Appeals court adopts IRS 20 percent rule for determining partial plan terminations

Article Abstract:

The U.S. Court of Appeals for the Seventh Circuit upheld the Internal Revenue Service (IRS) application of the informal 20 percent rule for determining whether a decrease in the number of plan participants leads to full vesting due to partial plan termination. The Appeals Court however held that the 20 percent rule was not a hard and fast rule and instead all the facts and circumstances of each case be considered when approximately 20 percent of the employees lost coverage under the plan.

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A crisis of confidence

Article Abstract:

The author presents methods of overcoming a lack of investor confidence in a company as a result of scandals involving accounting procedures and corporate corruption.

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Directors and officers are plan fiduciaries

Article Abstract:

The rules and laws under Employee Retirement Income Security Act, where the individual directors and officers of a plan may become fiduciaries are discussed.

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