It's a brave new world as IRS gets aggressive

Article Abstract:

The Employee Plans Division of the IRS has stepped up its campaign to audit qualified plans. This is spurred by their thrust on auditing for prohibited transactions and disqualifying form and operational defects. Form defects arise when a plan has not been modified to comply with new legal requirements. Operational defects, on the other hand, refers to failure to operate in accordance with qualification requirements. The IRS has developed the Closing Agreement Program to settle disqualifying defects with the plan sponsor.

Finance, taxation, & monetary policy, Column, Accounting and auditing, United States. Internal Revenue Service

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Learning from mistakes: the reconsideration of risk and returns

Article Abstract:

The idea that 'core' real estate properties are immune to risk has led to substantial losses for pension funds portfolio managers in the 1980s when overcapacity and the recession led to the devaluation of many properties. Managers should accept that risk is still present and should adjust prices for the possibility of real returns falling short of expected yield. Appropriate management at the acquisition, operation and disposition of real estate determines its value.

Management

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Real estate still viable asset class for pension funds

Article Abstract:

Institutional real estate investments are management intensive and not easily quantifiable. Moreover, recent developments have devalued many properties, which has helped discourage pension funds managers from investing in the asset type. However, real estate remains a viable investment because of the long-term nature of pension funds. For such needs, managers have to develop realistic expectations, a thorough knowledge of the asset and teamwork in planning.

Economic aspects

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