How to fix a broken plan: VCR, CAP or bended knee
Article Abstract:
The IRS has formal programs available enabling employee benefit plan administrators to correct errors in ERISA plans with limited sanctions attached. Different plans are available depending upon the circumstances, but the Employee Plans Compliance Resolution System (EPCRS) is an IRS initiative which consists of a comprehensive system of programs and increases uniformity. Administrators must familiarize themselves with the programs' specific and detailed qualifications and requirements.
Publication Name: Tax Management Compensation Planning Journal
Subject: Law
ISSN: 0747-8607
Year: 1999
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Extracts from testimony at DOL hearings held February 17, 18 and 19, 1999, on DOL proposed claims procedure regulations
Article Abstract:
The US Labor Dept's proposed regulations regarding changes to claims and appeals procedures for ERISA benefit plans were not generally well received. The proposals which were issued in Sept 1998 received an unusual amount of criticism particularly regarding health and disability plan changes. Responsive DOL hearings were held on three days in Feb 1999 where specific comments and complaints were discussed.
Publication Name: Tax Management Compensation Planning Journal
Subject: Law
ISSN: 0747-8607
Year: 1999
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To test or not to test: IRS issues s. 401(k) safe harbor guidance
Article Abstract:
The IRS has issued safe harbor guidance for 401(k) plans in IRS Notice 98-52. The guidance concerns plan administrative and accounting procedures to be followed in accordance with new rules enacted by the Small Business Job Protection Act of 1996. Annual Average Deferral Percentage or Average Contribution Percentage tests may be avoided after 1998 with eligible 401(k) plan design.
Publication Name: Tax Management Compensation Planning Journal
Subject: Law
ISSN: 0747-8607
Year: 1999
User Contributions:
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