Compliance January 4, 2012

Tax Deadline Extended to April 17 in 2012

The Internal Revenue Service opened the 2012 tax filing season by announcing that taxpayers have until April 17 to file their tax returns.
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The reason for the Tuesday, April 17, deadline is that April 15 falls on a Sunday, and Emancipation Day, a holiday observed in the District of Columbia, falls this year on Monday, April 16. According to federal law, District of Columbia holidays impact tax deadlines in the same way federal holidays do.  

The IRS will begin accepting e-file and Free File returns on January 17, 2012. Additional details about e-file and Free File will be announced later this month.  

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The IRS also announced a number of improvements to help make this tax season easy for taxpayers, including new navigation features and information on IRS.gov and a new pilot to allow taxpayers to use interactive video to get help with tax issues.  

Products January 4, 2012

PSCA Enhances Website and Educational Offerings

The Plan Sponsor Council of America (PSCA) debuted a new website and education opportunities for members. 
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The new PSCA educational programs include:

•  PSCA’s Online ERISA Fiduciary Training Program. This program is designed for members of fiduciary committees and other employees who have primary responsibility for the operation of their company’s ERISA plans. Participants can study at their own pace, and all lessons and tests are available exclusively online. Upon successful completion of the program, participants will receive a fiduciary certificate.

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•  The Hueler Income Solutions Platform. PSCA plan sponsor member companies can now provide their retiring employees who are interested in investigating the benefits of a fixed payment system with access to a web-based annuity purchasing option that allows employees to compare income annuities from leading insurance companies. This annuity purchasing portal includes a education component, but does not include access to guidance. 
Accessing the Hueler Income Solutions platform through PSCA affords member firms access without the standard connection fee of $5,000 charged to individual plan sponsors. Annuity quotes through the platform will be competitive due to competition and a low, fully disclosed, transaction fee of 1%.

•  Focus on 403(b). PSCA will take on a larger role in the 403(b) community in 2012 by leveraging the 2012 403(b) Plan Survey and introducing new content online, through educational webinars, and at PSCA conferences throughout the year.

“The Plan Sponsor Council of America (PSCA) is jumpstarting 2012 with new access, new education, and a new look,” said David Wray, PSCA’s President. “We are pleased to have a new website that will meet the needs of our members, including online registration, links to webinars, enhanced research and other features to help plan sponsors get the information they need to better manage their company’s retirement plans.” 

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