Proposed Rule to Multiemployer Regulations

The proposed rule would reduce the number of actuarial valuations required for certain small terminated but not insolvent plans. Further, the proposed changes would shorten the advance notice filing requirements for mergers in certain situations. Document Excerpt PBGC is proposing to amend its multiemployer regulations to make the provision of information to PBGC and plan […]

Presidential Memorandum on myRA

The President’s memorandum to the Treasury Secretary regarding the President’s new myRA savings accounts discussed in the State of the Union. Document Excerpt All Americans deserve the ability to save for retirement. Since taking office, my Administration has committed to strengthening retirement security for all Americans, including by helping workers find ways to save for […]

Proposed Rules Relaxing Multiemployer Plan Merger Reporting Requirements

The PBGC has released proposed regulations that would relax the reporting requirements for multiemployer plan mergers. Document Excerpts PBGC is proposing to amend its multiemployer regulations to make the provision of information to PBGC and plan participants more efficient and effective and to reduce burden on plans and sponsors. The amendments would reduce the number […]

Proposed Regulations On Individual Shared Responsibility Requirement

The IRS releases proposed regulations on minimum essential coverage requirement and the individual shared responsibility payment requirements. Document Excerpt This document contains proposed regulations relating to the requirement to maintain minimum essential coverage enacted by the Patient Protection and Affordable Care Act and the Health Care and Education Reconciliation Act of 2010, as amended by […]

Extension for Certain Pre-Approved Defined Benefit Plans

The IRS has announced an extension for requesting an advisory opinion for pre-approved defined benefit plans for the second round. Document Excerpt  This announcement extends to February 2, 2015, the deadline to submit on-cycle applications for opinion and advisory letters for pre-approved defined benefit plans for the plans’ second six-year remedial amendment cycle. This extension […]

Relief from ACA Individual Shared Responsibility Payment for certain Medicaid Coverage for Parts of 2014

Notice 2014-10 provides relief from the Affordable Care Act’s individual shared responsbility payment for months in 2014 in which individuals have, under Medicaid limited-benefit health coverage that is not minimum essential coverage. Document Excerpt The § 5000A shared responsibility payment is not imposed with respect to an individual for months in 2014 when the individual […]

Lump Sum Rates For February

PBGC releases the interest rates applicable for lump sums in February, 2014. Document Excerpt The immediate interest rate for valuing lump sum payments for the month of February 2014 is 1.75% and the deferred interest rate I1 is 4.00%, I2 is 4.00%, and I3 is 4.00%. (The immediate interest rate for January 2014 was 1.75% […]

Use of Prior Versions of 5300 and 5310

The IRS announces through what date the prior versions of Forms 5300 and 5310 can continue to be used. Document Excerpt We issued revised versions of these forms in December 2013: Link http://www.irs.gov/Retirement-Plans/Revised-Forms-5300-and-5310-Sponsors-may-Temporarily-Choose-to-Use-Prior-Versions

Volunteer Firefighters and Emergency Workers will be removed from Fulltime Worker Count

Treasury has announced that the final rules will exclude volunteer firefighters and volunteer emergency workers from the count of fulltime workers for purposes of the Affordable Care Act’s 50 employee count. Document Excerpt As a result of that review and analysis, the forthcoming final regulations relating to employer shared responsibility generally will not require volunteer hours […]

Update on Corporate Bond Yield Curve and Segment Rates

Notice 2014-8 provides updated guidance on the corporate bond monthly yield curve and spot segment rates and the 24 month average segment rates 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 […]

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