Benefits Forward

The DOL issues an Intepretive Bulletin setting forth its views on the legal standards imposed on fiduciaries when considering investing plan assets in economically targeted investments.

Agencies with jurisdiction under the Newborns’ and Mothers’ Health Protection Act of 1996 have jointly issued a final regulation dealing with the lengths of hospital stays for mothers and newborns covered under group health plans and health insurance.

IRS announces pension plan increases for 2009.

IRS released today Notice 2008-94 providing guidance on certain executive compensation provisions of the Economic Stablization Act of 2008.

Treasury announces the development of executive compensation and corporate governance standards applicable to those firms participating in one of the three programs under the Economic Stabilization Act.

Michelle’s Law, signed into law by President Bush on October 9, 2008, is designed to address the problem that results when a dependent student must leave or cut back on school due to medical issues. Becoming less than a full-time student often triggers loss of dependent coverage allowing perhaps only COBRA.

Under this extension, the 2007 final regulations will be effective for a governmental plan for plan years beginning on or after January 1, 2011. The extension does not apply to nongovernmental plans.

The IRS releases update mortality tables to be used for funding purposes for valuation dates occurring during calendar years 2009 through 2013.

The IRS has released an update of the corporate bond weighted average interest rate and permissible range of interest rates specified under section 412(b)(5)(B)(ii)(II) of the Code as in effect for plan years beginning before 2008.

The Emergency Ecoomic Stabilization Act of 2008 providing for the Federal government’s purchase of certain troubled assets from financial institutions also imposes restrictions on the payment of executive compenstion and bonuses from such institutions.