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Feds offer relief for benefits plans affected by Ike

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in Employee Benefits Program,Human Resources

In response to damage caused by Hurricane Ike, the IRS, the U.S. Department of Labor’s Employee Benefits Security Administration and the Pension Benefit Guaranty Corporation have issued a federal notice allowing leeway for compliance with employee benefits plan requirements.

The notice (No. 2008-87) provides flexibility on meeting the usual filing deadlines for employee benefits plans whose normal administrative operations in Texas were disrupted by Hurricane Ike.

The additional relief was authorized under tax code Section 7508A(b) and applies only to employee benefits plans affected by an event declared a federal disaster, such as Hurricane Ike.

The notice covers Texas counties in which employee benefits plan offices, plan sponsors, administrators or participants were located or resided as of Sept. 7, 2008. These include Brazoria, Chambers, Galveston, Harris, Jefferson, Liberty, Montgomery and Orange counties.

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