Pension News

• The 2011 Edition of The ERISA Outline Book is available!
• The 2011 Annual Hawaii Seminar is at the Outrigger Reef on the Beach in Honolulu, Hawaii, on Wednesday, November 16 through Friday, November 18. Register today!
• Our quarterly newsletter, ERISA Views, Fall 2011 - Issue #63, examines the second amendment cycle for individually-designed plans and for pre-approved plans (M&P plans and VS plans). During the next five years, all plans will be restating again and, in many cases resubmitting for new determination letters. Also, pre-approved plans need to re-apply for new opinion letters or advisory letters, either during the 12-month period ending January 31, 2012, in the case of pre-approved defined contribution plans or the 12-month period ending January 31, 2014, in the case of pre-approved defined benefit plans. Recently, IRS issued Rev. Proc. 2011-49, which governs the approval procedures for pre-approved plans during this second amendment cycle.
  
  To order a subscription to ERISA Views, click here. If you would prefer to receive just the latest issue, please complete Part I of the newsletter order form, print out the order form and then: (1) fax it (303-265-9100), (2) scan it and send it by e-mail (or, in lieu of scanning, include all of the information on the order form in the body of an email) to tripensionservices@gmail.com, or (3) mail your order to:

   

  TRI Pension Services
  Attn: Technical Assistance Registration
  1550 Larimer St., #423
  Denver, CO 80202

• eRISA Update (Quarterly Current Developments Service):
  eRISA Update is an electronic current developments service, providing comprehensive summaries of all the important developments in the retirement plan area. The latest issue, Fall 2011 (Issue #36), features summaries of:
  • DOL’s extension of the transition period for providing the initial fee disclosures to participants in participant-directed defined contribution plans
  • One “last” delay by the DOL of the service provider fee disclosure regulations to April 1, 2012
  • DOL guidance on furnishing participant fee disclosures through electronic media
  • DOL’s withdrawal of its proposed fiduciary definition regulations with plans to re-propose in 2012
  • Revised Form 5558 to accommodate extensions for Form 8955-SSA filings
  • Proposed regulations and an IRS notice updating information about PTINs, the competency exam for registered tax return preparers, and fingerprinting
  • Expanded relief from the PBGC on late premium penalties and “Box 5" errors relating to the alternative premium funding target election
  • DOL clarification that PTE 86-128 applies to investment advice fiduciaries
  • Voluntary correction program announced by the IRS relating to improper employee classifications and a news release touting enforcement coordination between the IRS and the DOL on employment classification issues
  • Release of Form 5316 for determination rulings on group trusts
  • New notice requirement for private letter ruling requests involving nonelecting church plans
  • Seventh Circuit case recognizing the validity of a spousal consent witnessed by the participant in his capacity as the plan representative
  • Fifth Circuit case ruling that a plan administrator has no obligation nor authority to question the validity of a divorce recognized by a State court
  • D.C. Circuit case requiring a defined benefit plan to pay interest on lump sums paid 45 days after the annuity starting date
  • Seventh Circuit case upholding an employer’s decision to reverse the termination of its defined benefit plan without violating the anti-cutback rule
  • Second Circuit case ruling that attorney’s fee awards to successful defendants are appropriate only when there is evidence of bad faith on the part of the plaintiffs
  To order eRISA Update, click here and follow the instructions to print out an order form. If you would prefer to receive just the latest issue, please complete Part I of the newsletter order form, print out the order form and then: (1) fax it (303-265-9100), (2) scan it and send it by e-mail (or, in lieu of scanning, include all of the information on the order form in the body of an email) to tripensionservices@gmail.com, or (3) mail your order to the TRI Pension Services address shown above.