Governmental Plans Answer Book, Second Edition / Edition 2

Governmental Plans Answer Book, Second Edition / Edition 2

by Carol V. Calhoun, Cynthia L. Moore
     
 

Written by a team of practicing experts, preeminent in their fields, Governmental Plans Answer Book takes the reader step-by-step through the various laws that govern such plans. For those practitioners with private plan experience who wish to workSee more details below

Overview

Written by a team of practicing experts, preeminent in their fields, Governmental Plans Answer Book takes the reader step-by-step through the various laws that govern such plans. For those practitioners with private plan experience who wish to work

Product Details

ISBN-13:
9780735560178
Publisher:
Wolters Kluwer Law & Business
Publication date:
11/22/2006
Pages:
794
Product dimensions:
10.00(w) x 7.00(h) x 1.63(d)

Table of Contents

1. Introduction to Governmental Plans

• What Is a Governmental Plan?
• Importance of Differences Between Governmental Plans and Private Plans

2. Structure of State and Local Governmental Plans

• General Information About State and Local Governmental Plans
• Creating Entity, Governing Law, and Individuals Covered
• Entity That Administers the Plans
• Assets in State and Local Governmental Retirement Plans
• Contributions
• Comparison of Defined Benefit Plans with Defined Contribution Plans
• Portability of Benefits Under Defined Benefit Plans
• Benefits Provided by Retirement Systems and Plans
• Special Types of Plans
• Protections for the Plans and Their Participants
• Employer Pickups
• Joint and Survivor Annuities
• State Vesting Rules

3. Identifying the Employer

• Reasons for Identifying the Employer
• Definitions of Employer
• Controlled Group Rules
• Independent Contractors
• Leased Employees

4. Obtaining Favorable Tax Status

• Effect of Favorable Tax Status
• Types of Favorable Tax Status
• Requirements for Qualified Plan (Section 401(a)) Status
• Requirements for Qualified Plan (Section 403(a)) Status
• Requirements for Tax-Deferred Annuity or Custodial Account (Section 403(b)) Status
• Requirements for Section 457(b) Status
• Requirements for Deemed IRA (Section 408(q)) Status
• Pretax Employee Contributions
• IRS Audit Activity
• Correction Procedures

5. Reporting

• Purpose of Reporting by State and Local Governmental Plans
• Annual Statement of Member's Account
• Other Ways in Which Retirement Systems Communicate with Plan Participants
• Summary Plan Description
• Annual Reports
• Open Meetings Laws
• Open Records Laws

6. Governmental Plan Funding

• Federal Rules
• Qualified (401(a)) Defined Benefit Plans
• Typical State Rules

7. Investment of Plan Assets

• Federal Fiduciary Requirements
• State Fiduciary Requirements
• Federal Prohibited Transaction Rules
• State Prohibited Transaction Rules
• Uniform Management of Public Employee Retirement Systems Act and Uniform Prudent Investor Act
• Legal List Statutes
• Social Investing
• State Conflict of Interest Statutes and State Codes of Ethics
• Wholly Owned Investments and Investments in Non-Publicly Traded Equity Securities
• Unrelated Business Income Tax Issues

8. Selecting a Service Provider

• State Law Issues
• ERISA Analogies
• Practical Steps for Meeting Fiduciary Duties in Choosing a Service Provider
• Breaches of Fiduciary Duty in Selecting a Service Provider
• Modification of Procedures for Selecting a Service Provider
• Fiduciary Duties After a Service Provider Is Selected

9. Remedies for Fiduciary Breach

• Criminal Penalties
• Civil Remedies
• Avoiding Fiduciary Liability

10. Participation

• Federal Participation Rules
• State Participation Rules

11. Distributions

• Common Forms of Distribution
• Federal Restrictions on Distributions
• Definition of Retirement
• Taxation of Distributions
• Rollovers and Plan-to-Plan Transfers
• Withholding on Distributions
• Reporting of Distributions

12. Beneficiary Designations

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