Processing of Determination Letters for Governmental Plans

The IRS has decided that governmental plans that do not have vesting schedules at least as rapid as 15 year cliff, 20 year graded or 20 year cliff will not be processed for determination letters. Document Excerpt  Purpose: This memorandum sets forth procedures to be applied when reviewing the vesting provisions in determination letter applications for […]

Marketplace Navigator Grants

CMS announces the opportunity to apply for Affordable Care Act marketplace Navigator grants. Document Excerpt The Centers for Medicare & Medicaid Services (CMS) today announced the availability of new funding to support Navigators in Federally-facilitated and State Partnership Marketplaces. Navigators are individuals and entities that will provide unbiased information to consumers about health insurance, the […]

Pre-approved Defined Benefit Plan Program

The IRS has begun accepting applications for pre-approved defined benefit plans and has issued guidance, revised forms, and LRMs. Document Excerpt On February 1, 2013, the IRS began accepting applications for opinion and advisory letters for pre-approved defined benefit (DB) plans for the second 6-year remedial amendment cycle. Sponsors and practitioners should use Form 4461-A […]

CCIIO Letter To Issuers on Federally-Facilitated Exchanges

The letter provides technical guidance to issuers of Federally-facilited and State Partnership Exchanges. Document Excerpt  The Centers for Medicare & Medicaid Services (CMS) is issuing this Letter to Issuers on Federally-facilitated and State Partnership Exchanges (Letter). This Letter provides issuers seeking to offer Qualified Health Plans (QHPs) in Federally-facilitated Exchanges (FFE) and Federally-facilitated SHOPs (FF-SHOP), […]

Corporate Bond Weighted Average Interest Rate

Notice 2013-28 provides guidance as to the corporate bond weighted average interest rate and the permissible range for funding purposes. Document Excerpt This notice provides guidance on the corporate bond monthly yield curve (and the corresponding spot segment rates), and the 24-month average segment rates under § 430(h)(2) of the Internal Revenue Code. In addition, […]

Proposed Regs on Exchange Functions–Standards for Personnel

The Centers for Medicare & Medicaid Services has released proposed regulations on Exchange functions–standards for navigators and non-navigators assistance personnel in Federally-facilitated Exchanges. Document Excerpt The proposed regulations would create conflict-of-interest, training and certification, and meaningful access standards applicable to Navigators and non-Navigator assistance personnel in Federally-facilitated Exchanges, including State Partnership Exchanges, and to non-Navigator […]

Proposed Regulations on Reportable Events

The PBGC issues proposed regulations that would amend and govern the requirements regarding reportable events for defined benefit plans. Document Excerpt Under ERISA, pension plans and the companies that sponsor them are required to report to PBGC a range of corporate and plan events. In 2009, PBGC proposed to increase reporting requirements by eliminating most […]

Prototype 403(b) Program Established

The IRS has released long-awaited guidance on pre-approved Section 403(b) plans. Document Excerpt This revenue procedure sets forth the procedures of the Internal Revenue Service for issuing opinion and advisory letters for § 403(b) pre-approved plans (that is, § 403(b) prototype plans and § 403(b) volume submitter plans). Under the program established by this revenue […]

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