History of the Office of Benefits Tax Counsel

The Early Years

Panelists:

  • Thomas D. Terry (1990-1992)
  • Evelyn A. Petschek (1992-1993)
  • Randolf H. Hardock (1993-1995)

Interlocuters

  • Harry J. Conaway
  • Nancy J. Marks
  • Carolyn E. Smith
  • Harlan M. Weller
  • James A. Wooten

The Early Years (1 of 4)

  • Formation and organization
  • Transition on account of the first change of administration
  • Initial projects

The Early Years (2 of 4)

Regulations developed regarding

  • Nondiscrimination 401(a)(4)
  • Separate line of business 414(r)
  • Cash and deferred arrangements

The Early Years (3 of 4)

  • Health care reform
  • Pension simplification
  • PBGC reform
  • Executive compensation
  • Payroll tax issues

The Early Years (4 of 4)

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Maturation of the Office

Panelists:

  • J. Mark Iwry (1995-2001)
  • William F. Sweetnam (2001-2005)
  • W. Thomas Reeder (2005-2009)

Interlocuters

  • William K. Bortz
  • Nancy J. Marks
  • Carolyn E. Smith
  • James A. Wooten

Maturation of the Office (1 of 4)

New comparability challenge to the 401(a)(4) regulations;

Maturation of the Office (2 of 4)

  • Simplification of 401(a)(9) regulations
  • Medicare modernization and HSAs
  • Attempts at Social Security privatization

Maturation of the Office (3 of 4)

  • 409A regulations
  • Initiatives to expand coverage
  • Enactment of the Pension Protection Act

Maturation of the Office (4 of 4)

  • Cash balance plans regulation
  • Contrast with regulation of HRAs
  • Split dollar insurance reform

Benefits Tax Counsel Today

Panelists:

  • J. Mark Iwry (1995-2001)
  • George H. Bostick (2009-2015)
  • Robert J. Neis (2015 -2018)

Interlocuters

  • William K. Bortz
  • Nancy J. Marks
  • Carolyn E. Smith
  • Harlan M. Weller
  • James A. Wooten

Benefits Tax Counsel Today (1 of 3)

  • Reform of the 401(k) plan
    • Automatic enrollment
    • Default investments
    • Automatic rollovers
  • Coordination with the Office of the Deputy Assistant Secretary (Tax Policy) for Retirement and Health Policy

Benefits Tax Counsel Today (2 of 3)

  • Initiatives to deal with the Great Recession; e.g., temporary suspension of the payroll tax
  • Implementation of the PPACA

Benefits Tax Counsel Today (3 of 3)

Relationship of Benefits Tax Counsel with Ass, Secretary of the Treasury, Deputy Assistant Secretary and General Counsel