Disaster Relief for Affected Plans in Alabama

The PBGC announces relief from certain PBGC filing deadlines and penalties for plans affected by storms and flooding in parts of Alabama. Document Excerpt Pension Benefit Guaranty Corporation (“PBGC”) is waiving certain penalties and extending certain deadlines in response to the Severe Storms, Tornadoes, Straight-Line Winds and Flooding that occurred January 22, 2012, in Alabama. […]

IRS Encourages Small Employers to Check Out Affordable Care Act’s Health Care Tax Credit

The IRS encourages small employers to check out the Small Business Health Care Tax Credit enacted as part of the Affordable Care Act. Document Excerpt The recently-revamped Small Business Health Care Tax Credit page on IRS.gov is packed with information and resources designed to help small employers see if they qualify for the credit and […]

2011 ERISA Advisory Council Reports

The DOL has updated its website to reflect the 2011 ERISA Advisory Council Reports. Document Excerpt Link http://www.dol.gov/ebsa/publications/main.html#section16d

DOL Sues Union Over Alleged Prohibited Transaction Issues

The DOL has sued the International Association of Theatrical Stage Employees of New York alleging various prohibited transactions and fiduciary breaches including misuse of plan assets. Document Excerpt The U.S. Department of Labor has filed a lawsuit against the trustees of the pension plan, annuity fund and vacation fund of Exhibition Employees Local 829 of the […]

Interest Rates for April Lump Sums

The PBGC has released the interest rate for lump sum payments in April. Document Excerpt The immediate interest rate for valuing lump sum payments for the month of April 2012 is 1.25%. The deferred interest rate I1 is 4.00%, I2 is 4.00%, and I3 is 4.00%. (The immediate interest rate for March 2012 was 1.25% […]

Final Regulations On Exchanges

HHS issues final regulations on the minimum requirements States must meet when establishing Exchanges. The regulations will not be published until 3/27/2012. Document Excerpt SUMMARY: This final rule will implement the new Affordable Insurance Exchanges (“Exchanges”), consistent with title I of the Patient Protection and Affordable Care Act of 2010 as amended by the Health […]

Updated Weighted Average Interest Rates

Notice 2012-24 provides guidance as to the corporate bond weighted average interest rate and the permissible range under Section 412(b)(5)(B)(iii)(II) 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 […]

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