Today's Update

IRS Guidance

Guidance for Employers and Employees when Participants don’t cash Distribution Checks

Document Excerpt (1) Individual A’s failure to cash the distribution check she received in 2019 does not permit her to exclude the amount of the designated distribution from her gross income in that year under § 402(a). (2) Individual A’s failure to cash the distribution check she received does not alter Employer M’s obligations with […]

Indexed Section 36B Amounts

Document Excerpt This revenue procedure provides indexing adjustments for certain provisions under § 36B of the Internal Revenue Code. In particular, it updates the applicable percentage table in § 36B(b)(3)(A)(i) (Applicable Percentage Table) to provide the Applicable Percentage Table for calendar year 2020. This table is used to calculate an individual’s premium tax credit. Link […]

Additional Preventive Services Permitted by High Deductible Health Plans

Document Excerpt This notice expands the list of preventive care benefits permitted to be provided by a high deductible health plan (HDHP) under section 223(c)(2) of the Internal Revenue Code (Code) without a deductible, or with a deductible below the applicable minimum deductible (self-only or family) for an HDHP. Link https://www.irs.gov/pub/irs-drop/n-19-45.pdf

Multiple Employer Plans Proposed Regulations

Document Excerpt SUMMARY: This document sets forth proposed regulations relating to the tax qualification of plans maintained by more than one employer. These plans, maintained pursuant to section 413(c) of the Internal Revenue Code (Code), are often referred to as multiple employer plans or MEPs. The proposed regulations would provide an exception, if certain requirements […]

Proposed Regulations on Withholding on Periodic and Non-periodic Payments

Document Excerpt This document contains a proposed regulation regarding withholding on certain periodic and nonperiodic distributions under section 3405, other than eligible rollover distributions. This regulation would affect payors and payees of these distributions. Link https://www.federalregister.gov/documents/2019/05/31/2019-11292/withholding-on-certain-distributions-under-section-3405a-and-b

Inflation Adjusted HSA Limits for 2020

Document Excerpt This revenue procedure provides the 2020 inflation adjusted amounts for Health Savings Accounts (HSAs) as determined under § 223 of the Internal Revenue Code. Link https://www.irs.gov/irb/2019-22_IRB#REV-PROC-2019-25

DOL Guidance

DOL Fact Sheet on USERRA

Document Excerpt The following frequently asked questions provide general information concerning the application of USERRA to employers that pay pension benefits as a percentage of total earnings of employees. Link https://www.dol.gov/agencies/vets/programs/userra/userra_fs1

Field Assistance Bulletin 2019-01

Document Excerpt This Field Assistance Bulletin provides guidance and temporary penalty relief related to certain Form 5500 Annual Return/Report requirements for multiple employer plans (MEPs) subject to Title I of the Employee Retirement Income Security Act of 1974, as amended (ERISA). In particular, MEPs have a statutory obligation under section 103(g) of ERISA to file […]

Retirement Clearing House Prohibited Transaction Exemption

Document Excerpt This document contains a notice of a five-year exemption issued by the Department of Labor (the Department) from the restrictions of the Internal Revenue Code of 1986, as amended (the Code). The exemption permits RCH to receive certain fees in connection with the transfer under the RCH Program, of an individual’s Default IRA […]

Request for Information on Open MEPs

Document Excerpt SUMMARY: This document is a request for information regarding the definition of “employer” in section 3(5) of the Employee Retirement Income Security Act of 1974, as amended (ERISA). The document mainly seeks comments on whether to amend our regulations to facilitate the sponsorship of “open MEPs” by persons acting indirectly in the interests […]

Final Regulations on Definition of Employer under ERISA Section 3(5)

Document Excerpt SUMMARY: This document contains a final regulation under title I of the Employee Retirement Income Security Act (ERISA) that expands access to affordable quality retirement saving options by clarifying the circumstances under which an employer group or association or a professional employer organization (PEO) may sponsor a multiple employer workplace retirement plan under […]

DOL Reporting Requirements for Multiple Employer Plans Subject to ERISA Section 103(g)

Document Excerpt This Field Assistance Bulletin provides guidance and temporary penalty relief related to certain Form 5500 Annual Return/Report requirements for multiple employer plans (MEPs) subject to Title I of the Employee Retirement Income Security Act of 1974, as amended (ERISA). In particular, MEPs have a statutory obligation under section 103(g) of ERISA to file […]

PBGC Guidance

PBGC Annual Projections Report

Document Excerpt The Pension Benefit Guaranty Corporation (PBGC) insures pension participants against loss of some or all of their pension benefit when a private sector pension plan fails. PBGC operates two separate insurance programs, one for Single-Employer and one for Multiemployer defined benefit pension plans. The amount of benefits guaranteed, the point at which the […]

PBGC Request for OMB Approval of New Cessation of Operations Reporting Form

Document Excerpt The Pension Benefit Guaranty Corporation (PBGC) is requesting that the Office of Management and Budget (OMB) approve, under the Paperwork Reduction Act, a collection of information that is necessary to fulfill various reporting obligations following a cessation of operations at a facility. Link https://www.federalregister.gov/documents/2019/07/25/2019-15763/submission-of-information-collection-for-omb-review-comment-request-notices-under-section-4062e-of

PBGC Clarifies Merger and Transfer Among Multiemployer Plan Guidance

Document Excerpt SUMMARY: PBGC is issuing a final rule amending its regulation on Mergers and Transfers Between Multiemployer Plans to implement procedures and information requirements for a request for a facilitated merger. This final rule also reorganizes and updates provisions in the existing regulation. Link https://www.govinfo.gov/content/pkg/FR-2018-09-14/pdf/2018-19988.pdf

PBGC Adds Webpage to Publish Participant Notices

Document Excerpt At times, PBGC places ads in local and national newspapers to inform participants that the agency is taking responsibility for their plan. When this happens, PBGC pays all earned benefits up to the limits set by law. PBGC takes this action when the plan doesn’t have enough money to pay all promised benefits […]

PBGC Interim Privacy Rule

Document Excerpt SUMMARY: The Pension Benefit Guaranty Corporation is amending its Privacy Act regulation to exempt a system of records that supports a program of insider threat detection and data loss prevention. Link https://www.federalregister.gov/documents/2019/07/09/2019-14604/privacy-act-regulation-exemption-for-insider-threat-program-records

Proposed Rule to Miscellaneous Corrections, Clarifications of Regulations

Document Excerpt SUMMARY: The Pension Benefit Guaranty Corporation (PBGC) is making miscellaneous technical corrections, clarifications, and improvements to its regulations on Reportable Events and Certain Other Notification Requirements, Annual Financial and Actuarial Information Reporting, Termination of Single-Employer Plans, and Premium Rates. These changes are a result of PBGC’s ongoing retrospective review of the effectiveness and […]

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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