Survey: 14% of sponsors to drop DB MINNEAPOLIS - Fourteen percent of employers plan to replace their defined benefit pension plan with a defined contribution plan, 13% plan to freeze their defined benefit plan and 5% plan to terminate their define Survey: 14%...
Byline: HARRIET TRAMER Internal Revenue Service changes that recently went into effect boosted the amount employees can contribute to their 401k plans and raised the "catch-up'' contributions, or supplemental sums, that people older than 50 Byline: HARRIET TRAMER Internal Revenue...
Byline: JERRY GEISEL CHARLOTTE, N.C.-An innovative Bank of America Corp. arrangement in which employees in the late 1990s were given a one-time opportunity to transfer funds from their 401k plan accounts to the bank's cash balance plan violates Byline: JERRY GEISEL ...
Excess vacation pay can be contributed to a 401k plan tax free. Employees with leave they are about to forfeit can use the vacation days by year end or have the cash equivalent placed in their 401k accounts. The employees are not allowed to recei Excess...
Byline: JERRY GEISEL WASHINGTON-Final Internal Revenue Service 401k rules curb a low-cost approach that some employers have used to allow higher-paid employees to contribute more to 401k plans and still enable the plans to pass nondiscriminati Byline: JERRY GEISEL WASHINGTON-Final...
The IRS last updated its regulations governing 401k plans in 1994. A lot has happened since then, including enactment of catch-up contributions, the growth of automatic election plans, and numerous changes to the discrimination rules. The IRS has issued periodic guidance concerning these changes, but the basic 401k/401m regulations have...
The IRS last updated its regulations governing 401k plans in 1994. A lot has happened since then, including enactment of catch-up contributions, the growth of automatic election plans, and numerous changes to the discrimination rules. The IRS has issued periodic guidance concerning these changes, but the basic 401k/401m regulations have...
Commercial P/C rates still declining: Survey Commercial property/casualty insurance rates continued to fall, albeit only slightly, during the third quarter of the year compared with the same period last year, according to the RIMS Benchmark Survey Commercial P/C rates still declining: Survey ...
The IRS last updated its regulations governing 401K plans in 1994. A lot has happened since then, including enactment of catch-up contributions, the growth of automatic election plans, and numerous changes to the discrimination rules. The IRS has issued periodic guidance concerning these changes, but the basic 401K/401M regulations have...
The Internal Revenue Service recently issued additional guidance on safe harbor requirements for 401k plans. Safe harbor contributions formulas became available for most 401k plans beginning with the 1999 plan year. This article discusses safe harbor rules; a plan sponsor does not have to perform the actual deferral percentage ("ADP")...
The Internal Revenue Service has once again issued a positive private ruling for a group disability product inside a 401k plan. The ruling gives more details than a similar one promulgated over two years ago, which allowed the company to market a b The Internal Revenue...
IRS can seize funds in a 401k plan to satisfy a prior tax debt. An employee who owed the Service back taxes found this out the hard way when it yanked $5,600 from his 401k account at work to cover the bill. IRS can seize...
The Internal Revenue Service's announcement earlier this month allowing 401k plan sponsors the option of automatic enrollment for new employees in company plans has been well received by 401k providers. The Internal Revenue Service's announcement earlier this month allowing 401k plan sponsors the option of automatic...
Byline: JERRY GEISEL WASHINGTON-Another obstacle blocking employers from adding Roth 401k plans has been lifted, but widespread employer adoption of the plans is at least several years away. Last week, the Internal Revenue Service finalized re Byline: JERRY GEISEL ...
IRS ruling could boost participation, savings JERRY GEISEL WASHINGTON - Employers with 401k plans can automatically reduce employees' salaries and transfer those amounts to the plans, the Internal Revenue Service said. Revenue Ruling 98-30, releaseIRS ruling could boost participation, savings JERRY GEISEL WASHINGTON...
WASHINGTON-Employers now have the official guidance on implementing a tax law provision that will allow older employees to make ``catch-up'' contributions to their 401k plans. That provision in the tax law enacted earlier this year allows employ WASHINGTON-Employers now have the official guidance...
IRS ruling could boost participation, savings WASHINGTON - Employers with 401k plans can automatically reduce employees' salaries and transfer those amounts to the plans, the Internal Revenue Service said. Revenue Ruling 98-30, released last week, gIRS ruling could boost participation, savings WASHINGTON - Employers with...
WASHINGTON - Benefit managers are studying the advantages and potential pitfalls of an Internal Revenue Service private letter ruling permitting an employer to convert employees' unused vacation days into contributions to their 401k plan. Although tWASHINGTON - Benefit managers are studying the advantages and potential...
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