IRS proposes more flexible requirements for nondiscrimination safe harbors

Article Abstract:

The IRS issued two notices to expand the availability of nondiscrimination safe harbors in order to simplify corresponding regulations for qualified retirement plans. Notice 92-31 increases the number of qualified plans while notice 92-32 presents an alternative safe harbor for PIA (primary insurance amount) offset plans. These notices allow greater flexibility in crediting service and imputing compensation of safe harbor plans. Safe harbor plans which pass certain criteria are considered nondiscriminatory and do not need to be measured for compliance with the rules.

Qualified benefit plans

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IRS issues final separate-line-of-business and minimum participation regulations

Article Abstract:

The IRS released final regulations on separate-line-of-business (SLOB) and minimum participation guidelines applicable to the Tax Reform Act of 1986 (TRA '86). The final rules enable employers to review their retirement and benefits programs and amend them to conform with TRA '86. The important changes concerning SLOBs include liberalization of tests for determining SLOBs and modification of rules for provision of services by vertically integrated firms. Under the minimum participation rule, employers may change their plans to comply with its requirements.

Business enterprises, Retirement benefits

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IRS issues final nondiscrimination regulation package

Article Abstract:

The Internal Revenue Service has issued comprehensive regulations that put into effect its policies on different nondiscrimination rules appended or amended by the Tax Reform Act of 1986 regarding retirement and other employee benefit plans. The regulation package defines minimum coverage requirements and evaluation guidelines to test whether a qualified plan is particularly advantageous to highly compensated employees, a fact that results in discrimination in plan implementation.

Employee benefits

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