IRS issues reminder to employers of the savers tax credit *

USA - December 18 2012
On December 13 the IRS issued an Information Release reminding employers and individuals of the availability of the "Saver's Credit" for 2012.

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IRS announces 2013 cost-of-living adjustments to benefit plan limits *

USA - October 19 2012
The Internal Revenue Service has released the 2013 cost-of-living adjustments for compensation and benefit limits related to retirement plans.

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NYSE and NASDAQ propose rules regarding independence of compensation committees and advisors *

USA - October 16 2012
Our sister blog, Dodd-Frank.com, recently published summaries of the respective proposed rules for public companies issued by the New York Stock Exchange and the NASDAQ in entries on September 25 and September 26.

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Certain employment and severance agreements may need to be amended by 12/31/12 to avoid 409A penalties *

USA - September 5 2012
In IRS Notice 2010-6 and Notice 2010-80, the IRS expanded rules outlined in the 2007 Final Regulations under Code Section 409A to describe a potential violation of that Section where certain severance type payments are made upon the execution of a release (or the expiration of a statutory rescission period).

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IRS announces suspension of the lost participant letter forwarding program *

USA - September 5 2012
On August 31, 2012, the IRS issued Rev. Proc. 2012-35 and a related press release announcing that effective immediately, the IRS will no longer forward letters on behalf of plan sponsors or administrators of qualified retirement plans to assist in locating missing participants and beneficiaries of vested pension benefits.

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