IRS announces changes to determination letter program
|
|
- Daisy Fowler
- 6 years ago
- Views:
Transcription
1 Imprtant infrmatin Plan Administratin and peratin IRS annunces changes t determinatin letter prgram Wh s affected The IRS recently released Revenue Prcedure , making majr changes t the determinatin letter prgram fr individually designed defined benefit and defined cntributin plans. The revenue prcedure als includes changes fr preapprved Master and Prttype and Vlume Submitter plans. These changes affect qualified defined benefit and defined cntributin plans, ERISA 403(b) plans and qualified defined benefit and defined cntributin gvernmental plans. Backgrund and summary The IRS determinatin letter prgram fr qualified plans has existed t prvide plan spnsrs with assurance that their plan dcuments cmply with applicable federal laws and regulatins and are therefre eligible fr tax-favred status. When a qualified plan has tax-favred status, emplyers are eligible t take tax deductins fr the cntributins they make t the plan, the assets in the plan s trust are tax-exempt, and plan participants are nt subject t taxatin f their benefits until they receive distributins frm the plan. Althugh the IRS psitin has been that plan spnsrs are never required t btain determinatin letters, certain crrectin prgrams require the existence f a determinatin letter and many plan spnsrs want the security f knwing that their dcuments cmply with legal requirements. Originally, mst plan dcuments were individually designed plans (IDPs). Hwever, with the grwth in the number f plans ffered, the IRS began t encurage the use f pre-apprved Master and Prttype (Prttype) r Vlume Submitter dcuments. Once the IRS reviewed and apprved the base Prttype and Vlume Submitter dcuments, many adpting emplyers did nt need t request additinal reviews t receive assurance that their dcuments were tax-qualified. The Internal Revenue Cde (Cde) prvides a remedial amendment perid during which a plan may be amended retractively t cmply with the Cde s qualificatin requirements. In 2007, the IRS issued Revenue Prcedure , which prvided a 5-year remedial amendment cycle (RAC) system fr amended IDPs t request a determinatin letter generally every 5 years. Under that system, plans had t adpt interim amendments fr items listed n the Cumulative List f Changes in Plan Qualificatin Requirements. This system required IDPs t be amended n an interim basis by the end f the year in which the amendments became effective. IDPs wuld then have t make final cnfrming amendments at the end f their 5-year RAC cycle. Due t limited resurces and budget cnstraints, the IRS stated in Annuncement that the RAC system wuld end, and a replacement prgram fr the remedial amendment perid wuld be created. Rev. Prc fficially ends the RAC system and replaces it with a new streamlined apprach t the remedial amendment perid. Actin and next steps The changes t the determinatin letter prgram are effective January 1, Plan spnsrs shuld carefully read the infrmatin discussed in this newsletter and becme familiar with the changes t the IRS determinatin letter prgram. If they have any questins regarding the impact f these changes n their plans, they shuld cnsult with their legal cunsel. Prudential, the Prudential lg, the Rck symbl and Bring Yur Challenges are service marks f Prudential Financial, Inc., and its related entities, registered in many jurisdictins wrldwide. 1
2 In this issue Majr changes fr IDPs Eliminatin f determinatin letter prgram Extensin f remedial amendment perid Additinal changes t IDPs Terminating plans Other plan amendment deadlines Changes fr pre-apprved plans Additinal changes applicable t all plans Next steps Majr changes fr IDPs Eliminatin f determinatin letter prgram Revenue Prcedure fficially eliminates as f January 1, 2017, the staggered 5-year remedial amendment cycle (RAC) fr IDPs, described in Revenue Prcedure As f that date, the IRS will n lnger accept determinatin letter applicatins based n the 5-year RAC. Hwever, spnsrs f Cycle A plans (i.e., generally plan spnsrs with emplyer identificatin numbers ending in 1 r 6) may cntinue t submit determinatin letter applicatins during the perid beginning February 1, 2016, and ending January 31, Prspectively, plan spnsrs f IDPs may nly submit a determinatin letter applicatin fr the fllwing situatins: Initial plan qualificatin. Qualificatin upn plan terminatin. An applicatin is filed in cnnectin with plan terminatin nly if it is filed n later than the later f: One year frm the effective date f terminatin; r One year frm the date n which the actin terminating the plan is taken. Hwever, an applicatin may nt be filed later than 12 mnths frm the date f distributin f substantially all plan assets in cnnectin with the plan terminatin. Other circumstances. The IRS will annually cnsider whether determinatin letter applicatins will be accepted fr IDPs in specific circumstances. The IRS will cnsider the fllwing factrs in evaluating whether t accept determinatin letter applicatins fr certain amended plans: Significant law changes; New appraches t plan design; The inability f certain types f plans t cnvert t pre-apprved plan dcuments (e.g. cmplex defined benefit plans r multiemplyer plans); and IRS current caselad and available resurces. Peridically, the IRS intends t request cmments n additinal situatins in which a determinatin letter applicatin may be apprpriate. Extensin f remedial amendment perid The IRS als extends the remedial amendment perid t crrect disqualifying prvisins fr nngvernmental plans: New plans. The remedial amendment perid fr a new plan is extended t the later f: Prudential, the Prudential lg, the Rck symbl and Bring Yur Challenges are service marks f Prudential Financial, Inc., and its related entities, registered in many jurisdictins wrldwide. 2
3 The 15 th day f the 10 th calendar mnth after the end f the plan s initial plan year; r The mdified Sectin 401(b) expiratin date. Fr a plan that is nt maintained by a tax exempt emplyer, the mdified Sectin 401(b) expiratin date is the date the emplyer s incme tax return (with an extensin) is due. Fr a plan that is maintained by a tax exempt emplyer, the mdified Sectin 401(b) expiratin date is the due date fr filing the emplyer s Frm 990 series (with an extensin). If a Frm 990 series filing is nt required, the mdified Sectin 401(b) expiratin date is the 15 th day f the 10 th mnth after the end f the emplyer s tax year (treating the calendar year as the tax year if the emplyer des nt have a tax year). Fr amendments t existing plans. The remedial amendment perid is extended t the end f the secnd calendar year fllwing the calendar year in which the amendment is adpted r effective, whichever is later. This extensin des nt apply t changes in qualificatin requirements reflected in the Required Amendments List. The Required Amendments List is the annual list f all the amendments fr which an IDP must be amended t retain its qualified plan status Fr changes in qualificatin requirements. The remedial amendment perid is extended t the end f the secnd calendar year that begins after the IRS issues the Required Amendments List. The IRS als extends the remedial amendment perid fr gvernmental plans as fllws: New plans. The remedial amendment perid fr a new plan that is a gvernmental plan is extended t the later f: The date described abve fr new nngvernmental plans; r 90 days after the clse f the secnd regular legislative sessin f the legislative bdy with the authrity t amend the plan that begins after the end f the initial plan year. Fr amendments t existing plans. The remedial amendment perid is extended t the later f: The date described abve fr existing nngvernmental plans; r 90 days after the clse f the third regular legislative sessin f the legislative bdy with the authrity t amend the plan that begins after the calendar year in which the amendment is adpted r effective, whichever is later. Fr changes in qualificatin requirements. The remedial amendment perid is extended t the later f: The date described abve fr changes in qualificatin requirements fr nngvernmental plans; r 90 days after the clse f the third regular sessin f the legislative bdy with the authrity t amend the plan that begins n r after the date the IRS issues the Required Amendments List. Additinal changes t IDPs The IRS als makes the fllwing revisins applicable t IDPs: Effective January 1, 2017, the interim amendment requirement stated in Revenue Prcedure will n lnger apply t IDPs. This revisin applies t interim amendments that wuld have had an adptin deadline n r after January 1, Fr disqualifying prvisins that may ccur due t changes in qualificatin requirements, the IRS plans t annually publish a Required Amendments List, which will establish the amendment deadline fr a plan. The deadline will be, unless therwise prvided, the end f the secnd calendar year fllwing the year in which the list is issued. In general, a change t the qualificatin requirements will nt appear n this list until guidance has been prvided with respect t the change, including any mdel amendments. The first Required Amendments List will apply t changes first effective during the 2016 calendar year. A disqualifying prvisin is a prvisin that causes the plan t fail t satisfy the qualificatin requirements f the Cde. The IRS prvides a transitin rule that extends the remedial amendment perid t crrect certain disqualifying prvisins t December 31, This perid was riginally set t expire n December 31, Reliance n determinatin letters. The revenue prcedure cnfirms that effective as f January 4, 2016, determinatin letters issued t IDPs will n lnger cntain an expiratin date. A plan spnsr that has received a favrable determinatin letter may nt cntinue t rely n the letter with respect t a plan prvisin that is later amended r affected by a change in law. Hwever, a plan spnsr may cntinue t rely n a determinatin letter fr plan prvisins that are nt amended r affected by a change in law. Prudential, the Prudential lg, the Rck symbl and Bring Yur Challenges are service marks f Prudential Financial, Inc., and its related entities, registered in many jurisdictins wrldwide. 3
4 Terminating plans A plan terminatin ends the plan s remedial amendment perid. Any retractive remedial plan amendments r required plan amendments t reflect qualificatin requirements that apply as f the plan terminatin date must be adpted with a plan terminatin regardless f whether the requirements are included n a Required Amendments List. Other plan amendment deadlines Discretinary amendments are amendments that may be adpted by the plan, but are nt required. A discretinary amendment must be adpted by the end f the plan year in which the plan amendment is peratinally effective. Gvernmental plans must adpt a discretinary amendment by the later f: The end f the plan year in which the plan amendment is peratinally put int effect; r 90 days after the end f the secnd regular legislative sessin f the legislative bdy with the authrity t amend the plan that begins n r after the date the plan amendment is peratinally put int effect. Changes fr pre-apprved plans The IRS als prvided the fllwing guidance applicable t pre-apprved prttype and vlume submitter plans: Pre-apprved (master and prttype and vlume submitter) plans cntinue t have a regular, six-year remedial amendment cycle. There is a separate six-year cycle fr all defined benefit plans and a separate six-year cycle fr all defined cntributin plans. This six-year perid generally prvides pre-apprved plan spnsrs with tw years t adpt the updated dcuments. The beginning f the 12-mnth submissin perid fr prttype and vlume submitter plans t submit pre-apprved defined cntributin plans fr pinin r advisry letters during the third six-year remedial amendment cycle was scheduled t begin February 1, 2017, and end January 31, Hwever, the third six-year remedial amendment is delayed and will begin August 1, 2017, and end July 31, The deadline fr an emplyer t adpt a newly apprved pre-apprved defined cntributin plan and t apply fr a determinatin letter, if applicable, is extended frm April 30, 2016 t April 30, 2017, fr any newly apprved preapprved defined cntributin plan adpted n r after January1, The schedules fr the secnd and third remedial amendment cycles fr pre-apprved plans will cntinue n six year intervals as fllws Schedule(s) f Secnd and Third Six-Year Remedial Amendment Cycles If the plan is- The secnd six-year remedial amendment cycle began n- And ends n - Defined Cntributin February 1, 2011 January 31, 2017 Defined Benefit February 1, 2013 January 31, 2019 If the plan is - The third six-year remedial amendment cycle begins n- And ends n - Defined Cntributin February 1, 2017 January 31, 2023 Defined Benefit February 1, 2019 January 31, 2025 Prudential, the Prudential lg, the Rck symbl and Bring Yur Challenges are service marks f Prudential Financial, Inc., and its related entities, registered in many jurisdictins wrldwide. 4
5 Additinal changes applicable t all plans T assist plan spnsrs, in achieving peratinal cmpliance, the IRS plans t annually prvide an Operatinal Cmpliance List t identify changes in qualificatin requirements that are effective during a calendar year. Hwever, in rder t be qualified, a plan must peratinally cmply with each qualificatin requirement, even if the requirement is nt included n the Operatinal Cmpliance List. Next steps The IRS has intrduced significant changes t the determinatin letter prgram. Plan spnsrs shuld becme familiar with the guidance discussed in this newsletter and assess the impact n their plans. If they have any questins regarding the changes in the determinatin letter prgram, they shuld cntact their legal cunsel. It is unclear hw this guidance applies t plans that are making crrectins under the prvisins f the IRS Emplyee Plans Cmpliance Reslutin System (EPCRS) that require the cncurrent submissin f a determinatin letter applicatin. We anticipate additinal IRS guidance regarding the determinatin letter prgram. We will cntinue t mnitr IRS activity n this tpic and keep yu infrmed f these develpments. Pensin Analyst by Prudential Retirement The Pensin Analyst is published by Prudential Retirement, a Prudential Financial business, t prvide clients with infrmatin n current legislatin and regulatry develpments affecting qualified retirement plans. This publicatin is distributed with the understanding that Prudential Retirement is nt rendering legal advice. Plan spnsrs shuld cnsult their attrneys abut the applicatin f any law t their retirement plans. Editr: Julie Ks (563) Prudential, the Prudential lg, the Rck symbl and Bring Yur Challenges are service marks f Prudential Financial, Inc., and its related entities, registered in many jurisdictins wrldwide. 5
Summary Plan Descriptions
Summary Plan Descriptins All grup health plans subject t the Emplyee Retirement Incme Security Act (ERISA) are required t prvide participants with a Summary Plan Descriptin (SPD). An SPD must be written
More informationTax Reform Series II: Retirement Plan and IRA Provisions
If yu have questins, please cntact yur regular Grm attrney r ne f the attrneys listed belw: Elizabeth Dld edld@grm.cm (202) 861-5406 David Levine dlevine@grm.cm (202) 861-5436 Mark Lfgren mlfgren@grm.cm
More informationSTATE OF NEW YORK MUNICIPAL BOND BANK AGENCY
STATE OF NEW YORK MUNICIPAL BOND BANK AGENCY Recvery Act Bnd Prgram Written Prcedures fr Tax Cmpliance and Internal Mnitring, adpted September 12, 2013 PROGRAM OVERVIEW The State f New Yrk Municipal Bnd
More informationOverview of Statements of Investment Policies and Procedures (SIPP) Requirements
Financial Services Cmmissin f Ontari Cmmissin des services financiers de l Ontari SECTION: INDEX NO.: TITLE: APPROVED BY: PUBLISHED: Investment Guidance Ntes IGN-005 Overview f Statements f Investment
More informationClient Advisory. Pension Changes Proposed: Federal Funding and Investment Rules. Proposed Funding Rules. Summary
Client Advisry Pensin Changes Prpsed: Federal Funding and Investment Rules May 7, 2010 Summary On May 3, 2010, the Federal Minister f Finance (Finance) released Regulatins Amending Certain Regulatins Made
More informationSteps toward Retirement
Steps tward Retirement Eligibility, Actin Steps, and Benefit Optins fr Faculty and Staff Nearing Retirement Eligibility fr Official University Retiree Status The fllwing jb types f the University are eligible
More informationUK Employment Law Changes in 2010: New Statutory Rates, Limits and Entitlements
February 2010 UK Emplyment Law Changes in 2010: New Statutry Rates, Limits and Entitlements BY CHRIS BRACEBRIDGE AND ANNA SANFORD At a Glance Varius changes t emplyment related cmpensatin, benefit and
More informationFOR PLAN ADMINISTRATORS
QDRO INFORMATIONAL KIT FOR PLAN ADMINISTRATORS T ensure cmpliance with requirements impsed by the IRS, we infrm yu that any infrmatin cntained in this cmmunicatin (including any attachments) was nt intended
More informationHighlights for 2017 Compliance
Prvided by Natinal Insurance Services, Inc. Highlights fr 2017 Cmpliance The Affrdable Care Act (ACA) has made a number f significant changes t grup health plans since the law was enacted in 2010. Many
More informationStandard INT Evaluation of Interchange Transactions
Standard INT-006-4 Evaluatin f Interchange Transactins A. Intrductin 1. Title: Evaluatin f Interchange Transactins 2. Number: INT-006-4 3. Purpse: T ensure that respnsible entities cnduct a reliability
More informationSummary Plan Descriptions (SPD)
Descriptins (SPD) SPDs What Are They and Wh Needs Them? What is an SPD? The DOL defines the SPD as the Primary vehicle fr infrming participants and beneficiaries abut their plan and hw it perates. Must
More informationOFFICE OF THE PRESIDENT HUMAN RESOURCES POLICY MANUAL SECTION 11 JULY 28, 2006 REDUCTION IN FORCE GUIDELINES
Purpse A reductin in frce is an actin t reduce the number f emplyees in a wrk unit r university-wide. A reductin in frce may becme necessary due t reduced funding, rerganizatin, change in wrklad, r ablishment
More informationPROCESS FOR NATIONAL CAPITOL AREA GARDEN DISTRICTS, CLUBS AND COUNCILS CHOOSING TO FILE FOR 501(C)3 GROUP EXEMPTION
PROCESS FOR NATIONAL CAPITOL AREA GARDEN DISTRICTS, CLUBS AND COUNCILS CHOOSING TO FILE FOR 501(C)3 GROUP EXEMPTION What is a grup exemptin letter? The IRS smetimes recgnizes a grup f rganizatins as tax-exempt
More informationEPPA Update Issued September 2012 / Updated October, 2012 Defined Benefit Funding Relief Provisions
EPPA Update 12-01 Issued September 2012 / Updated Octber, 2012 Defined Benefit Funding Relief Prvisins - 2012 In respnse t the decline f slvency discunt rates, the Emplyment Pensin Plans (Partial Exemptin
More informationTown of Palm Beach Retirement System. Deferred Retirement Option Plan (DROP) Policies and Information for Participants
Twn f Palm Beach Retirement System Deferred Retirement Optin Plan (DROP) Plicies and Infrmatin fr Participants Twn f Palm Beach Retirement System Deferred Retirement Optin Plan (DROP) Plicies and Infrmatin
More informationClient Advisory. New Rules for Ontario Pension Plan Asset Transfers Take Effect on January 1, Background
Client Advisry New Rules fr Ontari Pensin Plan Asset Transfers Take Effect n January 1, 2014 December 18, 2013 Summary Spnsrs f Ontari registered pensin plans will sn be able t take advantage f lnganticipated
More informationSummary Plan Descriptions (SPDs)
Prvided by Byd Cnsulting Grup Summary Plan Descriptins (SPDs) All grup health plans subject t the Emplyee Retirement Incme Security Act (ERISA) are required t prvide participants with a summary plan descriptin
More informationUCEA/ECU Age Discrimination Working Group Guidance. Age Discrimination Legislation Guidance Note 1: Pay and Benefits A UCEA Publication
UCEA/ECU Age Discriminatin Wrking Grup Guidance Age Discriminatin Legislatin 2006 Guidance Nte 1: Pay and Benefits A UCEA Publicatin Scpe f guidance This guidance nte addresses the implicatins f the Emplyment
More informationSummary Plan Descriptions (SPDs)
Prvided by McGriff Insurance Services, Inc., McGriff, Seibels & Williams, Inc., BB&T Insurance Services f Califrnia, Inc., and Precept Insurance Slutins, LLC Summary Plan Descriptins (SPDs) Delivery Requirements:
More informationThe UK Register of Trusts 21 December 2017
The UK Register f Trusts 21 December 2017 If yu are a trustee f a UK resident trust r f a nn-resident trust which has UK assets r UK surce incme yu may need t take actin befre 5 January 2018. Backgrund
More informationPuerto Rico Treasury Department Finally Grants Relief to Participants Affected by Hurricane Maria
Nvember 16, 2017 If yu have questins, please cntact yur regular Grm attrney r ne f the attrneys listed belw: Juan Luis Alns jalns@grm.cm (202) 861-6632 Elizabeth T. Dld edld@grm.cm (202) 861-5406 David
More informationINT Evaluation of Interchange Transactions. A. Introduction
A. Intrductin 1. Title: Evaluatin f Interchange Transactins 2. Number: INT-006-5 3. Purpse: T ensure that respnsible entities cnduct a reliability assessment f each Arranged Interchange befre it is implemented.
More informationAssessing the Impact of Proposed California Assembly Bill No on "Pay to Play"
Assessing the Impact f Prpsed Califrnia Assembly Bill N. 1743 n "Pay t Play" Cntributed by: Kenneth Muller, Thmas Devaney, and Seth Chertk, Mrrisn & Ferster LLP Califrnia Assembly Bill N. 1743 (Bill) passed
More informationSPECIAL CIRCUMSTANCES REPAYMENT / REMISSION / RE-CREDIT APPLICATION
INSTRUCTIONS SPECIAL CIRCUMSTANCES REPAYMENT / REMISSION / RE-CREDIT APPLICATION Wh shuld use this frm? This frm applies t all internatinal and dmestic fee paying students and all dmestic Cmmnwealth supprted
More informationCHARTER OF THE COMPENSATION COMMITTEE OF THE BOARD OF DIRECTORS OF PLURALSIGHT, INC. Adopted May 3, 2018
CHARTER OF THE COMPENSATION COMMITTEE OF THE BOARD OF DIRECTORS OF PLURALSIGHT, INC. Adpted May 3, 2018 PURPOSE The purpse f the Cmpensatin Cmmittee (the Cmpensatin Cmmittee ) f the Bard f Directrs (the
More informationHow to Count Employees Determining Group Size Under the Medicare Secondary Payer Regulations
Hw t Cunt Emplyees Determining Grup Size Under the Medicare Secndary Payer Regulatins 1. Wh is an Emplyee? An emplyee is an individual wh wrks fr an emplyer r an individual wh, althugh nt actually wrking
More informationRev. 7/1/11. Sprint Flex Plans Eligibility and Enrollment Section
Rev. 7/1/11 Sprint Flex Plans Eligibility and Enrllment Sectin TABLE OF CONTENTS SPRINT FLEX PLANS 3 WHO IS ELIGIBLE TO PARTICIPATE IN SPRINT FLEX PLANS 3 DUPLICATE COVERAGE.. 7 ENROLLMENT.. 7 ENROLLMENT
More informationGENERAL MOTORS COMPANY AUDIT COMMITTEE CHARTER. Amended and Restated: December 13, 2017
GENERAL MOTORS COMPANY AUDIT COMMITTEE CHARTER Amended and Restated: December 13, 2017 Purpse The purpse f the Audit Cmmittee is t assist the Bard f Directrs f General Mtrs Cmpany in its versight f the
More informationThe UK Register of Trusts 23 October 2017
The UK Register f Trusts 23 Octber 2017 If yu are a trustee f a UK resident trust r f a nn-resident trust which has UK assets r UK surce incme yu may need t take actin befre 5 December 2017. Backgrund
More informationPLAN DOCUMENT TEMPORARY DISABILITY INSURANCE PROGRAM FOR LAY EMPLOYEES DIOCESE OF METUCHEN OFFICE OF HUMAN RESOURCES. Effective January 1, 2014
DIOCESE OF METUCHEN OFFICE OF HUMAN RESOURCES TEMPORARY DISABILITY INSURANCE PROGRAM FOR LAY EMPLOYEES PLAN DOCUMENT Effective January 1, 2014 (Replaces January 1, 2013 Plan Dcument) 1 CONTENTS OVERVIEW...
More informationCHARTER OF THE COMPENSATION COMMITTEE OF THE BOARD OF DIRECTORS OF DROPBOX, INC.
CHARTER OF THE COMPENSATION COMMITTEE OF THE BOARD OF DIRECTORS OF DROPBOX, INC. (Adpted n February 22, 2018, Effective upn the effectiveness f the registratin statement relating t the Cmpany s initial
More informationCHARTER OF THE COMPENSATION COMMITTEE OF THE BOARD OF DIRECTORS OF ON DECK CAPITAL, INC.
CHARTER OF THE COMPENSATION COMMITTEE OF THE BOARD OF DIRECTORS OF ON DECK CAPITAL, INC. (Adpted n September 15, 2014, amended thrugh July 29, 2016) PURPOSE The purpse f the Cmpensatin Cmmittee f the Bard
More informationEmployer Shared Responsibility (ESR) Provisions under the ACA Part II
April 1, 2013 Emplyer Shared Respnsibility (ESR) Prvisins under the ACA Part II Treasury and the IRS released prpsed regulatins n the new Emplyer Shared Respnsibility (ESR) prvisins (a/k/a Play r Pay,
More informationBest Execution & Client Order Execution Policy. October P age 1 6. BE31/10/17 v1
Best Executin & Client Order Executin Plicy Octber 2017 BE31/10/17 v1 P age 1 6 Cntents 1. Backgrund... 3 2. Order placement... 3 3. Order executin factrs... 3 4. Order executin plicy... 3 5. Order executin
More informationInternational Standard on Auditing (Ireland) 265. Communicating Deficiencies in Internal Control to Those Charged with Governance and Management
Internatinal Standard n Auditing (Ireland) 265 Cmmunicating Deficiencies in Internal Cntrl t Thse Charged with Gvernance and Management MISSION T cntribute t Ireland having a strng regulatry envirnment
More informationAMENDMENTS TO NASDAQ RULES ON COMPENSATION COMMITTEES
March 2013 AMENDMENTS TO NASDAQ RULES ON COMPENSATION COMMITTEES Summary. The Securities and Exchange Cmmissin recently apprved the fllwing amendments t the NASDAQ listing rules relating t cmpensatin cmmittees:
More informationAudit and Risk Management Committee Charter
Audit and Risk Management Cmmittee Charter Pivtal Systems Crpratin ("Cmpany") 1. Objectives The Audit and Risk Management Cmmittee (Cmmittee) has been established by the bard f directrs (Bard) f the Cmpany.
More informationUNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C FORM 8-K
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washingtn, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant t Sectin 13 r 15(d) f the Securities Exchange Act f 1934 Date f Reprt (Date f earliest event reprted)
More informationCRSP Index Governance Committees Terms of Reference. Introduction... 2 Governance and Oversight Control Framework... 3 Index Oversight Committee...
CRSP Index Gvernance Cmmittees Terms f Reference CRSP Center fr Research in Security Prices The University f Chicag Bth Schl f Business Chicag, IL 60603 Intrductin... 2 Gvernance and Oversight Cntrl Framewrk...
More informationABA Staff Analysis: Interim Rule Amending Regulation Z: Summary Information Regarding Interest Rates and Payment Changes
Summary ABA Staff Analysis: Interim Rule Amending Regulatin Z: Summary Infrmatin Regarding Interest Rates and Payment Changes September 2010 The Bard published interim rule (75 FR 58469-58489) changes
More informationRISK MANAGEMENT AND BUSINESS CONTINUANCE A FAIS Standard. An AC Guidance Note. July 2010
RISK MANAGEMENT AND BUSINESS CONTINUANCE A FAIS Standard An AC Guidance Nte July 2010 Risk Management and Business Cntinuance - A FAIS standard The General Cde f cnduct deals in a number f ways with the
More informationThe Wind Down of HAMP
Center fr NYC Neighbrhds May 2016 Curina Yulisa The Wind Dwn f HAMP This infrmatin was taken frm a Treasury webinar with Empire Justice Center. Check ut Empire Justice Center s webinar recrding n the MHA
More informationFINANCIAL SERVICES GUIDE
PART N: iinvest Securities Financial Services Guide (FSG) FINANCIAL SERVICES GUIDE DATED: Octber 2017 Cntents f this FSG This Financial Services Guide ( FSG ) is an imprtant dcument that iinvest Securities
More informationInternal Control Requirements for Adopting New Accounting Standards
Internal Cntrl Requirements fr Adpting New Accunting Standards Backgrund In previus articles, BKD discussed the U.S. Securities and Exchange Cmmissin s (SEC) expectatins regarding the requirement t disclse
More informationIRS Notice CLICK HERE to return to the home page
CLICK HERE t return t the hme page IRS Ntice 2012-9 I. PURPOSE This ntice restates and amends the interim guidance n infrmatinal reprting t emplyees f the cst f their emplyer-spnsred grup health plan cverage
More informationEra Group Inc. (Exact Name of Registrant as Specified in Its Charter)
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 8-K CURRENT REPORT Pursuant t Sectin 13 r 15(d) f the Securities Exchange Act f 1934 Date f Reprt (Date f earliest event reprted):
More information[AGENCY NAME] Mandate and Roles Document. (Pure Advisory Committees)
[This sample dcument has been develped by the Agency Gvernance Secretariat. It is intended t be used fr infrmatinal purpses nly. Agencies are encuraged t adapt the dcument t meet their specific needs.
More informationImplementing ABLE: 2016
Implementing ABLE: 2016 Mderatr: Michael Mrris, Executive Directr Natinal Disability Institute (NDI) ablenrc.rg Agenda Slide 2 ABLE Basics and Cre Cmpnents Status f Federal and State Implementatin Ntice
More informationUSDA Forest Service Project-level Objections Process
USDA Frest Service Prject-level Objectins Prcess 36 CFR Part 218, Prject-Level Pre-decisinal Administrative Review Prcess September, 2013 What is the bjectin prcess and what happened t the appeals prcess?
More informationWindham School District Procurement Policy for Federal Funds
1 f 5 Windham Schl District Prcurement Plicy fr Federal Funds DJB-FED The fllwing Prcurement Plicies shall apply t all Cntracts fr and Purchases f gds and services. All prcurements made with Federal funds
More informationSEC Adopts Rules to Enhance Order Handling Information Available to Investors
Alert SEC Adpts Rules t Enhance Order Handling Infrmatin Available t Investrs December 14, 2018 On Nv. 2, 2018, the U.S. Securities and Exchange Cmmissin adpted amendments ( Amendments ) t Rule 606 f the
More informationMICRO GROUP EMPLOYER DOCUMENTATION REQUIREMENTS
Seattle, Washingtn 98101 MICRO GROUP EMPLOYER DOCUMENTATION REQUIREMENTS D nt cancel any existing plicies until yu receive cnfirmatin f final rates and/r acceptance f the grup by Regence BlueShield (Regence).
More informationTERMS OF REFERENCE. Audit and Risk Committee (the "Committee") of Wilmcote Holdings Plc (the "Company")
References t the "Bard" shall mean the full Bard f Directrs. MEMBERSHIP - The Bard has reslved t establish a cmmittee f the Bard t be knwn as the Audit and Risk Cmmittee. - The Cmmittee shall cmprise at
More informationNO LATE ENTRIES WILL BE ACCEPTED.
THE INSTITUTE OF ADMINISTRATION AND COMMERCE IAC SUMMATIVE ASSESSMENT INFORMATION T prve yur cmpetency and gain an IAC recgnized qualificatin is the final step in yur studies. T d this, yu need t successfully
More information1. OPT and CPT questions in SEVP s Spring 2008 PowerPoint
SEVIS Technical and Plicy Cnference Call Wednesday, March 26, 2008 1. OPT and CPT questins in SEVP s Spring 2008 PwerPint... 1 2. RCL questins in SEVP s Spring 2008 PwerPint... 1 3. Update n new Requested
More informationInvestor Money Regulations
Investr Mney Regulatins A new regime fr fund service prviders in Ireland On the 30 th March 2015, the new Investr Mney Regulatins were brught int effect by Statutry Instrument 105 f 2015, with crrespnding
More informationThe Company is a public company incorporated in Bermuda and its securities are listed on AIM.
(Incrprated in Bermuda Registratin N. 44512) POLICY FOR TRADING IN COMPANY SECURITIES The Cmpany is a public cmpany incrprated in Bermuda and its securities are listed n AIM. Schedule 1 t this Plicy cntains
More informationIndependent Director and Audit Committee
Independent Directr and Audit Cmmittee Rules summary The listed cmpany s bard f directrs is representing the sharehlders. They are respnsible fr making decisins n the cmpany s imprtant plicies and strategies.
More informationVIVINT SOLAR, INC. COMPENSATION COMMITTEE CHARTER. (Adopted as of May 9, 2014)
VIVINT SOLAR, INC. COMPENSATION COMMITTEE CHARTER (Adpted as f May 9, 2014) PURPOSE The purpse f the Cmpensatin Cmmittee (the Cmmittee ) f the Bard f Directrs (the Bard ) f Vivint Slar, Inc. (the Cmpany
More informationItalian TP Documentation
TP DOCUMENTATION 64 Italian TP Dcumentatin TP Dcumentatin cnsists f a: Master File that cntains general infrmatin regarding the MNE grup; Cuntry File that cntains specific infrmatin regarding the single
More informationEOFY tax strategies for small businesses
As we apprach the end f the financial year (EOFY), there are a number f smart strategies yu culd cnsider t help yu streamline yur finances and legitimately save n yur tax bill. Insurance premiums Sme insurance
More informationClosing Out Award. The PI will work with ORA in obtaining the applicable resolution. Residuals
Clseut All spnsred prject awards must be frmally clsed-ut as sn as pssible after the prject end date t ensure that all expenses psted t this prject are allwable, n additinal charges are psted, all payments
More informationApproval Process and Arrangements for University Consultancy Work
Apprval Prcess and Arrangements fr University Cnsultancy Wrk 1 Intrductin Cnsultancy activities can be separated int tw types: thse undertaken in City s name (University cnsultancy) and thse undertaken
More informationPolicy Coversheet. Link Tutors: appointment and responsibilities
Plicy Cversheet Name f Plicy: Link Tutrs: appintment and respnsibilities Purpse f Plicy: Intended audience(s): Apprval fr this plicy given by: T utline the arrangements fr the appintment f University Link
More informationTable of Contents... i-ii. IMPORTANT Information Plan Sponsor and Participating Employers... 1
This bklet, tgether with the applicable insurance plicies, certificates f cverage r ther cmpnent plan benefit bklets serve as bth the fficial plan dcuments and as the summary plan descriptins fr the benefits
More informationDesignated Fund Contribution Form
1 Designated Fund Cntributin Frm Name(s) Address Street City State Zip Alternate Address: Business Seasnal Street City State Zip Telephne Wrk Hme Cell Email: Alternate email: Hw did yu hear abut the Cmmunity
More informationDATA PROTECTION POLICY FOR PUPILS AND PARENTS
DATA PROTECTION POLICY FOR PUPILS AND PARENTS This Plicy is relevant t the whle schl including EYFS Cntents 1.0 Intrductin 2.0 Respnsibility fr data prtectin 3.0 Types f persnal data prcessed by the schl
More informationChanges to the Sterilization Consent Form and Instructions, Approval Process, and Denial Letter
Changes t the Sterilizatin Cnsent Frm and Instructins, Apprval Prcess, and Denial Letter Infrmatin psted July 15, 2016 Nte: This article applies t transactins submitted t TMHP fr prcessing. Fr transactins
More informationBill 92 extra billing provisions Information for Practitioners
Bill 92 extra billing prvisins Infrmatin fr Practitiners Q1. What is extra billing? Extra billing invlves charging a MSP beneficiary r their representative fr a benefit cvered by MSP, r fr any matter related
More informationFSB Press Release 20 August 2015
Retirement funds must take all reasnable steps t trace and pay millins f their members and beneficiaries wh remain untraced, the Deputy Registrar f Pensin Funds, Rsemary Hunter said n Wednesday. Addressing
More informationPSNC Briefing on the NHS Complaints procedure (from 1 April 2009)
PSNC Briefing n the NHS Cmplaints prcedure (frm 1 April 2009) Under the prvisins f the Natinal Health Service (Pharmaceutical Services) Regulatins 2005 1 pharmacy cntractrs are required t make arrangements
More informationComplying with the IRS 501r Requirements: Will Your Hospital Be Ready When the Tax Collectors Contact Your Organization?
Cmplying with the IRS 501r Requirements: Will Yur Hspital Be Ready When the Tax Cllectrs Cntact Yur Organizatin? Mnday, December 19, 2016 Nn 1:00 Pacific / 1:00 2:00 Muntain / 2:00 3:00 Central / 3:00-4:00
More informationTransition Plan. October 29, Sheri Damon, Prevailing Wage/Risk Coordinator. Presentation to FORA BOARD
Transitin Plan Presentatin t FORA BOARD Octber 29, 2018 Sheri Damn, Prevailing Wage/Risk Crdinatr FORA Histry/Executive Summary 2 Overview Backgrund What s New? Revised Transitin Plan Reslutin Key Issues
More informationPREPARING TO TERMINATE DROP
PREPARING TO TERMINATE DROP If yu wrk until yur riginal Deferred Retirement Optin Prgram (DROP) terminatin date, the Divisin f Retirement will mail yu yur DROP Terminatin Packet apprximately 90 days prir
More informationVILLAGE OF SCHILLER PARK COOK COUNTY, ILLINOIS
VILLAGE OF SCHILLER PARK COOK COUNTY, ILLINOIS Prcedures and Applicatin fr Village f Schiller Park Cnsideratin f Ck Cunty Real Estate 6B Classificatin This applicatin is nly used fr petitin f a standard
More informationTerms of Reference - Board of Directors (approved by the Board on 12 April 2018)
Terms f Reference - Bard f Directrs (apprved by the Bard n 12 April 2018) 1. Respnsibility and Principal Duties The Bard f Directrs has the verall respnsibility fr the gvernance f the Cmpany and fr supervising
More informationProducer Statements will be accepted only in accordance with this policy.
Prducer Statements Plicy This plicy has been prepared t ensure that Cuncil has clearly dcumented plicies and prcedures fr the request fr and acceptance f Prducer Statements in cnnectin with applicatins
More informationJune Dear Chairman Cuttita and Members of the Board of Fire Commissioners:
THOMAS P. DiNAPOLI COMPTROLLER STATE OF NEW YORK OFFICE OF THE STATE COMPTROLLER 110 STATE STREET ALBANY, NEW YORK 12236 GABRIEL F. DEYO DEPUTY COMPTROLLER DIVISION OF LOCAL GOVERNMENT AND SCHOOL ACCOUNTABILITY
More informationTax Reform Series I: Fringe Benefit and Health & Welfare Provisions
January 12, 2018 If yu have questins, please cntact yur regular Grm attrney r ne f the attrneys listed belw: Kathryn Amin kamin@grm.cm (202) 861-2604 Jn Breyfgle jbreyfgle@grm.cm (202) 861-6641 Lisa Campbell
More informationYour Retirement Guide. Employees
Yur Retirement Guide Emplyees Retirement is a big step. Over the next few weeks and mnths yu ll be asked t make many imprtant decisins abut yur New Yrk Life benefits and yur financial security. This easy-t-use
More informationGuidelines and Recommendations Guidelines on periodic information to be submitted to ESMA by Credit Rating Agencies
Guidelines and Recmmendatins Guidelines n peridic infrmatin t be submitted t ESMA by Credit Rating Agencies 23 June 2015 ESMA/2015/609 Table f Cntents 1 Scpe... 3 2 Definitins... 3 3 Purpse f Guidelines...
More informationInternational Complaints Handling: New Procedures in Italy. To advise of new complaints handling arrangements for Italy
market bulletin Ref: Y5041 Title Purpse Type Frm Internatinal Cmplaints Handling: New Prcedures in Italy T advise f new cmplaints handling arrangements fr Italy Event Paul Brady Head f Market Cnduct Date
More informationDetails of Rate, Fee and Other Cost Information
Details f Rate, Fee and Other Cst Infrmatin Accunt terms are nt guaranteed fr any perid f time. All terms, including fees and APRs fr new transactins, may change in accrdance with the Credit Card Agreement
More informationABA Staff Analysis: Rules Regarding Loan Originator Compensation Policies
ABA Staff Analysis: Rules Regarding Lan Originatr Cmpensatin Plicies September 2010 Final Rule Issued: August 16, 2010 On August 2010, the Federal Reserve Bard issued rules impsing restrictins regarding
More informationHEIDRICK & STRUGGLES INTERNATIONAL, INC. Corporate Governance Guidelines
HEIDRICK & STRUGGLES INTERNATIONAL, INC. Crprate Gvernance Guidelines The Heidrick & Struggles Internatinal, Inc. (The Cmpany ) Bard f Directrs (the Bard ) and management believe that the Cmpany, in the
More informationIRDA Update: Draft Guidelines on Web Aggregators
IRDA Update: Draft Guidelines n Web Aggregatrs 17 March 2011 By way f an update, the IRDA has issued draft guidelines n web aggregatrs n 16 th March 2011. Cmments have been invited by 31 st March 2011.
More informationNARACOORTE LUCINDALE COUNCIL COUNCIL POLICY 94 PUBLIC CONSULTATION AND COMMUNITY ENGAGEMENT
RESPONSIBLE OFFICER: RELEVANT DELEGATIONS: Chief Executive Officer Manager Gvernance and Cmmunity Develpment LEGISLATION AND REFERENCES: Lcal Gvernment Act 1999 sectins 12, 50, 92, 122,123, 151, 156, 193,
More informationKEY BENEFIT ADMINISTRATORS. Understanding and Applying the Employer Shared Responsibility Requirements
KEY BENEFIT ADMINISTRATORS Understanding and Applying the Emplyer Shared Respnsibility Requirements Understanding and Applying the Emplyer Shared Respnsibility Requirements Key Benefit Administratrs Nvember
More informationHeritage Pension Plan Freeze. FAQs. Heritage Pension Plan Freeze FAQ 1 of 5
Heritage Pensin Plan Freeze FAQs Heritage Pensin Plan Freeze FAQ 1 f 5 Overview f changes BP has fur grandfathered heritage pensin frmulas that will freeze n the fllwing dates: Amc - December 31, 2012
More informationAppeal Process Overview
Appeal Prcess Overview www.ptbard.bc.ca Scpe f Appeals The Bard may hear appeals frm administrative penalties impsed n a licensee by the Registrar f Passenger Transprtatin Parties t Appeals The appellant
More informationPershing Financial Services Guide (FSG) including its Privacy Policy
Pershing Financial Services Guide (FSG) including its Privacy Plicy Issued by Pershing Securities Australia Pty Ltd ABN 60 136 184 962 Australian Financial Services License N. 338 264 Date FSG was prepared:
More informationCurrent Developments: Canadian Securities and Auditing Matters
Current Develpments: Canadian Securities and Auditing Matters March 2017 kpmg.ca Canadian Securities and Auditing Matters This editin prvides a summary f newly effective and frthcming regulatry and auditing
More informationABA Staff Analysis: OTS proposed supplement to Overdraft Guidance
ABA Staff Analysis: OTS prpsed supplement t Overdraft Guidance April 2010 On April 23, 2010, the OTS released fr cmment a prpsed supplemental guidance n verdraft prtectin 1 t update its Overdraft Guidance
More informationYUM! Brands 401k Plan
YUM! Brands 401k Plan Final Distributin Electin Name: Scial Security #: Address: Daytime Telephne #: Evening Telephne #: Befre yu can prcess a Final Distributin Electin, yur status must be terminated.
More informationAre you ready for the FUTURE of your Quality Management system?
1 Are yu ready fr the FUTURE f yur Quality Management system? BACKGROUND Quality Management System standard, ISO 9001 has made sme majr changes released in September 2015. Organizatins are studying and
More informationCONNECTICUT CARPENTERS HEALTH FUND COBRA CONTINUATION COVERAGE ELECTION NOTICE
CONNECTICUT CARPENTERS HEALTH FUND COBRA CONTINUATION COVERAGE ELECTION NOTICE DATE Dear : This ntice cntains imprtant infrmatin abut yur right t cntinue yur health care cverage in the Cnnecticut Carpenters
More informationREGISTERED TRAINING ORGANISATION RTO (41056) Fees and Refunds
REGISTERED TRAINING ORGANISATION RTO (41056) Fees and Refunds PURPOSE Plicy: Fees and Refunds The purpse f this plicy is t describe the respnsibilities and methds fr managing enrlment fees and refunds
More informationHandling Complaints at Lloyd s: Guidance for managing agents and their representatives
Cmplaints May 2017 Llyd s cmplaints Handling Cmplaints at Llyd s: Guidance fr managing agents and their representatives This guidance nte prvides a practical prcess fr handling UK cmplaints received frm
More informationProcurement Update
Prcurement Update OSC Cmmittee Meeting 30 th Nv 2017 Head f Prcurement - Paul Meigh Central Bedfrdshire Cuncil www.centralbedfrdshire.gv.uk Gvernance why we have prcurement rules Required t be part f ur
More informationTo all Members of the Medical Insurance Plan for Retirees:
The Wrld Bank Grup Human Resurces, MSN G2-202 (202) 473-2222 INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT Washingtn, D.C. 20433 (202) 522-7026 fax INTERNATIONAL DEVELOPMENT ASSOCIATION U.S.A.
More information