Confused about whether you can contribute to a Roth IRA? The IRS suggests checking these simple rules:IncomeTo contribute to a Roth IRA, you must have compensation (e.g., wages, salary, tips, professional fees, bonuses).

The Treasury Department and IRS issued final regulations this week to conform to changes made under section 411(d)(6)(E), as added by the Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA), relating to defined contribution retirement plans that offer lump sum distributions. The regulations are substantially similar to proposed regulations that were issued in 2003.The regulations are effective immediately. These final regulations retain the general structure and much of the substance of the proposed regulations, including an example illustrating the provisions.

Some companies are taking weeks to deposit workers' 401(k) contributions, earning interest on the money that should rightfully go to employees.According to MarketWatch, depositing 401(k) deposits can take as long as seven weeks, enough time for employers to earn short-term interest on the period between the deduction and deposit. The 1997 law is expected to be updated with deadlines of “a couple of weeks or so,” said Ann Combs, assistant secretary for the Employee Benefits Security Administration, the Labor Department unit that oversees 401(k) plans.

Financial Executives Research Foundation (FERF), the research affiliate of Financial Executives International (FEI), has issued three new research reports as part of its mission to provide ongoing education to FEI's members. FEI is the leading professional association for CFOs and other senior financial executives. The reports include:Corporate Governance Survey -- FERF and The Board Institute (TBI) conducted a survey to help shed light on the quality and standards of corporate governance in the U.S. today at public and private companies.

The Governmental Accounting Standards Board (GASB) has published a staff Technical Bulletin, Recognition of Pension and Other Postemployment Benefit (OPEB) Expenditures/Expense and Liabilities by Cost-Sharing Employers. The Technical Bulletin clarifies the application of requirements regarding accounting for employers' contractually required contributions to cost-sharing pension and OPEB plans issued in Statement No. 27, Accounting for Pensions by State and Local Governmental Employers, and Statement No.

Earlier this week, the Treasury Department and the IRS issued guidance on the new automatic (or default) rollover rules for qualified retirement plans.

In a surprising announcement that may have a ripple effect throughout corporate American, International Business Machines Corp. has stated that as of January 1, 2005 it will no longer offer its cash-balance pension plan to newly hired employees.

When seeking money for their startup business many entrepreneurs are turning to the Solo 401(k) to get a loan.Solo 401(k) retirement plans with a loan feature first became available in 2002 as a result of tax law changes that lifted restrictions on business owners getting a loan from their 401(k) plan. This change is important because in most cases when one withdraws money from a retirement account prior to age 59 ½ they are hit with a 10% tax penalty on top of the regular income tax.