to convert their traditional IRAs to Roth IRAs starting in 2010.
Making the Most of the IRA Required Minimum Distribution Holiday
The Worker, Retiree, and Employer Recovery Act of 2008 waives, for 2009 only, the required minimum distribution (RMD) rules applicable to retirement plan withdrawals, thereby allowing retirees to forgo a year’s distributions.
Congress Passes Pension Amendments
The Worker, Retiree, and Employer Recovery Act makes various technical corrections to provisions of the Pension Protection Act of 2006, as well as enacting pension provisions that relate to the current economic crisis.
Substantially Equal Periodic Payments from an IRA
This article examines the formulas provided by the IRS as safe-harbor methods for calculating the SEPP amount.
Using Serial IRAs to Stretch the 60-Day Rule for IRA Rollovers
This item outlines steps that can be taken to stretch the 60-day IRA rollover window to 300 days without violating the 12-month rule.
IRS Allows Penalty-Free Withdrawal of Stimulus Payments from IRAs
The IRS has announced that taxpayers who had their economic stimulus payments deposited directly into a tax-favored account can generally withdraw amounts up to the amount of that payment tax free and penalty free until the due date of their 2008 income tax return, including extensions.
Self-Directed IRAs: Advantages, Challenges, and Options
A self-directed IRA is simply an account in which the custodian agrees to allow the taxpayer to exercise greater control over investment decisions.
Current Developments in Employee Benefits and Pensions (Part II)
This two-part article covers significant developments in late 2006 and 2007 in employee benefits, focusing on updates and changes to the rules for qualified retirement plans.
employee benefits & pensions
Profits interests: The most tax-efficient equity grant to employees
By granting them a profits interest, entities taxed as partnerships can reward employees with equity. Mistakes, however, could cause challenges from taxing authorities.
