DOL Report On Quality of Plan Audits

The DOL has released a report on Assessing the Quality of Employee Benefit Plan Audits. Document Excerpt Overall, EBSA’s review found that 61% of the audits fully complied with professional auditing standards or had only minor deficiencies under professional standards. However, 39% of the audits (nearly 4 out of 10) contained major deficiencies with respect […]

PBGC Regulatory Agenda

The PBGC releases its Spring 2015 Regulatory Agenda. Document Excerpt Link  

Treasury Agenda Released

Treasury has released its spring, 2015 agency Agenda. Document Excerpt Link

DOL Regulatory Agenda

The DOL has released its Spring, 2015 Regulatory Agenda. Document Excerpt Link

Affordable Care Act Implementation Part XXVII

The Departments release the Affordable Care Act Implementation Part XXVII. Document Excerpt In the final HHS Notice of Benefit and Payment Parameters for 2016 (2016 Payment Notice) (80 FR 10750), HHS clarified that under section 1302(c)(1) of the Affordable Care Act, the self-only maximum annual limitation on cost sharing applies to each individual, regardless of […]

Tibble v. Edison International

The Supreme Court decides Tibble v. Edison International. Document Excerpt   Held: The Ninth Circuit erred by applying §1113’s statutory bar to abreach of fiduciary duty claim based on the initial selection of the investments without considering the contours of the alleged breach offiduciary duty. ERISA’s fiduciary duty is “derived from the common 2 TIBBLE […]

Lump Sum Rate for June

The PBGC releases the rate for calculating June lump sum payments. Document Excerpt The June 2015 interest assumptions under the benefit payments regulation will be 0.75 percent for the period during which a benefit is in pay status and 4.00 percent during any years preceding the benefit’s placement in pay status. In comparison with the […]

Affordable Care Act Implementation Part XXVI

The agencies have jointly released the Affordable Care Act Implementation Part XXVI dealing with coverage of various preventative services. 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 (HHS), and […]

IRS Post Changes To Determination Letter Program

The IRS has posted to its website recent changes to the processing of determination letter request reflected in Revenue Procedure 2015-6 including FAQs. Document Excerpt Employee Plans is changing the determination letter program for retirement plans (Revenue Procedure 2015-6, section 6.13). Revised processing procedures will apply to all Form 5300 series determination letter applications. The […]

Chief Counsel Memorandum on Correcting Section 409A Failures

Chief Counsel Memorandum 201518013 states that correcting a failure applicable only to compensation subject to a substantial risk of forfeiture made before the compensation vests but during the service provider’s taxable year in which it vests does not avoid income inclusion. Document Excerpt The correction of a failure to comply with section 409A(a) during a […]

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