New law liberalizes rollovers, complicates tax withholding on qualified plan distributions
Article Abstract:
The Unemployment Compensation Amendments of 1992 make more lenient earlier law on rollovers of qualified pension plan distributions and Section 403(b) annuities to other qualified plans and individual retirement accounts. Qualified plans must also offer participants the 'Direct Rollover' option and a mandatory 20% withholding will apply to qualified plan distributions not using this option.
Publication Name: Tax Management Compensation Planning Journal
Subject: Law
ISSN: 0747-8607
Year: 1993
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Nonmarried participant must be provided adequate notice and must give written consent before lump sum distribution
Article Abstract:
The 9th Circuit ruled in Franklin v Thornton that a letter from an unmarried participant requesting a lump sum distribution did not constitute adequate consent to the distribution. This was because it was sent before receipt of the legally required description of the plan's distribution options. IRC 417(e)(2) is the code section requiring written consent.
Publication Name: Tax Management Compensation Planning Journal
Subject: Law
ISSN: 0747-8607
Year: 1993
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Cutting back on the anti-cutback rule: new final regulations under s. 411(d)(6)
Article Abstract:
The author discusses IRC section 411(d)(6) restrictions to eliminating or changing qualified pension plan via merger or amendment and changes to this cut-back rule.
Publication Name: Tax Management Compensation Planning Journal
Subject: Law
ISSN: 0747-8607
Year: 2001
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- Abstracts: Tax-free rollover permitted even though estate is named as beneficiary of qualified plan interest. IRS issues PLRs on elections for extensions of time to file
- Abstracts: Tax-free rollover permitted even though estate is named as beneficiary of qualified plan interest. part 2 Reverse rollover from conduit IRA to former employer's plan permitted
- Abstracts: European 'passport' liberalizes some investments; transferable securities directive makes investing among nations a bit easier
- Abstracts: The Federal Circuit's narrowing of the literal scope of patent claims by focussing on embodiments disclosed in the specification
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