August Lump Sum Payments

The PBGC announces the interest rates for lump sum payments in August. Document Excerpt The immediate interest rate for valuing lump sum payments for the month of August 2011 is 2.25%. The deferred interest rate I1 is 4.00%, I2 is 4.00%, and I3 is 4.00%. (The immediate interest rate for July 2011 was 2.25% for […]

PBGC Participant Disclosure Rule Removed

The regulation was made obsolete by provisions of the Pension Protection Act of 2006. Document Excerpt This final rule removes PBGC’s regulation on Disclosure to Participants. The regulation is obsolete as a result of the Pension Protection Act of 2006.   Link http://www.gpo.gov/fdsys/pkg/FR-2011-07-29/pdf/2011-19182.pdf

Correcting Amendment to Claims Regulations

The agencies have released the text of the correcting amendment to the internal review and appeal and external review claims regulations. Document Excerpt Link http://www.gpo.gov/fdsys/pkg/FR-2011-07-26/pdf/2011-18820.pdf

FAQs on ERISA Advisory Council

After publishing a notice for nominations for membership to the 2012 Advisory Council, the DOL has also published a FAQ  providing additional information for those who might be interested. Document Excerpt Link http://www.dol.gov/ebsa/pdf/potentialcouncilcandidatesfaq.pdf

Nominations for 2012 ERISA Advisory Council

The DOL has posted a notice for nominations for the 2012 ERISA Advisory Council. Documents Excerpt Section 512 of the Employee Retirement Income Security Act of 1974 (ERISA), 88 Stat. 895, 29 U.S.C. 1142, provides for the establishment of an Advisory Council on Employee Welfare and Pension Benefit Plans (the Council), which is to consist […]

IRS Power Point for Employee Benefits Ethics Presentation

The IRS releases handout for upcoming Employee Benefits practitioners ethics presentation. Document Excerpt Link http://www.irs.gov/pub/irs-tege/ethics_phoneforum_presentation.pdf

Regulations Governing Exchanges

HHS has issued regulations governing the establishment of Exchanges required under the Affordable Care Act. Document Excerpt This proposed rule would implement the new Affordable Insurance Exchanges     (“Exchanges”), consistent with title I of the Patient Protection and Affordable Care Act of 2010 (P.L. 111-148) as amended by the Health Care and Education Reconciliation […]

PBGC Final Rule on Interest Rate Assumptions for August in Terminating Plans

The PBGC issues a final rule regarding the payment of benefits under plans with valuation dates during August 2011. Document Excerpt SUMMARY This final rule amends the Pension Benefit Guaranty Corporation’s regulation on Benefits Payable in Terminated Single-Employer Plans to prescribe interest assumptions under the regulation for valuation dates in August 2011. The interest assumptions […]

Final Rule Extending Applicability Dates for Disclosure

The DOL has issued a final rule extending the applicability date of the service provider disclosure rule and revising the transition rule of the participant-disclosure regulations.] Document Excerpt SUMMARY: This document extends specified applicability dates of the Department’s interim final rule concerning fiduciary-level fee disclosure (29 CFR 2550.408b-2(c), and final rule concerning participant-level fee disclosure […]

Corporate Bond Rates

Notice 2011-59 provides guidance as to the corporate bond weighted average interest rate and the permissible range of interest rates as in effect for plan years beginning before 2008. Document Excerpt This notice provides guidance as to the corporate bond weighted average interest rate and the permissible range of interest rates specified under § 412(b)(5)(B)(ii)(II) […]

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