IRS Roth Conversion Presentation

The IRS releases its 2010 Roth conversion power point slides.

Updated Guidance to Reflect Increase in Adoption Credit under Affordable Care

Revenue Procedure 2010-35 modifies and supersedes prior guidance to reflect the amendments made by the Affordable Care Act to the adoption credit and the exclusion for adoption assistance programs.

Update on Rules For Per Diem Substantiation

Revenue Procedure 2010-39 updates prior guidance providing rules for employees who are reimbursed for lodging, meals and incidental expenses or meals and incidential expenses only, while traveling away from hom to substantiate the expenses by per diem allowance rather than actual expense.

The Small Business Job Act of 2010

The bill, as approved by the Senate, would allow in-plan conversions of distributable amounts to a Roth account and would also allow Section 457(b) arrangments of a governmental entity to maintain Roth accounts.

Revised Model Notice of Adverse Benefit Determination

The DOL has issued a revised model Notice of Adverse Benefit Determination.

FAQs Clarify IRO Contracting Requirement

The FAQ at Q & 9 clarifies that the plan itself is not necessarily required to contract directly with three IROs to satisfy the external claims review requirement, but may, instead, access such IROs through contracting with its third party administrator.

Claims Enforcement Grace Period

Technical Release 2010-02 provides an enforcement grace period to July 1, 2011 in order to give plans more time to prepare to comply with certain provisions of the new claims requirements of the Affordable Care Act.

Comments Invited on Extension of Section 105(h)

The IRS is soliciting comments on the extension of the nondiscrimination rules of Section 105(h) to insured plans as required by the Affordable Care Act.

Joint Hearing on Lifetime Income Options

Written testimony from the joint hearing on the inclusion of lifetime income options in defined contribution plans is now available at the DOL’s website.

FAQs on Genetic Information Nondiscrimination Act

The DOL’s website now contains a Frequently Asked Questions sheet on the Genetic Information Nondiscrimination Act.

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