Bloomberg BNA's Pension & Benefits Blog is a special resource offered by Bloomberg BNA to provide commentary and insight on news and trends reported in our publications: Pension & Benefits Daily, Pension & Benefits Reporter, and the Benefits Practice Resource Center. The authors of the blog are members of our Pension & Benefits Publications Advisory Board and members of staff (who contribute summaries of some of their recent stories).
The ideas presented here are those of individuals, and Bloomberg BNA bears no responsibility for the appropriateness or accuracy of the communications between group members. We reserve the right not to post comments that are abusive or otherwise objectionable.
Communications regarding the Pension & Benefits Blog may be directed to Dana Domone via e-mail to ddomone@bna.com.
Tuesday, March 12, 2013
by Florence Olsen
Two officials of IRS Employee Plans have teamed up with Alston & Bird and Bloomberg BNA to share the important details of the Employee Plans Compliance Resolution System that was updated in Revenue Procedure 2013-12, effective April 1.
Pension & Benefits Daily reporter Florence Olsen has written a special report in conjunction with the videos, “Retirement Plan Sponsors Navigate New IRS Procedures in Correcting Plan Failures.”
In Part 1 of the video series, Joyce Kahn gives an overview of the EPCRS program that plan sponsors may use to correct voluntarily those errors that could cause a retirement plan to become disqualified and lose its tax-exempt status.
In Part 2, Monika Templeman goes into greater detail on the EPCRS correction program changes for Section 403(b) plans, covering transition audit relief, among other things.
In Part 3, Monika Templeman describes the elimination of IRS’s letter forwarding program for plan sponsors trying to find missing participants, and the effect of this and other changes on plan audits and examinations.
Subscribers to Bloomberg BNA’s Benefits Practice Resource Center also have access to the videos in the BNA Video Insights.
You must Sign In or Register to post a comment.
Fiduciary Rule May Not Appear Until Spring, 408(b)(2) Guide Out Soon, Attorneys Say
ERISA Advisory Council to Recommend Updated Guidance On Finding Lost, Missing Plan Participants
Groups Say Lifetime Income Guidance Should Be Flexible, Provide Protections
Guidance Provides Administrative Relief On Spousal Benefit Issues, Practitioners Say
Should Employers Pay or Play? Podcast by Littler Mendelson Attorneys Steven Friedman and Ilyse Schuman