June, 2011 | The One-Stop ESOP Blog | Your Resource For All Things ESOP

IRS Form 8955-SSA, Annual Registration Statement Identifying Separated Participants With Deferred Vested Benefits

Posted by Aaron Juckett on Thu, Jun 23, 2011

IRS Announcement 2011-21 - Replacement of Schedule SSA (Form 5500) with Form 8955-SSA designated IRS Form 8955-SSA, Annual Registration Statement Identifying Separated Participants With Deferred Vested Benefits as the form to be used to satisfy the IRC Section 6057(a) Annual registration reporting requirements for plan years beginning on or after January 1, 2009.

Tags: rules and regulations

S.1232 A bill to modify the ERISA definition of fiduciary to exclude appraisers of ESOPs

Posted by Aaron Juckett on Wed, Jun 22, 2011

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The Employee Ownership Blog announced that S.AMDT.467 has now become a separate legislative proposal. S.1232 A bill to modify the definition of fiduciary under the Employee Retirement Income Security Act of 1974 to exclude appraisers of employee stock ownership plans was introduced on June 20, 2011, by Sen. Kelly Ayotte [R-NH], and is currently co-sponsored by Scott Brown [R-MA], Susan Collins [R-ME], Mary Landrieu [D-LA], and Olympia Snowe [R-ME]. It has been referred to the Senate Health, Education, Labor, and Pensions committee:

Because the underlying bill pending on the Senate floor, S. 782 to reauthorize the Public Works and Economic Development Act of 1965, has bogged down and is not likely to be adopted, Senator Kelly Ayotte, and her colleagues Senators Olympia Snowe (R-ME), Susan Collins (R-ME), Scott Brown (R-MA), and Mary Landrieu (D-LA), decided a more effective pathway to stop DOL's proposed anti-ESOP regulation mandating all private ESOP company appraisers be ERISA fiduciaries, was to take S. AMDT 467 word for word and introduce it as a free standing legislative proposal. It is now S. 1232.