Notice of Public Hearing on Participant Vote on Benefit Suspension

The IRS has released a notice of public hearing on its proposed regulations governing participant voting on the suspension of benefits under the MPRA. Document Excerpt This document provides notice of public hearing on proposed regulations relating to the administration of a multiemployer plan participant vote on an approved suspension of benefits under the Multiemployer […]

Interpretive Bulletin on State Offered Private Sector Plans

Along with a proposed rule, the DOL has also released an Interpretive Bulletin 2015-02 on the application of ERISA to various state-offered arrangemtns. Document Excerpt This document sets forth the views of the Department of Labor (Department) concerning the application of the Employee Retirement Income Security Act of 1974 (ERISA) to certain state laws designed […]

Proposed Safe Harbor For States

The DOL announced a proposed safe harbor amendment that would allow states to legislate the establishment of retirement plans, perhaps mandatorily or voluntarily, for generally small businesses. Document Excerpt This document contains a proposed regulation under the Employee Retirement Income Security Act of 1974 (ERISA) setting forth a safe harbor describing circumstances in which a […]

Proposed Regulations on Claims under Plans providing Disability Benefits

The DOL has issued proposed amendments to the claims regulations governing plans providing disability benefits. Document Excerpt This document contains proposed amendments to claims procedure regulations for plans providing disability benefits under the Employee Retirement Income Security Act of 1974 (ERISA). The amendments would revise and strengthen the current rules primarily by adopting certain of […]

Final Regulations on Grandfathered Plans, Pre-Existing Conditions and other Market Reform Rules

The various agencies jointly released final regulations on grandfathered plans, pre-existing conditions and other ACA Market Reform provisions. Document Excerpt This document contains final regulations regarding grandfathered health plans, preexisting condition exclusions, lifetime and annual dollar limits on benefits, rescissions, coverage of dependent children to age 26, internal claims and appeal and external review processes, […]

Final Regulations Permitting Amendments to Conform to Hybrid Interest Crediting Requirements

The IRS has released final regulations allowing certain hybrid plans to be amended to comply with the interest crediting rules without violating the anti-cutback rule. Document Excerpt This document contains final regulations that provide guidance regarding certain amendments to applicable defined benefit plans. Applicable defined benefit plans are defined benefit plans that use a lump […]

Employee Plans News

Most recent edition of the IRS’ Employee Plans News includes 2016 plan limits. Document Excerpt Link

2016 COLA Limits

Notice 2015-75 sets forth the cost of living adjusted plan limits for 2016. Document Excerpt ┬áSection 415 of the Internal Revenue Code (the Code) provides for dollar limitations on benefits and contributions under qualified retirement plans. Section 415(d) requires that the Secretary of the Treasury annually adjust these limits for cost-of-living increases. Other limitations applicable […]

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