Diversions March 27, 2014

Where the Water Is as Clear As Water

When the lamb part of March is still roaring like a lion, many are considering escaping to sunnier climes. 
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Where is the water clearest and bluest? Those who want to dive, snorkel or just plain gaze at their own relaxed reflections can find out in a Weather.com survey.

The idea of packing flip-flops and sunglasses and heading toward an island, beach, lake or bay with turquoise water carries a lot of appeal at the moment. Following are places that earned high marks from travelers, and all feature diamond-smooth, brilliant turquoise waters—and one is even right here in the U.S.

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Among the most crystalline locations are:

Cook Islands. Halfway between New Zealand and Hawaii, these 15 islands are scattered across millions of square miles in the idyllic South Pacific Ocean.

Cocos Island Marine Park. Three hundred miles southwest of Costa Rica (CR) lies this rugged, verdant island, a crown jewel of CR’s many national parks. In 1994, after several return visits to the island, Jacques Cousteau pronounced Cocos “the most beautiful island in the world.”

Knip Beach. One of the most beautiful surroundings on Curaçao, Knip offers a reef reachable by well-trained swimmers and, closer to shore, exotic snorkeling.

Five-Flower Lake. The pride of Jiuzhaigon National Park in China, the shallow lake glistens different shades of turquoise, and its floor is littered with fallen ancient tree trunks. Wuhua Hai is one in the legendary 108 haizi, or multicolored lakes.

Marsa Matrouh. Nestled inside a big circular bay and protected from the high seas, this gorgeous secluded destination sits nestled on Egypt’s Mediterranean shore.

Virgin Gorda. There’s no escaping the blissfully slow pace that pervades every aspect of this British Virgin Island. Snorkeling, hiking and lolling about on white sand beaches make Gorda a spectacular place to visit without tourist crowds: The Island does not accept direct foreign flights.

Cayo Madrizqui. In these shallow waters in Venezuela’s Los Roques National Park, you find a coral reef teeming with colorful fish and a rainbow of sponges and anemones to delight any snorkeler.

Sua Ocean Trench. One of the most idyllic of Samoa’s sites features an incredible beach and what must the Pacific Ocean’s premier swimmin’ hole.

Torch Lake. Located on the northwest corner of Michigan’s Lower Peninsula, this dramatic 18-mile glacial lake mimics the Caribbean. Its blue clay bottom and clear water are known for producing intense color variations, changing from emerald green to fiery gold to a deep turquoise.

Compliance March 26, 2014

IRS Modifies Procedures for Pre-Approved 403(b)s

The Internal Revenue Service (IRS) has modified Revenue Procedure 2013-22, which sets forth procedures for issuing opinion and advisory letters for § 403(b) pre-approved plans.
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The IRS has extended the deadline for applications for opinion and advisory letters regarding the acceptability under § 403(b) of the Internal Revenue Code of the form of prototype plans and volume submitter plans, respectively, through April 30, 2015. Revenue Procedure 2014-28 also makes certain modifications to the program established by Revenue Procedure 2013-22 that are intended to allow more plan sponsors and eligible employers to participate in the § 403(b) pre-approved plan program.

The agency explained that after evaluation and consideration of comments from pre-approved plan provider, it changed the previous requirement that, to qualify as a § 403(b) pre-approved plan provider, an entity or person must expect at least 30 eligible employers to adopt its § 403(b) prototype plan basic plan document(s) or § 403(b) volume submitter specimen plan(s). The required number of eligible employers is reduced to 15.

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In addition, the IRS previously required that to qualify as a mass submitter, a person or entity must submit opinion or advisory letter applications on behalf of at least 30 prototype sponsors, or 30 volume submitters, respectively, each of which is sponsoring, on a word-for-word identical basis, the same basic plan document or specimen plan. This is modified to reduce the required number of prototype sponsors or volume submitters, as applicable, to 15.

Other requirements for volume submitter plans have been modified.

The text of Revenue Procedure 2014-28 is here.

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