SAL TRIPODI - TRI Pension Services
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Pension News

  • The 2018 Print Edition of The ERISA Outline Book can be ordered now. Use the same link to subscribe to a year of the Online Edition.
  • The 2018 Annual Hawaii Seminar is at the Hilton Hawaiian Village in Honolulu, Hawaii, will be held on Wednesday, November 14 through Friday, November 16, 2018. Registration will open in April!
  • 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 following is a description from the latest issue,Winter 2017/2018.
    Legislative Update. (1) an extension of the 60-day rollover period granted by the TCJA for loan offsets triggered by termination of employment or termination of the plan, (2) the elimination of the recharacterization to reverse the tax consequences on a Roth IRA conversion (TCJA change), (3) changes made by the TCJA to income determinations that could affect section 415 compensation and IRA-eligible compensation for certain individuals, (4) Congressional tax relief for Hurricanes Harvey, Irma and Maria, and for disasters occurring in 2016 (the former in a bill enacted in September 2017 and the latter as part of the TCJA), (5) a new requirement for multiple unrelated trades or businesses maintained by the same tax-exempt organization to compute UBTI separately (TCJA change), (6) changes made by the TCJA to the definition of a covered employee under IRC §162(m) that could affect payouts under some nonqualified deferred compensation, (7) the creation of a new tax deferral election under IRC §83(I) for “qualified equity grants” (TCJA change)
    IRS/Treasury Update. (1) the announcement of the 2018 dollar limitations, (2) expansion by the IRS of 2017 disaster relief to cover Hurricane Maria and the California Wildfires, (3) the annual update of the IRS’ revenue procedure governing applications for private letter rulings and determination letters, and associated user fees (which includes a new fee structure for VCP submissions based on the assets of the plan), (4) the 2017 Required Amendments List for individually-designed plans, (5) a field directive by the IRS Chief Counsel regarding a plan’s failure to make required minimum distributions (RMDs) to missing participants and beneficiaries, (6) treatment of 2016 contributions as timely if made by deadline that would have applied to the employer had the tax return deadlines not been changed by 2015 legislation, (7) static mortality tables for 2019, (8) an IRS Chief Counsel memorandum on whether certain arrangements under a retirement income account under IRC §403(b)(9) satisfies the exclusive benefit rule with respect to indirect loans benefiting the employer
    DOL Update. (1) expansion by the IRS, the DOL, and the PBGC of 2017 disaster relief to cover Hurricane Maria and the California Wildfires, (2) the DOL’s finalization of its proposal to delay until July 1, 2019, most of the conditions under the Best Interest Contract Exemption for investment advice fiduciaries, (3) proposal by the DOL to expand the definition of an employer solely for purposes of the maintenance of group health plans, in order to expand the marketplace for group health coverage, (4) final adoption by the DOL of a delay to new disability claims regulations until April 1, 2018, (5) the annual adjustment by the DOL and the PBGC of certain civil penalties under Titles I and IV of ERISA,
    PBGC Update. (1) expansion by the IRS, the DOL, and the PBGC of 2017 disaster relief to cover Hurricane Maria and the California Wildfires, (2) the annual adjustment by the DOL and the PBGC of certain civil penalties under Titles I and IV of ERISA
    Litigation Update. (1) a court case from the Sixth Circuit adopting a “clearly specifies” test to the analysis of whether an order (including a divorce decree) can satisfy the definition of a QDRO, (2) a case from the Ninth Circuit requiring its lower courts to look at litigation in its entirety in determining whether to award attorney’s fees for appellate litigation, (3) another installment in the “church plan saga where the Tenth Circuit analyzes the definition of a “principal purpose organization” for church plan purposes, concluding that a retirement plan subcommittee can qualify as such, (4) an Eleventh Circuit case allowing the 6-year statute of limitations under ERISA §413 to be waived by a fiduciary.
    Order information. To order eRISA Update, click here and follow the instructions to print out an order form. You also may order the latest issue for $75 by completing Part 1 of the newsletter order form, print out the order form and then: (1) fax it (303-265-9100) (only if paying by credit card), or (2) mail your order to the TRI Pension Services address shown above (either with check enclosed or credit card information provided on the order form).

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