Compliance December 22, 2011

IRS Extends Deadline for Opinion and Advisory Letter Applications

The Internal Revenue Service (IRS) has extended the application deadline for opinion and advisory letters for pre-approved defined contribution plan documents. 
Reported by

Announcement 2012-3 extends to April 2, 2012, the deadline to submit on-cycle applications for opinion and advisory letters for pre-approved defined contribution plans for the plans’ second six-year remedial amendment cycle. Under Rev. Proc. 2007-44, 2007-2 C.B. 54, and Rev. Proc. 2011-49, 2011-44 I.R.B. 608, the submission period for these applications was scheduled to expire on January 31, 2012.   

The extension provided by the announcement applies to the deadline for submitting on-cycle applications for opinion and advisory letters for mass submitter lead plans, word-for-word identical plans, master and prototype plan minor modifier placeholder applications and non-mass submitter defined contribution plans.  

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Announcement 2012-3 is available here.  

Deals & People December 22, 2011

MassMutual Makes Leadership Appointments

MassMutual promoted three executives to senior vice president.  
Reported by

Michael R. McKenzie, Retirement Services Operations, is responsible for all recordkeeping processes and delivery of services for MassMutual’s Retirement Services division. He has oversight of the division’s new business implementation, ongoing account management, plan change processing, ERISA consulting services and its Participant Information Center (PIC). McKenzie joined MassMutual in 2007.

Scott Reed, U.S. Insurance Group Business and Technology Solutions, is responsible for the business and technology solutions team in the company’s U.S. Insurance Group, which provides and operates all technology and systems for MassMutual’s suite of protection and accumulation products. Reed joined MassMutual in 2000.

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Heather Smiley is head of Strategic Marketing for MassMutual’s Retirement Services division, which includes plan sponsor communication consulting services, advertising and public relations, web portals and tools, market research, competitive intelligence and employee communications. Smiley joined MassMutual in 2009.   

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