PBGC Letter to American Airlines’ Employees

In response to communications from American Airlines to its employees regarding concerns in the event it should terminate its pension plan, the PBGC has written its own communication and analysis. Document Excerpt WASHINGTON—The Pension Benefit Guaranty Corporation today pushed back on misleading statements to American Airlines employees by its management about their pension plans. Link […]

Fall Regulatory Agenda

The Office of Management and Budget releases the DOL Fall 2011 regulatory agenda and rule status report. Document Excerpt Link http://www.reginfo.gov/public/do/eAgendaMain?operation=OPERATION_GET_AGENCY_RULE_LIST&currentPub=true&agencyCd=1200&Image58.x=54&Image58.y=13&Image58=Submit

Corporate Bond Interest Rates

Notice 2012-10 provides guidance as to the corporate bond weighted interest rate and the permissible range 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) of the Internal Revenue Code […]

Amicus Brief Filed by States in Favor Of Individual Mandate

Several states have filed an amicus brief with the Supreme Court supporting the individual mandate of the Affordable Care Act. Document Excerpt Does Congress have the power, under Article I of the Constitution, to enact the minimum-coverage provision of the Patient Protection and Affordable Care Act, 26 U.S.C. § 5000A, which requires nonexempt individuals to […]

HHS Final Rule on Reporting Retiree-Plan Drug Costs

HHS has published a final rule implementing provisions regarding the reporting of gross covered retiree plan related prescription drug costs and retained rebates by Retiree Drug Subsidy sponsors. Document Excerpt This final rule implements and finalizes provisions regarding the reporting of gross covered retiree planrelated prescription drug costs (gross retiree costs) and retained rebates by […]

February Interest Rates On Termination

The PBGC has revised its rules to reflect the interest rate to be used in paying benefits from a terminated plan in February, 2012. Document Excerpt 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 February […]

Corporate Bond Weighted Interest Rates

Notice 2011-100 provides guidance as to the corporate bond weighted average interest rate and the permissible range 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) of […]

Updated Electronic Disclosure Guidance For Participant Fee Disclosure

The DOL has revised its website to reflect its revision to the interim electronic disclosure policy under the participant disclosure regulations. Document Excerpt On September 13, 2011, the Department issued Technical Release 2011-03 (TR 2011-03), which sets forth an interim enforcement policy regarding the use of electronic media to satisfy the disclosure requirements under 29 […]

Updated Covered Compensation

Rev. Rul. 2012-5 contains new covered compensation tables. Document Excerpt  This revenue ruling provides tables of covered compensation under § 401(l)(5)(E) of the Internal Revenue Code (the “Code”) and the Income Tax Regulations thereunder, for the 2012 plan year. Link http://www.irs.gov/pub/irs-drop/rr-12-05.pdf

Recent Revenue Procedures

As of the beginning of the new year, the IRS has issued a number of revenue procedures that may be of interest to retirement plan sponsors and practitioners. Document Excerpt These synopses are intended only as aids to the reader in identifying the subject matter covered. They may not be relied upon as authoritative interpretations. […]

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