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CCH® PENSION AND BENEFITS — 12/27/06

IRS releases its semiannual regulatory agenda, including pension and benefit projects

The IRS has issued its most recent semiannual regulatory agenda, which lists, among other items, the retirement and benefit regulations that are currently under development or review.

Proposed rules

Subject areas in which the IRS will be drafting proposed regulations include:

• Definition of "highly compensated employee"

• Deductibility of employer contributions for deferred compensation

• The performance of actuarial services under ERISA

• Code Sec. 401(a)(4) nondiscrimination requirements

• Cafeteria plans

• Withholding and reporting obligations under Code Sec. 1441 regarding tender offers

Final rules

Among the regulations the IRS expects to finalize include those governing:

• Contributions to purchase certain retirement annuities or custodial accounts under Code Sec. 403(b)

• Qualified severance requirements

• Deferred compensation

• Designated Roth accounts under Code Sec. 402A

Long-term actions

Long-term actions on the IRS's agenda include regulations related to:

• Allocation of accrued benefits between employer and employee contributions

• Transfers of restricted stock

• Converting an IRA annuity to a Roth IRA

For more information on this and related topics, consult the CCH Pension Plan Guide.

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