Business Services Industry
NationsBank's innovative pension plan in question.
Business Insurance, October, 1998 by Geisel, Jerry
JERRY GEISEL CHARLOTTE, N.C. - New legal questions are dogging NationsBank Corp.'s innovative participant-directed cash balance pension plan. Employee benefit and legal experts are questioning how the company's new approach fits with certain Internal Revenue Service rules governing the transfer of funds between defined contribution and defined benefit plans.
Charlotte, N.C.-based NationsBank, which now operates under the name Bank of America following its merger with BankAmerica Corp., has refused to discuss the plan (BI, Oct. 5). 'Legal issues have to be addressed in such arrangements,' said Fred Rumack, director of taxes and legal services at Buck Consultants Inc. in New York. The NationsBank plan allows employees to direct the investment of...
Most Recent Business Articles
- Multiple criteria evaluation and optimization of transportation systems
- Multi-criteria analysis procedure for sustainable mobility evaluation in urban areas
- A two-leveled multi-objective symbiotic evolutionary algorithm for the hub and spoke location problem
- Multi-criteria analysis for evaluating the impacts of intelligent speed adaptation
- The development of Taiwan arterial traffic-adaptive signal control system and its field test: a Taiwan experience
Most Recent Business Publications
Most Popular Business Articles
- 7 tips for effective listening: productive listening does not occur naturally. It requires hard work and practice - Back To Basics - effective listening is a crucial skill for internal auditors
- FAS 109: a primer for non-accountants - Financial Accounting Standards Board's "Statement 109: Accounting for Income Taxes"
- LIFO vs. FIFO: a return to the basics
- Too Young to Rent a Car? - 25-years-old the minimum age for car renting - Brief Article
- Design a commission plan that drives sales - Sales Commissions
