Benefits Forward

Notice 2009-27 provides additional guidance on the COBRA subsidy resulting from the enactment of the American Recovery and Reinvestment Act.

PBGC issues monthly interest rate update for valuing lump sums.

The IRS issues Revenue Procedure 2009-21 reflecting certain temporary increases in amounts under various Code sections including for purposes of the qualifying transportation fringe benefit.

The IRS issues guidance on the elections by multiemployer defined benefit plans under Sections 204 and 205 of WRERA.

Attorney Phyllis Borzi has been nominated by President Obama to serve as the Assistant Secretary of Labor for Employee Benefits Security Administration.

The DOL announces the publication of model COBRA notices required as a result of the enactment of the American Recovery and Reinvestment Act of 2009.

The Spring edition of the IRS Employee Plans News includes a discussion of dealing with nonamender issues, the new final automatic contribution arrangement regulations as well as a recognition of the posting of sample ESOP provisions dealing with the nonallocation provisions.

In the face of much Congressional criticism regarding the substance of the regulations, the DOL has delayed the effective date of its Investment Advice regulations until May 22, 2009.

The PBGC has updated its website to reflect the new final regulations governing filing under Section 4010.

Notice 2009-22 provides guidance on the asset valuation methods permitted to be used for funding purposes resulting from the enactment of the Worker, Retiree and Employer Recovery Act of 2008.