TOP
Experts in Personalized Retirement Plan Design & Administration

BPP401k.com Newsletter January 12

Online Year 2007 ERISA Reporting Calendars – Summary: Wyatt’s 2007 ERISA Reporting Calendars are now available online! Plan administrators of single and multiemployer pension and welfare benefit plans can visit our web site for concise information on filing annual and special reports with the DOL, IRS and PBGC. Located at: Watson Wyatt Worldwide. Click on headline for full article.

A Cautionary Note to 401k Plan Borrowers and Administrators – Summary: No matter what kind of bankruptcy an employee files, plan administrators should continue to withhold an employee’s automatic 401k loan repayments, and are cautioned not to react to a bankruptcy notice or ‘dunning’ letter from a bankruptcy attorney. Located at: 401khelpcenter.com. Click on headline for full article.

401k Resource Guide – General Distribution Rules – Summary: To help plan sponsors understand 401k plan distributions better, the IRS has just made available a this basic resource guide. Located at: IRS. Click on headline for full article.

401k Education Efforts Target Minorities – Summary: 401k plan sponsors are turning into advertising execs when it comes to plan communication and investment education. Well versed in marketing strategies, they design materials to grab the attention of as many U.S. workers as possible and getting them actively engaged in their 401k plans. Located at: Benefitnews.com. Click on headline for full article.

Criminal Conviction Upheld for Owner Who Diverted Funds – Summary: Although ERISA may not define plan assets, DOL regulations clearly define amounts withheld from employee pay as plan assets. This criminal conviction is a harsh reminder of ERISA’s trust and exclusive benefit rules. Located at: Employee Benefits Institute of America. Click on headline for full article.

Access, Participation, and Take-up Rates in DC Plans – Summary: Employee participation rates for defined contribution retirement plans vary widely among groups of workers and their employers, primarily reflecting how frequently the employers provide access for employees to participate in these plans. Located at: DOLs Bureau of Labor Statistics. Click on headline for full article.

Summary of Articles Related to the PPA – Summary: This is a summary of articles published by McKay Hochman on the Pension Protection Act of 2006. Located at: McKay Hochman. Click on headline for full article.

PPA: Summary of Key Provisions – Summary: This summary of the PPA was prepared by AICPA to assist in obtaining a general understanding of key provisions in the Act relating to financial, reporting and other matters. Located at: AICPA Employee Benefit Plan Audit Quality Center (Word Document). Click on headline for full article.

Online Tools Enhance Financial Education but Still Unused – Summary: As a growing number of employers offer financial education to their employees, online tools play an important role in that education, but employers may be disappointed in the amount of use the those tools get. Located at: Benefitnews.com. Click on headline for full article.

More Information on Revenue Sharing – Summary: Although directed at government sponsored deferred compensation plans, the issues are applicable to all types of DC plans. This article will take a look at some of the issues arising out of provider payments and make some recommendations on how to avoid potential pitfalls. Located at: NAGDCA. Click on headline for full article.

DOL Issues Guidance on the New Periodic Benefit Statement Requirement – Summary: The Pension Protection Act provision requiring periodic benefit statements has generated more questions and concerns than any other PPA provision. In response to the many questions, the DOL has issued Field Assistance Bulletin 2006-03. This is a questions and answers summary of the key points of the FAB. Located at: Sungard Relius. Click on headline for full article.

DOL Issues Guidance on Periodic Benefit Statements – Summary: In December 2006, the DOL issued Field Assistance Bulletin 2006-03 regarding the periodic benefit statement requirement contained in the Pension Protection Act of 2006. Plan sponsors should act in good faith compliance until regulations are issued concerning the pension benefit statement provisions. Located at: ERISAdiagnostics.com. Click on headline for full article.

IRS Updates Procedures for Issuing Letter Rulings, Determination Letters – Summary: Internal Revenue Bulletin 2007-1 contains the annual update and restatement of eight IRS revenue procedures. Employers and their advisors seeking plan-specific guidance from the IRS will need to familiarize themselves with this bulletin. Located at: Employee Benefits Institute of America. Click on headline for full article.

For more information visit www.bpp401k.com

Share This!
WordPress › Error

There has been a critical error on this website.

Learn more about troubleshooting WordPress.