Bibliographic record and links to related information available from the Library of Congress catalog.
Note: Contents data are machine generated based on pre-publication provided by the publisher. Contents may have variations from the printed book or be incomplete or contain other coding.
TABLE OF CONTENTS Dedication . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . v About the Authors . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . vii Preface . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ix PART I: QUALIFICATION RULES GENERALLY APPLICABLE TO EMPLOYEE RETIREMENT PLANS CHAPTER 1 INTRODUCTION . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 ? 1.01 Structure of ERISA . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 ? 1.02 Types of Benefits . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 ? 1.03 Explanation of Defined Contribution Plans . . . . . . . . . . . . . 4 ? 1.04 Explanation of Defined Benefit Plans . . . . . . . . . . . . . . . . . . 7 ? 1.05 Choice Between a Defined Contribution or Defined Benefit Plan . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9 ? 1.06 Miscellaneous Kinds of Plans . . . . . . . . . . . . . . . . . . . . . . . . 9 Class Discussion Problems . . . . . . . . . . . . . . . . . . . . . . . . 13 Homework Problems for Chapter 1 . . . . . . . . . . . . . . . . . . 14 Answers to Homework Problems for Chapter 1 . . . . . . . . 15 CHAPTER 2 QUALIFICATION RULES . . . . . . . . . . . . . . . . . . . . . 17 ? 2.01 Introduction to the Qualification Rules of the Code . . . . . . . 17 ? 2.02 Fundamental Requirements of Qualification . . . . . . . . . . . . 18 [A] Plan Must be Established by an Employer . . . . . . . . . . . . . . 18 [B] Exclusive Benefit Rule . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18 [C] Permanency . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20 [D] Prohibition of Diversion of Plan Assets . . . . . . . . . . . . . . . . . 20 ? 2.03 Formal Requirements for Plan Qualification . . . . . . . . . . . . 22 [A] Plan Must Be in Effect . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22 [B] Written Document . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23 [C] Communicated to Employees . . . . . . . . . . . . . . . . . . . . . . . . . 23 ? 2.04 Substantive Qualification Requirements of Code ? 401(A) . . . 24 ? 2.05 Jurisdictional Issues . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 26 ? 2.06 The DOL?s Involvement Under ERISA (http://www.dol.gov) . . . 27 3208-Chapter_FM.qxd 6/7/06 3:34 PM Page xv xvi TABLE OF CONTENTS ? 2.07 The IRS? Involvement Under ERISA (http://www.irs.ustreas.gov) . . . . . . . . . . . . . . . . . . . . . . . . . 28 ? 2.08 The PBGC?s Involvement Under ERISA (http://www.pbgc.gov) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 29 Class Discussion Problems . . . . . . . . . . . . . . . . . . . . . . . . 33 Homework Problems for Chapter 2 . . . . . . . . . . . . . . . . . . 34 Answers to Homework Problems for Chapter 2 . . . . . . . . 36 CHAPTER 3 MINIMUM PARTICIPATION REQUIREMENTS . . . 39 ? 3.01 Introduction to the Code?s Minimum Participation Requirements . . . . . . . . . . . . . . . . . . . . . . . . . 39 ? 3.02 Covered Plans . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 40 ? 3.03 Use of Age Requirements . . . . . . . . . . . . . . . . . . . . . . . . . . . 40 ? 3.04 Use of Service Requirements . . . . . . . . . . . . . . . . . . . . . . . . 41 ? 3.05 Entry Dates . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 43 ? 3.06 Break-in-Service Rules . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 44 ? 3.07 Elapsed Time Method . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 46 ? 3.08 Requirement of Employment Status . . . . . . . . . . . . . . . . . . . 46 ? 3.09 Summary of Minimum Participation Standards Regarding Eligibility . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 47 Class Discussion Problems . . . . . . . . . . . . . . . . . . . . . . . . 48 Homework Problems for Chapter 3 . . . . . . . . . . . . . . . . . . 49 Answers to Homework Problems for Chapter 3 . . . . . . . . 51 CHAPTER 4 OVERALL COVERAGE TESTS . . . . . . . . . . . . . . . . 53 ? 4.01 Introduction to the Code?s Coverage Tests . . . . . . . . . . . . . . 53 ? 4.02 Purpose of the Coverage Tests of Code ? 410(b) . . . . . . . . . . 54 ? 4.03 Definition of Highly Compensated Employee in Code ? 414(q) . . . . . . . . . . . . . . . . . . . . . . . . . . 57 ? 4.04 First Two Coverage Tests of Code ? 410(b) . . . . . . . . . . . . . . 59 ? 4.05 Third Coverage Test of Code ? 410(b) . . . . . . . . . . . . . . . . . 60 ? 4.06 The Additional Coverage Test of Code ? 401(a)(26) . . . . . . . 63 ? 4.07 Checklist for Applying the Coverage Tests of Code ?? 410(b) and 401(a)(26) . . . . . . . . . . . . . . . . . . . . . . . . . . . . 64 ? 4.08 Coverage Test Step-by-Step Analysis . . . . . . . . . . . . . . . . . . 65 Class Discussion Problems . . . . . . . . . . . . . . . . . . . . . . . . 69 Homework Problems for Chapter 4 . . . . . . . . . . . . . . . . . . 71 Answers to Homework Problems for Chapter 4 . . . . . . . . 74 3208-Chapter_FM.qxd 6/7/06 3:34 PM Page xvi TABLE OF CONTENTS xvii CHAPTER 5 MINIMUM VESTING STANDARDS . . . . . . . . . . . . 77 ? 5.01 Introduction to the General Vesting Rules . . . . . . . . . . . . . . 77 ? 5.02 Permissible Vesting Schedules . . . . . . . . . . . . . . . . . . . . . . . 78 ? 5.03 Vesting Schedule Amendments . . . . . . . . . . . . . . . . . . . . . . . 80 ? 5.04 Vesting Upon Plan Termination . . . . . . . . . . . . . . . . . . . . . . 80 ? 5.05 ?Years of Service? for Vesting Purposes . . . . . . . . . . . . . . . . 81 ? 5.06 Permissible Forfeitures of Vested Rights . . . . . . . . . . . . . . . 83 ? 5.07 Allocation of Forfeitures . . . . . . . . . . . . . . . . . . . . . . . . . . . . 85 ? 5.08 Forfeiture of Nonvested Benefits . . . . . . . . . . . . . . . . . . . . . 85 ? 5.09 Anti-Cutback Rules . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 88 ? 5.10 Summary of Vesting Rules Under ERISA and the Code . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 88 Class Discussion Problems . . . . . . . . . . . . . . . . . . . . . . . . 90 Homework Problems for Chapter 5 . . . . . . . . . . . . . . . . . . 92 Answers to the Homework Problems for Chapter 5 . . . . . 95 CHAPTER 6 ACCRUED BENEFIT REQUIREMENTS . . . . . . . . 97 ? 6.01 Overview of Code ? 411(a) . . . . . . . . . . . . . . . . . . . . . . . . . . . 97 ? 6.02 Definition of Accrued Benefit . . . . . . . . . . . . . . . . . . . . . . . . 99 ? 6.03 The Accrual Computation Period . . . . . . . . . . . . . . . . . . . . . 100 ? 6.04 Accrued Benefits Under a Defined Contribution Plan . . . . . 103 ? 6.05 Accrued Benefits Under a Defined Benefit Plan . . . . . . . . . 105 [A] The 3% Method . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 107 [B] The 1331/3% Rule . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 108 [C] The Fractional Rule . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 109 ? 6.06 Continued Accrual Beyond Normal Retirement Age . . . . . . 110 ? 6.07 Special Rules Used in Cross-Testing . . . . . . . . . . . . . . . . . . . 110 ? 6.08 Top Heavy Minimum Accrual of Benefits . . . . . . . . . . . . . . . 111 ? 6.09 Protection of Accrued Benefits (Anti-Cutback Rule) . . . . . . 112 [A] Meaning of a Plan Amendment . . . . . . . . . . . . . . . . . . . . . . . 112 [B] Meaning of a Reduction . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 113 [C] Meaning of ?Accrued Benefits? . . . . . . . . . . . . . . . . . . . . . . . . 114 [D] Protection of Subsidies . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 116 [E] Elimination of Optional Forms of Payment . . . . . . . . . . . . . . 118 Class Discussion Problems . . . . . . . . . . . . . . . . . . . . . . . . 120 3208-Chapter_FM.qxd 6/7/06 3:34 PM Page xvii xviii TABLE OF CONTENTS Homework Problems for Chapter 6 . . . . . . . . . . . . . . . . . . 123 Answers to Homework Problems for Chapter 6 . . . . . . . . 125 CHAPTER 7 LIMITATIONS ON QUALIFIED DEFINED BENEFIT AND DEFINED CONTRIBUTION PLANS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 129 ? 7.01 General Requirements . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 129 ? 7.02 Limitations for Defined Benefit Plans . . . . . . . . . . . . . . . . . 132 [A] Changes in the Dollar Limit . . . . . . . . . . . . . . . . . . . . . . . . . 133 [B] Various Adjustments to the Dollar Limit . . . . . . . . . . . . . . . 134 [C] Adjustment to the Dollar Limit for Commencement of Benefits . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 134 [D] Adjustment to the Dollar Limit for Forms of Payment . . . . . 136 [E] Other Adjustments or No Adjustments . . . . . . . . . . . . . . . . . 137 ? 7.03 Limitations for Defined Contribution Plans . . . . . . . . . . . . . 138 ? 7.04 Pre-Termination Restrictions for Defined Benefits Payable to the HCEs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 140 [A] Distribution Limitations . . . . . . . . . . . . . . . . . . . . . . . . . . . . 141 [B] Use of Escrow . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 141 ? 7.05 Definition of Compensation for the Qualification Requirements . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 142 ? 7.06 Compensation in General . . . . . . . . . . . . . . . . . . . . . . . . . . . 142 [A] Alternative Definitions of Compensation . . . . . . . . . . . . . . . . 143 [B] Uses of Compensation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 144 ? 7.07 Limitations on Compensation . . . . . . . . . . . . . . . . . . . . . . . . 144 ? 7.08 Illustrative Examples from the IRS Regulations . . . . . . . . . 145 ? 7.09 Maximum Limitations Under Code ?? 415 and 401(a)(17) . . . 146 Class Discussion Problems . . . . . . . . . . . . . . . . . . . . . . . . 148 Homework Problems for Chapter 7 . . . . . . . . . . . . . . . . . . 150 Answers to Homework Problems for Chapter 7 . . . . . . . . 152 CHAPTER 8 NONDISCRIMINATION REQUIREMENTS REGARDING BENEFITS/ALLOCATIONS FOR QUALIFIED PLANS . . . . . . . . . . . . . . . . . . . . . 155 ? 8.01 Introduction to Nondiscrimination Rules ? Pre TRA ?86 . . . 155 ? 8.02 Revisions to the Nondiscrimination Requirements Under TRA ?86 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 157 3208-Chapter_FM.qxd 6/7/06 3:34 PM Page xviii TABLE OF CONTENTS xix ? 8.03 Test 1 ? Amount of Benefits/Contribution Testing Under ? 401(a)(4) . . . . . . . . . . . . . . . . . . . . . . . . . . . 159 [A] Overview . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 159 [B] Safe Harbors ? In General . . . . . . . . . . . . . . . . . . . . . . . . . . 160 [C] Safe Harbors ? Defined Contribution Plans . . . . . . . . . . . . . 161 [D] Safe Harbors ? Defined Benefit Plans . . . . . . . . . . . . . . . . . 162 [E] General Testing ? Defined Contribution Plans . . . . . . . . . . . 163 [F] General Testing ? Defined Benefit Plans . . . . . . . . . . . . . . . 165 ? 8.04 Permitted Disparity of Benefits/Contributions . . . . . . . . . . . 166 ? 8.05 Tests 2 and 3 ? Amount of Benefits/Contribution Testing Under ? 401(a)(4) . . . . . . . . . . . . . . . . . . . . . . . . . . . 170 [A] Test 2 ? Discrimination With Respect to Benefits, Rights and Features . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 170 [B] Test 3 ? Discrimination in ?Special Circumstances? . . . . . . 171 ? 8.06 Miscellaneous Rules in Determining the Amount Testing Requirements of Code ? 401(a)(4) . . . . 172 ? 8.07 Comparability Testing . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 172 [A] Gateway Requirement . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 173 [B] Broadly Available Allocation Rates . . . . . . . . . . . . . . . . . . . . 174 [C] Age-Based Allocations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 175 Class Discussion Problems . . . . . . . . . . . . . . . . . . . . . . . . 177 Homework Problems for Chapter 8 . . . . . . . . . . . . . . . . . . 184 Answers to Homework Problems for Chapter 8 . . . . . . . . 188 CHAPTER 9 MINIMUM FUNDING STANDARDS . . . . . . . . . . . . 193 ? 9.01 Introduction to ERISA ?? 301-306 and Code ? 412 . . . . . . . . 194 ? 9.02 Coverage Under the Code . . . . . . . . . . . . . . . . . . . . . . . . . . . 195 ? 9.03 Actuarial Assumptions and Methods . . . . . . . . . . . . . . . . . . 196 [A] Need for Actuarial Assumptions . . . . . . . . . . . . . . . . . . . . . . 197 [B] Reasonable Assumptions . . . . . . . . . . . . . . . . . . . . . . . . . . . . 198 [C] Need for Actuarial Cost Methods . . . . . . . . . . . . . . . . . . . . . 199 ? 9.04 Minimum Funding Standards . . . . . . . . . . . . . . . . . . . . . . . . 200 [A] Creation of a T-account ?FSA? . . . . . . . . . . . . . . . . . . . . . . . . 200 [B] The Alternative Minimum Funding Standard Account . . . . . 203 [C] Additional Funding Requirements for Certain Underfunded Plans . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 203 3208-Chapter_FM.qxd 6/7/06 3:34 PM Page xix xx TABLE OF CONTENTS ? 9.05 Failure to Meet Funding Requirements . . . . . . . . . . . . . . . . 205 ? 9.06 Special Rules . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 206 [A] Valuation of Plan Assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . 206 [B] Full Funding Limitation . . . . . . . . . . . . . . . . . . . . . . . . . . . . 206 [C] Coordination with Code ? 404 . . . . . . . . . . . . . . . . . . . . . . . . 207 [D] Controlled Group Liability . . . . . . . . . . . . . . . . . . . . . . . . . . . 208 [D] Quarterly Contribution Requirement . . . . . . . . . . . . . . . . . . 208 [E] Security Required . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 208 ? 9.07 Funding Targets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 209 ? 9.08 Penalty Taxes on Accumulated Funding Deficiency . . . . . . . 209 ? 9.09 Actuarial Considerations . . . . . . . . . . . . . . . . . . . . . . . . . . . 210 ? 9.10 Cost Methods ? Interplay Between Funding Requirements and Deductibility Limits . . . . . . . . . . . . . . . . 211 Class Disscussion Problems . . . . . . . . . . . . . . . . . . . . . . . . 216 Homework Problems for Chapter 9 . . . . . . . . . . . . . . . . . . 217 Answers to Homework Problems for Chapter 9 . . . . . . . . 220 CHAPTER 10 DEDUCTIBILITY OF EMPLOYER CONTRIBUTIONS . . . . . . . . . . . . . . . . . . . . . . . . . . 221 ? 10.01 General Rules of Code ? 404 . . . . . . . . . . . . . . . . . . . . . . . . 221 [A] Necessity of a Qualified Plan . . . . . . . . . . . . . . . . . . . . . . . . 222 [B] Year of Deduction Rule . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 223 ? 10.02 Deductibility Under Code ?? 162 or 212 . . . . . . . . . . . . . . . 223 [A] Requirements . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 223 [B] Type of Contribution . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 224 ? 10.03 Which Employer Takes the Deduction . . . . . . . . . . . . . . . . 225 [A] General Rule . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 225 [B] Exceptions to the General Rule . . . . . . . . . . . . . . . . . . . . . . . 226 [C] Mergers, Liquidations and Reorganizations . . . . . . . . . . . . . 227 [D] Foreign Affiliates . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 227 [E] Domestic Subsidiaries Engaged in Foreign Business . . . . . . 228 ? 10.04 Limitations on the Amount of the Deduction . . . . . . . . . . . 228 [A] For Pension and Annuity Plans . . . . . . . . . . . . . . . . . . . . . . . 228 [C] Combined Deductible Ceiling . . . . . . . . . . . . . . . . . . . . . . . . . 231 [D] Profit Sharing, Stock Bonus and Money Purchase Plans . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 232 3208-Chapter_FM.qxd 6/7/06 3:34 PM Page xx TABLE OF CONTENTS xxi [1] Primary Limitation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 232 [2] Secondary Limitation . . . . . . . . . . . . . . . . . . . . . . . . . . . . 233 [D] Combined Limitation for Pension and Profit Sharing or Stock Bonus Plans . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 233 [F] Self-Employed Individuals . . . . . . . . . . . . . . . . . . . . . . . . . . . 234 [G] Code ? 415 Limitations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 235 Class Discussion Problems . . . . . . . . . . . . . . . . . . . . . . . . 236 Homework Problems Chapter 10 . . . . . . . . . . . . . . . . . . . . 237 Answers to Homework Problems for Chapter 10 . . . . . . . . 239 CHAPTER 11 RELATED EMPLOYERS FOR PURPOSES OF APPLYING THE QUALIFICATION RULES . . . . 241 ? 11.01 Introduction . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 241 ? 11.02 Explanation of Controlled Group Rules . . . . . . . . . . . . . . . 242 [A] Parent-Subsidiary Test for Corporate Entities: Code ? 414(b) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 242 [B] Brother-Sister Test of Code ? 414(b) for Corporations . . . . . . 243 [C] Combined Group Test of Code ? 414(b) for Corporations . . . . 245 [D] Tests Apply to All Trades and Businesses, Whether or Not Incorporated . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 245 ? 11.03 Affiliated Service Group ? Code ? 414(m) . . . . . . . . . . . . . 246 [A] Historical Background . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 246 [B] Legislative Changes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 247 [C] ?Joint Venture? Theory . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 247 [D] Affiliated Service Rules . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 248 [1] Test 1 for A-Orgs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 248 [2] Test 2 for B-Orgs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 249 [3] Multiple Affiliated Service Groups . . . . . . . . . . . . . . . . . . . 250 [4] Test 3 ? Management Service Organizations (MS-Orgs) . . . 250 ? 11.04 Leased Employees . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 251 ? 11.05 Catch-All Provision ? Code ? 414(o) . . . . . . . . . . . . . . . . . 252 ? 11.06 Consequences to Members of a Controlled Group . . . . . . . . 252 ? 11.07 Application to Pension and Welfare Provisions . . . . . . . . . 253 Class Discussion Problems . . . . . . . . . . . . . . . . . . . . . . . . 256 Homework Problems for Chapter 11 . . . . . . . . . . . . . . . . . 257 Answers to Homework Problems for Chapter 11 . . . . . . . . 259 3208-Chapter_FM.qxd 6/7/06 3:34 PM Page xxi xxii TABLE OF CONTENTS CHAPTER 12 DISTRIBUTIONS OF BENEFITS, LOANS, AND QDROs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 263 ? 12.01 Introduction . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 263 ? 12.02 Timing of Distributions . . . . . . . . . . . . . . . . . . . . . . . . . . . . 264 [A] Earliest Distribution Date . . . . . . . . . . . . . . . . . . . . . . . . . . . 264 [B] Employer Discretion or Consent to Distribution . . . . . . . . . . 265 [C] Employee Election . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 266 [D] Normal Distribution Date . . . . . . . . . . . . . . . . . . . . . . . . . . . 266 [E] Latest Distribution Date . . . . . . . . . . . . . . . . . . . . . . . . . . . . 266 ? 12.03 Methods of Payment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 267 [A] Lump Sum Payment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 267 [B] Qualified Joint and Survivor Annuity and Qualified Preretirement Survivor Annuity . . . . . . . . . . . 267 [C] Other Optional Forms of Payment . . . . . . . . . . . . . . . . . . . . . 269 ? 12.04 Waiving the QJSA and QPSA . . . . . . . . . . . . . . . . . . . . . . . 269 [A] Eligible Rollover Distributions . . . . . . . . . . . . . . . . . . . . . . . . 271 [B] Forms of Payment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 272 ? 12.05 Loans from Qualified and ERISA Plans . . . . . . . . . . . . . . . 272 [A] Introduction . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 272 [B] ERISA?s and the Code?s Prohibited Transaction Rules . . . . . 273 [C] ERISA?s Loan Rules . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 273 ? 12.06 Prohibited Transaction Restrictions Regarding Plan Loans . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 274 ? 12.07 Source of the Loan Proceeds ? Variances between ERISA and the Code . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 276 ? 12.08 Tax Consequences under the Code for Nonrepayment of Plan Loans . . . . . . . . . . . . . . . . . . . . 278 [A] Introduction . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 278 [B] Specific Requirements of Code ? 72(p) . . . . . . . . . . . . . . . . . . 278 [C] Maximum Limitations on Loans under the Code . . . . . . . . . 279 [D] Characterization of Repayments . . . . . . . . . . . . . . . . . . . . . . 280 ? 12.09 ERISA?s Anti-Assignment and Alienation Provisions . . . . . 281 [A] Qualified Domestic Relations Orders (QDROs) . . . . . . . . . . . 281 [B] Procedural Requirements . . . . . . . . . . . . . . . . . . . . . . . . . . . . 284 ? 12.10 Reporting and Disclosure Requirements . . . . . . . . . . . . . . . 284 3208-Chapter_FM.qxd 6/7/06 3:34 PM Page xxii TABLE OF CONTENTS xxiii Class Discussion Problems . . . . . . . . . . . . . . . . . . . . . . . . 285 Homework Problems for Chapter 12 . . . . . . . . . . . . . . . . . 286 Answers to Homework Problems for Chapter 12 . . . . . . . . 288 CHAPTER 13 SINGLE EMPLOYER PLAN TERMINATIONS UNDER TITLE IV OF ERISA AND THE CODE . . . 289 ? 13.01 Initial Purpose of Title IV . . . . . . . . . . . . . . . . . . . . . . . . . . 290 ? 13.02 Authority and Structure of the PBGC . . . . . . . . . . . . . . . . . 291 ? 13.03 Definition of a Plan Termination . . . . . . . . . . . . . . . . . . . . 292 ? 13.04 Definition of Certain Terms under Title IV . . . . . . . . . . . . 292 [A] Valuation of Plan Assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . 293 [B] Valuation of Benefit Liabilities . . . . . . . . . . . . . . . . . . . . . . . 293 [C] Valuation of Guaranteed Benefits . . . . . . . . . . . . . . . . . . . . . 294 [D] Allocation of Assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 295 [E] Surplus Assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 295 [F] Election of Benefits . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 295 [G] Premium Payments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 296 ? 13.05 Voluntary Plan Terminations by Plan Sponsors under Title IV . . . . . . . . . . . . . . . . . . . . . . . . . . . 296 [A] Historical Background . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 296 [B] Standard Terminations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 297 ? 13.06 Distress Terminations by Plan Sponsors under Title IV . . . . 300 [A] Notice Procedures Applicable in a Distress Termination . . . 301 [B] Restoration of Plans by PBGC . . . . . . . . . . . . . . . . . . . . . . . . 302 ? 13.07 Code Considerations in Single Employer Plan Termination . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 303 [A] Effect of a Code Termination on Vesting . . . . . . . . . . . . . . . . 304 [B] Freezing the Plan in Lieu of Full Termination . . . . . . . . . . . 304 [C] Compliance with Other Laws . . . . . . . . . . . . . . . . . . . . . . . . 305 [D] Other Qualification Issues . . . . . . . . . . . . . . . . . . . . . . . . . . . 305 [1] Permanency . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 305 [2] Relief for ? 401(a)(26) Compliance . . . . . . . . . . . . . . . . . . . 305 [3] Discrimination Under ? 401(a)(4) . . . . . . . . . . . . . . . . . . . 305 ? 13.08 Partial Plan Terminations . . . . . . . . . . . . . . . . . . . . . . . . . 306 [A] Vertical Partial Terminations . . . . . . . . . . . . . . . . . . . . . . . . 306 3208-Chapter_FM.qxd 6/7/06 3:34 PM Page xxiii xxiv TABLE OF CONTENTS [B] Horizontal Partial Terminations . . . . . . . . . . . . . . . . . . . . . . 308 [C] Asset Reversions to the Employer Upon Plan Termination . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 308 [D] Excise Tax . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 309 Class Discussion Problems . . . . . . . . . . . . . . . . . . . . . . . . 310 Homework Problems for Chapter 13 . . . . . . . . . . . . . . . . . 311 Answers to Homework Problems for Chapter 13 . . . . . . . . 313 CHAPTER 14 TAXATION OF DISTRIBUTIONS FROM QUALIFIED PLANS AND IRAs . . . . . . . . . . . . . . . 315 ? 14.01 Introduction . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 315 ? 14.02 General Income Tax Rules . . . . . . . . . . . . . . . . . . . . . . . . . 317 [A] Ordinary Income Tax Treatment . . . . . . . . . . . . . . . . . . . . . . 318 [B] Recipient . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 318 [C] Form of Distribution . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 318 [D] Annuity Distributions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 319 ? 14.03 Exceptions to the General Income Tax Rules . . . . . . . . . . . 321 [A] Rollover Treatment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 321 [B] Distributions Qualifying for Five-Year Averaging (Pre-2000) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 322 [C] Prior Grandfathered Amounts . . . . . . . . . . . . . . . . . . . . . . . . 323 [D] Annuity Contracts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 323 [E] Life Insurance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 323 [F] Stock Received With Net Unrealized Appreciation . . . . . . . . 324 ? 14.04 Minimum Distribution Rules . . . . . . . . . . . . . . . . . . . . . . . 325 [A] Required Beginning Date . . . . . . . . . . . . . . . . . . . . . . . . . . . . 326 [B] Distributions After Death . . . . . . . . . . . . . . . . . . . . . . . . . . . 329 [C] Employee Dies Prior to the RBD . . . . . . . . . . . . . . . . . . . . . . 330 [D] Employee Survives to RBD . . . . . . . . . . . . . . . . . . . . . . . . . . 332 [1] Calculation of Minimum Distribution Amount . . . . . . . . . 332 [2] Applicable Divisor Used to Determine the Minimum Distribution Amount . . . . . . . . . . . . . . . . . . 333 [3] Account Balance Used with Divisor to Determine the Minimum Distribution Amount . . . . . . . . . . . . . . . . . . 337 [E] Employee Dies After His/Her RBD . . . . . . . . . . . . . . . . . . . . 339 [F] How and When the Beneficiary Designation is Made . . . . . . 341 3208-Chapter_FM.qxd 6/7/06 3:34 PM Page xxiv TABLE OF CONTENTS xxv ? 14.05 Excise Taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 344 [A] Early Distribution Penalty . . . . . . . . . . . . . . . . . . . . . . . . . . . 344 [B] Minimum Distribution Rules . . . . . . . . . . . . . . . . . . . . . . . . . 346 [C] Excess Distribution Penalty (Now Historic) . . . . . . . . . . . . . 346 [D] Excess Accumulations Penalty (Now Historic) . . . . . . . . . . . 347 ? 14.06 Miscellaneous Rules . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 347 Class Discussion Problems . . . . . . . . . . . . . . . . . . . . . . . . 348 Homework Problems for Chapter 14 . . . . . . . . . . . . . . . . . 349 Answers to Homework Problems for Chapter 14 . . . . . . . . 351 CHAPTER 15 DETERMINATION LETTERS, PLAN DISQUALIFICATION AND CORRECTION PROGRAMS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 353 ? 15.01 The Determination Letter Process . . . . . . . . . . . . . . . . . . . 353 ? 15.02 Plan Disqualification . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 357 ? 15.03 Voluntary Correction Programs Initiated by the Service . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 359 [A] Historical Background . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 361 [B] Goals and Structure of the Current EPCRS . . . . . . . . . . . . . 363 [1] Model Correction Principles . . . . . . . . . . . . . . . . . . . . . . . . 364 [2] Self Correction Program (SCP) . . . . . . . . . . . . . . . . . . . . . 365 [3] Voluntary Correction Program (VCP) . . . . . . . . . . . . . . . . 370 [4] Specific Correction Methods Under the Revenue Procedure . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 372 [5] Audit CAP . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 373 ? 15.04 Voluntary Compliance Programs Initiated by EBSA . . . . . 374 [A] Voluntary Fiduciary Correction Program (VFCP) . . . . . . . . . 374 [B] Delinquent Filer Voluntary Correction Program (DFVCP) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 375 Class Discussion Questions . . . . . . . . . . . . . . . . . . . . . . . . 382 Homework Problems for Chapter 15 . . . . . . . . . . . . . . . . . 384 Answers to Homework Problems for Chapter 15 . . . . . . . . 387 PART II: TAX RULES APPLICABLE TO WELFARE BENEFITS AND NONQUALIFIED DEFERRED COMPENSATION PLANS AND ERISA RULES APPLICABLE GENERALLY TO ALL EMPLOYEE BENEFITS PLANS 3208-Chapter_FM.qxd 6/7/06 3:34 PM Page xxv xxvi TABLE OF CONTENTS CHAPTER 16 TAX RULES APPLICABLE TO WELFARE BENEFITS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 393 ? 16.01 Introduction . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 393 ? 16.02 Group Term Life Insurance . . . . . . . . . . . . . . . . . . . . . . . . . 394 ? 16.03 Group Medical and Dental Benefits . . . . . . . . . . . . . . . . . . 395 ? 16.04 Educational Assistance Benefits . . . . . . . . . . . . . . . . . . . . . 397 ? 16.05 Cafeteria Plans . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 397 ? 16.06 Health Care Flexible Spending Accounts . . . . . . . . . . . . . . 398 ? 16.07 Dependent Care Assistance . . . . . . . . . . . . . . . . . . . . . . . . . 399 ? 16.08 Adoption Assistance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 400 ? 16.09 Medical Savings Accounts (MSAs) . . . . . . . . . . . . . . . . . . . 400 ? 16.10 Health Savings Accounts . . . . . . . . . . . . . . . . . . . . . . . . . . 400 ? 16.11 Transportation Reimbursement . . . . . . . . . . . . . . . . . . . . . 401 ? 16.12 Miscellaneous Fringe Benefits . . . . . . . . . . . . . . . . . . . . . . 402 [A] Achievement Awards . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 402 [B] Athletic Facilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 402 [C] De Minimis Benefits . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 402 [D] Employee Discounts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 402 [E] Meals and/or Lodging on Business Premises . . . . . . . . . . . . 403 [F] Moving Expense Reimbursements . . . . . . . . . . . . . . . . . . . . . 403 [G] No Additional Cost Services . . . . . . . . . . . . . . . . . . . . . . . . . 403 [H] Retirement planning services . . . . . . . . . . . . . . . . . . . . . . . . 403 [I] Working Condition Fringe . . . . . . . . . . . . . . . . . . . . . . . . . . . 404 ? 16.13 Long Term Care Insurance . . . . . . . . . . . . . . . . . . . . . . . . . 404 ? 16.14 Severance Benefits . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 404 Class Discussion Problems . . . . . . . . . . . . . . . . . . . . . . . . 406 Homework Problems for Chapter 16 . . . . . . . . . . . . . . . . . 407 Answer to Homework Problems for Chapter 16 . . . . . . . . 409 CHAPTER 17 NONQUALIFIED DEFERRED COMPENSATION PLANS . . . . . . . . . . . . . . . . . . . . 411 ? 17.01 Introduction to Nonqualified Deferred Compensation Plans . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 411 ? 17.02 Reasons for Deferred Compensation Plans . . . . . . . . . . . . . 412 ? 17.03 Coverage Under ERISA . . . . . . . . . . . . . . . . . . . . . . . . . . . 413 3208-Chapter_FM.qxd 6/7/06 3:34 PM Page xxvi TABLE OF CONTENTS xxvii ? 17.04 Brief History of the Pre-2005 Tax Rules . . . . . . . . . . . . . . . 414 [A] Constructive Receipt Rules . . . . . . . . . . . . . . . . . . . . . . . . . . 414 [B] Economic Benefit Doctrine . . . . . . . . . . . . . . . . . . . . . . . . . . . 416 [C] Code ? 83 Application . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 416 [D] Use of Rabbi Trusts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 417 ? 17.05 Advent of Code ? 409A . . . . . . . . . . . . . . . . . . . . . . . . . . . . 418 [A] Structure of Code ? 409A and Penalties for Noncompliance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 418 [B] Definition of a Nonqualified Deferred Compensation Plan . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 419 [C] Timing of Elections, Subsequent Changes and Distributions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 421 [D] Rabbi Trust Rules . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 423 [E] Effective Date and Grandfathering Rules . . . . . . . . . . . . . . . 423 [F] Reporting and Withholding Requirements . . . . . . . . . . . . . . . 424 Class Discussion Problems . . . . . . . . . . . . . . . . . . . . . . . . 426 Homework Problems for Chapter 17 . . . . . . . . . . . . . . . . . 427 Answers to Homework Problems for Chapter 17 . . . . . . . . 428 CHAPTER 18 FIDUCIARY RULES AND PROHIBITED TRANSACTIONS . . . . . . . . . . . . . . . . . . . . . . . . . . . 429 ? 18.01 Introduction to Fiduciary Responsibility Under ERISA . . . 430 ? 18.02 Definition of terms . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 430 ? 18.03 Contents of Plan and Trust Documents . . . . . . . . . . . . . . . 431 ? 18.04 Fiduciary Duties . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 433 [A] General Fiduciary Duties . . . . . . . . . . . . . . . . . . . . . . . . . . . . 433 [B] Trustee Fiduciary Duties . . . . . . . . . . . . . . . . . . . . . . . . . . . . 434 [C] Delegation of Fiduciary Duties . . . . . . . . . . . . . . . . . . . . . . . 434 [D] Co-Fiduciary Liability . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 435 ? 18.05 Bonding Requirements . . . . . . . . . . . . . . . . . . . . . . . . . . . . 435 ? 18.06 Prohibited Transactions and Self Dealing Acts . . . . . . . . . 435 [A] Four Specific Categories . . . . . . . . . . . . . . . . . . . . . . . . . . . . 436 [B] Prohibited Acts (Self Dealing) . . . . . . . . . . . . . . . . . . . . . . . . 437 ? 18.07 Exemptions to the Prohibited Transaction Rule . . . . . . . . . 438 ? 18.08 Statutory Exemptions to the Prohibited Transaction Rules . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 439 3208-Chapter_FM.qxd 6/7/06 3:34 PM Page xxvii xxviii TABLE OF CONTENTS ? 18.09 Qualifying Employer Securities . . . . . . . . . . . . . . . . . . . . . 441 ? 18.10 Protection of ERISA ? 404(c) . . . . . . . . . . . . . . . . . . . . . . . . 442 ? 18.11 Liability Under ERISA for Fiduciary Violations . . . . . . . . . 443 [A] ERISA Causes of Action . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 443 [B] Federal Jurisdiction . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 443 [C] ERISA Preemption . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 444 [D] Statute of Limitations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 444 [E] Personal Liability . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 444 [F] Co-Fiduciary Liability . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 444 [G] Nonfiduciary Liability . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 445 [H] Penalty Taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 445 [I] Criminal Penalties . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 446 Class Discussion Problems . . . . . . . . . . . . . . . . . . . . . . . . 457 Homework Problems for Chapter 18 . . . . . . . . . . . . . . . . . 459 Answers to Homework Problems for Chapter 18 . . . . . . . . 463 CHAPTER 19 CIVIL LITIGATION UNDER ERISA . . . . . . . . . . . 467 ? 19.01 Introduction to ERISA?s Enforcement Scheme . . . . . . . . . . 467 [A] ERISA?s Claims Procedures . . . . . . . . . . . . . . . . . . . . . . . . . . 468 [B] ERISA?s Preemption Clause . . . . . . . . . . . . . . . . . . . . . . . . . 469 ? 19.02 Causes of Actions and Parties With Standing . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 471 ? 19.03 Subject Matter and Personal Jurisdiction . . . . . . . . . . . . . . 473 [A] Exclusive Jurisdiction . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 473 [B] Removal to Federal District Court . . . . . . . . . . . . . . . . . . . . . 473 ? 19.04 Venue and Service of Process . . . . . . . . . . . . . . . . . . . . . . . 474 ? 19.05 Exhaustion of Administrative Remedies . . . . . . . . . . . . . . . 474 ? 19.06 Statute of Limitations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 476 ? 19.07 Judicial Standards of Review in ERISA Cases . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 476 [A] Pre-Firestone Law . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 476 [B] Post-Firestone Cases . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 477 ? 19.08 Evolving Remedies Under ERISA Causes of Action . . . . . . 479 [A] Remedies by Function . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 479 [B] Remedies in Terms of Historical Origins . . . . . . . . . . . . . . . . 480 3208-Chapter_FM.qxd 6/7/06 3:34 PM Page xxviii TABLE OF CONTENTS xxix ? 19.09 Statutory Remedies Under ERISA Causes of Action . . . . . 481 [A] Denial of Benefits Claims . . . . . . . . . . . . . . . . . . . . . . . . . . . 481 [B] Breaches of Fiduciary Duties . . . . . . . . . . . . . . . . . . . . . . . . 482 [C] ERISA ? 502(a)(3) Relief . . . . . . . . . . . . . . . . . . . . . . . . . . . . 483 ? 19.10 Evolving Remedies Under the Various ERISA Causes of Action . . . . . . . . . . . . . . . . . . . . . . . . . . . 484 [A] Use of Equitable Estoppel . . . . . . . . . . . . . . . . . . . . . . . . . . . 484 [B] Use of Constructive Trusts . . . . . . . . . . . . . . . . . . . . . . . . . . 487 [C] Prejudgment Interest . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 487 [D] Injunctive Relief . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 488 [E] Declaratory Judgment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 489 [F] Specific Performance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 489 [G] Punitive Damages . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 490 ? 19.11 Conclusion . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 490 Class Discussion Problems . . . . . . . . . . . . . . . . . . . . . . . . 491 Homework Problems for Chapter 19 . . . . . . . . . . . . . . . . . 492 Answers to Homework Problems for Chapter 19 . . . . . . . . 494 CHAPTER 20 REPORTING AND DISCLOSURE REQUIREMENTS . . . . . . . . . . . . . . . . . . . . . . . . . . 497 ? 20.01 Introduction to ERISA Reporting and Disclosure Requirements . . . . . . . . . . . . . . . . . . . . . . . 497 ? 20.02 Plans Subject to ERISA Reporting and Disclosure Requirements . . . . . . . . . . . . . . . . . . . . . . . 498 ? 20.03 Annual Reporting Requirements and Forms . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 499 ? 20.04 Miscellaneous Reporting and Disclosure . . . . . . . . . . . . . . . 501 ? 20.05 PBGC Reporting and Disclosure . . . . . . . . . . . . . . . . . . . . . 506 ? 20.06 Enforcement . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 510 Homework Problems for Chapter 20 . . . . . . . . . . . . . . . . . 511 Answers to Homework Problems for Chapter 20 . . . . . . . . 512 3208-Chapter_FM.qxd 6/7/06 3:34 PM Page xxix 3208-Chapter_FM.qxd 6/7/06 3:34 PM Page xxx
Library of Congress Subject Headings for this publication:
Pension trusts -- Law and legislation -- United States.
Employee fringe benefits -- Law and legislation -- United States.
Deferred compensation -- Law and legislation -- United States.