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| Terminating an Erisa 403(b) Plan and 5500 Reporting Requirements, How to Terminate Individually Owned Contracts???? posted by "lori" |
A company is going out of business in June 2010. They have about 50 individually owned contracts in the plan. How on earth are they to report distributions on Schedule I for 2009 and then again for 2010 when the plan is terminated by resolution? With the new and extensive 5500 reporting requirements for ERISA 403(b) plans e.g. Schedule H or I, you are required to report distributions to terminated participants effective for 2009 plan years. If a participant owns the contract as opposed to the plan or plan sponsor, how does one report a distribution paid? In the past you did not have to report distributions. How is it possible to report them now when the participant owns the contract? |
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| February 3, 2010 |
| Are 403(b) Plan Administrators Prepared to Meet the New Regulatory Requirements? |
| Excerpt: To better understand the effect of the new regulations on plan compliance, the TIAA-CREF Institute recently conducted a survey of more than 400 plan administrators at not-for-profit and governmental institutions with 403(b) plans. [TIAA-CREF Institute] |
| February 1, 2010 |
| Vermont Teacher Retirement Deal Would Save $15M a Year |
| Teachers would pay more to pensions, work longer, but would receive increased benefits. [Burlington FreePress.com] |
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