Benefits Forward

The IRS has issued final regulations governing disclosure obligations of employee benefit plans and other tax exempt organizations engaged in prohibited tax shelter transactions.

Notice 2010-52 provides guidance as to the corporate bond weighted average interest rate and the permissible range of interest rates specified under § 412(b)(5)(B)(ii)(II) of the Internal Revenue Code. It also provides guidance on the corporate bond monthly yield curve (and the corresponding spot segment rates), the 24-month average segment rates, and the funding transitional segment rates under § 430(h)(2). In addition, this notice provides guidance as to the interest rate on 30-year Treasury securities under § 417(e)(3)(A)(ii)(II) as in effect for plan years beginning before 2008, and the minimum present value segment rates under § 417(e)(3)(D) as in effect for plan years beginning after 2007.

Notice 2010-48 extends to July 30, 2010 the April 30 deadline for restating certain disaster affected pre-approved defined contribution plans.

Small firms may now begin applying for certification for tax credits for grants available under the Qualifying Therapuetic Discovery Project Program, created by the Affordable Care Act.

The Federal Register version of the interim final regulations governing grandfathered plan status for purposes of the Patient Protection Act.

Notice 2010-47 provides guidance on the corporate bond interest rate and the permissible range for purposes of Section 412(b).

NAIC external review Model Act as most recently amended.

The DOL releases a Fact Sheet on the interim final rules governing the Affordable care Act’s internal claims and review and external appeals procedures.

The agencies release interim final rules on the Affordable Care Act’s internal claims and appeals rules.

The Information Letter addresses the reporting of certain plan expenses on Schedule C of the Form 5500.

The Agencies issue interim final regulations on the Affordable Care Act’s provisions governing the provision of preventive services.

The DOL has, at long last, issued its interim final regulations on fee disclosure under Section 408(b)(2).

The PBGC has issued proposed regulations designed to revise its procedures to conform with those under the Federal Debt Collection Improvement Act and with other federal debt collection laws.

The PBGC announces the interest rate to be used in valuing lump sum payments in August.

The PBGC provides disaster relief for parts of West Virginia affected by severe storms, flooding, mudslides and landslides.

The PBGC has announced the interest rate for valuing lump sum payments in July.

As promised, the PBGC has released Technical Update 10-2 providing relief for those electing to use the alternative premium funding target to calculate the variable rate premium but failing to check the correct box.

The PBGC releases Technical Update 10-1 regarding Schedule R filings to Form 5500 for multiemployer plans.

NAIC external review Model Act as most recently amended.

The agencies release interim final rules on the Affordable Care Act’s internal claims and appeals rules.

HHS issues proposed regulations implementing HIPAA changes under the HITECH Act.

The Federal Register version of the interim final regulations governing grandfathered plan status for purposes of the Patient Protection Act.

See article (revision of article I wrote 4 years ago) entitled “Roadmap to Employment And Change in Control Agreements (Customary Provisions, Noncompete Issues, Excess Parachute Tax and §409A Rules),”   38 Tax Management Compensation Planning Journal 151 (June 4, 2010) at
www.ebeclaw.com/ebeclaw/memos/Employment_and_Change_of_Control_Agmts_2010.pdf

The Congressional Budget Office presents a presentation to the Institute of Medicine on the impact of rising health care costs on the Federal budget.