DoL Issues Final Missing Beneficiary Rules

The U.S. Department of Labor (DoL) announced final rules under the Pension Protection Act of 2006 (PPA) relating to distribution of 401(k) benefits for missing nonspouse beneficiaries in terminated plans, selection of annuity providers, and cross trading of securities by plans governed by the Employee Retirement Income Security Act (ERISA).

IRS Extends Delay of 409A Rulings

The Internal Revenue Service (IRS) decided to extend its temporary halt on rulings and determination letters regarding the tax consequences of nonqualified deferred compensation arrangements described in §409A of the Internal Revenue Code.

SEC Bans Shorts of 799 Financial Stocks

In an effort to boost investor confidence in the face of a market crisis, federal securities regulators took the dramatic step Friday of temporarily haulting short-selling in nearly 800 financial stocks.

GAO Calls for Simplified IRA Rules

A Congressional watchdog agency has recommended the Internal Revenue Service (IRS) simplify its individual retirement account (IRA) rules so more people can take advantage of the tax-sheltered savings vehicle.