SIMPLE 401(k), SIMPLE IRA plans (BenefitsLink.com)Headlines re SIMPLE 401(k), SIMPLE IRA plans, gathered by BenefitsLink.comIRS Announces Pension Plan Limitations for 2008; 402(g) Elective Deferral Limit Still $15,500- (Found June 29, 2008 ) Excerpt: "The annual compensation limit under Sections 401(a)(17), 404(l), 408(k)(3)(C), and 408(k)(6)(D)(ii) is increased from $225,000 to $230,000. The dollar limitation under Section 416(i)(1)(A)(i) concerning the definition of key employee in a top-heavy plan is increased from $145,000 to $150,000. . . . The limitation used in the definition of highly compensated employee under Section 414(q)(1)(B) is increased from $100,000 to $105,000. . . . Administrators of defined benefit or...http://benefitslink.com/pr/detail.php?id=41237 November 1 Deadline for SIMPLE Notice Fast Approaching- (Found June 29, 2008 ) Excerpt: "There's an important deadline on the horizon if an employer has a SIMPLE in 2007 but would like a 401(k) in 2008. It's November 1. The employer must provide notice to employees at least 60 days prior to the start of the next calendar year or no later than November 1, 2007 that the SIMPLE will not be maintained in 2008." (Retirement Plan Blog)http://www.retirementplanblog.com/-401-k-plans-november-1-deadline-for-simple-notice-fast-... Chart: Cost-of-Living Adjustments for IRAs, SEPs, Saver's Tax Credit, SARSEP, and SIMPLE Plans (PDF)- (Found June 29, 2008 ) 3 pages. (Wolters Kluwer Financial Services)http://www.complianceheadquarters.com/Documents/COLA%20Tables.pdf Customer Has SEP IRA & SIMPLE IRA -- Can He Transfer Them into His Existing Traditional IRA- (Found June 29, 2008 ) Excerpt: "An individual may transfer hisher Savings Incentive Match Plan for Employees of Small Employers (SIMPLE) IRA to a traditional IRA after two years from the initial contribution date." (Wolters Kluwer Financial Services)http://www.complianceheadquarters.com/Question/IRA_110707.aspx Guidance Overview What Are Employer's Matching Contribution Requirements Under Savings Incentive Match Plan for Employees of Small Employers IRA Plan- (Found June 29, 2008 ) Excerpt: "IRC Section 408(p)(2)(A)(iii) requires an employer to match eligible employees' salary deferral contributions. This contribution is a dollar of matching contribution for each dollar of an employee's salary deferral, with no matching contribution for salary deferrals that exceed 3 percent of an eligible employee's compensation." (Wolters Kluwer)http://www.complianceheadquarters.com/Question/IRA_040908.aspx A S.I.M.P.L.E. Retirement Plan- (Found June 29, 2008 ) Excerpt: "The SIMPLE IRA is not expensive, it has no government testing, and can be easy to install. The SIMPLE IRA has to set up before October 1 of the current plan year. It has two basic setup options: Matching or Non-elective. These two options let each participant contribute up to $10,500 per year." (Zanesville Times Recorder)http://zanesvilletimesrecorder.com/apps/pbcs.dll/article?AID=/20080413/NEWS01/804130311/10... From Federal Register: Final Regs on Electronic Media for Benefit Notices, Elections and Consents (PDF)- (Found June 29, 2008 ) 12 pages. Excerpt: "These regulations generally apply to applicable notices provided, and participant elections made, on or after January 1, 2007. . . . The participant election rules in these regulations extend the use of electronic media to the notice and election rules applicable to plans that are subject to the QJSA requirements of section 417. . . . Theseregulations do not adopt the suggestion that spousal PINs be permitted in lieu of the physical presence requirement . . . ."...http://benefitslink.com/taxregs/E6-17528.pdf |