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Precision, flexibility vital for DC plans, say speakers at P&I conference
trueDefined contribution executives need to be both precise and flexible in the managing of their plans, according to fellow sponsors, consultants and providers who spoke at the annual Pensions & Investments West Coast Defined Contribution Conference, held Oct. 26-28 in San Diego.
IRS allows use of annuities in target-date fund series
trueThe Internal Revenue Service on Friday said defined contribution plans’ use of a target-date fund series containing deferred annuities won’t violate IRS rules against DC plans discriminating in favor of higher paid employees, as long as other IRS guidelines are followed.
Daughters of Charity Health System church plan challenged
trueAnother church-affiliated hospital system is being sued by employees challenging its defined benefit plan’s exemption from federal pension law.
IRS adjusts 2015 retirement plan contribution limits for inflation
trueEmployees will be able contribute more to their defined contribution plans in tax year 2015, thanks to cost-of-living adjustments announced Thursday by the Internal Revenue Service.
Pension-related cases being heard by the Supreme Court
trueThe Supreme Court's new term includes cases challenging investors' burden of proof in securities litigation and whether 401(k) plan fiduciaries can be sued for investment choices made years earlier.
IRS, Treasury release final hybrid plan rules
trueThe Treasury Department and the IRS finalized regulations for hybrid retirement plans such as cash balance plans that have been pending since 2010.
GAO: Large partnerships avoid IRS scrutiny
trueCongress should consider requiring large partnerships such as private equity and hedge funds to take steps to make it easier for the Internal Revenue Service to audit them and collect taxes due, the Government Accountability Office said in a congressional report delivered Thursday.
ERISA at 40
trueWhile the Employee Retirement Income Security Act of 1974 benefited millions of people, it did not live up to the “retirement income security” part of its name. Along with praise for what ERISA did accomplish, there are now calls for fixing what it did not.
Lessons learned from ERISA
trueERISA was a farsighted law in many aspects, especially in defining and assigning fiduciary responsibility, including prohibition on conflicts of interests, to those overseeing pension funds. But ERISA in the long term failed to expand defined benefit coverage.
IRS confounded by large partnerships, GAO says
trueThe growing number of large partnerships such as private equity and hedge funds is making it difficult for the Internal Revenue Service.
IRS approves New York Times adjustable pension plan
trueThe IRS approved the Newspaper Guild of New York and New York Times' application to begin an adjustable pension plan that will allow the newspaper company to keep a defined benefit plan structure.
Investors seeking to alter hedge fund fees backed by IRS ruling
trueThe Internal Revenue Service issued a ruling Tuesday clearing the way for institutional investors to seek changes to incentive fees assessed by hedge funds, which might make it cheaper for them to invest in such offerings.
Tax minimization not always the best policy
trueGoogle Inc. shareholders were scheduled to vote on a proposal May 14, sponsored by my firm, seeking the adoption of a responsible code of conduct to guide the company's global tax strategies. I expect this proposal has prompted a quizzical reaction from many investors who assume that minimizing ...
Treasury and IRS offer rollover relief
trueThe Treasury Department and Internal Revenue Service issued guidance Thursday that removes a cumbersome step sponsors of retirement plans must take when accepting rollovers from other employers' plans. The change applies to any qualified plan, including defined benefit, defined contribution, ...
Multiple employer plans grabbing more attention
trueA concerted effort in Washington to get more employers to offer retirement plans has raised the profile of multiple employer plans, a largely untapped market for institutional money managers and other service providers.