Business Services Industry
IRS rules curb some 401(k) plan contributions.(News)(Internal Revenue Service)
Business Insurance, January, 2005 by Geisel, Jerry
Byline: JERRY GEISEL WASHINGTON-Final Internal Revenue Service 401(k) rules curb a low-cost approach that some employers have used to allow higher-paid employees to contribute more to 401(k) plans and still enable the plans to pass nondiscrimination tests. The rules also broaden the list of situations in which employees can make so-called hardship withdrawals from the plans.
The rules now bar normal distributions, though, when an employee terminates employment but then immediately resumes work for his or her former employer through an employee leasing arrangement. In addition, the final rules make clear that employers cannot advance or prefund 401(k) contributions, which is a position that the IRS had already been taking in audits of 401(k) plans, experts...
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
Presented by American Express