Posts Tagged "Al Martin"


Treasury Regulation 1.411(d)-6, issued December, 1998, provides that when benefit accruals in a defined benefit plan are “significantly” reduced because of a plan amendment, or a plan amendment to a defined contribution pension plan “significantly” reduces future employer contributions, then a 15-day notice of a reduction in accrual/benefits must be issued before the amendment, or a plan termination, can become...

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Choosing whether to purchase long-term care insurance may be one of the most important decisions a person makes during his or her life time. Long-term care provides the help an individual needs in the unlikely event they are unable to care for themselves because of a prolonged illness or disability. Long-term care differs from traditional medical care in that, medical care serves to rehabilitate or correct certain medical problems,...

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I. Overview. On January 31, 2003, the Bush Administration proposed two new tax-advantaged savings programs plus a reorganization of the defined contribution plan rules. This follows the Administration’s earlier proposal to end the double taxation of dividends. The savings proposals, if enacted, would rewrite many of the rules under which employers and employees save for retirement. It is not clear at this time to which...

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As you know, a 401(k) plan permits employees to elect to contribute (an “elective deferral”) a portion of their compensation to the employer’s retirement plan rather than receiving the compensation. Deferring compensation to the plan postpones state and federal income tax on the deferrals and also permits the deferrals to grow on a pre-tax basis in the plan. Like all qualified retirement plans, 401(k) plans cannot...

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