Employee Plans News

New issue of the IRS’ Employee Plans News released. Included is a discussion of correcting Section 457(b) failures. Document Excerpt Link http://www.irs.gov/Retirement-Plans/Employee-Plans-News

User Fee and Change of Address Information for Pre-approved 403(b)s

Revenue Procedure 2015-22 provides updated address information and user fees for submission of pre-approved Section 403(b) arrangements. Document Excerpt  This revenue procedure contains a modification to Revenue Procedure 2013-22, 2013-18 I.R.B. 985, as modified by Revenue Procedure 2014-28, 2014-16 I.R.B. 944, and modifications to Revenue Procedure 2015-8, 2015-1 I.R.B. 235. In particular, this revenue procedure […]

FAQs on Conflicted Advice

In anticipation of the release of its new fiduciary rules, the DOL has issued guidance discussing conflicts of interest by advisors and the impact on retirement savers. Document Excerpt Link http://www.dol.gov/featured/ProtectYourSavings/faqs.htm

Notice of Possible Approaches to dealing with High Cost Health Coverage

Notice 2015-16 discusses possible approaches that the IRS may use in dealing with high cost health insurance for purposes of the excise tax under Section 4980I. Document Excerpt  This notice is intended to initiate and inform the process of developing regulatory guidance regarding the excise tax on high cost employer-sponsored health coverage under § 4980I […]

Update for Weighted Average Interest and Yield Curves

Notice 2015-19 provides updated weighted average interest rates and yield curves to be used for funding purposes. Document Excerpt  This notice provides guidance on the corporate bond monthly yield curve, the corresponding spot segment rates used under § 417(e)(3), and the 24-month average segment rates under § 430(h)(2) of the Internal Revenue Code. In addition, […]

Transition Relief for Small Employers Sponsoring Employer Payment Plans

Notice 2015-17 provides transition relief  from the Section 4980D excise tax for certain small employers maintaining employer pay plans in violation of the market reforms of the Affordable Care Act. Document Excerpt This notice reiterates the conclusion in previous guidance addressing employer payment plans, including Notice 2013-54, 2013-40 I.R.B. 287,1 that employer payment plans are group […]

Affordable Care Act Implementation Part XXIII

The DOL has released its newest Affordable Care Act FAQs, Implementation Part XXIII. This set of questions deals with excepted benefits. Document Excerpt Set out below are additional Frequently Asked Questions (FAQs) regarding implementation of the Affordable Care Act. These FAQs have been prepared jointly by the Departments of Labor (DOL), Health and Human Services […]

IRS releases Reference Lists to Aid In Determination Letter Filings

Currently, employers in Cycle E are encouraged but not yet required to complete and file the Reference List but the IRS is considering making the submission mandatory as part of the determination letter application process. Document Excerpt Reference lists are tools to help you ensure that your plan document incorporates all relevant mandatory and optional […]

Final Annual Funding Notice Regulations

The DOL has released its final regulations governing the annual funding notice for defined benefit plans. Document Excerpt This document contains a final rule implementing the annual funding notice requirement of section 101(f) of the Employee Retirement Income Security Act of 1974, as amended (ERISA). The final rule requires the administrators of defined benefit plans […]

Employee Plans News

The IRS issues its February Employee Plans News.   Document Excerpt Link http://www.irs.gov/pub/irs-tege/epn_2015_1.pdf

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