text: Strict Standards: Redefining already defined constructor for class XML_Parser in /home/sites/www.americanpoems.com/web/store/aom/includes/os.php on line 1188 Strict Standards: Declaration of XML_Parser::raiseError() should be compatible with PEAR::raiseError($message = NULL, $code = NULL, $mode = NULL, $options = NULL, $userinfo = NULL, $error_class = NULL, $skipmsg = false) in /home/sites/www.americanpoems.com/web/store/aom/includes/os.php on line 1604 Strict Standards: Declaration of XML_Unserializer::startHandler() should be compatible with XML_Parser::startHandler($xp, $elem, &$attribs) in /home/sites/www.americanpoems.com/web/store/aom/includes/os.php on line 3503 Strict Standards: Declaration of Cache_Lite_File::get() should be compatible with Cache_Lite::get($id, $group = 'default', $doNotTestCacheValidity = false) in /home/sites/www.americanpoems.com/web/store/aom/includes/cache.php on line 1020 American Poems: Electronics: Olympus Stylus TG-2 iHS Digital Camera with 4x Optical Zoom and 3-Inch LCD (Black) Home Apparel Appliances Books DVD Electronics Home & Garden Kindle eBooks Magazines Music Outdoor Living Software Tools & Hardware PC & Video Games Search All Products Apparel Appliances Arts & Crafts Automotive Baby Beauty Books Computers DVD Electronics Gourmet Food Grocery Health Home & Garden Industrial & Science Jewelry Kindle eBooks Kitchen Magazines Miscellaneous Mobile Apps MP3 Downloads Music Musical Instruments Office Products Outdoor Living Pet Supplies Photo & Camera Shoes Software Sporting Goods Tools & Hardware Toys VHS Video On Demand PC & Video Games Watches Wireless Wireless Accessories Advanced Search Sitemap View Cart Checkout Location: Home » Electronics » Olympus Stylus TG-2 iHS Digital Camera with 4x Optical Zoom and 3-Inch LCD (Black) Olympus Stylus TG-2 iHS Digital Camera with 4x Optical Zoom and 3-Inch LCD (Black) enlarge Other Views: Brand:Olympus Category:Photography Buy New: $382.00 as of 9/3/2014 03:37 EDT details In Stock New (10) Used (8) Refurbished (5) from $239.00 Seller:EPICDEALS Sales Rank:710 Color:Black Media:Electronics Autographed:No Memorabilia:No Size:none Shipping Weight (lbs):0.5 Dimensions (in):4.4 x 1.1 x 2.6 Legal Disclaimer:As is Release Date:February 28, 2013 MPN:V104120BU000 Model:V104120BU000 UPC:050332185111 EAN:0050332185111 ASIN:B00AQ2BWP4 Availability:Usually ships in 1-2 business days Features: High-Speed, Ultra-Bright f2.0 Lens Waterproof 15m/50ft; Shockproof 2.1m/6.9ft; Crushproof 100kgf/220lbf; Freezeproof -10C/14F; Dustproof, Water-repellant Lens GPS and e.Compass, Manometer, Automatic Underwater Balance, Magic Art Filters Similar Items: Olympus CSCH-107 BLK Hard Case for TG-1 and TG-2 Camera (Black with Red Trim) Olympus Foam Float Strap, 202212, Red BM Premium Pack of 2 LI-90B, LI-92B Batteries & Charger for Olympus Tough SP-100 IHS, TG-1 iHS, TG-2... SanDisk Extreme 32 GB SDHC Class 10 UHS-1 Flash Memory Card 45MB/s (SDSDX-032G-X46) Olympus Fisheye Tough Lens Pack (lens and adapter) for TG-1, TG-2, and TG-3 Cameras (Black with Red ... Editorial Reviews: SynopsisThe most sophisticated rugged point-and-shoot on the market, the Olympus TG-2 iHS was designed with the serious photographer in mind. In addition to its Shockproof (7.1ft/2m), Crushproof (220lbf/100kgf), Freezeproof (14 DegreeF/-10 DegreeC), Dustproof design, the TG-2 iHS dives deeper than ever before with an astounding waterproof depth rating of 50 feet (15m) without a housing. But don't be fooled, this camera's not only for the avid scuba diver, it's for active photographers who won't sacrifice image quality and performance. The TG-2 iHS is the only rugged camera on the market equipped with an ultra-bright, high-speed f2.0 lens, allowing you to capture dramatic low light and high-speed action shots. Paired with a 12 megapixel BSI CMOS sensor and TruePic VI Image Processor that fuel Olympus' cutting-edge iHS Technology, you'll get amazing pro image quality and 1080p Full HD Videos in places that your DSLR camera just can't risk travelling. And with advanced functions like Aperture Priority mode, you'll have even more control to capture the exact images that you want! Added features like next generation GPS and e.Compass, a 3.0" OLED monitor, Linear PCM Stereo audio recording, High-Speed Sequential Shooting up to 60 frames per second, four underwater scene modes and two custom modes make this adventure cam stand out in the crowd! Looking for more? The TG-2 iHS is the only rugged camera to feature system expandability to put even more photographic control in your hands; use the telephoto converter lens to achieve even greater optical zoom range and artistic blur or the wide-angle fisheye lens for more expansive views, especially underwater. The completely waterproof system allows you to take your photography to places that your pro system can only dream of going. CERTAIN CONTENT THAT APPEARS ON THIS SITE COMES FROM AMAZON SERVICES LLC. THIS CONTENT IS PROVIDED 'AS IS' AND IS SUBJECT TO CHANGE OR REMOVAL AT ANY TIME. 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Leaky News Archives for November 2005
Happy Birthday, Bill Weasley!
J.K. Rowling's website has been updated to commemorate the birthday of our favorite banker. Happy Birthday, Bill (and we hope your recovery is going well)!
Thanks to all who reminded us.
Cauldron Shop Update: New Denim Jacket, Potter Trackjacket, And More
We've got a LOT of news out of the Cauldron Shop today: first of all, WB has introduced Hogwarts Denim Jackets in Kids, Juniors, and Adult versions. Hot Topic is now on the Cauldron Shop, including ALL its recently-released Goblet merchandise. Here's a more succinctContinued...
Goblet Premiere Pics from NY, London, Japan
We've got a bunch of nice resolution pictures for you from all the recent Goblet premieres and events, including:
- London pics starting on this page
- Another pic of Emma
- New York premiere
- Emma Watson, Katie Leung, Robert Pattinson and Mike Newell at the Japan premiere and more in this album, includingContinued...
New Pics of the Phelps Twins in Japan
The Phelps twins and their sponsors have sent over some new pics of their time in Japan, this time from their visit to the Warner MyCal Theater and the Two Piece store in Fukushima. For more info on their tour, visit this page (with a translator):
In Two Piece, in kimono jackets
At Two Piece (2)
At Two PieceContinued...
Finnish Cover of Half-Blood Prince
The cover to the Finnish edition of Harry Potter and the Half-Blood Prince has now been released. Ilkka from Harry Potter-fanit sent us this photo of the book cover, here. "Harry Potter ja puoliverinen prinssi", with cover art by illustrator Mika Launis, will be released on March 16th, 2006.Continued...
GoF World Box Office Totals: More than $400 Million
Harry Potter and the Goblet of Fire is continuing to light up sales at the box office, earning an "estimated $408 million at the worldwide box office after its second weekend" reports Reuters. In North America, Goblet sold an estimated $59.4 million dollars worth of tickets over thisContinued...
PotterCast #14: Goblet Premiere, After-Party, and the Film in Detail
A little late but here nonetheless, our latest PotterCast is now available for download. In this episode we discuss the Goblet of Fire premiere and after-party, and chat Harry Potter and the Goblet of Fire with a more detailed and critical eye than in the past, now that we'veContinued...
New GoF Photos
Thanks to Universe of Harry Potter, who sent us links to some new photos from Goblet of Fire.
NY Premiere Red Carpet Video
Our half of the video from the red carpet at the New York Goblet of Fire video is now available at our Videos Page. In this segment, see interviews with Jamie Waylett, Katie Leung, Tiana Benjamin and Mike Newell.
For the other half, which includes Tolga Safer, David Heyman, Miranda Richardson, Dan Radcliffe, and someContinued...
"Candle For Care" Fundraiser
DanRadcliffe.com and DanRadcliffe.co.uk both let us know that they are again running their "Candle for Care" charity fundraiser. Actor Daniel Radcliffe (Harry Potter) has sent out a message to fans asking, in lieu sending presents this holiday season, that fans consider making a donation to Demelza House,Continued...
New Pic of Ron and Padma
UniversHarryPotter sent in this new pic of Ron and Padma from the French magazine "Gold." Thank you!
Pics of James and Oliver Phelps in Japan
We've uploaded some pics from James and Oliver Phelps's autograph signing in Japan; these include pics from Planet Hollywood in Tokyo on Nov. 26 and Hollywood Collector's Gallery in Ueno on Nov. 27. Enjoy!
More New Photos of Trio Online
There are some new of photos of the trio of actors Daniel Radcliffe, Rupert Grint, and Emma Watson that have now surfaced online. HPANA posted these additional photos of the trio that were taken for the recent issue of Entertainment Weekly. Also, reader Di sent in some scans of the new January edition of a JapaneseContinued...
JKR Donates Signed Copy of HBP
Scotland's Daily Record reports that J.K. Rowling responded to 12-year-old Breeze Gardner's request by donating an autographed copy of Harry Potter and the Half-Blood Prince to a charity auction.
" . . . [T]he book is expected to fetch more than £ 6000 when it is auctioned off next month.
December Boys Filming Begins in South Australia
Filming for December Boys has begun in South Australia, and the Sydney Morning Herald has a short piece on Daniel Radcliffe's "life as a full-time muggle" actor. The story also features a great new photo of Dan on the set of the film.
On the National Nine News website, Dan talksContinued...

subset: commoncrawl


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Town Square
please look right before turning right
Original post made by pedestrian on Oct 11, 2013
The problem is that most drivers turning right for some reason have their eyes glued to their left and never look for other road users on their right. You need to look right whether or not you have a green light. Also look right at stop signs and when pulling out of driveways. Always look right before turning right. This only takes an extra second or two out of your busy day. Please please please. Thank you.
Comments (4)
on Oct 11, 2013 at 12:09 pm
Good point.
Pedestrians coming from where a driver is not looking also can try be sure they have made eye contact before walking in front of a car. Never blindly walk in front of any vehicle that can kill you without noting it has seen you or not.
I learned this lesson early on in my driving career when exiting a parking lot was looking so hard to the left that I did not see that the car in front of me that I thought had exited the parking lot was sitting them stopped in from of me for no reason. Never assume. Fortunately I just softly bumped the car as I slowly rolled out - no damage, except to my ego.
on Oct 11, 2013 at 12:35 pm
Demanding that pedestrians make eye contact with you is really lame. What if the pedestrian is already half way across the street before you start pulling out? If she waits in the middle of the street hoping that you look her way, then she is a sitting duck for cars coming from other directions. Older pedestrians or parents with small children may not be able to run to get out of your way. Some pedestrians will pound on the hood of cars that are about to hit them, but this can spook the driver into hitting the accelerator instead of the brake.
The only solution is for car drivers to pay attention. Come to a full stop before starting your turn. LOOK RIGHT BEFORE TURNING RIGHT. Memorize that. It is not that hard. Thank you.
on Oct 11, 2013 at 1:34 pm
This is a no-brainer, but look BOTH ways, right, left, and right again before turning right. As a bicyclist, I was once hot by a driver looking left while turning right. he had to pay my medical bills and then some,
on Oct 11, 2013 at 1:55 pm
DUH, sorry to hear about your accident. Were you riding on the wrong side of the street when hit? Or were you riding up on the inside of a car waiting to turn right? Otherwise, I am not sure how you were hit by someone turning right. Please can you explain more how this happened. Thanks.
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It seems that you're using an outdated browser. Some things may not work as they should (or don't work at all).
We suggest you upgrade newer and better browser like: Chrome, Firefox, Internet Explorer or Opera
There are two worlds.
One we know as our world, a world of science and logic and stark reality. The other world lies behind the veil of sleep; an Arcadian realm of magic and chaos, a realm where dreams may come true. Imagine being able to travel between these two worlds, between Stark and Arcadia. Imagine being able to Shift between realities as easily as stepping through a doorway. In The Longest Journey, you can. And in order to save the precious Balance between worlds, between order and chaos, between science and magic, you must.
The Longest Journey is an adventure through the twin worlds of Stark and Arcadia, seen through the eyes of April, an 18-year old art student. The game you cannot miss!
Age requirements: ESRB Rating: MATURE with Strong Language. PEGI Rating: 16+ with Bad Language.
Minimum system requirements: Windows XP or Windows Vista, 1 GHz Processor (1.4 GHz recommended), 256MB RAM (512 recommended), 3D graphics card compatible with DirectX 7 (compatible with DirectX 9 recommended), Mouse, Keyboard
Compatibility notice: The game may require installing an earlier (below 190.xx) driver version on NVidia graphics cards.
Posted on 2009-09-17 06:39:15 byLeftHandedMatt:
Easily one of the best adventure games ever made, and is up there with LucasArts/Sierra's output. It's VERY long (hence the title) so you get your money's worth. The plot is epic and can get a little confusing at times, but the storytelling is wonderful and keeps a focus on character. Conversations can be a little long-winded in the beginning, but for adventure fans that shouldn'tread more be off-putting.
Quite an adult game too, the dialogue is mature and intelligent, there's quite a bit of swearing and some nudity throughout. The puzzles range from clever to illogical to obvious and it's likely you will get stuck a few times.
Overall, a beautiful game. It has a sequel (Dreamfall) and will hopefully be continued eventually with the episodic Dreamfall Chapters.
Was this helpful?(315 of 336 people found this helpful)
Posted on 2009-09-17 19:37:12 byclart:
This game probably has the best story of any game EVER! Beyond that it is also a very good point-and-click adventure game.
I have the steam version and the game looks great if you force Edge-Detect Anti-Aliasing in the Catalyst Control Center, unfortunatly the mouse pointer gets buggy and ruins it, hopefully in this version this is fixed, even if it's not Nvidia user might haveread more better luck.
I think the background images are pre-rendered so a lot of them look pretty great for a 8-9 year old game(even without AA), even if you can't use AA and have to play with a blocky April(like me) the game is well worth it definetly one of the BEST $10 I EVER SPENT!!!
Was this helpful?(101 of 128 people found this helpful)
Posted on 2009-09-17 06:42:13 byArrestedeveloper:
Probably the best adventure game made after the golden era of adventure games.
Was this helpful?(121 of 186 people found this helpful)
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© 2000-2009 Funcom.


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"I think you would be better served by returning the dead material and seeing if you can get replacements. I'm sure you know that azaleas like it acidic and well-drained. Also, be sure you are not planting too deeply or the material itself…"
American Grove
61 members31 Comments 2 Likes
Thanks. I used to be a B&B grower but stopped field planting about 10 years ago when I got my landscape contractor's license. Now I buy in most of my plant material but grow a few perennials and unusual woodies.
© 2014 Created by Administrator.


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According to a report from Cincinnati Inquirer beat writer Joe Reedy, Bengals WR Chris Henry was involved in a car accident in Charlotte today. From Reedy:
Chris Henry involved in an accident in Charlotte. Injuries are believed to be very serious
Details are still emerging, and as with many reports of this nature, it's tempting to panic or jump to conclusions, so we'll reserve any speculation. You can read more on Henry at SB Nation's Cincy Jungle, and one thing's for certain: if true, and his injuries are indeed "very serious" it would be another massive setback for a player that has seen his fair share over the years.
After extensive off-field drama throughout the early part of his career, it seemed that Henry had finally found his comfort zone in Cincinnat. Here's to hoping that he's okay.


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By Will Broaddus
Staff writer
---- — WENHAM — Paul Harding, who won the Pulitzer Prize for his first novel, remembers the exact day he started to write his second.
The Topsfield resident recorded the date, March 17, 2009, in a notebook after telling literary agent Ellen Levine that he would give her 50 pages of new work in six months.
"I used that as a motivational tool," said Harding, whose new novel, "Enon," was published last week.
Harding had finished "Tinkers," his first book, five years earlier and didn't have a new manuscript for his agent until he was struck with "this instantaneous image."
"It came to me as this weird silhouette," he said. "A black paper cutout of an exaggerated hillside studded with headstones, and on top, a figure creeping across the hill."
That figure turned out to be Charlie Crosby, grandson of George Crosby, the clock repairman whose deathbed reflections formed the core of "Tinkers."
"I knew it was Charlie Crosby," Harding said. "It was late at night, he had been up to no good, and his daughter was buried at the bottom. He was sneaking behind her because he was ashamed of who he had become since she had died."
While this image was shaped by his imagination, many of its details were provided by sites in Wenham where Harding, 45, grew up.
The graveyard where Charlie spends a great deal of time in the novel is flanked by two golf courses, exactly like the Wenham Cemetery on Route 1A.
It is also near a lake that Charlie visits, just as Wenham's cemetery is down the road from Wenham Lake.
The stretch of Route 1A that winds around the lake, which is the scene of a fatal accident in the book, is another spot that Harding knows well.
"Years ago, my father was in a weird car accident and rolled over the guardrail and down into the lake," Harding said. "I worked at that McDonald's in North Beverly when I was 15. I remember riding my 10-speed bike along that guardrail in my McDonald's uniform thinking, 'What if I ever got hit by a car?'"
Harding, who graduated from Hamilton-Wenham Regional High School in 1986, also said there are particular people he knew in Wenham who appear as characters in the book.
One of these, a lady who lived in an estate off Cherry Street where he and his friends used to sled and fish, scolded him in real life exactly the way she does in the book.
But however much literal and historical detail travels from Wenham into Enon — which was the early settlers' original name for the town — it is how Harding uses this material that makes his novel sing.
He acknowledges that his style and methods are inspired by New England writers from the Transcendentalist movement in the 19th century, such as Emerson, Thoreau and Emily Dickinson.
"I'm in the same place and do the same things, taking landscapes and refracting them through character," he said. "It's just the idea that conscious experience, paying attention to it and taking the time to render its nuances, is its own justification."
As in "Tinkers," where one character's mind is decaying and another character suffers from epilepsy, Charlie Crosby's experience in "Enon" is that of a man operating at the edge of reason.
"The protagonist has this ordinary life and has ordinary love for his daughter, and can describe it in terms everyone would recognize," Harding said. "When this terrible thing happens, it puts terrible pressure on him. Suddenly, normal language and ideas are no longer adequate to his experience of the world."
Charlie's reflections on the boundary between life and death lead to fantastic speculations, but these are balanced by confrontations with his conscience.
"I'm interested in disciplining myself to write the things that seem most difficult about human experience," Harding said. "Why bother trying to make art if you're not trying to make it out of the most difficult material?"
Harding has started on a book tour for "Enon" that will take him across the country to 29 stores, and should be finished by Thanksgiving, he said.
He has no idea what his next novel will be about, but relishes not knowing exactly where he's going or why.
"The term I've always thought of is interrogative fiction," he said. "You're writing in order to find out what the subjects are, rather than you know and you're telling people."


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While you were watching the clock at work I was putting these links to help you through the holiday weekend.
Jumping Ahead
Predicted 2012 closers - NL (Part 1)
A preliminary list of who will close next season, NL version. Could it really be anyone else other than The Shark.
Manzella elected to Legends Hall of Fame
Tommy Manzella, a South Atlantic League All-Star with the Lexington Legends in 2006 who made his major league debut with the Houston Astros in 2009, has been elected to the Legends Hall of Fame.
Looking Back
40th anniversary: the lineup that changed baseball
Forty years ago today, the 1971 Pittsburgh Pirates made history on the way to their world championship.
Appy Astros: Appy Astros G-Stros End of August Report
Closing remarks and a look at several players who played for the Greeneville Astros this year.
Dustin Pedroia vs. Little League - Beyond the Box Score
Ever wonder how Dustin Pedroia stacks up against the best of the best? Meaning, the best Little League players in the country?
Tejada not happy laying down bunt against Astros - Sacramento Living - Sacramento Food and Wine, Home, Health | Sacramento Bee
This tickled me, mostly from Tejada's days with the Astros and the fact that he was very good at hitting into double plays.
Why Are Lefties Crafty? | FanGraphs Baseball
Looking for those crafty righties.
What Hitting Metrics Correlate Year-to-Year? - Beyond the Box Score
Bill Petti | Ever wanted a handy table for the year-to-year correlations of batting statistics? Well look no further.
20/20 Players Are Alive And Well - Beyond the Box Score
Over the past 50 years, the player that can hit home runs and steal bases has been increasingly more common. Things are no different this year, and it's time to investigate exactly what's up.
The UN-Luckiest Pitches in the Majors This Year - Beyond the Box Score
Broken down by pitch.


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New Orleans, La. - Eric Gordon scored 24 points Monday night, making several clutch shots in the fourth quarter, and the Hornets snapped a six-game losing streak against the San Antonio Spurs, winning 95-88.
Gordon has led New Orleans to three wins in his four games this season.
The Hornets won back-to-back games for just the second time this season. Anthony Davis had 17 points and nine rebounds, while Ryan Anderson chipped in with 13 points off the bench. Greivis Vasquez also posted 11 assists and 14 points.
New Orleans (9-25) will host the Houston Rockets on Wednesday night.
Fox 8 WVUE-TV
Louisiana Media Company, LLC.
1025 S. Jefferson Davis Parkway
New Orleans, LA 70125
General Number: (504) 486-6161
News Tips: (504) 483-1503
News Room Fax: (504) 483-1543


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Begin Your Search
WineAccess Travel Log
Read stories from the world's greatest wine trails.
More About This Wine
Related Products
Additional Vintages
Other Wines from this Producer and Vintage
2012 Domaine Leflaive Bienvenues-Batard-Montrachet
Producer: Domaine Leflaive
Style: White Wine
Grape Type: Chardonnay
Origin: France
Region: Burgundy
Appellation: Cote de Beaune
92-95 Points | International Wine Cellar , September/October 2013
Pale, bright yellow. Tight, reserved nose hints at hazelnut and nutty oak; the fruit is shy today following the recent end of the malolactic fermentation. Dense and tactile, with intense peach and lemon flavors supported by strong minerality. This rich wine boasts lovely balance from the outset but its back-end density and chewiness suggest that it will reward medium-term aging. My sample left behind a whiff of white truffle in the empty glass.


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ANDERSON, Ind. — A compilation of local briefs, as published in the Friday edition of The Herald Bulletin.
Produce giveaway set for Tuesday
ANDERSON — Fresh produce will be given away at the Madison County Community Health Center, 1547 Ohio Ave., on Tuesday, March 26, beginning at 11 a.m. (while quantities last) The distribution is a collaboration between Second Harvest Food bank and the Health Center.
For more information, call Kim Rayford, at 642-2601 ext 124.
Museum grand opening Saturday
ALEXANDRIA — The Alexandria Monroe Township Historical Society is having a grand opening for this year at 10 a.m. Saturday, March 23. Refreshments will be served.
Members have been busy since the holidays cleaning, re-working displays, adding new artifacts and pictures. The museum is open Thursdays, 1 to 5 p.m.; Saturdays, 10 a.m. to 1 p.m.; and by appointment.
For more information, call Larry Maple, president, at firstname.lastname@example.com, 724-3508 or 617-1725.
'Walk A Mile In My Paws' is fundraiser
MUNCIE — Animal lovers will be walking through Ball State's campus with their pets Saturday, March 23, as part of "Walk A Mile in My Paws." The event is to raise money and items for Muncie's Animal Rescue Fund. Registration begins at 9 a.m. with the walk beginning at 10 a.m. at the corner of University and McKinley.
For more information, call ARF at 282-ARFF (2733). Parking will be available at the Student Center.


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Retirement Plans Determination Letter Program
Note - Any federal tax advice contained in this transcript is intended to apply to the specific situation described and should not be considered official guidance independent of the presentation. The tax advice and statements contained herein should not be relied upon for retirement planning purposes without first consulting a tax or retirement planning professional. This transcript has been edited for technical accuracy and may differ slightly from the audio recording of the Retirement Plans Determination Letter Program phone forum. This information is current as of March 31, 2010. Since changes may have occurred, no guarantees are made concerning the technical accuracy after that date.
Welcome to the Retirement Plans Determination Letter Program phone forum. At this time, all participants are in a listen-only mode. Later we will conduct a question and answer session. Instructions will be given at that time. As a reminder, today's conference is being recorded. I would now like to turn the conference over to your host, Mr. John Schmidt. Please go ahead, sir.
J. Schmidt
Thanks, Peter. Hello, everyone. I'm John Schmidt, the staff assistant, Customer Education & Outreach for Employee Plans at the IRS. Thank you all for dialing into our phone forum on Retirement Plans Determination Letter Program. Please be advised that the following program, including questions and answers, will be recorded and maintained in accordance with federal record keeping laws. This recording is a work of the U.S. government and is in the public domain. A transcript and/or audio recording of this program may be made publicly available on our Web site www.irs.gov.
Today we'll be hearing from Andrew Zuckerman, Director Employee Plans, Rulings & Agreements. He is responsible for all qualified retirement plans, rulings, and guidance in both field and headquarters environments. We'll also hear from Vickie Surguy, Manager Employee Plans Determinations. She is responsible for the national EP determinations program. At the end of their presentation, there will be a question and answer session. We will e-mail a certificate of completion to everyone who registered for this session and who attends the full session. Enrolled agents are entitled to continuing professional education credit for this session. For tax professions other than enrolled agents, consult your licensing organization to see if it will provide continuing professional education credits for this session.
Information on Retirement Plans Determination Letter Program can be found on our Web site at www.irs.gov/ep. You can also get there by going to the main IRS Web page and clicking on the retirement plans community tab at the top. Once there, click on more topics, and select determination, opinion, and advisory letters for retirement plans. You might also want to subscribe to one of our free, electronic newsletters. The link for newsletters is also in the left-hand navigation bar. We have two newsletters: The Retire News for Employers, which is directed at employers sponsoring a retirement plan, and The Employee Plans News, which is directed at professionals who practice in the retirement area. Check out our Web page and subscribe to our newsletters.
Without further eloquence, here is Andy Zuckerman.
A. Zuckerman
Good afternoon, for those on the East Coast, and good morning for those on the West Coast. Thank you. Welcome, everybody. Thank you for participating. This is another media that we use for getting our message out to employers and practitioners that are concerned with retirement plans, and we found it to be rather effective in the past, and hope to continue using it going forward.
Today's topic, as you know, deals with the IRS determination letter program, and we hope to be getting you some information that will be useful to you as time goes on. Topics to be discussed, we want to quickly go over the overview of the determination letter program, what the current status and the future status is. We'll talk a little bit about the pre-approved specimen plan, rulings program, and where that stands. We're going to talk a little bit about the determination letters for pre-approved plan adopters and what's happening with that program. We'll get into individually designed plan applications, talk some about 403(b) rulings, a program that we intend to be opening in hopefully near future.
Why don't we just kind of get into it? Our current determination letter program, our goals for this year, one of our major goals is to issue our opinion and advisory letters for the defined benefit pre-approved plans by the third quarter. The third quarter actually starts tomorrow, so we should be getting these letters out today or the next few days. We have finished the processing of all plans that we had in-house as of last Friday. And so those of you who have submitted those requests for the lead plans should be getting – should have received their preliminary e-mail and should be receiving their opinion letters in the next couple of weeks, and if you haven't gotten that preliminary e-mail, let us know, and also if you don't get the opinion letter, let us know, so we can make sure it's gotten to the right parties.
We're currently taking a look at our staggered approach, which we know now is in its fifth cycle, Cycle E. We want to check out the filing patterns, make effective changes to the program to make it better for you, the employers and the practitioners, as well as making improvements to our processing to make the program just easier and more effective for everyone. All ideas are very much welcomed. Currently we have an official advisory committee that is doing a study on – this year's study will be on the staggered, remedial, amendment period, filing approach, and we're expecting some very interesting comments and suggestions from that group, so please, if you have any, we'd like to see yours as well. It's important to us to give you the best service we can while maintaining the integrity of the determination letter filing process.
One of the big issues we hear about are interim amendments, and we believe that will be covered in the ACT report as well. And we're trying to take a look at whether or not we should change our processes regarding interim amendments. There have been a number of suggestions made from no interim amendments to no interim amendments with notice to employees, so they know what their rights are under the plan, to certain core amendments being made with notice to employees, all the way to lead the status quo, so if anyone has any other suggestions, we'd love to hear them.
Going forward, we're going to be implementing 403(b) arrangements. We're going to have two separate programs. The first will be opening. Our goal is to open the pre-approved plan program by tomorrow. And it doesn't look like we're going to meet that goal. However, we have made significant progress. We have a draft revenue procedure, which will allow us to open the program that is being circulated for comment, and hopefully we'll be able to get this revenue procedure out in the next coming months, so we can get this program up and running.
In the meantime, we have started work on a draft revenue procedure for an individually designed 403(b) program. We believe that first we should – as with the regular determination programs for … plans, the vast majority of cases that we see and plans that are adopted are through the pre-approved program. We felt that it would be better if we started out first with a pre-approved program for 403(b) and then moved to the individually designed plan program, and we're not that far off from getting these things up and running.
As I said before, if you're looking at the slides, we're about to issue the opinion letters and the advisory letters on the pre-approved defined benefit plans, and we're going to be opening the window for the 5307's to come in under those plans. In the meantime, we're going to begin work on getting ready to open the pre-approved define contribution plan submission window, and it looks like we're on track to be opening that window on February 1, 2011. Those are our short-term goals and our long-term goals. At this point, I'd like to turn this over to Vickie Surguy to talk a little bit more about the determination letter program.
V. Surguy
Thank you, Andy. I want to thank you all for your interest in participating in this. I was overwhelmed by the number of individuals who are listening, so thank you. We like to be able to get the word out and this is a great forum, I think, to be able to speak and to let you know ways to submit your applications and give you suggestions on how to get your applications through our process a little more quickly than you may not be aware of. That's one of the things at the end, the presentation has an order … file, and also some dos and some don'ts that we're going to cover. I think those are very interesting.
But I'm going to start with talking about the pre-approved program and then go into the individually designed program. The pre-approved program, we just this week announcement 2010-20 was released that said the service will soon issue the opinion and advisory letters for the pre-approved defined benefit plans. Andy just mentioned that we were doing that. We are in the process of getting those out. The preliminary e-mails should have been sent. And now we're trying to crank out those final opinion and advisory letters.
Then a plan that receives a favorable letter with respect to … statement for the EGTRRA and the 2006 cumulative list is referred to as an EGTRRA approved plan. And, as I said, those letters are expected to go out near today. Employers using these pre-approved documents to restate their plan for EGTRRA in the 2006 cumulative list will be required to adopt the EGTRRA pre-approved plan by April 30, 2012, so they're going to have two years then to adopt those EGTRRA defined benefit plans, and the service looks up applications for individually determination letters submitted by adopters of these pre-approved plans starting May 1, 2010, so that announcement was just released this week on Monday if you want to look at that.
If you look at slide six, we have a chart here that shows you basically how the pre-approved program works. The column under DC shows that we are nearing the end then of our first DC cycle. April 30th is the date that the adopters of the pre-approved plan have their last day to come in if they want a favorable determination letter. We're closely approaching that April 30th date.
Now here in the service, we're calling that our surge. We're expecting around 100,000 applications, and to tell you the truth, we haven't received nearly that many yet, so we are hoping that those of you that have adopted pre-approved defined contribution plans will be getting those into us shortly so that we don't have trucks pulling up and backing up to the door of the service center where they're mailed to and just dumping them all in on the last day. So we encourage you, as much as possible, to submit early. I know we're getting ready to go into April now, so we're getting a little anxious here waiting for those plans to get into the door here.
In the meantime, while the DC program has been doing on, and we're nearing, as I said, the end of our first cycle, we've had the DB program going forth. And, as we said, we're nearing then the completion of the first cycle in a DB of just issuing the letters that are the opinion or the advisory letters, and I mentioned that announcement then gives the two-year window then for those adopters. That's the basic information there that is shown on that slide on page six.
On seven, just some more specifics about the DC pre-approved plan adopters, announcement 2008-23 announced the opening of the program. It was opened May 1, 2008. The remedial amendment period to adopt the approved DC plans and, as I mentioned, April 30, 2010, applications intending to come in within the RAP, or the remedial amendment period, must be on the correct form. Generally that is Form 5307, which is a short form. However, a few may have to come in on 5300.
Form 5307 is for individuals who are verbatim or minor change adopters of volume submitter plans. Those, if you've made the minor modifications to your volume submitter, you can use a 5307. If you've made major modifications to the volume submitter, you may be required to file a 5300 instead of the 5307.
Prototype adopters can make no changes. Now that's a different rule than the volume submitters. There's supposed to be no changes to a prototype plan. If you make changes to a prototype plan, that throws you out of the prototype program, and it throws you onto the individually designed 5300 filer.
I'm going on to slide nine. With the volume submitter program, and some of this might be fairly elementary to most of you, but there is a greater leeway in those plans. As I mentioned, you can make some minor changes and still stay under the 5307.
The question comes up frequently what the service considers minor and major, and many times, as I've been asked that question, it really depends on what the substance of the amendment is, not necessarily the number of amendments. So if an amendment is made to a plan that is changing something, a benefit formula, changing something that is very much of substance to plan participants, it very well could be then considered major and become individually designed. If it's something minor, changing plan sections, just making minor modifications, then normally those will stay on a 5307. I know that, in the past, someone has said there was a rule that the number of amendments or changes that you made to the plan designed whether it was individually designed or it could stay on the pre-approved program. We don't necessary look at the number of amendments. We look at the substance of them.
5300's are for, as I said, the major changes and special rulings. Those require amendments up to a current cumulative list. If you get thrown into the individually designed program, then that pre-approved plan is going to have to be amended from the list it had to come into under the program from three years ago, four years ago, up to the list that's current. And unless the 5300 submission required only, is only due to a special ruling, and that would be a special ruling request like leased employee, affiliated service group, something like that.
On slide ten, these considerations apply to how the plan must be sent into the service and what standard or review that will be applied. What we're talking about there is a 5307 is a short form application, generally either with an adoption agreement or approved, pre-approved volume submitter plan document. And we've reviewed those plans upfront so that the process then on our end for our specialists is much more limited as far as the amount of information that needs to be reviewed. Actually, those applications should go through to our processing much quicker than a 5300.
We've also had questions regarding what affects changes to pre-approved language have on the amendment cycle. On slide 11, employers who amend the amendment of a M&P or a volume submitter plan into a type not allowed into the pre-approved program more than one year after the date of the initial pre-approved adoption remains in the six-year cycle for the current cycle. Then they have to switch to the individually, the five-year cycle after that.
For the first year, they can go on … for their first cycle. But after that, they do switch to the five-year. If the changes are made within one year, or it's a complete rewrite, then it will drop right away to the individually designed cycle. That is determined on the last digit of the employer identification number, which we're going to talk about here shortly.
An employer adoption, which causes such a plan to be treated as individually designed, must file a determination letter application for continued reliance. An example of that would be where a plan is amended into a Class A allocation formula. The applications must be filed during the appropriate two-year period within the applicable six-year cycle. And then, as I said, the next ones will go on then and be filed under the five-year cycle and determined by the last digit of their employer identification number.
They will be reviewed using the cumulative list the service would have used if the plan had been submitted as an on-cycle plan for the current application, and this will be the 2009 list. We have to bring it up to the current cumulative list. Generally, this will require amendments to a volume specimen document. A prototype can be amended with tact on amendments. The pre-approved volume submitter documents are generally more like an individually designed plan where a pre-approved master prototype plan is usually a plan document with an adoption agreement, and so that's why then the tact on amendments are acceptable for those.
At some point after April 30th, which is fast approaching, we are probably going to close the program to DC adopters. Possible exceptions will be for new plans. We haven't made decisions on that yet. This will tie into the opening of the DB submission window. Once the DB submission window is open, we would accept 5307 for only the EGTRRA approved DB adopters.
Now under the staggered system, the pre-approved defined benefit plan is delayed for a couple of years beyond the defined contribution plans and the DB specimen plans must have been submitted between February 1, 2007 and January 31, 2008, so there was significantly less than the DC submissions. We had many more DC submissions than we did defined benefit submissions, and we already talked that we ready, as we speak, to issue those letters on those DB plans.
If you go on to slide 16, now we're going to go into the other part of the staggered approach, so the staggered determination letter process was bifurcated into individually designed and pre-approved. Of course, we already talked about the pre-approved, what was divided into a DB and a DC part, which is different than we ever did before. And then the individually lined program, and I'm not going to cover this in depth because we're nearing the last cycle, but it was based or it is based on the last digit of the taxpayer identification number or employer identification number for which cycle you would come in for, and we are now in Cycle E.
On slide 17, this just shows the receipts and what we projected before the program started back several years ago now, and actually, our actual receipts, and then percentage of completion. Now in Cycle D, that number, when this slide was completed, the number wasn't finalized. I don't have the definite number there, but Cycle D, the actual receipt is approximately 9,000 cases. And as far as completion of those, we are working those, and I cannot give you a percentage of completion today.
With the other cycles, Cycle A, only the very complex cases that we had to go for technical advice on, which we had to do for certain employer stock ownership plans, are left open in A, and that's the majority of what is still open from Cycle B. Just the most complicated, complex where we had to have specific guidance from Washington.
Cycle C is coming along. I think the percentage is higher than that now, and we are trying to work our way through, even those old ones. We've gotten several pieces of guidance we needed so that we can get out those cases from Cycle A and B so that we can get caught up, hopefully fairly frequently. That's our goal we're trying to get as many of those cases from prior cycles closed as soon as possible.
On with the individually designed programs, we've talked about that the first submission was Cycle A, and it was by the last digit of employer identification number. One difference between the individually designed program and the pre-approved program was that, in the individually designed program, there was no distinction between whether it was a defined contribution or a defined benefit plan. It was just strictly by the employer identification number and then certain other classes of cases such as governmental plans, multi-employer. Other ones were singled out for different cycles, and then the employer identification number.
Cycle D on slide 19, Cycle D plans had a special role in effect with regard to the restated amendments to comply with PPA. PPA-06 permits a plan sponsor to adopting a plan amendment pursuant to statutory provisions under PPA until the last day of the first plan year beginning on or after 1/1/09 or January 1, 2011 for governmental plans. PPA deferred conforming some of the text amendments for some plans.
Cycle D ended January 31, 2010, and most Cycle D plans were subject to review of PPA. However, because of the difference, Notice 2008-108 allowed plans with plan years ending 2/1/10 or later to defer their PPA restatement provisions until Cycle E, so we had a little bit of difference between PPA, what was required for Cycle D and Cycle E. So we allowed plans to come in one time only as Cycle E submitters if they met those circumstances, but then they would revert back for the next cycle back to Cycle D.
Individually designed governmental plans, we had recent guidance that extended the governmental plan 401(b) period to Cycle E that allowed additional time to comply with governmental plan regs. You didn't need to make an election. You could stay in Cycle C and receive priority, or you could wait and just come in, in Cycle E. However, then once you come in, in E, then your next cycle, you would revert back to a Cycle C filer again.
We're going to talk about one of our favorite topics, which is interim amendment. Interim amendments are required to correct disqualifying provisions. They're usually executed by the due date of the sponsor's tax return except for statutory deadline provisions. And there's a difference between the interim and discretionary. Discretionary amendments are your non-mandatory amendments. Some are for compliance. Some are for changes that you want to make to the plan because of some other change with plan language. They're usually executed by the end of the effective year. Both can be corrected in final by the restatement at the end of the remedial amendment period.
On slide 23, we talk about the interim amendment PPA '06 amendments are subject to deferral. Once that issue relates to the non-spouse beneficiary rollover, and we have questions about how to handle these and other interim amendments for purposes of determination letter filings. The general rule, which is on page 24, is for individually designed plans, copies of all interim and discretionary amendments must be included with your 5300 submission package.
For DC pre-approved plans, this is deemed satisfied by the sponsor certification as part of the ruling process. Announcement 2008-23 eliminated the need to file the actual amendment.
On slide 25 about interim amendments, submission packages must include copies of the restated document and interim amendments if required for employer signature. Here's an example. A volume submitter practitioner authorized to execute interim amendments on behalf of clients does not have to submit. If the practitioner does not carry this authority, an interim amendment must be submitted. In the pre-approved program for EGTRRA, we allow sponsors to amend plans on behalf of their clients. Most elected to, however some, and I do not know the number, but some of the sponsors did not elect to do that.
All right. I am going to turn this program over now to Andy who is going to talk about the 403(b) program.
A. Zuckerman
Thank you, Vickie. 403(b) is a very interesting area. These plans have been around for a long, long time. And there aren't really that many of them. We've got estimates anywhere between 25,000 and 35,000 of these plans, these programs. But they're a very, very important part of the savings mechanisms, the retirement savings mechanisms for certain tax exempt and educational organizations. So they cover quite a few number of individuals.
Over the years, Congress would change the law a little bit to get these programs, the 403(b) programs to look a little bit more like retirement plan, although many of the regular retirement plan provisions have applied to. Back in July of 2007, we issued some final regulations, which is the first time regs were at, since some very old regs back in 1965, and for the first time, these programs required to be in writing and set out all the particular terms that the programs should meet. When we came out with the regulations, we gave a specific time limit on when plans had to be mended—well, not amended—when they had to be put in writing, when the requirements of the regulations had to be met. And what wound up happening was many employers were telling us that they were having problems with their vendors who were having difficulty getting certain technical requirements done, certain agreements entered into between the various employers and other vendors.
We gave an extension on the time for actually getting those amendments done, but to protect the integrity of the regulations, we said that any plan document that was adopted after the deadline that the plan document should have been put in place in the first place would be extended until the end of 2009. Now that came with a catch, and the catch was that that plan had to be effective back to the beginning of 2009 and any benefits that individuals would have earned, for example, had to have been in place by the beginning of 2009 would have been earned retroactive to the beginning of 2009.
We had an issue that we don't really have with the 401 plans, regular 401A plans, which is that the internal revenue code has a period built in specifically allowing these plans, 401 plans to go back and make certain retroactive changes and get certain types of reliance on those changes, on the period during which the amendment has been made, so the plan would not be disqualified. No such provision exists for the 403(b) program, so we came out with some guidance that says when we come out with our program, our actual revenue procedures, they will include a similar, remedial amendment period, so these plans could be adopted retroactively and would not have any problem in making amendments should these plans have a problem that had to be resolved. That's a new, substantive situation, a new substantive provision that we came out with that hopefully will help these plans come into compliance with the new regulations.
As I said before, we started this program out. The first step we're going to take is coming out with a revenue procedure for pre-approved program. If you look at the top of slide 29, it doesn't say oops, but it should. It says there will be no volume submitters. Since the time that this PowerPoint was put together, we have determined that we will have a volume submitter program in addition to the master and prototype type program for 403(b) plans. We will have standardized, non-standardized benefit packages, which will make it easier for employers who have very, very simple plans, pre-approved, without anything that could possibly cause the plan to be disqualified … adopt a standardized plan, and they would not have to come in for an individually designed determination letter.
On slide 30, it shows we really hope that most of the players are going to use on the prototype approval. It's important to us that practitioners and employers utilize these documents because it just makes it much easier for the employer and for us to process letters that we might be issuing. We're hoping that since, as things currently exist, that most of the 403(b) assets are in insurance annuity contracts and custodial accounts that are invested in stocks, that these entities are the ones that will be providing most of the documentation, and we're keeping our fingers crossed that the prototype platform will be used. These are much simpler than regular qualified plans and, as a result, we're hoping that our program doesn't get flooded with these plans going forward.
The next step we're going to take is to plug in the individually designed program, and we're developing model language. We actually came out with sample model language to get feedback from the community, and we have been looking into that model language, trying to update it, and will hopefully be issuing that model language also in the coming months, so if practitioners want to use that language, notwithstanding the fact that the individually designed program is not yet opened, it'll give them a head start on making sure that they've got a good document.
The next few slides deal in general with why do you want to get a determination letter. We have a publication that addresses the significance and points out features and actions that you could take that can affect the qualified status of the plan and make your determination letter void, in essence. It's a ruling. It's a type of ruling that we issue. And it tells the employer that your plan is satisfying requirements … internal revenue code. It's, in a sense, an insurance policy where once we approve a document, should we make a mistake in the IRS in approving it, and there was a problem, there are mechanisms in place where we will require the employer to amend the plan prospectively should they be able to show that, you know, we should have known of the potential mistakes. This way, employers and employees who participate in the plan will not lose the favorable stack status that's afforded to those plan documents.
Again, the slide 34 basically shows that determination letters are not required, but employers want them because it's an inexpensive form of an insurance policy. It provides certain protection as well under the bankruptcy laws. There are some commentators that believe that it can help protect an employer from participant lawsuits in the event there's a problem with the plan because it helps to show that they took the steps necessary to make sure that the plan was in fact in good condition and qualified and the employer acted properly. There are any number of reasons why an employer would want a plan determination letter.
Tax advantages are relatively simple, but it's a change from the general rule. Normally an individual takes the income amounts when they are entitled to that money, when they vested in those assets, notwithstanding when they're actually paid out of a plan, and the employer gets the deduction when those individuals vest in the amounts. Congress has decided that that's to encourage retirement savings, to encourage employers to put money away, and employees put money away that the amounts going into the plans be tax deferred until paid out, and that the employer would get a current deduction, and the amounts of growth in the plan are not taxable. It's really quite an advantage.
I've heard it referred to as one of the best tax deductions out there. A significant portion of employer tax deductions on their business tax returns relate to those for moneys going into qualified retirement plans, and it has created a pool of assets anywhere between $17 trillion and $20 trillion depending on how the market does, which is actually the largest single pool of assets that currently exists in the world. So the system has worked. There are over 140 million participants in plans currently, and that doesn't count the beneficiaries of those participants who are not counted in that number, so considering there are 300 million people in this country, there are a substantial number covered and receiving benefits from these retirement plans.
Now I'm going to turn it back to Vickie because she's going to be talking about reminders, things to do with filing, dos and don'ts and, in some cases, issues that we, common issues that we typically see. Vickie?
V. Surguy
All right. Thank you. I'm going to tag on a little bit of what Andy just said. When I talk to our employees all the time, I tell them how important our work is because I do think what we do for the service and what you all do is very, very important to plan participants and to our economy and to benefit people's retirement. I think this is a very important part of the Internal Revenue Service that we all have a part in and that we take this very seriously and want to do the best possible job that we can to insure that participants' rights and their retirements are protected. That's my editorial comment.
Now what I want to cover now, I'm calling the nitty-gritty of the termination letter process. It's probably, really, you know, it's very important for all of you. One thing, these things help your applications go through our process much quicker. We have a new computer system that has been designed, and applications are scanned once they're received. They're received over in the Cincinnati service center. It's called a campus. They're received there, and they are scanned in and then electronically moved from individual-to-individual through our process.
For the most part, our specialists review the applications on screen, and applications are ran through what we call business rules, which tell us what cycle the case is sent in for, whether it's a defined benefit or defined contribution. Things like, is the application signed. It's ran through some general rules. It's graded for complexity because the more complex the case, the more specialized the agent has to be that works it. So there are many things that our new system does, but because of that new system, and with our wonderful world of technology these days also requires more specifics in the way you fill out your application and different things that you do with it so that it goes through our process easier.
We're just going to talk now first about just general. Individually designed plans must be restated when they're submitted. A working copy or proposed restatement is acceptable. The 5307 submissions will only be accepted for EGTRRA approved adopters. We stopped the … approved or … 5307 several, I guess, a year or more ago, a couple years ago. That was announcement 2007-90.
We did eliminate the requirement of redlining. At one point, we had redlining in our revenue procedure, redline your changes from your … document. We did eliminate that requirement. However, if you would do that, that would make the review go smoother for our specialists because if it's redlined, your changes from the … plan, it immediately shows us where to go, where the differences are. So we did eliminate that as a requirement though, so it's just up to you whether you want to do it or not because, for some practitioners taking over other plans, and putting them into their format and their document, it was too much of a burden, so that's why we eliminated that as a requirement. But, optionally, if you could do it, it's wonderful.
Include copies of your interim amendments with your individually designed submission, but you do not have to do that, and don't, for your pre-approved 5307 submissions, include copies of discretionary amendments, if any, for both 5307's or for a 5300 submission.
On page 38 or slide 38, we talk about other document issues. Submitting a restated plan in proposed form is permitted provided that copies of the timely executed interim and discretionary amendments and the prior plan document to which these amendments apply are also submitted with the application. A plan that is submitted in proposed form and only proposed amendments in the case of a plan submitted as a working copy, which is okay, but it must be adopted no later than 91 days after the date of our determination letter in order for you to maintain reliance. We've had plans come in, practitioner calls. We failed to sign everything within 91 days. If you did that, you're going to have to go in for a VC because there's nothing we can do about that. Everything has to be signed within 91 days of the date of a letter.
We return applications incomplete, and here are some on slide 39, some of the reasons why we return applications incomplete. The individually design plan 5300, the plan document with them, aren't restated for the applicable cumulative list. Even a working copy must be restated. And the next one is a biggie: insufficient user fees. You need to be careful. Make sure the user fees are the correct amount. It delays the processing of the application is the only thing I can say. We have to stop it. We have to get the current fee … process that. It just takes longer. Interim amendments are missing on individually designed plans. Prototype plans using Form 5300 must also restate for the applicable cumulative list, except noted in announcement 2008-23, and I mentioned that before.
Other issues on slide 40, demos are requested but not submitted. Related pertinent documents are missing like the initial plan document, corporate board meeting minutes, board of directors resolutions for terminating plans, mergers, related documents. Related plans, mention them in your cover letter, along with the employer identification number. Some have the same plans in multiple files, and if they get messed up in our scanner, it's difficult for us to get those pages back together again and in the right order with the right plan document.
Terminating plans aren't being amended for PPA and other currently applicable guidance such as…. Those are the most common errors that we're seeing. I really encourage you to look through that list and kind of use a checklist to make sure that you have all of those things together prior to submitting the application.
Other items of interest, and then I'm going to go over the dos and don'ts. All EP determination application forms are in the process of being updated. That is partly because of our new system and, as I mentioned, applications are scanned, and there's some optical character recognition done in our process to eliminate transcription and transcription error. But for optical character recognition, applications have to be clear. The blocks have to be filled out, readable in the little block that it's supposed to be in, or it will not be picked up correctly and be rejected. They won't be sent back to you because they're rejected, but it will delay the processing because somebody is going to then have to hand transcribe that information in.
The Form 5307 is available on the Web, the new one. We are developing a new form for group trust or pooled trust ruling. The Form is 5316. It is not available yet. Currently there is no form for group trust. They require a cover letter, so that will make those – be able to be processed easier through our electronic system with a form. And I already mentioned that there's a block format, and there's also bar codes that are associated with cases.
And I do want to also insure that you know that when you are requested to send us back any information regarding your application, a specialist will send you something called an Application Identification Sheet, and AIS. Each one of those is for each individual case, so it has a barcode that identifies that case. If you send that sheet with another case, the information that you send in will get associated with the wrong case. Each barcode is specifically identifying per each case, and that particular plan number. I hear a comment sometimes that amendments or additional information are not being associated with cases, and many times we have found out that even though it says it plain on that application identification sheet that's an individual one for each particular case, that it's being sent in with other cases or a group of information is being sent in together with just one of those sheets for multiple cases, so please insure that you send in an individual one with each application or each request for additional information that you send in.
Reminders for completing your new forms, I talked about the optical scanning, so currier ten font, alpha characters, limit the number of characters per whatever the fields are.
On page 43, I'm going to quickly cover some dos and don'ts. The only thing that should be stapled in your application is the check to the 8717. Please do not staple, bind, clip together any other parts of the application. Anything that you staple, bind, it has to be tore apart. It could jam up the scanner, and it'll take additional time to process your case. So the check needs to be stapled to the 8717, but that's it. Use the current version of the applicable forms.
Include pertinent information in your cover letter, and it gives you an example there on slide 43. Insure your application is complete. Insure that your plan documents are signed and dated. Our system even checks to make sure if the application is signed, and it will be thrown out of processing and slowed down if it's not signed. Include copies of your prior determination letter and VCP compliance statement if applicable. Clearly identify each document using title pages, numbers, or identifying separate sheets.
Insure that the 2848 is correctly completed and timely signed, or we won't be able to talk to you. We have to contact the employer directly, and then that delays your case. Separate multiple applications with brightly colored paper, so what we mean by that, if you're sending in ten cases in a box, you're not to stable and bind them, so to separate them, put in something that's going to show us, this is case one. This is plan 002. This is plan 003, something so that we know that these are separate cases.
File them on time; early is even better. Pre-approved plans include the 8905 if applicable, and … if it's word-for-word. If not, make sure you list the modifications. I already said don't use staples. Don't attach sticky notes. They get stuck in the scanners. Don't hole punch. That can make things clog in the scanners. Don't use odd sized paper. Only colored paper in between your different plan documents. And don't include unnecessary documents.
All right, 48 talks about, and you can look at that at your leisure, what we review. The big thing there is terminations need to be reviewed or updated for all current law. And there's a procedure if we find out that what we do if the pre-approved plan, if there's a language defect. It tells you on slide 48 what we do there.
And slide 49 and 50 and 51 and 52 give you the recommended filing order. I'm not going to cover that, but my suggestion is you take these slides out, look at them, give them to whatever is putting your submissions together, and have them check the order and the dos and don'ts against your application packages and then the better the order, the better the quality of what we get, the quicker your applications will be processed.
The next slide just shows our Web site, how to get to our Web site, which John already mentioned. And then in the next slide, also John discussed, and that is subscribe to our newsletters. I believe we're ready for the Q&A.
A. Zuckerman
Almost, Vickie. This is Andy. Before we get into the Q&A, just a little marketing. We really do have a very, very, very extensive Web site. We have a Web site with a lot of extensive information. It's really important, we believe, that employers and practitioners go to our Web site periodically because we have a wealth of information on there. We help draft official guidance like regulations and revenue rulings and revenue procedures, and notices, but we also have a lot of what we call soft guidance: newsletters, articles, frequently asked questions, and there is just a wealth of information there that will help you use your plans properly, timely amend, answer questions that you may have.
We also have a newsletter that goes out electronically, and I think it also provides a lot of information, so please help yourself, come to our Web site, sign up for the newsletter, and I think you'll be very happy with the results, so now, John.
J. Schmidt
Thanks, Andy, and thanks for the little extra sales pitch there at the end. Appreciate it. We are now at the point in this presentation where we will begin a question and answer session. Just one more bit of administrative things for me to do: please be advised that the program is still being recorded and a transcript and/or audio recording of this program may be made publicly available at www.irs.gov. There are about 15 or so questions that were sent in via e-mail that Vickie and Andy have taken a look at and have some prepared answers for, so I'm going to turn the microphone over to, I guess, Vickie.
V. Surguy
J. Schmidt
V. Surguy
I wanted to let you know that I think we had a wonderful response, not only to the number of you who are dialing in to listen to this, but the number who sent in prepared questions. I may not get to all of even the pre-sent in questions today. I'm going to try to cover as many as I can.
Those that I do not get to, I am planning on contacting you then or having someone from my staff contact you individually to provide you with the answer. And, any additional questions, as we've been giving this presentation, I've had questions rolling in. Of course, I don't believe that I'm going to get to those, so we will try to get to those, and if you have additional questions after this, I would like for you to go on and e-mail them to me, and I'm going to give you my e-mail address. It wasn't included on the PowerPoint. I can't promise you I will be the one that answers your question. More than likely I won't be, but I have a very qualified staff of about 120 specialists who will be more than able and ready to answer your questions and get back to you. A few of the questions that were asked in advance involved individual cases, and we've already contacted those individuals or we will be, so I won't be covering those today either.
A. Zuckerman
I strongly encourage you to e-mail Vickie with any questions you may have.
V. Surguy
Like I said, I will make sure that somebody gets back to you. And if you have problems, not today, but any other time with a delay in cases, something is going on, and you're just not sure about, feel free to e-mail me, and I will be glad to look into it and have someone get back to you.
Question one, and I'm going to try to abbreviate these questions as much as possible, and I had just put these in random order. But the first one I'm going to read here is could you please clarify what documents should be submitted with form 5307 if the plan has a favorable determination letter, but has since been restated by adopting a prototype plan? For example, if the plan obtained a favorable determination letter in '98, restated in 2001 by adopting a prototype subject to an opinion letter, and most recently adopted an EGTRRA prototype restatement in 2010, would the 5307 application include only the most recently adopted EGTRRA restatement, or should it also include all the amendments and restatements adopted since 1996 when the last plan specific determination letter was received?
The answer to that is when a 5307 application is filed, and a favorable determination letter has been received previously, all restatements and amendments since the letter should be submitted. In this specific case, all restatements and amendments since the date of the 1998 favorable level should be submitted. This would include the restated adopted in 2001, the EGTRRA restatement. Also for the 2001 restatement, proof must be provided that the document was timely adopted if adopted during the extended period.
Question number two, given the lengthy wait for determination letters submitted for Cycle A through D, we're trying to work on that, would it be possible to extend the April 30, 2010 deadline for restating and submitting plans to the IRS for adopters of the DC volume submitters? The answer to that is the deadline is not going to be extended. There are no plans to extend the deadline.
Next question, please advise how to proceed with the filing for a determination letter when you have the following situation. A timely document amended and restated for GUST using a non-standardized prototype or volume submitter master plan. All of the required amendments made and/or signed timely, same document never submitted for a favorable determination letter, plan sponsor cannot locate the initial document or any amendments, and amendments and restatements made for the plan prior to GUST. I'm sure that never happens.
The answer to that is, if the GUST document was executed on 2/28/02, or one year from the date of the opinion or advisory letter, no further documentation for GUST would be necessary. So you got approved for GUST. However, if the employer signed after that date, but prior to September 30, 2003, then it's necessary to provide documentation, which is outlined in Section 19 of Rev. Proc. 2000-20, which is modified by Rev. Proc. 2003-73 to verify that they are entitled to the extended remedial amendment period. If the document was executed after both of these dates, then you would have to wait. You'd have to want to consider a VCP submission per Rev. Proc. 2008-50.
Question number four; is there any correction procedure for failing to file a Form 8905? The employer had executed a certification under 2000-20, EIN ended in one. The attorney responsible for distributing the 8905 died in '07. The plan always operated beginning with GUST as an M&P.
The answer, the 8905 should be submitted for an adopter of an individually designed plan or a pre-approved plan that's not entitled to the six-year remedial amendment period or remedial amendment cycle—excuse me—cycle. In this case, the employer is a prior adopter of a pre-approved plan and is already entitled to the six-year cycle. Therefore, the 8905 is not required.
The next question, is it necessary for a taxpayer to submit a 5307 for EGTRRA restatements or can he or she rely on the IRS advisory letters for our pre-approved volume submitter plans? In accordance with Section 19 of Rev. Proc. 2005-16, the employer has reliance, unless modifications have been made to the pre-approved plan. Also, the first time that we really publicized that was in Announcement 2001-77 gave reliance to Volume Submitter Plans where there were no modifications. It's just restated in 2005-16.
Question number six, on the 5307 line 3d, if the amendments were made by the prototype provider without need for employer signature, unless the employer opted out of the default provision, then what date should we use for the date signed? The answer to that is the date that the prototype sponsor executed the amendment would be the date then signed. If the date is not available, indicate that in the cover letter.
The next question, I've got a few parts on this. What interim discretionary amendments must be submitted along with the EGTRRA restated plan document? We utilize the EGTRRA pre… volume submitter plan of a certain name that uses an adoption agreement permitting various elections concerning plan parameters. Leading up to the plan being restated, utilizing the EGTRRA volume submitter submission, various interim and discretionary amendments were made as follows: the final 416 reg amendment, the labor of the 2009 required minimum distribution amendment, EACA and QACA amendment, PPA and HART Act amendment. Are any of these amendments required to be submitted with the DL submission of the EGTRRA restated document? If not, what are the consequences if included anyway?
All discretionary amendments should be included with the submission. As long as the preapproved sponsor has the ability to adopt on the behalf, the middle interim amendments needs to be submitted. The dates of all the amendments will be included in the favorable determination letter. However, the plan only will have reliance on the 2004 cumulative list. Please note you submit amendments which were not timely executed, there may be consequences.
Number two on this particular question, part two, "What previous plan documents must be submitted in conjunction with the extra documents of no previous DLs were issued to the plan?" And it goes on, "If the immediate previous ....plan was a preapproved writing submitter or prototype plan that had reliance on ….86 documents prior to …plan was also pre-approved plan, what is required in the DL submission regarding these past plan documents? Would a statement certifying this, along with a copy of the ….submitter advisory letter or GUST….letter be sufficient? Can we avoid having to submit complete copies of the GUST ….submitter plan and/or ….adoption agreement?"
The answer to that is no. We have required to verify the last major law change. The complete sign and data GUST document and applicable opinion letters should be submitted. If the GUST document used an extended remedial amendment period to adopt the GUST plan, verification to how the plan qualifies for the extended remedial amendment should also be submitted.
Part three of this, if the plan being resubmitted is a preapproved EGTRA ….that utilizes an adoption agreement unless the base volume submitter plan also included in the DL submissions. Again, no modifications were made to the base plan and the trust by the submitter document as preapproved for EGTRA cannot be eliminated from the DL submission. The answer is the complete sign and dated documents and applicable opinion letter should be submitted.
Question number eight, "A volume submitter 401(k) plan must request an on cycle determination letter because a volume submitter plan statement was previously obtained for the plan, no excuse me, a VCP statement was previously obtained for the plan do a non-member issue. The volume submitter practitioner for this 401(k) plan just told us that it cannot provide written representation regarding work award adoption until after the April 30th filing deadline. We as plan sponsors cannot prepare and submit this representation because we must submit the entire Form 55307 filing under penalty of perjury. If we make the 5307 determination letter requesting filing on April 30th, but it does not contain the volume submitter representation, will we still be considered have met the filing deadline assuming that when the filing is returned to us as incomplete, we will then be able to provide the volume submitter representation within a reasonable time?"
Answer: Go on and submit your application package as complete as possible. Then we will request it when the case is reviewed by our specialist.
Question number nine, "If a plan does not specifically state as a safe harbor match will be made on payroll or will be made on an annual basis, but instead leaves the determination to the plan administrator, who in turns discloses to the participants that the safe harbor match is based on total compensation annually, when it instead makes the match on a payroll basis, is the plan not qualified because the plan document does not have a definite provision or provisions in accordance with the safe harbor match regulations or is the plan not qualified because the plan operations are not in accordance with what has been communicated in the safe harbor notice? Under what circumstances would an opinion letter be revoked and how is the review initiated?"
Generally the fact that the plan allows for discretion could result in a disqualification issue. It should be amended to clearly define how the safe harbor match will be handled in operation. And that is notice 2000-3. Section 22…..2005-16 discusses revocation of an opinion or advisory letter. If you have more questions about that, you need to contact us and we will put you in contact with someone who can more thoroughly discuss that issue about the revocation of an opinion on an advisory letter.
Question ten: "Please address the following question: can an employer file a 5310 for ….plan acquired in an acquisition in which we have ….stated document and the….statement, but the 2001 initial plan document, the pre-GUST cannot be located. We know that the ….sponsor for the initial 2001 plan document, but those files have been destroyed. And all of the prior personal and acquired entities were terminated and documents can't be located. It's our understanding that there reviewer should only ….going back to GUST and the determination letter review, is there a difference if a 5310 is to have a 5300?"
The answer is generally if the GUST restatement was signed by 2/28/02 or within one year of the opinion letter, there should be no issue. It the plan relied on the initial document to extend the ….amendment period for a GUST document, there may be an issue. It would have to be worked on on a case by case basis.
Next there are four questions…. I'm actually wanted to cover the first three. "A preapproved plan with variations from the preapproved document is submitted to the IRS for determination letter and the IRS reviews and concluded that there are too many variations and the plan is therefore individually designed. What happens and what are the consequences?" We discussed this a little earlier. According to Section 24.02 of …..2005…., the plan will stay on the six year cycle as stated in ….2007-44 Section 19, the employer will submit in the two year window, but then will….to amend for cumulative list based on the date of application. However under …..2005-16, Section 24.03, the service may determine that the plan is individually designed and will not receive the extended….amendment cycle due to the nature and then this will switch it to the five remedial amendment cycle.
"What if a volume submitted or prototype plan is timely amended, but submitted after 4/30 is it a late filer for the current round? Is it early filer for the next round?" We have not made any decisions on that yet.
"What happens if a company previously adopted a preapproved plan for its GUST restatement, but it did not submit it for determination….to submit the ….preapproved plan as adopted for determination letter, but because so many years have gone by, the underlying GUST preapproved plan is no longer available, should the employer submit what it has, that is the preapproved ….restatement and the preapproved GUST restatement, plus the interim amendments as a Form 5307 submission?" Yes, they should submit what they have assuming the preapproved GUST restatement is available to be submitted. The employer should submit….and GUST plans on a Form 5307.
We have six minutes. Next question, "A client accidentally sent in their determination letter package to the wrong IRS address and forgot to include their check. That probably never happens either. They received the package back and immediately we sent the package to the correct address, enclosing the appropriate check. Will the IRS accept this request as they have now passed their original filing date or can the IRS accept the package and overlook the clerical error?" The answer is if they proved that the original package was sent to the incorrect IRS address and returned, we will accept that original date. However, the campus, which is the processing center over in Kentucky where the applications go will establish it with the most recent date. There should be included a detailed explanation of what happened, so the specialist can review that when the case is assigned.
A. Zuckerman
This is Andy. We will be concerned if it happens from the same practitioner on numerous occasions that this is just a way to extend the filing deadline and start asking questions about that because obviously we have a deadline for a reason. Sending it to the wrong address, waiting for it to come back might give you another week, but if there's a lot happening with the same practitioner, we have to question whether or not this was done deliberately or not.
V. Surguy
Yes, we'll need the proof and those kinds of things. One of our ways of processing cases, we try and make more efficient review is to batch cases by practitioner. So that would be noticed. Some of the things we've noticed in the past that have had the most consequences in plan review have been because we had a group of cases that on its own one may have been fine. But when we saw many that were together, we saw a trend that was of concern. So we do group cases by practitioner as much as possible.
We have four minutes. "If the plan has been involved in a merger, how much documentation should be provided? For example, if the merge plan does not have a determination letter, should only the prior document be provided or the prior document and our regulatory amendment?" The answer: submit the GUST plan, include the applicable advisory or opinion letter and all of the amendments up to the date of the merger. Second part, if a plan has been involved in a merger and the assets are subsequently spun off to the attachment of the question ….still be completed. Yes, check 8F and include an explanation of the transaction.
One note I just thought of back with the dos and don'ts, don't send the Schedule Q in with an application if you're not asking for a ruling on demo. There are times we get applications in where there's a Schedule Q, but they're not asking for a ruling. They just included it because they thought we wanted it. And that kicked it out of our system, making the case take longer to go through our processing than if you did not include the Schedule Q.
Two minutes. Is it okay to go on with the next question?
A. Zuckerman
Yes, we have time for one more.
V. Surguy
"Could you explain how we address a plan that was restated multiple times but not determination letters were requested? The earlier document could not be located, but we believe that the document did exist. We now do the legal work on the plan and want to submit it for determination letter." Consider a voluntary compliance submission per …..2008-50.
All right, I think that is going to be my last question that I answer because we are getting close to the time that the session is supposed to be over.
J. Schmidt
Thank you very much, Vickie and Andy for doing this and, of course, thanks to everybody who called in and participated this afternoon. Thank you very much.
Ladies and gentlemen, this does conclude our conference for today. Thank you for your participation and for using AT&T Teleconference Service.
You may now disconnect.


text:
PORTLAND, Maine (AP) — Tax-weary Mainers on Tuesday rejected a new tax reform law that would have lowered the state's income tax rates while placing new taxes on dozens of purchases ranging from car repairs and amusement park admissions to movie tickets and dry cleaning.
The law, which was passed by lawmakers last year but has not gone into effect, would have lowered Maine's top income tax rate from 8.5 percent to 6.5 percent. To make up the difference, the law would have broadened the existing 5 percent sales tax to a laundry list of items that are now exempt. It also would have hiked the food and lodging tax, from 7 to 8.5 percent.
Mainers favored the repeal by a 60-40 margin as numbers were counted late Tuesday.
Supporters of the law said nearly 90 percent of Mainers would have seen their combined income and sales tax payments drop because out-of-state visitors would have paid more of the sales taxes. But opponents said it amounted to new taxes on everyday purchases that would be felt by every Mainer.
Mainers voted against the tax law after they realized how complicated it was and how many purchases would be subject to sales taxes that are currently exempt, said Curtis Picard, executive director of the Maine Merchants Association, which supported repealing the law.
"I think there is a need for tax reform in Maine," Picard said. "But all this law did was pit Mainer vs. Mainer and create winners and losers, and that wasn't a good situation. We need tax reform that's fair for everybody."
Crystal Canney, spokeswoman for the political action committee that supported keeping the law in place, said the election was a missed opportunity for Maine.
"Tax reform is an issue this state needs to deal with," she said. "But we respect the will of the people."
The law, described as the most sweeping change in Maine's tax code since income taxes were adopted in 1969, was designed to be revenue-neutral, but Maine Revenue Services projected it would result in tax savings of $54.3 million for Mainers in 2011 because out-of-state visitors would pay more at restaurants and hotels, for car rentals and for other purchases in Maine.
If the law had been retained, the average Maine family in 2011 would have paid less in income taxes but more in sales taxes — for a combined savings of $77, the agency said.
At a Portland polling place Tuesday, Toby Hollander said he trusted that lawmakers chose the best option in passing the tax overhaul.
"I think the general idea of spreading out the sales tax so that we're not totally dependent just on things that are subject to the recession is a good idea. We've been going through this for years and years and years. This is something that needed to be done a long time ago," said Hollander, who is a guardian for children in the court system.
Linda Cooledge, a lifelong Portland resident who said she's considering moving to Florida because of Maine's high tax burden, voted against the tax law because she didn't want to see taxes expanded to new goods and services.
"Once they've got their hands in our pocket for these little taxes on everything, now they've got the go-ahead to add to it every year. Once the government and the state of Maine has their hand in your pocket, they keep dipping further and further," she said.
Soon after the law was passed, a coalition to repeal the tax law collected more than 60,000 signatures to force a statewide vote.
Maine's business community split over the measure. The Maine State Chamber of Commerce and the Portland Regional Chamber supported keeping the law, but the Maine Merchants Association, the Maine Restaurant Association and other business organizations opposed it.
Associated Press writer David Sharp in Portland contributed to this report.


text:
Correctional Officers Union Endorses Caprio for Treasurer
Friday, April 18, 2014
"The hard-working men and women in our union are excited to support Frank in his comeback bid for the Treasurer's office," said RIBCO President Richard Ferruccio. "Frank will be a strong voice for middle class families who want a Treasurer who saves taxpayer dollars and works everyday to grow the economy and create jobs."
RIBCO currently represents approximately 1,300 members through their union, which is comprised of rank and file officers, stewards, inmate industries' supervisors, office personnel, and medical and social work professionals.
"I am grateful to have earned the support of 1,200 public safety professionals," said Frank Caprio. "I can't wait to get back to work in the Treasurer's office and deliver top-notch customer service, an open and transparent government office and to maximize our returns for our pension fund while limiting the fees we pay. We need to focus on investing in small businesses and working families here in Rhode Island and as the state's Treasurer, I will do just that."
Previously serving as the Treasurer of Rhode Island from 2007 to 2011, Caprio reduced spending in the office, saved the pension fund approximately $1 billion by getting the state out of toxic investments in the subprime mortgage market and cut the amount the taxpayers paid in investments fees to Wall Street money managers.
The endorsement from RIBCO joins Caprio's previous endorsement wins from the RI State Association of Fire Fighters, North Providence Mayor Charles Lombardi, Johnston Mayor Joseph Polisena, Central Falls Mayor James Diossa, State Representative Grace Diaz and the Johnston Democratic Town Committee.
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Comment #1 by David Beagle on 2014 04 18
RI shouldn't even have it's own prison, we should just contract the inmates at the ACI out to other states. That would save a ton of money
Comment #2 by George Costanza on 2014 04 19
Caprio lost $227 million of RI's money when AIG tanked. He had to travel to New York to beg the NY Fed to give RI back it's money.
Months before that (May and June) there were several Investment firms that had come out with public statements detailing AIG's accounting as fantastical and it was trading at $1.25 a share just the week before. Even I knew they were tanking that summer and I'm a part time investor.
Someone in the Treasurers office should be responsible for tracking the states investments and looking at warning signs that the investment is in danger but the person who is elected is the bottom line.
The political lazy susan continues in the dumbest State in the union.
Comment #3 by Jim D on 2014 04 19
Comment #4 by mark malachi on 2014 04 19
Comment #5 by LENNY BRUCE on 2014 04 23
What housing investments did he pull out of and when? Some details might make me soften my stance somewhat but just making a blanket statement won't.
Comment #6 by Jim D on 2014 04 23