HHS Announces Auto Enrollment Plan For Marketplace for 2015

  In an effort to simplify and avoid some of the turmoil that met its initial enrollment period, HHS has announced a method by which current Marketplace participants may be automatically reenrolled in their current plan for 2015.   Document Excerpt Today, the U.S. Department of Health and Human Services (HHS) expects to announce its […]

Supreme Court Rejects Moench Presumption

Rejecting the analysis of virtually every circuit that has reviewed the issue, the Supreme Court unanimously rejected the Moench presumption of prudence. Document Excerpt Link Held: ESOP fiduciaries are not entitled to any special presumption ofprudence. Rather, they are subject to the same duty of prudence thatapplies to ERISA fiduciaries in general, §1104(a)(1)(B), except that […]

Final Regulations on 90 Day Waiting Period

HHS, DOL and Treasury have issued final regulations on the Affordable Care Act’s 90 day Waiting Period. Document Excerpt These final regulations clarify the maximum allowed length of any reasonable and bona fide employment-based orientation period, consistent with the 90-day waiting period limitation set forth in section 2708 of the Public Health Service Act, as […]

Revised Model VCP Forms

The IRS has released revised Model Forms for specified failures that plans may use when filing for correction under VCP. Document Excerpt Appendix C Schedules (Part II) You can use one or more of these schedules with your Model Compliance Statement to resolve certain qualification failures. If you aren’t using the Model Compliance Statement, you may […]

Inherited IRAs Not Excluded From Debtor’s Bankruptcy Estate

The Supreme Court unanimously ruled that inherited IRAs are not retirement funds for purposes of the bankruptcy exemption. Document Excerpt   Link http://www.supremecourt.gov/opinions/13pdf/13-299_mjn0.pdf

Corporate Bond Weighted Average Interest Rate

  Notice 2014-41 sets forth the updated corporate bond weighted average interest rate. 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, this notice provides guidance as to the […]

July Lump Sum Rates

The PBGC has published the lump sum rate applicable for July. Document Excerpt The immediate interest rate for valuing lump sum payments for the month of July 2014 is 1.25% and the deferred interest rate I1 is 4.00%, I2 is 4.00%, and I3 is 4.00%. (The immediate interest rate for June 2014 was 1.25% for […]

Treatment of Nonstatutory Stock Option For 457A

Revenue Ruling 2014-18 provides guidance on the treatment of a nonstatutory stock option or a stock appreciation right granted by a nonqualified entity for purposes of Section 457A.   Document Excerpt Accordingly, a nonstatutory stock option exempt from section 409A is exempt from section 457A. In addition, a stock appreciation right exempt from section 409A that […]

Private Letter Ruling Analyzing De-Risking Amendment

  The Private Letter Ruling addresses the impact of a limited window amendment to allow lump sum payments to those receiving annuity payments. Document Excerpt To reduce the impact of the volatility of the large pension obligations, the Sponsor proposes to amend the plans (the “Plan Amendment”) to offer, during a one-time limited period of […]

Reporting Changes to the Marketplace

The IRS releases an electronic publication advising individuals what should be reported to the Marketplace such as family changes. Document Excerpt The premium tax credit  is a refundable tax credit that helps eligible people with moderate incomes afford health insurance purchased through the Health Insurance Marketplace. You can choose to have all or part of […]

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