(a) What is the earnings test? (b) How does it affect Social Security retirement benefits? What is the main purpose of the Pension Benefit Guaranty Corporation (PBGC)? Explain tax implications of insurance (i.e. life insurance proceeds, health care reimbursement, flexible spending accounts, dis...
Form 5500 is a mandatory annual filing that plan administrators must submit to theU.S. Department of Labor. This form serves as a comprehensive report on the financial condition, investments, and operations of the pension plan. Larger plans are also subject to an additional requirement of an an...
The health coverage tax credit is a program in place for tax years from 2002 to 2013 and was later extended through 2019 to help eligible individuals and families by paying a portion of premiums for qualified health insurance programs.
Other Consequences.A plan sponsor electing an extended amortization period is required to notify participants, beneficiaries, and the PBGC of its election. Once made, a plan sponsor cannot revoke an election without the consent of the Secretary of the Treasury. Before approving the revocation, the ...
for example in order to achieve a requisite funded status for its plan to avoid funding-based benefit restrictions, being in "at risk" status or being required to provide information to the Pension Benefit Guaranty Corporation ("PBGC") in a "4010 filing," the Act may not provide much reli...
for example in order to achieve a requisite funded status for its plan to avoid funding-based benefit restrictions, being in "at risk" status or being required to provide information to the Pension Benefit Guaranty Corporation ("PBGC") in a "4010 filing," the Act may not provide much rel...