Compliance June 30, 2014

IRS to Discuss 403(b) Pre-Approved Document Program

June 30, 2014 (PLANSPONSOR.com) – The Internal Revenue Service (IRS) will host a free phone forum about 403(b) retirement plans.
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The one-hour forum, “403(b) Plans Update and Latest Developments,” will be July 28, from 2 p.m. to 3 p.m. Eastern Time.

IRS representatives from the Employee Plans Technical and Guidance area will present an overview of the latest developments in the 403(b) world, primarily focusing on the IRS 403(b) Pre-Approved Plan Program. The forum will include a discussion of program details, as well as some of the issues the IRS is encountering as it begins to implement the program.

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Questions attendees would like addressed during the forum should be emailed to the IRS at ep.phoneforum@irs.gov by no later than July 21.

Registration for the forum is here. After registering, the IRS will email access instructions.

More information about IRS phone forums can be found here.

Compliance June 30, 2014

GASB Offers Webinars on Fair Value Measurement Proposal

June 30, 2014 (PLANSPONSOR.com) – The Governmental Accounting Standards Board (GASB) has opened registration to webinars about its recent exposure draft, “Fair Value Measurement and Application.”
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The first session, “Fair Value Measurement and Application: A CPE Webinar for State and Local Government Financial Statement Preparers and Auditors,” will be held on Tuesday, July 15, from 1 p.m. to 2 p.m. Eastern Time. Participants in the live broadcast (which is free of charge to those who preregister) will be eligible for up to one hour of continuing professional education (CPE) credit.

The second session, “Fair Value Measurement and Application: A Webinar for State and Local Government Financial Statement Users,” will be held on Thursday, July 17, from 1 p.m. to 2 p.m. Eastern Time. It will be an informational webinar targeted to financial statement users and is offered free of charge to those who preregister. CPE credit will not be offered as part of this webinar.

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The webinars will feature GASB Research Manager Dean Mead, GASB Project Manager Randal Finden, and GASB Practice Fellow Deborah Beams discussing the GASB’s recently-issued exposure draft on fair value measurement from the perspectives of state and local government practitioners and financial statement users, respectively.

Both sessions will cover the following topics:

  • Background of the project and expected improvements to financial reporting;
  • The proposed definition of fair value and key concepts behind it;
  • Application of fair value to investments and significant exceptions;
  • Proposed disclosure requirements for fair value measurements; and
  • Questions and answers.

Archived versions of both webinars will be available on the GASB website (www.gasb.org) through October 14. Please note that CPE credit will not be available to those who view only the archived version of the July 15 CPE webinar.

Those interested can preregister for the July 15 webinar here and the July 17 webinar here.

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