Benefits Forward

August Edition of the Employee Plans News includes a discussion of correction for plans that failed to be timely amended for EGTRRA.

The U.S. Chamber of Commerce comments on the interim final regulations governing what constitutes a grandfathered plan for purposes of the Affordable Care Act.

Recent guidance – some proposed and some final – relate to 401(k) plan fee disclosure and investment advice, as described in detail in my memo linked below: Service provider disclosure on Form 5500 Schedule C is now required for both direct and indirect compensation.  This became effective with the 5500s for the 2009 plan years. [...]

The PBGC issues Technical Update 10-3 which provides guidance on simplified methods for the application of the requirement under the PPA that a multiemployer plan in critical status disregard certain benefit reductions in determining the plan’s unfunded vested benefits for purposes of determining withdrawal liability.

The IRS releases the Power Point presentation it will use in its upcoming presentation on plan corrections under EPCRS.

The PBGC has announced disaster relief for parts of Texas affected by hurricane Alex.

The PBGC announces disaster relief for parts of Kentucky affected by mudslides, severe storms and flooding.

Notice 2010-57 provides guidance as to the corporate bond weighted average interest rate and the permissible range under Section 412(b)(5)(B)(ii)(II).

The EBSA is soliciting nominations for vacancies on the Advisory Councils on welfare and pension plans.

After forwarding to the OMB, the DOL has announced that it is withdrawing its proposed regulations setting forth the definition of welfare plan.