In a legislative session frequently marred by partisan bickering, the need for dramatic pension reform drew an astounding level of bipartisan support in 2000 - only to run out of time. So, it's no surprise that it has managed to return with no apparent loss of momentum, thanks largely to the informed and enthusiastic support of two key individuals from each side of the aisle.
October 6, 2000 (PLANSPONSOR.com) - The Internal Revenue Service says that a parent company's contribution of stock to subsidiary in a so-called rabbi trust has not changed hands until it has actually been used to satisfy claims of the subsidiary, either to participant/beneficiaries or creditors of the subsidiary, as long as certain conditions are satisfied.
October 6, 2000 (PLANSPONSOR.com) - The Internal Revenue Service has issued proposed regulations that new comparability plans must satisfy to use the cross-testing method in meeting nondiscrimination requirements.
September 5, 2000 (PLANSPONSOR.com) - There are some noticeable differences between the House and Senate versions of the pending retirement savings legislation that impact plan sponsors, including a new type 401(k) plan, expanded catch-up savings provisions for older workers and a ban on wearaway provisions in cash balance plan conversions.
May 5, 2000 (PLANSPONSOR.com) - Several federal agencies are reviewing whether plan sponsors provide early retirees with adequate information when faced with a choice between annuities and lump sum payouts, according to BNA Daily Labor Report.
October 4, 2000 (PLANSPONSOR.com) - Nearly five thousand pensioners have been reconnected with their "missing" pensions totaling some $10 million during the past year, thanks to the Pension Benefit Guaranty Corporation's (PBGC) Pension Search Directory.
May 3, 2000 (PLANSPONSOR.com) - Retirement plan balances may escape creditor clutches, after all. A controversial pension plan waiver provision will be removed from the pending bankruptcy reform bill, according to aides of Senators Charles Grassley (R-Iowa) and Jeff Sessions (R-Ala.). The provision would have allowed individuals to waive the current exemption that protects retirement plan assets from creditors, either while in bankruptcy, or as part of a loan agreement.
October 2, 2000 (PLANSPONSOR.com) - The General Accounting Office (GAO) is expected to issue a report urging the Internal Revenue Service to stop approving cash balance plans until their impact on retirement benefits can be determined.
December 1, 2000 (PLANSPONSOR.com) - The Pension Benefit Guaranty Corporation (PBGC) has announced changes to its premium regulations to make things easier for sponsors of defined benefit pension plans.
November 1, 2000 (PLANSPONSOR.com) - The Senate has once again put off a floor vote on HR 2614, the tax bill that contains pension reform legislation and several health care provisions.
November 1, 2000 (PLANSPONSOR.com) - It looks like Congress is going to wait until after the election to deal with pension reform, following the Senate's passage of a short-term spending bill.
September 1, 2000 (PLANSPONSOR.com) - The Internal Revenue Service has issued final regulations that permit defined contribution plans to eliminate some alternate forms of payment, as long as a lump sum option is available.