Deals & People December 13, 2010

Bukaty Names Morris President

Bukaty Companies today announced that Vincent Morris will serve as president of the company’s Retirement Plan Services division.  
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Morris previously served as the division’s vice president.  Additionally, Jason Hoffman has been named vice president of the division.  Hoffman, a nine-year agency veteran, previously served as a senior retirement plan consultant, according to the announcement.

“Vince and Jason have been integral to the division’s growth and success,” said Mike Bukaty, chief executive officer of the division and president of Bukaty Companies. “For nearly a decade the Retirement Plan Services division has been providing superior fiduciary services to plan sponsors, and I am confident that the division will continue to excel.”

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Currently Bukaty Companies Retirement Plan Services division consists of more than 175 corporate retirement plan clients ranging from start-up companies to more than a thousand employees. 

Compliance December 13, 2010

IRS Publishes Changes in Plan Qualification Requirements

The Internal Revenue Service has issued Notice 2010-90, which provides a cumulative list of changes in plan qualification requirements.
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The notice contains the 2010 Cumulative List of Changes in Plan Qualification Requirements (2010 Cumulative List) described in section 4 of Rev. Proc. 2007-44, 2007-2 C.B. 54. The 2010 Cumulative List is to be used by plan sponsors and practitioners submitting determination, opinion, or advisory letter applications for plans during the period beginning February 1, 2011 and ending January 31, 2012.   

The IRS said these plans will primarily be single employer, individually-designed defined contribution plans, including employee stock ownership plans (ESOPs), and single employer, individually-designed defined benefit plans that are in Cycle A and defined contribution pre-approved plans (that is, defined contribution plans that are master and prototype (M&P) or volume submitter (VS) plans) for the second submission under the remedial amendment cycle under Rev. Proc. 2007-44.   

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Generally, an individually designed plan is in Cycle A if the last digit of the employer identification number of the plan sponsor is 1 or 6.  

Notice 2010-90 is here.

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