Returns Required To be Filed on Magnetic Media

The IRS issues final regulations regarding which employee benefit plan returns are required to be filed on magnetic media. Document Excerpt This document contains final regulations relating to the requirements for filing certain employee retirement benefit plan statements, returns, and reports on magnetic media. The term magnetic media includes electronic filing, as well as other […]

Amendments to Excepted Benefits Regulations

HHS and the DOL and other agencies publish amendments to the excepted benefits regulations. Document Excerpt This document contains final regulations that amend the regulations regarding excepted benefits under the Employee Retirement Income Security Act of 1974, the Internal Revenue Code (the Code), and the Public Health Service Act. Excepted benefits are generally exempt from […]

Technical Update On HAFTA Affect on Premium Filings

Technical Update 14-1 provides guidance on the impact of HAFTA on premium filings. Document Excerpt This Technical Update 14-1 provides Pension Benefit Guaranty Corporation (PBGC) guidance on the effect of the Highway and Transportation Funding Act of 2014 (HATFA) on PBGC premiums. Link http://www.pbgc.gov/prac/other-guidance/tu/tu14-1.html?source=govdelivery&utm_medium=email&utm_source=govdelivery

Additional Guidance on Hybrid Plans

The IRS has released final regulations regarding hybrid. Document Excerpt This document contains final regulations providing guidance relating to applicable defined benefit plans. Applicable defined benefit plans are defined benefit plans that use a lump sum-based benefit formula, including cash balance plans and pension equity plans, as well as other hybrid retirement plans that have […]

Final Hybrid Plan Regulations

The IRS has issued final regulations governing hybrid plans that finalize the 2010 proposed regulations.   Document Excerpt This document contains final regulations providing guidance relating to applicable defined benefit plans. Applicable defined benefit plans are defined benefit plans that use a lump sum-based benefit formula, including cash balance plans and pension equity plans, as […]

Additional Cafeteria Mid-Year Election Changes

Notice 2014-55 provides additional situations in which a participant may make mid-year election changes under a Cafeteria Plan. Document Excerpt  This notice expands the application of the permitted change rules for health coverage under a § 125 cafeteria plan (cafeteria plan). In particular, this notice addresses two specific situations in which a cafeteria plan participant […]

Proposed Approach to 4980H Look-Back Measurement Method

  Notice 2014-49 describes a proposed approach to the application of the look-back measurement period which may be used for purposes of determining full-time employee status for purposes of Section 4980H. Document Excerpt This notice describes a proposed approach to the application of the look-back measurement method, which may be used to determine if an […]

Guidance on Allocation of After-Tax Amounts To Multiple Destinations

Notice 2014-54 provides guidance on the allocation of after-tax amounts when a distribution is going to more than one location. Document Excerpt  This notice provides rules for allocating pretax and after-tax amounts among disbursements that are made to multiple destinations from a qualified plan described in § 401(a) of the Internal Revenue Code. These rules […]

Transitional Amendments to Satisfy Market Rate of Return

The IRS has released proposed regulations and request for comments regarding the market rate of return applicable to hybrid plans. Document Excerpt This document contains proposed regulations that would provide guidance regarding certain amendments to applicable defined benefit plans. Applicable defined benefit plans are defined benefit plans that use a lump sum-based benefit formula, including […]

Proposed Amendment to Regulations on Allocation of Roth Amounts Rolled To Multiple Accounts

The proposed amendments to the regulations would limit prospectively the applicability of the rule regarding the allocation of after-tax amounts when distributions are made to multiple destinations. Document Excerpt This document contains proposed amendments to the regulations that address the tax treatment of distributions from designated Roth accounts under tax favored retirement plans. The proposed […]

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