Affiliated service group rules: an overview

Article Abstract:

Pension plan sponsors must be aware of the possible effects of affiliated service groups and employee leasing on tax-qualified retirement plans. Noncompliance with affiliated service group rules could result in the plan's losing its tax-qualified status. The proposed IRC 414(o) is intended to ensure compliance with employee benefits rules in IRC 414(m,n). Leased owners, leased managers, successive organizations in time and shared employees are deemed attempts to avoid employee benefit rules.

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Impact of new SEC Section 16 rules on defined contribution plans

Article Abstract:

The SEC has revised the regulations under Section 16 of the Securities Exchange Act of 1934. The regulations apply to reporting and profit disgorgement related to securities transactions of 10% owners and some corporate directors and officers. These rules have affected defined contribution plans by making securities transactions subject to short-swing profit recovery. The phase-in period for the new regulations will end on Sep 1, 1992.

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Deadline for compliance with substantive rule 16B-3 conditions extended

Article Abstract:

The SEC has extended by one year to Sep 1, 1993 the phase-in period for public company compliance with Rule 16b-3 conditions for employee benefit plans. The rule revisions were adopted pursuant to Securities Exchange Act of 1934 Section 16. The SEC granted the extension in appreciation of the public uncertainties about the rule as evidenced by the many requests for interpretation.

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