Pension simplification: what hath Congress wrought?

Article Abstract:

A number of laws affecting qualified benefit plans offer the prospect of simplifying plan regulations and making qualified plans more appealing to employers. Small businesses establishing SIMPLE plans and offering 3% matching contributions will not be subject to non-discrimination testing. A safe harbor from non-discrimination testing for 401(k) plans is available if mandatory contributions are established. The definition of highly compensated employees has been simplified, as have annuity distribution rules.

Salary reduction savings plans, 401K plans

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The complexities of complexity analysis

Article Abstract:

Attempts by Congress, by enacting provisions in the IRS Restructuring and Reform Act of 1998, to reduce the administrative complexity of proposed tax law provisions is discussed. Formal analysis by the Joint Committee on Taxation has appeared to have little relevance or practical effect.

Tax Law, Evaluation, Tax administration and procedure, Tax reform

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Developments in qualified retirement plans

Article Abstract:

The author discusses changes in tax law and administration concerning qualified employee benefit plans. Comparability plans, cash balance plans, coverage, negative elections, discrimination, combined plan limits, voluntary corrections, and reporting are included in the discussion.

Taxation

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