Pension Rights Center Applauds IRS for Opening “Church Plan” Rulings Process to Comments by Employees and Retirees
The Internal Revenue Service has issued a long-awaited revenue procedure clarifying the process for retirement plans to apply for “church plan” status. Rev. Proc. 2011-44 requires employers that seek an IRS ruling that their retirement plans are so-called “church plans” to notify participants in those plans that, as a church plan, their plan would not […]
As Brokers Cheer, Advisers Sound Off on DOL 401k Fiduciary Capitulation
Chances are, very few 401k plan sponsors and precious few 401k plan participants even noticed the recent goings-on at the DOL and how they just lost valuable protection so big brokers could line their pin-striped pockets with a big chunk of somebody else’s retirement assets.
Forced Out of 401(k)? Not So Fast
Employers can automatically close the accounts of former employees only if the balance is low.
Delay on Pension Oversight
The Labor Department plans to push off until 2012 the adoption of a set of rules that would expand its oversight of pension plans, 401(k) plans and individual retirement accounts.
Proposed Retirement Plan Overhaul Faces Skepticism at Tax Reform Hearing
Employee benefits experts testifying before the Senate Finance Committee on Sept. 15 about tax reform options for retirement security largely called for retaining the current structure of retirement savings plans with some improvements, but one witness recommended an overhaul that would replace deductions with refundable tax credits.[Reproduced with permission from BNA Pension & Benefits Reporter, […]
Shining a light on a hidden pension world
In a new book, Retirement Heist, prize-winning journalist Ellen Schultz has provided the ultimate backstage pass to the world of pensions, with plenty of drama and shocking details. Schultz, a former Wall Street Journal reporter, has woven together a compelling story that reveals how arcane accounting rules, legal maneuvering, and unfair claims procedures have led […]
Boomer Retirement Doesn’t Seem Rosy
Baby Boomers will have a tough financial row to hoe in managing their retirement and will need to adopt their own special game plan in order to live comfortably in their golden years, says Alice Munnel, keynote speaker at the Financial Planning Association’s 2011 Conference in San Diego on Friday.
Retirement experts clash over tax breaks for 401(k) plans
Some want to boost the deferral limit – others want to do away with it
401(k) savings proposal gets cold shoulder from panel
A proposal to replace the current tax deductions for 401(k) plans and IRAs with a flat tax credit got a chilly reception before the Senate Finance Committee on Thursday as panel members and pension experts defended the plans and the incentives for employers to provide them.
Senate Panel Hears Sharp Disagreement on Improving Retirement Savings
Proposals ranged from substantial changes in the current system to adjustments that would not alter it drastically
Baucus Urges Minimizing Costs in Retirement Savings Proposals
Proposals seeking to increase workers’ retirement savings by making adjustments to the U.S. tax code should weigh the costs of such shifts, Senate Finance Committee Chairman Max Baucus said in a hearing held by the panel in Washington.
