Benefits Forward

Document Excerpt This revenue procedure provides the monthly national average premium for qualified health plans that have a bronze level of coverage and are offered through Exchanges for taxpayers to use in determining their maximum individual shared responsibility payment under § 5000A(c)(1)(B) of the Internal Revenue Code and § 1.5000A-4 of the Income Tax Regulations. […]

Document Excerpt This revenue procedure modifies Rev. Proc. 2017-41, 2017-29 I.R.B. 92, to extend the deadline for submitting on-cycle applications for opinion letters for pre-approved defined contribution plans for the third six-year remedial amendment cycle to December 31, 2018. Under Rev. Proc. 2017-41, this submission period is scheduled to expire on October 1, 2018. Link […]

The recommendations include suggestions for how the IRS might open a more limited Determination Letter program including a limited scope program. Document Excerpt Link https://www.irs.gov/pub/irs-pdf/p4344.pdf

The Employee Plans Compliance Unit reports on its Party-In-Interest transaction. Document Excerpt The project goals were to determine whether filed Forms 5500 contained correctly reported non-exempt party-in-interest transactions and whether the related Schedules G and/or Forms 5330 were accurately prepared and timely filed when required. The project selected returns with large reported non-exempt transactions, representing […]

The Employee Plans Compliance Unit’s Non-Cash Contributions project involved reviewing plans that reported non-cash contribution amounts on Form 5500. Document Excerpt The project reviewed plans that reported non-cash contribution amounts on Schedule H or Schedule I to determine whether there were non-cash contributions and, if so, whether the contributions were allowable. The EPCU selected Forms […]

Included are the following: Treatment of 415(c) Dollar Limitations in a Short Limitation Year Treatment of 401(a)(17) Limitation in Defined Contribution Plan in a Short Plan Year Borrowing Limits for Participants with Multiple Plan Loans Qualification Requirements for Non-Electing Church Plans under IRC Section 401(a) Vesting Schedules for Matching Contributions Plan Forfeitures Used for Qualified […]

Document Excerpt This rule proposes to adopt the risk adjustment methodology that HHS previously established for the 2018 benefit year. In February 2018, a district court vacated the use of statewide average premium in the HHS-operated risk adjustment methodology for the 2014 through 2018 benefit years. HHS is proposing to adopt the HHS-operated risk adjustment […]

Document Excerpt This final rule amends the definition of short-term, limited-duration insurance for purposes of its exclusion from the definition of individual health insurance coverage. This action is being taken to lengthen the maximum duration of short-term, limited-duration insurance, which will provide more affordable consumer choices for health coverage. Link https://www.federalregister.gov/documents/2018/08/03/2018-16568/short-term-limited-duration-insurance

The Trump Administration’s reform to allow small businesses to purchase association health plans thereby avoiding many of the rules crafted to apply to small business health insurance. Document Excerpt This document contains a final regulation under Title I of the Employee Retirement Income Security Act (ERISA) that establishes additional criteria under ERISA section 3(5) for […]

The EBSA has asked the 2018 ERISA Advisory Council to evaluate the effectiveness of existing guidance governing bonding requirements. Document Excerpt The Employee Benefits Security Administration (the “Department”) has asked the Council to evaluate the effectiveness of the Department’s regulations and sub-regulatory guidance promulgated under section 412 of ERISA in safeguarding plan funds or other […]

DOL releases its annual report to Congress on self-insured group health plans. Document Excerpt Link https://www.dol.gov/sites/default/files/ebsa/researchers/statistics/retirement-bulletins/annual-report-on-self-insured-group-health-plans-2018.pdf

The DOL has released its Spring 2018 Priority Guidance List. Document Excerpt Link https://www.reginfo.gov/public/do/eAgendaMain?operation=OPERATION_GET_AGENCY_RULE_LIST&currentPub=true&agencyCode=&showStage=active&agencyCd=1200&Image58.x=41&Image58.y=15

Document Excerpt The interpretations presented below reflect the views of the staff of PBGC. They are not rules, regulations, or statements of the Corporation. These positions do not necessarily contain a discussion of all material considerations necessary to reach the conclusions stated, and they are not binding due to their informal nature. Accordingly, these responses […]

Document Excerpt The Pension Benefit Guaranty Corporation (PBGC) was established by the Employee Retirement Income Security Act of 1974 (ERISA) to ensure that participants in defined benefit pension plans receive their pensions if their plans terminate without sufficient assets to pay promised benefits. The PBGC administers separate insurance programs to protect participants in Single-Employer and […]

Document Excerpt The Pension Benefit Guaranty Corporation proposes to amend its multiemployer reporting, disclosure, and valuation regulations to reduce the number of actuarial valuations required for smaller plans terminated by mass withdrawal, add a valuation filing requirement and a withdrawal liability reporting requirement for certain terminated plans and insolvent plans, remove certain insolvency notice and […]

From now one, relief will be more closely tied to IRS relief. Document Excerpt The Pension Benefit Guaranty Corporation (PBGC) is changing how it announces relief from filing deadlines and penalties when a disaster occurs. Under an Announcement made today, PBGC’s disaster relief will be available at the same time the Internal Revenue Service issues […]

The PBGC announces disaster relief for parts of Hawaii impacted by the recent volcano activity. Document Excerpt The Pension Benefit Guaranty Corporation (“PBGC”) is waiving certain penalties and extending certain deadlines in response to volcanic eruptions and earthquakes that began on May 3, 2018, in Hawaii. Link https://www.pbgc.gov/prac/other-guidance/dr/dr18-06

The PBGC releases its Fiscal Year 2017 projections report. Document Excerpt This year’s projections for PBGC’s Multiemployer Program show a very high likelihood of insolvency during FY 2025 and near certainty of insolvency by the end of FY 2026. Compared to last year’s projections, the risk of insolvency decreases slightly prior to fiscal year 2024 […]

Document Excerpt This rule proposes to adopt the risk adjustment methodology that HHS previously established for the 2018 benefit year. In February 2018, a district court vacated the use of statewide average premium in the HHS-operated risk adjustment methodology for the 2014 through 2018 benefit years. HHS is proposing to adopt the HHS-operated risk adjustment […]

Document Excerpt This final rule adopts the risk adjustment methodology that HHS previously established for the 2017 benefit year. Section 1343 of the Patient Protection and Affordable Care Act (PPACA) established a permanent annual risk adjustment program under which payments are collected from health insurance issuers that enroll relatively low-risk populations, and payments are made […]

So holds the Supreme Court in Wisconsin Central Ltd. v. U.S., No. 17-530 (S. Ct. June 21, 2018). Document Excerpt Held: Employee stock options are not taxable “compensation” under the Railroad Retirement Tax Act because they are not “money remuneration.” When Link https://www.supremecourt.gov/opinions/17pdf/17-530_6537.pdf

In a filing before a district court, the DOL signals it will not defend key parts of the Affordable Care Act stating that once the Tax Cuts and Jobs Act zeros out the individual mandate penalty, the individual mandate, guaranteed issue and community ratings provisions become unconstitutional. Document Excerpt In sum, once the associated financial […]

House Subcommittee seeks bipartisan proposals to update ERISA including encouraging defined contribution plans to provide annuities, eliminating the “common nexus” requirement for private multiple employer plans and other changes. Document Excerpt Subcommittee members and witnesses discussed four bipartisan proposals that would amend ERISA to better meet the retirement plan needs of employees and employers with […]

HHS releases a publication discussing the Administration’s proposal to lower drug prices. Document Excerpt Link https://www.hhs.gov/sites/default/files/AmericanPatientsFirst.pdf