October | VOLUME #99
National Save for Retirement Week (NS4RW) is a national
event endorsed by Congress that takes place during the week of October 21 to
25. The Division of Retirement and Benefits invites all employers and political subdivisions to join us in celebrating and promoting this important event that calls on all employees to take full advantage of their employer retirement plans. During this week, the Division will
hold activities that will enable you and your employees to learn more about the State sponsored
Here are some ways you can promote National Save for Retirement Week:
- Print and distribute promotional posters [PDF 628K] and brochures [PDF 645K].
- Encourage employees to attend a seminar and set
up an appointment with a counselor
- Provide information about added savings vehicles you may offer
Visit Alaska.gov/drb for more information about National Save for Retirement Week. This is an excellent time for employers who offer other savings vehicles (separate and in addition to PERS or TRS) to promote retirement savings in general.
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December 12 and 13 in Anchorage at the Captain Cook Hotel
There is still time to register for the Employer Training, December 12 and 13 in Anchorage.
All employers and political subdivisions are invited to learn about the following topics:
- Rehired Annuitants
- Scattered Leave Without Pay
- Federal Voluntary Compliance Program
- Guidelines for Gaming Activities
- Independent Contractors vs. Employees
- New Health Care Information
Learn more and register.
Have a suggestion for a topic? Submit a topic suggestion.
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IRS TO PLACE GUIDANCE ON ELECTRONIC FILING OF
INFORMATION RETURNS IN PUBLICATIONS
The IRS has announced (Announcement 2013-40, 2013-38 IRB 226) that guidance for
the electronic filing of information returns will no longer be issued as
revenue procedures but will be available as publications on the IRS Web site (www.irs.gov):
1220 for Forms 1097, 1098, 1099, 3921, 3922, 5498, 8935, and W-2G
1239 for Form 8027
4810 for Form 8955-SSA
1187 for Form 1042-S
1516 for Form 8596]
The Web site for information returns on www.irs.gov has been
redesigned and... will
contain links to the above publications, record specifications and layouts, and
other helpful information for filing information returns. To access the Web site
go to www.irs.gov
and search on 'filing information returns'. The test system
for Filing Information Returns Electronically (FIRE) will be available
beginning on November 12, 2013.
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2013-65 announces the special per diem rates effective October 1, 2013,
which taxpayers may use to substantiate the amount of expenses for lodging,
meals, and incidental expenses when traveling away from home. The rates
are the special transportation industry rate, the rate for the incidental
expenses only deduction, and the rates and list of high-cost localities for
purposes of the high-low substantiation method.
Rev. Proc. 2011-47 provides the rules for using per diem rates, rather than
actual expenses, to substantiate the amount of expenses for lodging, meals, and
incidental expenses for travel away from home. Taxpayers who may use per
diem rates to substantiate the amount of travel expenses under Rev. Proc.
2011-47 may use the federal per diem rates published annually by the General
Services Administration. Rev. Proc. 2011-47 allows certain taxpayers to
use a special transportation industry rate or rates under a high-low
substantiation method for certain high-cost localities. The IRS announces
these rates and the rate for the incidental expenses only deduction in an
Use of a per diem substantiation method is not mandatory. A taxpayer
may substantiate actual allowable expenses if the taxpayer maintains adequate
records or other sufficient evidence for proper substantiation.
Notice 2013-65 will be published in Internal
Revenue Bulletin 2013-42 on Oct. 15, 2013.
Source: IRS Guidewire
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Please remember the Division of Retirement & Benefits and Great-West Retirement Services are periodically changing forms. In order to ensure your employees have completed the proper form it is very important you, as the employer, have the most current forms. The most common incorrect or outdated forms the division receives are the Defined Contribution Retirement Distribution forms and the Defined Benefits Refund Election Form (gen008) [PDF].