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December 6, 2007
PPA Notices…Re-Visited Again!
The IRS and Treasury have been busy issuing guidance that will assist plan sponsors in their efforts to make certain retirement plans remain qualified.
IRS Issues Model 403(b) Plan
In July, 2007, the final 403(b) regulations were issued. These regulations require that all 403(b) plans be governed by a written plan document. Often, plans exempt from ERISA have not maintained a written plan document governing their programs.
Enforcement of Revised Form I-9
The US Citizenship and Immigration Services (USCIS) recently announced that all US employers must begin using a revised Form I-9 for all newly hired employees, and for all employees whose status requires re-verification. The I-9 Form has been revised to bring it into compliance with existing regulations. According to USCIS, this new form is the only form that should be used, beginning on or after 11/7/07. If this Form is not used after 12/26/07, then penalties may be assessed.
November 5, 2007
PPA Notices Re-visited
Qualified Default Investment Alternatives
Medicare Part D Notice: Don't Forget!
2008 Cost of Living Adjustments
2008 Retirement Plan COLAs
Delay of 409A Implementation
The IRS recently issued Notice 2007-86, which extends thedeadline for compliance with 409A rules until December 31, 2008.
October 9, 2007
Health Care Reform and the 2008 Presidential Campaign
As the Presidential campaign begins to heat up, the candidates are sharpening their pencils in designing health care reform proposals. While it is far too early to surmise how these proposals might be sculpted, there are a couple nonpartisan websites that are following the candidate’s proposals, such as Kaiser Family Foundation’s health08.org and its list of resources, as well as the New York Times.
Medicare Premiums and Deductibles for 2008
The Centers for Medicare and Medicaid Services have released the Medicare premium and deductible amounts for 2008.
Time Now for New Massachusetts Filings by Employers
The Massachusetts health care reform law passed last year requires employers who employ 11 or more full-time equivalent employees in the Commonwealth to accomplish certain filings between October 1st and November 15th of each year. The first filing period is upon us.