Financial Planning

Eisner Retirement Solutions, a unit of regional CPA and business advisory firm Eisner, unveiled a free turnkey product to assist plan sponsors in complying with the Department of Labor's mandatory individual retirement account rollover requirements that were laid out in the Economic Growth and Tax Relief Act of 2001.

* FPA FILES LAWSUIT AGAINST SEC: The Financial Planning Association filed a petition in a District of Columbia Circuit Court of Appeals challenging a Securities and Exchange Commission rule exempting certain broker/dealers from the requirements of the Investment Advisers Act of 1940.

The laws that govern estate and retirement planning do not change much from year to year beyond adjustments to the relevant tax tables. In fact, the most recent major changes stem from the Economic Growth and Tax Relief Reconciliation Act of 2001.

While individuals are allowed to exclude gain of $250,000 ($500,000 by a married couple filing a joint return) on the sale of property owned and used as a principal residence for at least two years in the five-year period ending on the date of the sale, they should still do everything possible to determine their basis in a principal residence.

The U.S. Department of Labor and the Securities and Exchange Commission have published tips to assist fiduciaries of employee benefit plans in reviewing conflicts of interest of pension consultants.

The American Institute of CPAs has expanded upon its 360 Degrees of Financial Literacy program with the launch of a financial literacy program targeted at women.

The president's panel studying tax overhaul options isn't expected to recommend major changes to the estate tax, according to published reports.

Legislators and the public should be aware that carry-over basis problems of estate tax repeal could be a nightmare, according to the American Association of Attorney-CPAs.

The College for Financial Planning, based here, is offering advisor training for a financial planning designation that focuses on issues related to working with seniors -- a fast-growing age group that it says will represent 20 percent of the population within the next 25 years.

FPA SEEKS BOARD NOMINATIONS: The Financial Planning Association is currently accepting nominations for its 2006 board of directors.Members of the FPA's 2005 board will elect the 2006 board from candidates nominated by June 30, 2005. The 2006 board of directors will consist of up to 18 members, including three officers. The new members elected in 2005 will each serve three-year terms beginning on Jan. 1, 2006.