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A LOOK AT EMPLOYEE RETIREMENT BENEFITS
THE EFFECTS OF THE 1974 PENSION REFORM ACT WILL BE WIDESPREAD SINCE EVERY EXISTING QUALIFIED EMPLOYEE-RETIREMENT-PLAN WILL PROBABLY HAVE TO BE REVISED TO MAINTAIN ITS QUALIFIED STATUS. THE ANNUAL-REPORT MUST BE PUBLISHED WITHIN 210 DAYS AFTER THE END OF THE PLAN'S CALENDAR, FISCAL, OR POLICY YE...
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Published in: | Strategic finance (Montvale, N.J.) N.J.), 1976-03, Vol.57 (9), p.13 |
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Main Author: | |
Format: | Magazinearticle |
Language: | English |
Subjects: | |
Online Access: | Get full text |
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Summary: | THE EFFECTS OF THE 1974 PENSION REFORM ACT WILL BE WIDESPREAD SINCE EVERY EXISTING QUALIFIED EMPLOYEE-RETIREMENT-PLAN WILL PROBABLY HAVE TO BE REVISED TO MAINTAIN ITS QUALIFIED STATUS. THE ANNUAL-REPORT MUST BE PUBLISHED WITHIN 210 DAYS AFTER THE END OF THE PLAN'S CALENDAR, FISCAL, OR POLICY YEAR, AND IT MUST INCLUDE FINANCIAL-STATEMENTS AS WELL AS DETAILS OF EMPLOYEE WELFARE PLANS AND EMPLOYEE PENSION BENEFIT PLANS. THE LAW CONTAINS SPECIFIC PROVISIONS REGARDING PARTICIPATION REQUIREMENTS, VESTING AND ACCRUED BENEFITS, FUNDING RULES AND REQUIREMENTS, PLAN TERMINATION INSURANCE AND PORTABILITY, INDIVIDUAL-RETIREMENT-ACCOUNTS, TAXATION ON BENEFITS, AND REPORTING AND DISCLOSURE RULES. THE EMPLOYEES MUST BE GIVEN A SUMMARY OF THE PLAN WRITTEN IN A FASHION WHICH IS UNDERSTANDABLE BY AN AVERAGE EMPLOYEE OR PARTICIPANT. |
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ISSN: | 1524-833X |