Guidance on the Application of the Affordable Care Act to certain Expatriate Health Plans

Notice 2015-43 provides interim guidance on the application of the Affordable Care Act to certain expatriate plans and issuers based in part on the definition of expatriate health plans set forth in the temporary relief under the Affordable Care Act Implementation Frequently Ask Questions Part XIII. Document Excerpt This notice provides interim guidance on the […]

Supreme Court Upholds Subsidies in Federally Maintained Exchanges

In a 6-3 decision, the Supreme Court upholds subsidies in federally maintained exchanges in King v. Burwell. Document Excerpt Held: Section 36B’s tax credits are available to individuals in States that have a Federal Exchange. Pp. 7–21. Link http://www.supremecourt.gov/opinions/14pdf/14-114_qol1.pdf

Alert Guidelines on Minimum Required Distributions

The IRS has released its updated Alert Guidelines on required  minimum distributions. Document Excerpt The purpose of Worksheet Number 9 (Form 8387) and this explanation is to assist the specialist in determining whether a plan satisfies the distribution requirements of Internal Revenue Code section 401(a)(9), in accordance with the Final and Temporary regulations under section […]

Alert Guidelines on 401(k) Requirements

The IRS issues updated Alert Guidelines governing Section 401(k) requirements. Document Excerpt The purpose of Worksheet Number 12 (Form 9002) and this explanation is to identify major problems that relate to plans that include a cash or deferred arrangement.   Link http://www.irs.gov/pub/irs-pdf/p7335.pdf

Employee and Matching Contributions

IRS releases updated Alert Guidelines governing employee contributions and matching contributions. Document Excerpt The purpose of Worksheet Number 11 (Form 8799) and this explanation is to identify major problems that relate to plans providing for employee and/or matching contributions (a “401(m) plan”).   Link http://www.irs.gov/pub/irs-pdf/p7334.pdf  

Interim Final Regulations on Applications for Partitions of Multiemployer Plans

In addition to the proposed and the temporary regulations issued by the IRS, the PBGC  releases interim final regulations on the application process for partitions of eligible title IV multiemployer plans. Document Excerpt This document contains an interim final rule prescribing the application process and notice requirements for partitions of eligible multiemployer plans under title IV of […]

Proposed Regulations on Suspension of Benefits

In conjunction with the issuance of temporary regulations, the IRS also issued proposed regulations on the suspension of benefits under multiemployer plans in critical and declining status. Document Excerpt This document contains proposed regulations relating to multiemployer pension plans that are projected to have insufficient funds, at some point in the future, to pay the […]

Temporary Regulations on Suspension of Benefits under Critical and Declining Multiemployer Plan

The IRS has issued temporary regulations governing the ability of multiemployer plans in critical and declining status to suspend benefits. Document Excerpt The Multiemployer Pension Reform Act of 2014 (“MPRA”) amended the Internal Revenue Code to incorporate suspension of benefits provisions that permit these multiemployer plans to reduce pension benefits payable to participants and beneficiaries if […]

Applications for Approval of Certain Multiemployer Defined Benefit Plan Suspensions

Revenue Procedure 2015-34 describes procedures for a multiemployer defined benefit plan in critical and declining status to apply for approval of a proposed suspension of benefits. Document Excerpt Applications for a suspension of benefits under a multiemployer defined benefit pension plan that is in critical and declining status under § 432(e)(9) will be accepted on […]

Alert Guidelines on Affiliated Service Groups

The IRS releases updated Alert Guidelines regarding the affiliated service group rules and requirements. Document Excerpt Worksheet Number 10 (Form 8388) and this explanation are designed to aid the specialist in identifying and resolving issues pertaining to affiliated service groups as defined under section 414(m) of the Code.   Link http://www.irs.gov/pub/irs-pdf/p7005.pdf

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