Defined Benefit Answer Book
Defined Benefit Answer Book, Third Edition explains the critical actuarial, administrative, and compliance facets of defined benefit arrangements. The author covers a full range of concerns, including:\ \ Satisfying nondiscrimination and benefits structure\ Reporting and disclosure to employees\ Understanding actuarial techniques for asset liability and funding methods\ Deductibility\ QDRO design and administration\ Relevant legislation, including GATT, SBJPA, and the TRA\ Funding standards\...
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Defined Benefit Answer Book, Fourth Edition, is designed for professionals who need quick and authoritative answers to questions on the complex administration of defined benefit plans. There are numerous examples of how those bills affect defined benefit plans and discussion and analysis of current laws and regulations, including how the PPA affects the future of defined benefit plan operations. Among the crucial questions answered are the following: • Does a company's financial stability affect plan design? • Can plans be designed to provide enhanced benefits to key employees? • Are there ways of establishing hours of service without counting actual hours? • Can a defined benefit plan be designed so that there is no discrimination testing each year? • Can a defined benefit plan be designed to primarily benefit the key employees? • Are there any advantages to having a defined contribution plan and a defined benefit plan together, and how are they administered? • What must an employer do to satisfy minimum funding requirements, both before and after the Pension Protection Act of 2006 (PPA)? • What restrictions are imposed if a plan is considered underfunded after the PPA? • What distribution election forms must be provided to a participant? • How can a QDRO be prepared for a defined benefit plan? • How are maximum benefit limitations determined under a plan? • How are benefits calculated and converted to alternate forms of payment? • What administrative issues must be considered for aplan that is covered by the Pension Benefit Guaranty Corporation? • How are cash balance plans similar and different from traditional defined benefit plans? • How are deductible contributions determined for a defined benefit plan, both before and after the PPA? • How is a defined benefit similar and different from a defined contribution plan? • What different administrative tasks are required for a defined benefit plan and for a defined contribution plan? • How does a 412(e)(3) plan operate? • Can a 412(e)(3) plan be more beneficial for sponsors than a regular defined benefit plan? Defined Benefit Answer Book brings you up to date on the latest developments including: • Complete analysis of the final Code Section 415 regulations and their effect on defined benefit plans • Revised chapter on administration of cash balance plans, including discussion of requirements related to age • Revised chapter on Schedule B and the new Schedules SB and MB forms for 2008 and 2009 • Examples and information regarding the changes made to defined benefit plans under the Pension Protection Act of 2006 (PPA); fully updated for the final regulations issued in October 2009 regarding: • Minimum required funding changes • Maximum deductions of contributions • Employee notices • Consequences of underfunding • Distributions • Special chapter dedicated to defined contribution administrators who wish to learn about defined benefit plans; fully updated for recent PPA guidance • Discussions to reflect other regulations and guidance issued by the IRS
• Characteristics of a Defined Benefit Plan• Plan Design• Hybrid Plans• Special Employers and Plans• Eligibility - Coverage and Participation• Measuring Service• Vesting• Plan Benefits/Accrued Benefits• Safe Harbor Benefit Formulas• Advanced Plan Design• Maximum Plan Benefits• Cash Balance Plans• Ancillary Benefits• Distribution of Benefits• Qualified Domestic Relations Orders• Funding Methods• Minimum Funding Standards• Deductibility of Employer Contributions• Valuation of Liabilities and Assets• Census Data and Demographics• The Role of the Enrolled Actuary• Pension Benefit Guaranty Corporation• Plan Termination• Mergers and Acquisitions• Fiduciary Responsibility• Employee Communication• Government Reporting and Disclosure• Schedule B Issues• Financial Accounting Standards
