Today’s Federal Register contains proposed Internal Revenue Code section 401(k) and 401(m) regulations and final regulations pertaining to Internal Revenue Code section 419A(f)(6) plans. There will be more discussion of these regulations later . . .
The Federal Register also contains final regulations relating to a qualified subchapter S trust election for testamentary trusts under section 1361 of the Internal Revenue Code.
Bloomberg.com provides this report: “Warren Buffett Says That Pension Accounting Encourages Cheating.”
Mary Deibel with Scripps Howard News Service for the Albuquerque Tribune Online reports: “Proposed changes in pension plans draw fire.“
“Ernst Clients Face IRS Audits Over Stock Option Tax Shelters” reports Bloomberg.com.
Jill Elswick for BenefitsNews.com reports: “No Fun with Funds.” The article tells us that according to the Profit Sharing/401(k) Council of America some 36% of plans do not have an investment policy statement. The article also provides some practical information for ERISA plan fiduciaries on techniques for retiring poorly performing 401(k) options.
Another good article from BenefitNews.com: “Auto rebalancing simplifies 401(k) asset reallocation.” The article explains how automatic rebalancing is being added as a feature to 401(k) plans to help participants in meeting their investment goals. And this article from BenefitNews.com also reports on what many practitioners have known for a long time: “Workers and employers badly informed about retirement saving.”