DOL Field Assistance Bulletins – 2008 Index

DOL Field Assistance Bulletins – 2008 Index

• Field Assistance Bulletin No. 2008-04 – EBSA issues guidance on fidelity bonding for employee benefit plans
• Field Assistance Bulletin No. 2008-03 – Guidance Regarding Qualified Default Investment Alternatives (29 CFR § 2550.404c-5)
• Field Assistance Bulletin No. 2008-02 – Wellness Program Analysis
• Field Assistance Bulletin No. 2008-01 – Fiduciary Responsibility for Collection of Delinquent Contributions
  

IRS Newsletters - 2008 Index

Employee Plans News
Geared toward retirement plan practitioners - attorneys, accountants, actuaries and others - this newsletter presents information about retirement plans.

• Employee Plans News - Winter 2009 Edition
• Employee Plans News - Special Edition, November 5, 2008
• Employee Plans News – Fall 2008 Edition
• Employee Plans News - Special Edition, September, 2008
• Employee Plans News - Special Edition, August 25, 2008
• Employee Plans News - Special Edition, August 14, 2008
• Employee Plans News - Special Edition, August 6, 2008
• Employee Plans News - Special Edition, July 1, 2008
• Employee Plans News - Summer 2008 Edition
• Governmental Plans Roundtable (April 22, 2008)
• Employee Plans News - Special Edition, April 2008
• Employee Plans News - Spring 2008 Edition
• Employee Plans News - Special Edition, March 11, 2008
• Employee Plans News - Special Edition, January 2008

Retirement News for Employers
Designed for employers and business owners, this newsletter provides practical retirement plan information.

• Retirement News for Employers - Special Edition, December 2008
• Retirement News for Employers - Fall 2008 Edition
• Retirement News for Employers - Special Edition, August 29, 2008
• Retirement News for Employers - Summer 2008 Edition
• Retirement News for Employers - Special Edition, August 14, 2008
• Retirement News for Employers - Spring 2008 Edition

Timing is Everything
“Timing is Everything” is a one-page flyer designed for employers to share with their employees and provides plain-language, bullet-point information about retirement.

• Timing is Everything

Treasury Regulations – 2008 Index

"Issued guidance regarding the Service's position with respect to how the Internal Revenue Code is to be interpreted. The provided materials relate specifically to retirement plans."

• Treasury Regulation - REG–100464–08 - Accrual Rules for Defined Benefit Plans - REG-100464-08. 73 Fed. Reg. 34665 (June 18, 2008) - These proposed regulations are applicable/effective for plan years beginning on or after January 1, 2009, and amend the accrued benefit requirements for hybrid defined benefit plans by adding a new paragraph (b)(2)(ii)(G) to section 1.411(b)-1. On your PPA'06 chart, they should be listed under section 701 of PPA'06 and under section 411(b) of the Code with the terms hybrid defined benefit plans and accrual rules.
  
• Treasury Regulation - REG-108508-08 - Determination of Minimum Required Pension Contributions - REG-108508-08, 73 Fed. Reg. 20203 (April 15, 2008) - These proposed regulations, on which taxpayers may rely for purposes of section 430 of the Code for plan years beginning in 2008, are the fourth in a series of proposed regulations under section 430 of the Code as added by PPA'06 as well as proposed regulations under section 4971 of the Code that, among other things, pertain to quarterly contributions and the excise tax on liquidity shortfalls.
  
• Treasury Regulation - REG-110136-07- Notice Requirements for Certain Pension Plan Amendments Significantly Reducing the Rate of Future Benefit Accrual - REG-110136-07, 73 Fed. Reg. 15101 (March 21, 2008)These proposed regulations, which reflect certain amendments made to section 4980F of the Internal Revenue Code by the Pension Protection Act of 2006, contain guidance relating to providing notices pursuant to section 4980F of the Code when, for example, a plan significantly reduces future benefit accruals (including a notice under the parallel provision of section 204(h) of the Employee Retirement Income Security Act of 1974).
  
• Treasury Regulation - REG–151135–07 - Multiemployer Plan Funding Guidance - REG-151135-07, 73 Fed. Reg. 14417 (March 18, 2008)These proposed regulations contain guidance relating to the notice provisions for multiemployer plans under section 432 of the Code as added by PPA'06 where the applicable defined benefit multiemployer plan is in endangered or in critical status.
  
• Treasury Regulation - REG–136701–07 - Diversification Requirements for Certain Defined Contribution Plans - REG-136701-07, 73 Fed. Reg. 421 (January 3, 2008) These proposed regulations relate to section 401(a)(35) of the Internal Revenue Code and pertain to certain defined contribution plans that hold publicly-traded stock of their employers.

IRS Revenue Rulings – 2008 Index

"A revenue ruling is an official interpretation by the Service of the Internal Revenue Code, related statutes, tax treaties, and regulations. It is the conclusion of the Service on how the law is applied to a specific set of facts. The provided materials relate specifically to retirement plans."

• IRS Revenue Ruling 2008-13 – Excessive Compensation
  
• IRS Revenue Ruling 2008-07 - Minimum Vesting Standards - Rev. Rul. 2008-7, 2008-7 I.R.B. 419 - This revenue ruling addresses the accrual rules and the "greater of" issue where there is an amendment of a traditional defined benefit formula in 2001 to a lump sum-based benefit formula for plan years beginning on or after January 1, 2002.

IRS Revenue Procedures – 2008 Index

"A revenue procedure is an official statement of a procedure that affects the rights of duties of taxpayers or other members of the public under the Internal Revenue Code, related statutes, tax treaties, and regulations that should be a matter of public knowledge. The provided materials relate specifically to retirement plans."

• IRS Revenue Procedure 2008-08 - Rulings and determination letters - Rev. Proc. 2008-8, 2008-1 I.R.B. 233 - This is the annual EP/EO revenue procedure on user fees.
  
• IRS Revenue Procedure 2008-06 - Rulings and determination letters - Rev. Proc. 2008-6, 2008-1 I.R.B.192 - This is the annual EP determination letter revenue procedure.
  
• IRS Revenue Procedure 2008-05 - Rulings and determination letters - Rev. Proc. 2008-5, 2008-1 I.R.B. 164 - This is the basic, annual EP/EO revenue procedure on technical advice.
  
• IRS Revenue Procedure 2008-04 - Rulings and determination letters - Rev. Proc. 2008-4, 2008-1 I.R.B. 121 - This is the basic, annual EP/EO revenue procedure on letter rulings.

IRS Announcements – 2008 Index

"An announcement is a public pronouncement that has only immediate or short-term value. For example, announcements can be used to summarize the law or regulations without making any substantive interpretation or to notify taxpayers of approaching filing deadlines. The provided materials relate specifically to retirement plans."

• Announcement 2008-44, 2008-20 I.R.B. - This announcement provides that individuals who have payments made by direct deposit under the Economic Stimulus Act of 2008 to their IRAs or certain other tax-favored accounts may remove the payments without incurring adverse tax consequences.
  
• IRS Announcement 2008-23 – Issuance of Opinion and Advisory Letters and Opening of the EGTRRA Determination Letter Program for Pre-Approved Defined Contribution Plans - Announcement 2008-23, 2008-14 I.R.B. 731 - This announcement provides guidance on the opening of the pre-approved defined contribution program for Cycle A plans.
  
• IRS Announcement 2008–2 – Election of Alternative Funding Schedule - Announcement 2008-2, 2008-3, I.R.B. 307 - This announcement provides a procedure and form that certain commercial passenger airlines may use to make an alternative funding schedule election under section 402(a)(2) of PPA'06 as amended by section 6615 of SWOTA'07.

IRS Notices – 2008 Index

"A notice is a public pronouncement that may contain guidance that involves substantive interpretations of the Code or other provisions of the law. For example, notices can be used to relate what regulations will say in situations where the regulations may not be published in the immediate future. The provided materials relate specifically to retirement plans."

• IRS Notice 2008-65 – Update for Weighted Average Interest Rates, Yield Curves, and Segment Rates - Notice 2008-65, 2008-30 I.R.B. - This notice contains updates for interest rates for funding requirements under sections 412(b)(5)(B) and 430(h)(2) of the Code applicable for July 2008, and updates for interest rates for minimum present value determinations under 417(e)(3) of the Code for June 2008.
  
• IRS Notice 2008-53 – Update for Weighted Average Interest Rates, Yield Curves, and Segment Rates - Notice 2008-53, 2008-26 I.R.B. 1188 - This notice contains updates for interest rates for funding requirements under sections 412(b)(5)(B) and 430(h)(2) of the Code applicable for June 2008, and updates for interest rates for minimum present value determinations under 417(e)(3) of the Code for May 2008.
  
• IRS Notice 2008-50 – Update for Weighted Average Interest Rates, Yield Curves, and Segment Rates - Notice 2008-50, 2008-21 I.R.B. 1010 - This notice contains updates for interest rates for funding requirements under sections 412(b)(5)(B) and 430(h)(2) of the Code applicable for May 2008, and updates for interest rates for minimum present value determinations under 417(e)(3) of the Code for April 2008.
  
• IRS Notice 2008-45 - Update for Weighted Interest Rates, Yield Curves, and Segment Rates - Notice 2008-45, 2008-17 I.R.B. 835 - This notice contains updates for interest rates for funding requirements under sections 412(b)(5)(B) and 430(h)(2) of the Code applicable for April 2008, and updates for interest rates for minimum present value determinations under 417(e)(3) of the Code for March 2008.
  
• IRS Notice 2008-37 - Update for Weighted Average Interest Rates, Yield Curves, and Segment Rates - Notice 2008-37 2008-12 , I.R.B. 654 - This notice contains updates for interest rates for funding requirements under sections 412(b)(5)(B) and 430(h)(2) of the Code applicable for March 2008, and updates for interest rates for minimum present value determinations under 417(e)(3) of the Code for February 2008.
  
• IRS Notice 2008-30 - Miscellaneous Pension Protection Act Changes - Notice 2008-30, 2008-12 I.R.B. 638 - This notice provides guidance in the form of questions and answers with respect to certain distribution-related provisions of PPA’06, that are effective in 2008 (as well as gap-period earnings).
  
• IRS Notice 2008-29 - Alternative Disability Mortality Tables – Continued Reliance on Revenue Ruling 96-7 - Notice 2008-29, 2008-12 I.R.B. 637 - This notice states that pending further guidance, for purposes of section 430(h)(3)(D) and section 431(c)(6)(D)(v), taxpayers may continue to rely on the mortality tables in Rev. Rul. 96-7, 1996-1 C.B. 59, for the alternative mortality tables for disabled participants in qualified defined benefit pension plans.
  
• IRS Notice 2008-24 - Update for Weighted Average Interest Rates, Yield Curves, and Segment Rates - Notice 2008-24, 2008-8, I.R.B. 466 - This notice contains updates for interest rates for funding requirements under sections 412(b)(5)(B) and 430(h)(2) of the Code applicable for February 2008, and updates for interest rates for minimum present value determinations under 417(e)(3) of the Code for January 2008.
  
• IRS Notice 2008-23 - Supplemental Health Insurance Coverage as Excepted Benefits Under HIPAA and Related Legislation
  
• IRS Notice 2008-21 – Transition Guidance for New Funding Rules and Funding-Related Benefit Limitations under PPA ‘06 - Notice 2008-21, 2008-7, I.R.B. (January 31, 2008) - This notice extends the effective date of certain proposed regulations and establishes a 2008 transitional rule for small defined benefit plans with end-of the-year valuations.
  
• IRS Notice 2008-17 - Update for Weighted Average Interest Rates, Yield Curves, and Segment Rates - Notice 2008-17, 2008-4, I.R.B. 316 - This notice contains updates for the corporate bond weighted average interest rate for plan years beginning in January 2008, 24-month average segment rates, and funding transitional segment rates applicable for January 2008.
  
• IRS Notice 2008-8 - Information Reporting Requirements Under Internal Revenue Code § 6039
  
• IRS Notice 2008-7 - Extension of Transitional Relief for Diversification Requirements for Certain Defined Contribution Plans - Notice 2008-7, 2008-3, I.R.B. - This notice extends certain transitional relief under 401(a)(35) of the Code for certain defined contribution plans that hold publicly-traded stock of their employers.

DOL Final Regulations – 2008 Index

• DOL Final Regulation - Amendments to Safe Harbor for Distributions From Terminated Individual Account Plans and Termination of Abandoned Individual Ac
• DOL Final Regulation - Amendments to Interpretive Bulletin 95-1
• DOL Final Regulation - Selection of Annuity Providers - Safe Harbor for Individual Account Plans
• DOL Final Regulation - Statutory Exemption for Cross-Trading of Securities

Historical Links

• DOL Final Regulations – 2007 Index

DOL Proposed Regulations/DOL News – 2008 Index

DOL Proposed Regulations

The purpose of DOL proposed regulations is "to give interested persons an opportunity to participate in the rule making prior to the adoption of the final rules."

• DOL Proposed Regulation - Hearing on Reasonable Contracts or Arrangements Under Section 408(b)(2)--Fee Disclosure
• DOL Proposed Regulation – Fiduciary Requirements for Disclosure in Participant-Directed Individual Account Plans
• DOL Proposed Regulation – Model Notice of Multiemployer Plan in Critical Status
• DOL Proposed Regulation – Amendment of Regulation Relating to Definition of ‘‘Plan Assets’’ Participant Contributions
• DOL Proposed Regulation - Hearing on Reasonable Contracts or Arrangements Under Section 408(b)(2)--Fee Disclosure

DOL News

The purpose of DOL News is to provide links to DOL related news that is not in the format of a DOL final regulation, DOL proposed regulation, or a DOL field assistance bulletin.

• DFVCP Penalty Calculator and Online Payment/Actuarial Information Search
• DOL Website Provides Updated Contact Information for Hurricane Victims
• DOL Official Testifies on Fee Disclosures
• DOL and SEC Announce Memorandum of Understanding (MOU)
• DOL Issues 40-FAQs About IRS Form 5500 – Schedule C
• DOL Testifies About Employer-Sponsored IRAs
• The DOL Announces Disaster Relief after Severe Weather Hits
• Report Of The Working Group On Participant Benefit Statements
• IRS Form 5500 Filing Update Web Cast
• IRS Form 5500 Extension after Severe Weather Hit Kentucky
• Agenda and Testimony Requests and Outlines for Hearing on Reasonable Contracts or Arrangements Under Section 408(b)(2)--Fee Disclosure
• DOL Notice - Hearing on Reasonable Contracts or Arrangements Under Section 408(b)(2)--Fee Disclosure

Historical Links

• DOL Proposed Regulations/DOL News – 2007 Index

DOL Proposed Regulations/DOL News – 2007 Index

DOL Proposed Regulations

The purpose of DOL proposed regulations is "to give interested persons an opportunity to participate in the rule making prior to the adoption of the final rules."

DOL Proposed Regulation – Civil Penalties Under ERISA Section 502(c)(4) (Dec 19, 2007)
This proposed rule is for assessing civil penalties against plan administrators who fail to disclose certain documents to participants, beneficiaries and others as required by the Employee Retirement Income Security Act, as amended by the Pension Protection Act (PPA).
LINKS: [HTML] [PDF] [News Release]

DOL Proposed Regulation - Reasonable Contract or Arrangement Under Section 408(b)(2)--Fee Disclosure (Dec 13, 2007)
This proposed rule will enhance disclosure to fiduciaries of 401(k) and other employee benefit plans to assist them in determining the reasonableness of compensation paid to plan service providers and conflicts of interest that may affect a service provider's performance under a service contract or arrangement.
LINKS: [HTML] [PDF] [News Release] [Fact Sheet] DOL Notice [HTML] DOL Notice [PDF]

DOL Proposed Regulation - Multi-Employer Pension Plan Information Made Available on Request (Sep 14, 2007)
This proposed rule provides guidance giving participants in multiemployer pension plans, their union representatives and contributing employers the right to request and receive copies of certain actuarial, financial and other funding-related documents from their plans. The new disclosure rules implement provisions of the Pension Protection Act of 2006 (PPA).
LINKS: [HTML] [PDF] [News Release] [Comments]

DOL Proposed Regulation - Selection of Annuity Providers for Individual Account Plans (Sep 12, 2007)
This proposed rule provides guidance, in the form of a safe harbor, for the selection of annuity providers by fiduciaries for benefit distributions from individual account plans, such as 401(k) plans.
LINKS: [HTML] [PDF] [News Release]

DOL Proposed Regulation - Amendments to Civil Penalties Under ERISA Section 502(c)(7) (Aug 10, 2007)
This proposed rule is a companion to the direct final rule the civil penalty regulation to reflect recent amendments by the Pension Protection Act of 2006.
LINKS: [HTML] [PDF] [News Release]

DOL Proposed Regulation - Fee and Expense Disclosures to Participants in Individual Account Plans (Apr 25, 2007)
This is a "request for information" (RFI) to assist the department in improving information provided to an estimated 41 million participants about administrative and investment fees and expenses charged to 401(k)-type plans.
LINKS: [HTML] [PDF] [News Release]
EBSA Testimony Before House Committee on Education & Labor

DOL News

The purpose of DOL News is to provide links to DOL related news that is not in the format of a DOL final regulation, DOL proposed regulation, or a DOL field assistance bulletin.

DOL Offers Online DFVCP Penalty Calculator
LINKS: [HTML] [News Release]

DOL Releases Advance Copies of 2007 Form 5500
LINKS: [HTML] [News Release]

DOL Launches Interactive Web Tool to Help Employers Comply with Retirement Laws
LINKS: [HTML] [News Release]

DOL Final Regulations – 2007 Index

DOL Final Regulation - Annual Reporting and Disclosure (Nov 16, 2007)
This final rule, along with a notice of adoption of revisions, contains revisions to the Form 5500 Annual Return/Report for plan year 2009, including a deferral for one year of the move to the wholly electronic filing system.
LINKS: [HTML] [PDF] [News Release] [Fact Sheet] DOL Notice [HTML] DOL Notice [PDF]

DOL Final Regulation - Default Investment Alternatives Under Participant-Directed Individual Account Plans (Oct 24, 2007)
This regulation implements PPA provisions providing relief to plan fiduciaries who invest the assets of participants who do not provide investment direction (such as automatically enrolled workers) in "qualified default investment alternatives" or QDIAs. The QDIAs described in the rule will encourage the investment of employee assets in investment vehicles appropriate for long-term retirement savings.
LINKS: [HTML] [PDF] [News Release] [Fact Sheet]

DOL Final Regulation - Amendment to Interpretive Bulletin 95-1 (Sep 12, 2007)
This interim final rule amends Interpretative Bulletin 95-1 to limit the application of the bulletin to the selection of annuity providers for benefit distributions from defined benefit plans. This amendment will affect plan sponsors and fiduciaries of individual account plans, and the participants and beneficiaries covered by such plans.
LINKS: [HTML] [PDF] [News Release]

DOL Final Regulation - Amendments to Civil Penalties Under ERISA Section 502(c)(7) (Aug 10, 2007)
This is a direct final rule amending the civil penalty regulation to authorize the Secretary of Labor to assess civil penalties not to exceed $100 per day for each violation of section 101(m) of ERISA, which requires plan administrators of individual account plans to notify participants and beneficiaries of their right to sell the company stock in their accounts and reinvest the proceeds into other investments available under the plan. The notice must also inform the recipients of the importance of diversifying the investments in their accounts.
LINKS: [HTML] [PDF] [News Release]

DOL Final Regulation - Time and Order of Issuance of Domestic Relations Orders (DROs) (Mar 7, 2007)
This is an interim final rule that provides guidance to plan administrators, service providers, participants, and alternate payees on the qualified domestic relations order (QDRO) requirements under ERISA.
LINKS: [HTML] [PDF] [News Release]

DOL Final Regulation - Amendments to Safe Harbor for Distributions From Terminated Individual Account Plans and Termination of Abandoned Individual Account Plans To Require Inherited Individual Retirement Plans for Missing Nonspouse Beneficiaries (Feb 15, 2007)
This is an interim final rule amending regulations under ERISA that provide guidance and a fiduciary safe harbor for the distribution of benefits on behalf of participants or beneficiaries in terminated and abandoned individual account plans.
LINKS: [HTML] [PDF] [News Release]

DOL Final Regulation - Statutory Exemption for Cross-Trading of Securities (Feb 12, 2007)
This is an interim final rule regarding the new statutory exemption on cross-trading in the Pension Protection Act (PPA).
LINKS: [HTML] [PDF] [News Release]

DOL Final Regulation - Electronic Filing of Annual Reports (Jul 21, 2006)
This is a final rule establishing an electronic filing requirement for certain annual reports required to be filed with the Department of Labor by plan administrators and other entities.
LINKS: [HTML] [PDF] [News Release]

DOL Field Assistance Bulletins – 2007 Index

DOL Field Assistance Bulletins – 2007 Index

DOL FAB 2007-03 Periodic Pension Benefit Statements for Non-Participant Directed Individual Account Plans
This guidance supersedes the guidance provided in FAB 2006-03 as it relates to the dates for furnishing pension benefit statements to participants and beneficiaries of individual account plans that do not permit participants and beneficiaries to direct the investment of assets in their individual accounts.
LINKS: [HTML] [PDF] [News Release]

• EBSA Revises Guidance on Timing of Certain Benefit Statements
• Compensation and Benefits Report: DOL Revises Timing of Participant Benefit Statements
• DOL Guidance on Benefit Statement Good Faith Compliance
• DOL Extends Deadline for Trustee-Directed Plans to Provide Benefit Statements
• EBSA extends time for non-participant directed individual account plans to provide benefit statements
• Extension of Date for Certain Individual Account Plans to Provide Individual Benefit Statements

DOL FAB 2007-02 ERISA Coverage Of IRC § 403(b) Tax-Sheltered Annuity Programs (Jul 24, 2007)
Guidance related to 403(b) tax-sheltered annuity programs and the Department of Labor's safe harbor regulation.
LINKS: [HTML] [PDF] [News Release]

DOL FAB 2007-01 Statutory Exemption For Investment Advice (Feb 2, 2007)
Guidance relating to the investment advice provisions of the Pension Protection Act of 2006.
LINKS: [HTML] [PDF] [News Release]

DOL FAB 2006-03 Periodic Pension Benefit Statements - PPA (Dec 20, 2006)
Interim guidance relating to individual benefit statements and notices of freedom to divest employer securities pursuant to the Pension Protection Act of 2006.
LINKS: [HTML] [PDF] [News Release]