401K Advisor articles from April 2002

401K Advisor archives from April 2002

Catch-up contributions impact deferral testing for HCs.(highly compensated employees)(Brief Article)(Statistical Data Included)
April 1, 2002... The new catch-up regulations are a hoot. They can be as much fun to discuss as the original Section 89 nondiscrimination regulations for welfare plans. Those Section 89 regulations were quickly withdrawn after employers, advisors, and the...

Wrestling with the deduction limits: Part two.(family owned businesses, 401K plan management)(Illustration)(Statistical Data Included)
April 1, 2002... In last month's issue of 401(k) Advisor, we discussed the potential problems when certain small employers attempt to maximize their profit-sharing contributions for a business owner with compensation of less than $160,000. In many cases, the...

Whose lawyers are we? How the attorney-client privilege applies to employee benefit plans. (Document Update).
April 1, 2002... Sometimes, clients half-jokingly ask their benefits attorney, "You re going to keep me out of jail aren't you?" Well, we usually strive for a higher standard than merely to keep our clients out of jail but one of the most fundamental aspects...

Mutual fund expenses: through the looking-glass: Part I. (Investment Corner).
April 1, 2002... ERISA governs the conduct of plan fiduciaries, and, among their duties is to act for the exclusive purpose of providing benefits to plan participants and their beneficiaries and defraying reasonable expenses of administering the plan [ERISA...

Plan administrators need to assess new audit requirements. (Q&A).
April 1, 2002... From an interview with W. Leon Smith, FSA, MAAA, EA A large number of small plans will be required to provide a CPA's audited report with their 2002 Form 5500. The new DOL regulations apply to small plans that hold assets that do not meet...

Long-awaited tax relief and technical corrections arrive. (Matthews on 401(k)).
April 1, 2002... Add JCWAA (pronounced jack-wah) to your lexicon of tax acronyms. This new tax law, H.R. 3090, also titled the Job Creation and Worker Assistance Act of 2002 (JCWAA), was signed into law on March 9, 2002 and has caught many tax advisors and...

Regulatory and judicial update.(Brief Article)
April 1, 2002... REGULATORY AND JUDICIAL UPDATE Item Statement Status No more 29 CFR Section 2560.503-1 New regulations "deemed denial" The final ERISA apply to claims of benefit...

Building futures, volume III: company stock and 401(k) plans: fidelity investments, March 2002. (Industry Insights).(Brief Article)(Statistical Data Included)
April 1, 2002... Editor's Note: In this report, Fidelity Institutional Retirement Services Company (FIRSCo) takes an in-depth look at the role of company stock in 401(k) plans and other corporate defined contribution plans for which FIRSCo provides...

Common 404(c) mistakes. (Last Word On 401(k) Plans).(Brief Article)
April 1, 2002... In our December 2001 article, we explained that the only way for investment fiduciaries (e.g., plan committee members or corporate officers who select a plan's investments) to avoid responsibility for participant investment decisions is to...