Benefits Forward

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

IRS issues correcting amendments to the final Section 409A regulations.

The IRS issues proposed regulations reflecting both the expanded notice/election period (from 90 to 180) which plans may adopt as well as the requirements to notify participants of the consequences of failing to defer distribution.

The DOL issues an amended Prohibited Transaction Exemption regarding the provision of services by a Qualified Termination Administrator to an abandoned or orphaned plan.

The DOL has finalized amendments to Interpretive Bulletin 95-1 reflecting the PPA requirement that the Bulletin not apply to purchases of annuities under a defined contribution plan.

In response to guidance issued under the Pension Protection Act, the DOL has now finalized regulations establishing a safe harbor for the selection of annuity providers with respect to individual account plans.

DOL issues final rule on PPA provided cross-trading exemption.

Final rules amend both the regulations governing the termination of abandoned plans by Qualified Termination Administrators and the regulation establishing a procedure for financial institutions holding the assets of abandoned plans to include rules for missing nonspouse beneficiaries.

The DOL concludes that a proposed arrangement whereby the Bend, Oregon Chamber of Commerce would establish and offer to its employer members health coverage would constitute a MEWA eligible for state regulation.

IRS issues guidance on qualified reservist distributions under an FSA pursuant to the HEART Act.