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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.
GAO study: Better pension reporting coordination needed
trueFederal regulators overseeing retirement plan reporting and disclosure rules could do a better job for plan sponsors and participants, the Government Accountability Office said in a report released Tuesday.
IRS issues testing relief for closed DB plans
trueCorporations that sponsor defined benefit plans closed to new employees got some good news Friday from the Internal Revenue Service, which granted relief from non-discrimination testing rules through 2015.
Did IRS inaction prompt some to freeze DB plans?
trueMore closed corporate defined benefit plans may have been frozen this year because the IRS has not released guidance on how employers could avoid failing non-discrimination testing in closed plans.
Senators urge action on discrimination testing rules for defined benefit plans
trueSens. Ben Cardin, D-Md., and Rob Portman, R-Ohio, are urging Treasury officials to help defined benefit plan sponsors deal with non-discrimination rules that could prompt more soft-frozen plans that are closed to new participants to be frozen.
IRS announcement of 401(k) plan maximum contribution for 2014 expected Oct. 30
trueAn Internal Revenue Service announcement on the maximum contribution that can be made to 401(k) plans, which was delayed by the 16-day partial government shutdown, is expected next week.
EBSA guidance on same-sex couples for retirement plans mirrors IRS rules
trueEmployers wondering how the Supreme Court decision that voided parts of the Defense of Marriage Act affects their retirement plans got some clarity Wednesday from the Department of Labor.
IRS grants church-plan status to St. Peter's Healthcare System
trueThe IRS has granted church-plan status to the defined benefit pension plan of Saint Peter's Healthcare System, New Brunswick, N.J., exempting it from Employee Retirement Income Security Act rules on reporting, minimum contributions and paying premiums to the Pension Benefit Guaranty Corp
Small-business owners: Regulation and tax reform, not access to capital, likely to spur job growth
trueRegulatory 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
trueEmployers 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.