Today's Update

IRS Guidance

Changes to Determination Letter Processing

Announcement 2015-01 announces changes to the processing of determination letter applications. Document Excerpt This announcement describes changes to the processing of employee plans determination letters that will take effect in 2015. These changes are being adopted as a result of a process improvement strategy designed to promote case processing efficiency. The changes to the determination […]

PEP Plan Determination Letter Requests

The IRS has released information as to what will be required by agents in processing request for determination letters on behalf of PEP (Pension Equity Plan) applicants. The information discuss the issues unique to such plans. Document Excerpt The PEP Determinations Worksheet and Explanation of PEP Plan Issues are for IRS employees to use in […]

Update on Corporate Bond Rates

Notice 2014-78 provides an update on the corporate bond interest rates. Document Excerpt  This notice provides guidance on the corporate bond monthly yield curve, the corresponding spot segment rates used under § 417(e)(3), and the 24-month average segment rates under § 430(h)(2) of the Internal Revenue Code. In addition, this notice provides guidance as to […]

2014 Cumulative List

Notice 2014-77 contains the 2014 Cumulative List of Changes applicable to individually designed plans to be submitted for determination during the period February 1, 2015 and ending January 31, 2016. Document Excerpt  This notice contains the 2014 Cumulative List of Changes in Plan Qualification Requirements (2014 Cumulative List) described in section 4 of Rev. Proc. […]

Deadline For Submitting On-Cycle Pre-approved Defined Benefit Plans Extended

Announcement 2014-41 extends to June 30, 2015 the deadline for submitting on-cycle applications for opinion and advisory letters for pre-approved defined benefit plans. Document Excerpt  This announcement extends to June 30, 2015, the deadline for submitting on-cycle applications for opinion and advisory letters for pre-approved defined benefit plans for the plans’ second six-year remedial amendment […]

Realignment within TE/GE

Announcement 2014-34 addresses the realignment of certain responsibilities for issues involving exempt organizations, qualified retirement plans and IRAs to the Office of Chief Counsel. Document Excerpt This announcement addresses the transfer of certain technical responsibility for issues involving exempt organizations, qualified retirement plans, and individual retirement annuities and accounts (IRAs) to the Office of Chief […]

DOL Guidance

Proposed Changes to Excepted Benefit Rule

The agencies have proposed an amendment to the excepted benefit rules dealing with limited wraparound coverage. Document Excerpt This document contains proposed rules that would amend the regulations regarding excepted benefits under the Employee Retirement Income Security Act of 1974, the Internal Revenue Code (the Code), and the Public Health Service Act related to limited […]

Mental Health Parity Qs and As

The DOL has updated its Mental Health Parity Questions and Answers. Document Excerpt These FAQs provide basic information about the important protections MHPAEA provides with respect to parity in coverage of mental health and substance use disorder benefi ts and medical/surgical benefi ts provided by employment-based group health plans.   Link http://www.dol.gov/ebsa/pdf/cagmhpaea.pdf

Supreme Court to Hear Healthcare Subsidy Case

The U.S. Supreme Court has agreed to hear King v. Burwell, a case questioning the legitimacy of providing subsidies to individuals who purchase health coverage through the Federal, rather than through a State, Exchange. Document Excerpt QUESTION PRESENTED: Section 36B of the Internal Revenue Code, which was enacted as part of the Patient Protection and […]

Guidance on State Regulation of Stop-Loss Insurance

The DOL has posted to its site Technical Release 2014-01 providing guidance on state regulation of stop-loss insurance. Document Excerpt The Department of Labor, which is the agency primarily tasked with administration of Title I of ERISA,(9) takes the view that States may regulate insurance policies issued to plans or plan sponsors, including stop-loss insurance […]

Implementation FAQs Part XXII

The DOL has released Frequently Asked Questions Implementation Part XXII regarding the implementation of the Affordable Care Act. Document Excerpt Set out below are additional Frequently Asked Questions (FAQs) regarding implementation of the Affordable Care Act. These FAQs have been prepared jointly by the Departments of Labor (DOL), Health and Human Services (HHS), and the […]

Information Letter on Use of Target Date Funds for Lifetime Income

In conjunction with the IRS’ release of Notice 2014-66, the Department of Labor has issued an Information Letter discussing the implications of using a series of target date funds to provide lifetime income from a defined contribution plan. Document Excerpt This responds to your request for the Department of Labor’s (the Department) views on whether […]

PBGC Guidance

Final Asset Allocation Rules

The PBGC releases its final asset allocation rules regarding the termination of a single employer plan. Document Excerpt This final rule amends the Pension Benefit Guaranty Corporation’s regulations on Benefits Payable in Terminated Single-Employer Plans and Allocation of Assets in Single-Employer Plans to prescribe interest assumptions under the benefit payments regulation for valuation dates in […]

PBGC Fall Regulatory Agenda

The PBGC releases is fall 2014 regulatory agenda. Document Excerpt Link http://www.reginfo.gov/public/do/eAgendaMain?operation=OPERATION_GET_AGENCY_RULE_LIST&currentPub=true&agencyCode=&showStage=active&agencyCd=1212

Amendments to Asset Allocation Regulations

The PBGC has issued amendments to its asset allocation regulations substituting a new table for determining expected retirement ages for participants in certain plans undergoing distress or involuntary terminations. Document Excerpt This rule amends the Pension Benefit Guaranty Corporation’s regulation on Allocation of Assets in Single-Employer Plans by substituting a new table for determining expected […]

Final Rule on 401(k) Rollovers to Defined Benefit Plans

The PBGC has issued its final rule on participant rollovers of 401(k) accounts to traditional defined benefit plans. Document Excerpt In April 2014, PBGC proposed to amend its regulations to clarify the treatment of benefits resulting from a rollover distribution from a defined contribution plan to a defined benefit plan, if the defined benefit plan […]

PBGC Lump Sum Rate

The PBGC announces the lump sum rate for December. Document Excerpt The immediate interest rate for valuing lump sum payments for the month of December 2014 is 1.00% and the deferred interest rate I1 is 4.00%, I2 is 4.00%, and I3 is 4.00%. Link http://www.pbgc.gov/prac/interest/monthly.html?cid=COLA01ABNOV15201417&source=govdelivery&utm_medium=email&utm_source=govdelivery

Disaster Relief For Parts of California

The PBGC has announced disaster relief for affected plans in California as a result of the earthquake. Document Excerpt Pension Benefit Guaranty Corporation (“PBGC”) is waiving certain penalties and extending certain deadlines in response to the Earthquake that began on August 24, 2014, in California. Link http://www.pbgc.gov/prac/other-guidance/dr/dr14-07.html

Articles, White Papers & Other Information

Proposed Multiemployer Plan Legislation

The proposed legislation would, among other things, allow trustees of severely underfunded pension plans to adjust vested benefits. Document Excerpt Link http://amendments-rules.house.gov/amendments/KLINE129141934463446.pdf

Supreme Court to Hear Healthcare Subsidy Case

The U.S. Supreme Court has agreed to hear King v. Burwell, a case questioning the legitimacy of providing subsidies to individuals who purchase health coverage through the Federal, rather than through a State, Exchange. Document Excerpt QUESTION PRESENTED: Section 36B of the Internal Revenue Code, which was enacted as part of the Patient Protection and […]

Health Plan Identifier Delayed

The Office of e-Health Standards and Services announces a delay in enforcement of compliance with the Health Plan Identifier regulations. Document Excerpt The Health Plan Identifier (HPID) is a standard, unique health plan identifier required by the Health Insurance Portability & Accountability Act of 1996 (HIPAA).  On September 5, 2012 the Department of Health and […]

FAQs on HPID

CMS releases frequently asked questions on the Affordable Care Act’s health plan identifiers requirement. Document Excerpt Link https://questions.cms.gov/faq.php?isDept=0&search=HPID&searchType=keyword&submitSearch=1&id=5005

DC Circuit Holds that Subsidies May Not be Extended to Federal Exchanges

Issuing its ruling shortly before the Fourth Circuit upheld such subsidies, the DC Circuit holds that the Affordable Care Act’s subsidies may not be extended to those who purchase insurance through a Federal Exchange as the statute provides for such subsidies only when purchased under a state maintained exchange. Document Excerpt We conclude that appellants […]

Fourth Circuit Upholds Federal Exchange Subsidies

Concluding that the statute and the legislative history was not clear, the Fourth Circuit upheld the regulatory interpretation allowing subsidies to those who otherwise qualify but who purchase under Federally established exchanges. Document Excerpt It is thus entirely sensible that the IRS would enact the regulations it did, making Chevron deference appropriate. Confronted with the […]

About Us

Benefits Forward is a news site for professionals in the field of employment benefits. Our goal is to provide the latest information about the benefits field and to host a community discussion regarding related issues.

Seminars, Conferences & Other Events

  • Sorry, there are no articles in this category.

Sign Up

Enjoy the information on our site? Join the community and become a contributor - it's easy and free. Register today!

How To Post

Already a member but need help posting? Click here for instructions.