IRS: Retirement News for Employers – Spring 2011 Edition

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Retirement Plans for Self-Employed People
Highlights of plans that self-employed people can use to save for retirement on a tax-deferred basis

Voluntary Correction Program Submissions – Common Mistakes
Avoid common mistakes in submissions to fix plan errors

Higher Education Organizations Have to Comply with the Universal Availability Rule
New Employee Plans Compliance Unit project focuses on whether certain 403(b) plans comply with the rule

Are You Covered by an Employer’s Retirement Plan?
Determine whether you are covered by a retirement plan at work, which affects your ability to deduct traditional IRA contributions

SEP Plans in a Partnership
Partners are employees for retirement plan purposes, and cannot have individual SEP plans

What Should I Expect From My Service Provider?
Monika’s Desk Side Chat provides advice on requesting, reading and monitoring service provider reports

New Small Business Retirement Plan Resources Web Page
Web page lists resources on choosing a plan and what to do once your plan is in place

403(b) Plans

New and Updated Forms and Publications:

  • Form 8955-SSA (draft)
  • Pub 571, Tax-Sheltered Annuity Plans (403(b) Plans) For Employees of Public Schools and Certain Tax-Exempt Organizations (rev. December 2010)
  • Pub 575, Pension and Annuity Income
  • Pub 590, Individual Retirement Arrangements (IRAs)

Recurring Columns

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