Financial Planning

PENSION CRISES SPUR COMPANIES TO CHANGE PLANS: Beset by increased costs, falling investment returns and pressure to limit future risk, more than half of the 125 companies participating in a Deloitte Consulting survey said that they are considering or already have made changes to their pension plans in the past year.

by Bob Rywick

by Cynthia Harrington

NEW YORK LIFE APPOINTS MURDOCK: New York Life Investment Management LLC appointed Brian Murdock, 48, as president of the $183 billion investment concern, headquartered in Parsippany, N.J.

DENVER — As part of plans announced earlier to consolidate its headquarters in Denver and shutter its Atlanta office by the end of this year, the Financial Planning Association is preparing to move four of its key departments from Atlanta to Denver.

Generally, alimony payments are deductible by the payor in computing adjusted gross income, and are includible in gross income by the payee.

by Cynthia Harrington

SNOW SAYS ADMINISTRATION WILL WORK TO REFORM FUND INDUSTRY: Treasury Secretary John Snow told a financial lobbying group that the Bush administration supports an overhaul of the $7.5 trillion mutual fund industry, and would work with fund companies on possible reform strategies.

A qualified distribution from a Roth IRA is not includible in a taxpayer’s gross income. A qualified distribution is a distribution that is made after the expiration of a five-year holding period, and is made:

by Phyllis Bernstein