Benefits Forward

Proposed regulations clarify that amounts paid to a member of an Indian tribe as remuneration for fishing-rights activity may be compensation for retirement plan purposes. Document Excerpt This document contains proposed regulations that would clarify that amounts paid to an Indian tribe member as remuneration for services performed in a fishing rights-related activity may be [...]

Any entity with an EIN, including a retirement plan, must, starting January 1, 2014, use Form 8822 B to report a change in the identity of its responsible party. Document Excerpt  For retirement plans, “responsible party” is the person who has a level of control, directly or indirectly, over the funds or assets in the [...]

The IRS has finalized regulations on suspending or reducing Section 401(k) safe harbor contributions. Document Excerpt This document contains amendments to regulations relating to certain cash or deferred arrangements under section 401(k) and matching contributions and employee contributions under section 401(m). These regulations provide guidance on permitted mid-year reductions or suspensions of safe harbor nonelective [...]

The IRS has released the dollar limits for various retirement plan amounts for 2014 taking into consideration cost of living increases. Document Excerpt The Internal Revenue Code provides for dollar limitations on benefits and contributions under qualified retirement plans. IRC Section 415 requires the limits to be adjusted annually for cost-of-living increases. The IRS announced [...]

Notice 2013-71 contains a modification of the “use-it-or-lose-it” rule applicable to flexible spending accounts. Document Excerpt  This notice contains modifications to the rules for § 125 cafeteria plans. First, sections II through V of the notice modify the “use-or-lose” rule for health FSAs that is currently set forth in proposed regulations under § 125 of [...]

The IRS released updated weighted average interest rates. Document Excerpt  This notice provides guidance on the corporate bond monthly yield curve (and the corresponding spot segment rates), and the 24-month average segment rates under § 430(h)(2) of the Internal Revenue Code. In addition, this notice provides guidance as to the interest rate on 30-year Treasury [...]

The DOL has released advanced copies of the 2013 5500 and related instructions. Document Excerpt The U.S. Department of Labor’s Employee Benefits Security Administration, the Internal Revenue Service, and the Pension Benefit Guaranty Corporation today released advance informational copies of the 2013 Form 5500 annual return/report and related instructions.  Modifications to the Form 5500 and [...]

HHS announces that enrollment in the online SHOP marketplace is delayed until November, 2014. HHS is instead providing for “direct enrollment” with carriers. Document Excerpt For small businesses in states with a SHOP Marketplace that’s run by the federal government, we are making changes to make sure that you can take advantage of SHOP coverage [...]

HHS issues Frequently Asked Questions on how small employers can enroll employees at SHOPs managed by the Federal government. Document Excerpt  Now there’s a quick and simple way to do this, that’s already familiar to many small employers: You can handle the whole process—applying, shopping and enrolling by—contacting an agent, broker, or an insurance company [...]

The White House has announced an Administration fix to deal with the individuals and small businesses receiving cancellation notices of their health insurance policies that do not satisfy the requirements of the Affordable Care Act. Document Excerpt Allow insurers to renew their current policies for current enrollees without adopting the 2014 market rule changes.  This [...]

The agencies release Frequently Asked Questions about the Affordable Care Act Implementation Part XVII addressing issues regarding the Mental Health Parity Act. Document Excerpt Set out below are additional Frequently Asked Questions (FAQs) regarding implementation of the Paul Wellstone and Pete Domenici Mental Health Parity and Addiction Equity Act of 2008 (MHPAEA), as amended by [...]

The Departments of the Treasury, IRS, Labor and HHS have released final rules under the Paul Wellstone and Pete Domenici Mental Health Parity and Addiction Equity Act of 2008. Document Excerpt This document contains final rules implementing the Paul Wellstone and Pete Domenici Mental Health Parity and Addiction Equity Act of 2008, which requires parity [...]

The PBGC releases its semi-annual Fall 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

The PBGC releases the interest rate for lump sums in December. Document Excerpt The immediate interest rate for valuing lump sum payments for the month of December 2013 is 1.75% and the deferred interest rate I1 is 4.00%, I2 is 4.00%, and I3 is 4.00%. (The immediate interest rate for November 2013 was 1.75% for [...]

Technical Update 07-4 provides guidance on determining the PBGC maximum guaranteed benefit for purposes of IRC Section 436(d). Document Excerpt This Technical Update provides guidance on determining the present value of the maximum benefit guaranteed by the Pension Benefit Guaranty Corporation (PBGC) for purposes of section 436(d)(3)(A)(ii) of the Internal Revenue Code (IRC) and section [...]

The PBGC has announced the maximum guaranteed benefits for covered plans starting in 2014. Document Excerpt On November 6, 2013, PBGC updated the Maximum Guarantee Limit Table for 2014. The maximum guaranteeable age 65 single life annuity benefit for 2014 is $4,943.18 per month (as compared with $4,789.77 for 2013). (11/06/13) Link http://www.pbgc.gov/prac/whatsnew.html?cid=CPAD01AENOV0620132&source=govdelivery&utm_medium=email&utm_source=govdelivery

The PBGC releases the interest rates for lump sum payments in November. Document Excerpt PBGC has determined that the immediate interest rate for valuing lump sum payments for the month of November 2013 is 1.75% and the deferred interest rate I1 is 4.00%, I2 is 4.00%, and I3 is 4.00%. (The immediate interest rate for [...]

The PBGC has released interest rates for lump sum payments in October. Document Excerpt The immediate interest rate for valuing lump sum payments for the month of October 2013 is 1.75%. The deferred interest rate I1 is 4.00%, I2 is 4.00%, and I3 is 4.00%. (The immediate interest rate for September 2013 was 1.50% for [...]

HHS announces that enrollment in the online SHOP marketplace is delayed until November, 2014. HHS is instead providing for “direct enrollment” with carriers. Document Excerpt For small businesses in states with a SHOP Marketplace that’s run by the federal government, we are making changes to make sure that you can take advantage of SHOP coverage [...]

HHS issues Frequently Asked Questions on how small employers can enroll employees at SHOPs managed by the Federal government. Document Excerpt  Now there’s a quick and simple way to do this, that’s already familiar to many small employers: You can handle the whole process—applying, shopping and enrolling by—contacting an agent, broker, or an insurance company [...]

The White House has announced an Administration fix to deal with the individuals and small businesses receiving cancellation notices of their health insurance policies that do not satisfy the requirements of the Affordable Care Act. Document Excerpt Allow insurers to renew their current policies for current enrollees without adopting the 2014 market rule changes.  This [...]

HHS releases a report on premiums in the health Exchanges. Document Excerpt This report summarizes the health plan choices and premiums that will be available in the Health Insurance Marketplace. It contains new information, current as of September 18, 2013, on qualified health plans in the 36 states in which the Department of Health and [...]

HHS issues its first guidance on implementing the Supreme Court’s decision in Windsor. Document Excerpt Today, the Department of Health and Human Services (HHS) issued a memo clarifying that all beneficiaries in private Medicare plans have access to equal coverage when it comes to care in a nursing home where their spouse lives.  This is [...]

The Centers for Medicare & Medicaid Services issues final rule outlining Exchange standards with respect to eligibility appeals, handling of consumeer complaints and other issues. Document Excerpt This final rule implements provisions of the Patient Protection and Affordable Care Act and the Health Care and Education Reconciliation Act of 2010 (collectively referred to as the [...]