PBGC Assumes Circuit City Plan

The PBGC has assumed the trusteeship of the Circuit City Pension Plans in light of the company’s impending liquidation.

White House Memorandum on Preemption

The White House issues Memorandum to Department Heads on dealing with preemption issues.

Options Under Consideration for Paying for Health Care

A number of options are currently being considered by the Senate to pay for the cost of health care reform including doing away with or limiting the exclusion for employer-provided coverage.

COBRA Premium Reduction Denial Review Form Published

The DOL has posted on its website an Application for Review of Denial of COBRA Premium.

Investment Advice Guidance Delayed Further

The DOL further delays the effective date of its fiduciary advisor final rules until November 18.

Guidance on Treatment of Employer-Owned Life Insurance

The IRS issues Notice 2009-48 providing guidance on the treatment of employer-owned life insurance under Sections 101(j) and 6039i in Q & A form.

IRS Retirement News for Employers Discussing New Proposed Safe Harbor Regulations

The IRS’ new Retirement News for Employers discussing its new proposed regulations that would allow the reduction or suspension of safe harbor nonelective contributions.

Acting Director will report a PBGC Mid-Year Deficit of 33.5 Billion

Acting Director Snowbarger will report that the PBGC deficit has climbed to 33.5 billion mid-year.

Supreme Court Rules on Pre-1978 Maternity Leave for Service Credit

Supreme Court rules on pre-1978 pregnancy leave as service credit. The Court rules that women who took maternity leave prior to the 1978 Pregnancy Discrimination Act could not sue to have their leave count towards pension service.

Proposed Amendments to Allow Suspension or Reduction of Nonelective Contributions

The IRS has issued proposed amendments to the safe harbor regulations that would allow the suspension or reduction of safe harbor nonelective contributions under certain circumstances.

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