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U.S. Master™ Pension Guide, 2009 Edition
Revised for 2009 to include relevant provisions of the Heroes Earnings Assistance Relief Tax (HEART) Act and the Emergency Economic Stabilization Act.

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CCH® PENSION AND BENEFITS — 5/05/08

IRS updates 2007-2008 Priority Guidance Plan

The Treasury Department and IRS have issued the first periodic update to the 2007-2008 Priority Guidance Plan, which details the guidance action items for the current fiscal year, as well as regularly scheduled guidance.

Retirement plan guidance

The action items for 2007-2008 affecting retirement plans that are still outstanding include the following:

• Guidance regarding the treatment of incidental health insurance benefits provided under a profit-sharing or stock bonus plan.
• Update of Employee Plans Compliance Resolution System (EPCRS).
• Proposed regulations under Code Sec. 401(a) (9) on required minimum distribution rules for governmental plans, as directed by the Pension Protection Act of 2006 (PPA; P.L. 109-280).
• Update of the model notice under Code Sec. 402(f) relating to eligible rollover distributions.
• Final regulations on converting an IRA annuity to a Roth IRA annuity.
• Proposed regulations under Code Sec. 411(a) (11) to provide a description of the consequences of failing to defer, as directed by the PPA.
• Final regulations on the funding of single employer plans under Code Sec. 430 , as added by the PPA.
• Proposed regulations on accrual rules for defined benefit plans.

Health and executive comp guidance

Guidance planned for 2007-2008 in the health care and executive compensation areas to be completed includes:

• Proposed regulations under Code Sec. 409A on the calculation of income inclusion and additional taxes.
• Update of regulations under Code Sec. 423 regarding employee stock purchase plans.
• Guidance on discrete issues on Health Savings Accounts (HSAs).
• Notice regarding rollovers from an IRA to an HSA.