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Small-business owners: Regulation and tax reform, not access to capital, likely to spur job growth
Regulatory reform and tax incentives were cited by 28% of small- and medium-sized business owners as policies most likely to spur U.S. job creation in 2013, according to the latest Pepperdine Private Capital Markets Project survey of small-business owners. Interestingly, only 26% of small-business
Closed pension plans face non-discrimination peril
Employers that thought closing their defined benefit plans to new employees would simplify their pension decisions could be in for a rude surprise as they increasingly risk flunking non-discrimination tests.
ICI survey: Americans back tax breaks for defined contribution plans
Just as President Barack Obama is calling on Congress to close tax loopholes and deductions to reduce the deficit, Investment Company Institute is touting a survey that shows a majority of Americans don't want lawmakers to change tax incentives for retirement savings.
Automatic IRAs won't happen regardless of election, PSCA lobbyist says
Automatic individual retirement accounts, a proposal by President Barack Obama, won't become a reality even if the president is re-elected, PSCA lobbyist Ed Ferrigno said Thursday.
2012 PRESIDENTIAL CANDIDATE EMPLOYEE BENEFIT QUESTIONNAIRE
Both parties have been talking about tax reform to broaden the revenue base and lower tax rates. Both parties are also under pressure to deal with the federal budget. In the quest to find revenue and to set the stage for major tax reform, several commissions have suggested limiting or eliminating
Law limits L.A. school district's efforts to simplify 403(b) plan
Los Angeles Unified School District executives are pinned between Internal Revenue Service rules requiring greater responsibility for monitoring and administering the district's $2 billion 403(b) plan and a state law they say makes it more difficult and expensive to meet the IRS standards.
American Airlines might get lump-sum relief for pilots' plan
The IRS on Wednesday offered a solution to American Airlines' attempt to freeze its defined benefit plan for pilots, proposing a rule change that would allow for elimination of lump-sum distributions.
Putnam's Reynolds is worried about future of retirement savings incentives
Despite emerging unscathed from an initial review by a House committee, tax incentives for retirement savings could be curbed or eliminated as part of comprehensive tax reform and deficit reduction, prompting concern from Putnam Investments CEO Robert Reynolds.
Obama budget going after retirement tax incentives
President Barack Obama's fiscal 2013 budget proposal marks his first formal attempt to trim tax incentives for retirement savings.
Congress OKs new federal employees' pension contribution hike as part of payroll tax bill
Federal employees hired after the end of this year will contribute more to their defined benefit pension plan under legislation extending the payroll tax cut.
401(k) tax deferral has up to $70 billion annual price tag
The current tax treatment for 401(k) plans costs the U.S. Treasury $50 billion to $70 billion in revenue each year, according to an analysis from the Center for Retirement Research at Boston College.
Labor Department offers sneak peek at Form 5500 changes
The Department of Labor on Tuesday provided an advance look at changes to Form 5500 reporting requirements for pension plans in plan year 2011.
Misguided presumption in Citigroup, McGraw Hill rulings
The U.S. Court of Appeals for the Second Circuit, New York, sought to reconcile conflicting objectives of defined contribution plans in rulings in separate cases involving McGraw-Hill Cos. Inc. and Citigroup Inc.
401(k) plan contribution, other retirement plan limits upped for 2012
The maximum contribution that can be made to 401(k) retirement plans will increase next year, as will the maximum benefit that can be funded through defined benefit plans, the IRS announced Thursday. The maximum annual contribution an employee can make through salary reduction to a 401(k) plan will
IRS delays cash balance plan rules until 2013
The IRS is delaying by at least a year the effective date of cash balance pension plan rules it proposed last year. The proposed rules involve a provision in the Pension Protection Act of 2006 that allows plan sponsors to use a “market rate” to credit interest to participants’ account balances.