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Marcia Wagner
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Why Employers Need a Gap Analysis
The Employee Retirement Income Security Act of 1974 ("ERISA") and the Internal Revenue Code ("Code") regulate employer-sponsored retirement, executive compensation, welfare and fringe benefit plans. Both ERISA and the Code require certain plan features. In ...

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Florida Legislature Considers Exempting Participant Loans from State's Stamp Tax
Members of the Florida
legislature recently proposed a change to the state's stamp tax law that
would specifically exclude its application to participant loans from
ERISA-covered retirement plans ("participant loans"). This
proposal, and the explora...

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Here are the 2015 Cost of Living Adjustments
2014 2015 Maximum annual payout from a defined benefit plan at or after age 62 (plan year ending in stated calendar year) $210,000* $210,000* Maximum annual contribution to an individual's defined contribution account (plan year ending in stated calendar ye...

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DOL Issues New Guidance on Locating Missing Participants
The U.S. Department of Labor ("DOL") has provided new guidance to plan fiduciaries of terminated defined contribution plans for locating missing or unresponsive participants in order to distribute their benefits.  The guidance, which comes in the form of Fi...

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Supreme Court Rejects Presumption of Prudence in Stock-Drop Cases
Recently, the Supreme Court handed down a unanimous opinion in the case of  Fifth Third Bancorp v. Dudenhoeffer , rejecting a long-standing rule that  fiduciaries of individual account plans are entitled to a "presumption of prudence" when employer stock is...

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IRS Issues Final Regulations to Clarify Tax Treatment of Payments by Retirement Plans for Accident, Health and Disability Insurance Premium
The IRS has issued final regulations that clarify the tax treatment of premium payments paid by qualified defined contribution plans for accident and health insurance where such payments are charged against participants' plan accounts.  Included within the ...

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IRS Issues Updated Circular 230 Regulations
The IRS has issued updated final regulations on Circular 230 that significantly revise the manner in which practitioners are required to advise on federal tax matters.  Circular 230 is a portion of the federal regulations that governs the conduct of individ...

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ERISA's 40th Anniversary
This week marks the 40th  anniversary of a landmark event that, along with Social Security, has shaped the retirement landscape in the United States. President Gerald Ford's signing into law of the Employee Retirement Income Security Act (otherwise known as...

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IRS Issues Guidance Providing Penalty Relief for Late Filing of Forms 5500
The Internal Revenue Service ("IRS") has issued two pieces of guidance that provide relief to retirement plan sponsors and administrators from the penalties that may be assessed under the Internal Revenue Code (the "Code") for delinquent Forms 5500 filings....

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Form 8822-B: What is it and Who Needs to File it?
To maintain correct ownership details, curb abusive tax schemes,
and ensure that the correct individual is contacted regarding tax matters,
the IRS has mandated new requirements to report a change in the identity of a
"responsible party" for entities ...
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