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USA - January 29 2013
New rules affecting ERISA-covered retirement plans entering into swap transactions will come into effect in May 2013. These rules, known as the…
USA - October 29 2012
The IRS recently issued two Private Letter Rulings (PLR 201228045 and PLR 201228051) addressing whether the minimum distribution requirements of Section 401(a)(9) of the Internal Revenue Code (the “Code”) would be violated by a company if it amended its defined-benefit pension plans to offer a lump sum payment option, during a limited “window” period, to the plans’ participants and beneficiaries for whom annuity payments had already begun.
USA - July 26 2012
On May 31, 2012, the U.S. Court of Appeals for the First Circuit, in Commonwealth of Massachusetts v. United States Department of Health and Human Services, et., al., held that Section 3 (“Section 3”) of the Defense of Marriage Act (“DOMA”), which defines “marriage” for purposes of federal law as “a legal union between one man and one woman as husband and wife,” is unconstitutional.
USA - May 29 2012
In 2009, the US Supreme Court provided a roadmap for plan administrators to follow when determining the proper beneficiary under an ERISA-covered employee benefit plan.
USA - January 31 2012
The IRS this past September announced the new Voluntary Classification Settlement Program, or “VCSP,” which provides partial federal employment tax relief for an employer that uses the program to prospectively treat misclassified workers as employees for employment tax purposes.
