The Internal Revenue Service has announced that the 2012 tax filing deadline will be April 17, 2012. Taxpayers will have two extra days to file this year because the traditional April 15deadline falls on a Sunday and that Monday, April 16, is Emancipation Day. This holiday is observed in the District of Columbia and by law it impacts tax deadlines in the same way as a federal holiday.

Many employees are planning on working well past the traditional retirement age of 65. A survey conducted during Fourth Quarter 2011 found that 75 percent of respondents expected to work through retirement. And 25 percent of that group said that they would work till age 80. This trend could impact you, as a retirement plan sponsor, in several ways: 

When you are trying to choose which funds to invest your retirement savings in, the return on investment shouldn’t be the only factor in your evaluation. You should also pay close attention to the fee connected with that fund.

The Internal Revenue Service (IRS) recently reported that of the 1,200 plan sponsors contacted to complete their 401(k) Compliance Check Questionnaire, there was a participation rate of 95 percent. The IRS is now reviewing the data received and will post its findings online by the end of 2012.

The Fall 2011 issue of Retirement News for Employers was recently released by the Internal Revenue Service (IRS). Available on the IRS Web site, this newsletter offers information on several topics of interest to plan sponsors, including: 

Last month, at the annual conference of the American Society of Pension Professionals and Actuaries (ASPPA), attendees were made aware of the fact that in a search to boost tax revenue, federal lawmakers have discussed lowering pre-tax limits and deduction with retirement plans. Lawmakers are under the mistaken impression that the following myths on this topic are true: 

The Social Security Administration recently announced a cost-of-living adjustment (COLA) for 2012, an increase of 3.6 percent, which is good news for those receiving Social Security benefits. Seniors will receive an average of $43 more a month and disabled individuals will receive $39 more a month. This COLA is the first since 2009.

Plan sponsors and participants should review their plan-related beneficiary information on a regular basis and update it when necessary. A recent article posted on the 401khelpcenter.com Web site says that 401(k) retirement plans and Individual Retirement Accounts (IRAs) now account for at least 60 percent of the assets of U.S. households investing at least $100,000. Given the amounts of money that may be involved, it is all the more important that benefits go to the proper beneficiaries.