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CCH® PENSION — 09/21/11

2011-2012 IRS Priority Guidance Plan includes many employee benefits projects

Numerous employee benefits projects are included in the IRS's 2011-2012 Priority Guidance Plan. The Plan describes areas in which the IRS intends to issue final regulations, proposed regulations, and other guidance, including regularly scheduled guidance, such as interest rates and COLAs. Some of the guidance projects have already been completed.

Regs slated to be finalized

In the retirement benefits area, the IRS plans to deliver final regulations on:

• suspension or reduction of safe harbor contributions under Code Sec. 401(k) and (m);
• treatment of incidental benefits provided under a qualified plan;
• distributions from designated Roth accounts that are disbursed to multiple destinations;
• hybrid plans under Code Sec. 411(a)(13) and Code Sec. 411(b)(5), as added by the Pension Protection Act of 2006 (PPA; P.L. 109-280);
• and determination of minimum required contributions under Code Sec. 430 and 436, as added by the PPA.

Other pension guidance anticipated

Other pension guidance anticipated to be released includes:

• guidance on transfers from foreign retirement plans;
• guidance on 403(b) plans;
• guidance relating to lifetime income from retirement plans;
• guidance on rules applicable to ESOPs; guidance on governmental plan status under Code Sec. 414(d);
• guidance on funding relief under the Preservation of Access to Care for Medicare Beneficiaries and Pension Relief Act of 2010 (P.L. 111-192); and
• guidance on DB-K plans under Code Sec. 414(x).

Exec comp, health care and other guidance

Also included in the 2011-2012 Priority Guidance Plan are items in the executive compensation, health care and other benefits, and employment taxation areas. Among these items are:

• final regulations on cafeteria plans under Code Sec. 125;
• guidance on application of Code Sec. 409A(b), as amended by the PPA;
• regulations on the interaction of Code Sec. 4980G and Code Sec. 125 with respect to comparable employer contributions to employees' health savings accounts;
• and final regulations under Code Sec. 457(f) on ineligible plans.

Source: 2011-2012 Priority Guidance Plan, September 2, 2011.

For more information, visit http://www.wolterskluwerlb.com/rbcs.

For more information on this and related topics, consult the CCH Pension Plan Guide, CCH Employee Benefits Management, and Spencer's Benefits Reports.

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