Today's Update

IRS Guidance

Revenue Procedure Clarifies Which Hardship Amendments are Deemed Integral to a Qualification Provision

Document Excerpt This revenue procedure clarifies which amendments are treated as integral to a plan provision that fails to satisfy the qualification requirements of the Internal Revenue Code (Code) by reason of a change to those requirements made by the recently published regulations under §§ 401(k) and 401(m) relating to hardship distributions of elective deferrals. […]

Updated Funding Mortality Table

Document Excerpt This notice specifies updated mortality improvement rates and static mortality tables to be used for defined benefit pension plans under § 430(h)(3)(A) of the Internal Revenue Code (Code) and section 303(h)(3)(A) of the Employee Retirement Income Security Act of 1974, Pub. L. No. 93-406, as amended (ERISA). These updated mortality improvement rates and […]

Calculation of UBTI for certain Exempt Organizations

Document Excerpt This document contains a final regulation providing guidance on how certain organizations that provide employee benefits must calculate unrelated business taxable income (UBTI). Link https://www.federalregister.gov/documents/2019/12/10/2019-26274/calculation-of-ubti-for-certain-exempt-organizations

2019 Required Amendments List

Document Excerpt This notice sets forth the 2019 Required Amendments List (2019 RA List). Beginning with the 2019 RA List, all Required Amendments Lists (RA Lists) will apply to both individually designed plans qualified under § 401(a) (qualified individually designed plans) and individually designed plans that satisfy the requirements of § 403(b) (§ 403(b) individually […]

IRS Mailing Address for EP Submissions

Document Excerpt Regular U.S. Postal Service mail: Internal Revenue Service P.O. Box 12192 TE/GE Stop 31A Team 105 Covington, KY 41012-0192 Deliveries by private delivery service: Internal Revenue Service 7940 Kentucky Drive TE/GE Stop 31A Team 105 Florence, KY 41042 Link https://www.irs.gov/faqs/retirement-plans/new-mailing-address-for-employee-plans-submissions

Extension of Due Date for Certain Reporting for Providers of Minimum Essential Coverage

Document Excerpt This notice extends the due date for certain 2019 information-reporting requirements under sections 6055 and 6056 of the Internal Revenue Code (Code) from January 31, 2020, to March 2, 2020. This notice also provides relief from section 6721 and 6722 penalties for certain aspects of the 2019 information-reporting requirements under sections 6055 and […]

DOL Guidance

DOL Fall 2019 Regulatory Agenda

Document Excerpt Link https://www.reginfo.gov/public/do/eAgendaMain?operation=OPERATION_GET_AGENCY_RULE_LIST&currentPubId=201910&showStage=active&agencyCd=1200&Image58.x=23&Image58.y=12&csrf_token=DDB366463C37516E9B76BFC4B3E2DF05A1B5FB8C4E84D1769F1B6B25216F18654A14B5F1A117D93EAD8C920CE767FCE44B5E

Advance Copy of Form 5500

Document Excerpt 2019 Form 5500: On November 18, 2019, the U.S. Department of Labor’s Employee Benefits Security Administration (EBSA), the Internal Revenue Service (IRS), and PBGC released advance informational copies of the 2019 Form 5500 Annual Return/Report and related instructions. See EBSA’s News Release for more information, including a summary of key changes. (11/22/2019) Link […]

Transparency in Coverage Proposed Regulations

Document Excerpt SUMMARY: These proposed rules set forth proposed requirements for group health plans and health insurance issuers in the individual and group markets to disclose cost-sharing information upon request, to a participant, beneficiary, or enrollee (or his or her authorized representative), including an estimate of such individual’s cost-sharing liability for covered items or services […]

Fact Sheet on Proposed Electronic Disclosure Safe Harbor

Document Excerpt A plan administrator would be permitted to furnish documents by means of electronic delivery to plan participants and beneficiaries with valid electronic addresses unless they affirmatively opt out of electronic delivery. Link https://www.dol.gov/agencies/ebsa/about-ebsa/our-activities/resource-center/fact-sheets/retirement-plans-electronic-disclosure-safe-harbor-rule

Proposed Electronic Disclosure Safe Harbor

Document Excerpt SUMMARY: The Department of Labor is proposing in this document a new, additional safe harbor for the use of electronic media by employee benefit plans to furnish information to participants and beneficiaries of plans subject to the Employee Retirement Income Security Act of 1974 (ERISA). The proposal, if adopted, would allow plan administrators […]

Whether Employer HSA Contributions Constitute Wages Subject to Garnishment

Document Excerpt For these reasons and based on our understanding of the characteristics of HSAs, employer contributions to HSAs are not earnings as defined by the CCPA. Link https://www.dol.gov/whd/opinion/CCPA/2019/2019_09_10_1_CPPA.pdf

PBGC Guidance

Amendment to Valuation Regulation

Document Excerpt SUMMARY: 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 retirement ages for participants in pension plans undergoing distress or involuntary termination with valuation dates falling in 2020. This table is needed to compute the value of early […]

Notice of Approval of Alternative Arbitration Procedure

Document Excerpt SUMMARY: This notice advises interested persons that the Pension Benefit Guaranty Corporation (PBGC) has approved a request from the American Arbitration Association (AAA) for approval of an alternative arbitration procedure. Link https://s3.amazonaws.com/public-inspection.federalregister.gov/2019-26519.pdf

PBGC Fall Regulatory Agenda

Document Excerpt Link https://www.reginfo.gov/public/do/eAgendaMain?operation=OPERATION_GET_AGENCY_RULE_LIST&currentPubId=201910&showStage=active&agencyCd=1212&Image58.x=45&Image58.y=15&csrf_token=DDB366463C37516E9B76BFC4B3E2DF05A1B5FB8C4E84D1769F1B6B25216F18654A14B5F1A117D93EAD8C920CE767FCE44B5E

Proposed Submission of Information Collections for OMB Review

Document Excerpt SUMMARY: The Pension Benefit Guaranty Corporation (PBGC) intends to request that the Office of Management and Budget (OMB) approve, under the Paperwork Reduction Act, collections of information under PBGC’s regulation on Reportable Events and Certain Other Notification Requirements with modifications. This notice informs the public of PBGC’s intent and solicits public comment on […]

PBGC Announces 2020 Guarntee Limits

Document Excerpt Link https://www.pbgc.gov/wr/benefits/guaranteed-benefits/maximum-guarantee

ERISA Section 4010 Financial Reporting Waiver

Document Excerpt ERISA 4010 Financial Reporting Waiver: To reduce the burden of reporting under PBGC’s 4010 regulation, PBGC is waiving the § 4010.9(b)(2) requirement to report certain financial information separately for each non-exempt member of the filer’s controlled group. See PBGC Technical Update 19-1 for details and conditions. (10/16/2019) Link https://www.pbgc.gov/prac/whatsnew?utm_medium=email&utm_source=govdelivery

Articles, White Papers & Other Information

Proposed Regulations on Hospital Transparency of Standard Charges and Other Changes to Medicare Payment Systems

Document Excerpt SUMMARY: This proposed rule proposes revisions to the Medicare hospital outpatient prospective payment system (OPPS) and the Medicare ambulatory surgical center (ASC) payment system for CY 2020 based on our continuing experience with these systems. In this proposed rule, we describe the proposed changes to the amounts and factors used to determine the […]

Update to Technical /guidance 01-2018: Standards for Self-Insured Non-Federal Governmental Health Plans and Insurance

Document Excerpt Summary of Updates: This Technical Release replaces the technical guidance issued January 11, 2017 with updated notice requirements for self-insured non-Federal governmental health plans and health insurance issuers offering group and individual health coverage using the Department of Health and Human Services (HHS)-administered Federal external review process. Since the January 11, 2017 technical […]

FAQs on HIPAA and Health Plans–Uses and Disclosures for Care Coordination and Continuity of Care

Document Excerpt Link https://www.hhs.gov/hipaa/for-professionals/faq/3014/uses-and-disclosures-for-care-coordination-and-continuity-of-care/index.html

Proposed Revised ACA Nondiscrimination Regulations

Document Excerpt SUMMARY: The Department of Health and Human Services (“the Department”) is committed to ensuring the civil rights of all individuals who access or seek to access health programs or activities of covered entities under Section 1557 of the Patient Protection and Affordable Care Act. The Department proposes to revise its Section 1557 regulation […]

SEC Interpretation of “Solely Incidental” Prong Exclusion for Broker-Dealers

Document Excerpt Link https://www.sec.gov/rules/interp/2019/ia-5249.pdf

SEC Interpretation of Standard of Care of Investment Advisers under Investment Advisers Act

Document Excerpt SUMMARY: The Securities and Exchange Commission (the “SEC” or the “Commission”) is publishing an interpretation of the standard of conduct for investment advisers under the Investment Advisers Act of 1940 (the “Advisers Act” or the “Act”). Link https://www.sec.gov/rules/interp/2019/ia-5248.pdf

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