DOL Issues Clarifying Disclosure Guidance Specifically Question 30

Field Assistance Bulletin 2012-02R supersedes previously issued Field Assistance Bulletin 2012-02 with respect to the now infamous Question 30 by removing Question 30 and inserting a new Question 39 which makes it clear that the DOL intends to engage in discussions with stakeholders regarding these issues. Document Excerpt The Department understands plan fiduciaries and service […]

Correcting Retirement Plan Errors

Plan sponsors may not realize that even small failures can result in devastating cost as a result of the disqualification of a plan sponsor’s retirement plan. Fortunately, the IRS does make available some correction programs which, if used voluntarily and before the errors are caught by the IRS, may allow the sponsor to avoid disqualification. […]

Plan may be amended to allow Limited Lump Sum Option

The IRS has ruled privately that a defined benefit plan could be amended to allow participants receiving annuity payments a limited opportunity to instead elect a lump sum option without running afoul of the required minimum distribution provisions. Document Excerpt Link

Qs and As on Medical Loss Ratio Reporting and Rebates

CCIIO Technical Guidance regarding the Medical Loss Ratio reporting and rebate requirements. Document Excerpt This Bulletin provides MLR guidance on the following topics:   • Notice of Rebate • Notice of MLR Information • Definition of Plan Document Link

Medicare Premiums May be Deductible by the Self Employed

Reversing a long held position, the IRS Chief Counsel advises that Medicare premiums are deductible by the self employed including for coverage of a spouse and other dependents. Document Excerpt Link

Slight Amendment to Service Provider Disclosure Regulations

The amendment makes certain minor changes, such as the address to file notices when a service provider fails to provide the required disclosures. Document Excerpt This document revises the mailing address and web-based submission procedures for filing certain notices under the Department of Labor (Department) Employee Benefits Security Administration’s fiduciarylevel fee disclosure regulation under section […]

Guidance on Funding Notice Requirement

Notice 2012-46 provides guidance on the requirement to issue a funding notice under Section 101(j) of ERISA. Document Excerpt Link

Update on Interest Rates

Notice 2012-47 provides an update on the weighted average interest rates and permissible range. 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 as in effect for plan years beginning before 2008. It […]

Notice Of Proposed Information Collection for Affordable Care Act

HHS announces notice of proposed information collection for various Affordable Care Act implementation measures. Document Excerpt In compliance with the requirement of section 3506(c)(2)(A) of the Paperwork Reduction Act of 1995, the Centers for Medicare & Medicaid Services (CMS) is publishing the following summary of proposed collections for public comment. Interested persons are invited to […]

Highway Bill with Pension Changes

The Conference Committee description of the highway bill with pension changes. Document Excerpt The House recedes from its disagreement to the amendment of the Senate to the text of the bill and agrees to the same with an amendment. A summary of the bill agreed to in conference is set forth below: Link

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