The IRS has announced the 2015 pension plan limits, including the following:
The end of the year is approaching. Here is a list of items to make sure you have addressed before the end of the year.
The Cycle C2 submission deadline for an ESOP Determination Letter is January 31, 2014. Here is a quick review of the process.
Congress has passed over 100 major pieces of employee benefit legislation since ERISA. Chronological Summary of Major Post-ERISA Benefit Legislation provides a summary of the major employee benefits legislation:
The IRS has announced the 2014 pension plan limits, including the following:
Uncertainty for ESOP companies contemplating Converting from C Corporation to S Corporation continues. One of the factors in considering a change is that assets sold within a period after the conversion from a C Corporation to an S Corporation may be subject to the IRC Section 1374 – Built-In Gains (BIG) Tax. The holding period or “recognition period” depends on the year of the disposal of assets.
The IRS has announced the 2013 pension plan limits, including the following:
You may have an ESOP or work with a company where the employer has suspended contributions to the plan. While an employer is not required to contribute to a plan each year, contributions must be recurring and substantial. To the extent the ESOP has “complete discontinuance” of contributions, the plan is treated as terminated for vesting purposes and affected employees must become 100% vested, as stated in IRC Section 411(d)(3).