Fact Sheet on the Definition of the Term “Fiduciary”

As it contemplates changes in the definition, the DOL has released a Fact Sheet on the definition of the term “Fiduciary.” Document Excerpt The Employee Retirement Income Security Act (ERISA) requires plan fiduciaries to act prudently and solely in the interest of the plan’s participants and beneficiaries, prohibits self-dealing, and provides judicial remedies when violations […]

First Annual Report on Self Insured Health Plans

The DOL’s first annual report on self-insured health plans as required by Congress is now available. Document Excerpt The Patient Protection and Affordable Care Act (the “Affordable Care Act”) (P. L. 111-148, as amended) requires the Secretary of Labor to provide Congress with an annual report containing general information on self-insured employee health benefit plans […]

Interim Guidance on Reporting Cost of Employer Provided Health Coverage

The IRS has released interim guidance on the requirements for reporting the cost of employer-provided health coverage. Document Excerpt This notice provides interim guidance on informational reporting to employees of the cost of their employer-sponsored group health plan coverage. This informational reporting is required under ยง 6051(a)(14) of the Code, enacted as part of the […]

Updated Information Posted Regarding Delinquent Filer Program

The DOL post updated information to its website regarding its Delinquent Filer Voluntary Compliance Program including updated submission information.

April Immediate Interest Rate

The PBGC has released the April immediate interest rate for lump sum payments.

March Edition of Employee Plans News

The March edition of the IRS’ Employee Plans News includes a discussion of the new Preparer Tax Identification Number requirements.

Extension of Nonenforcement Period for Certain Internal Claims

Technical Release No. 2011-01 provides an extension of the non-enforcement period relating to certain interim procedures for internal claims and appeals under the Affordable Care Act.

Proposed Rule on Shutdown Benefits

The PBGC issues a proposed rule to amend its regulation on Benefits Payable in Terminated Single-Employer Plans.

Correction to User Fee Schedule

Announcement 2011-8 contains a correction to the new IRS user fee schedule.

Discussion of Grandfathered Plan Status by Charles C. Shulman, Esq.

A discussion of the regulations issued in June of 2010 and amended in Nov. 17, 2010 containing rules for determining if the health plan coverage is grandfathered.

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