Chief Counsel defines “otherwise excludable employees”

This Chief Counsel Memorandum defines who constitutes “otherwise excludable employees” for certain testing purposes. Document Excerpt You have asked whether certain positions related to the definition of “otherwise excludable employees,” used for purposes of coverage testing under § 410(b)(4)(B) and computing the actual deferral percentage (ADP) under § 401(k)(3), are supportable. Specifically, you have asked […]

Revised Procedures for Approval of Benefit Suspensions

The IRS has released Revenue Procedure 2016-27 setting forth revised procedures for approval of benefit suspensions under multiemployer plans. Document Excerpt This revenue procedure contains revised procedures for applications for a suspension of benefits under a multiemployer defined benefit pension plan that is in critical and declining status under § 432(e)(9). These procedures replace the […]

Affordable Care Act FAQs Part 31

The DOL has posted the Affordable Care Act Frequently Asked Questions part 31. Document Excerpt Set out below are additional Frequently Asked Questions (FAQs) regarding implementation of the market reform provisions of the Affordable Care Act, the Paul Wellstone and Pete Domenici Mental Health Parity and Addiction Equity Act of 2008 (MHPAEA), and the Women’s […]

Parts of Proposed Nondiscrimination Regulations to be Withdrawn

After further consideration, the IRS has announced that the portion of its proposed nondiscrimination amendments will be withdrawn. The withdrawal will impact proposed changes that would have affected certain individual new comparability designs. Document Excerpt The Department of the Treasury (Treasury Department) and the Internal Revenue Service (IRS) announce that they will withdraw certain provisions […]

Summary of Benefits and Coverage

The DOL has updated its website to reflect updated Summary of Benefits and Coverage materials and templates for use on or after 4/01/17. Document Excerpt Link http://www.dol.gov/ebsa/healthreform/regulations/summaryofbenefits.html

Amendment to and Partial Revocation of PTE 84-24

In conjunction with the release of its final fiduciary conflict of interest regulations, the DOL is also releasing amendments to various prohibited transaction exemptions including to PTE 84-24. Document Excerpt Link https://s3.amazonaws.com/public-inspection.federalregister.gov/2016-07928.pdf

Amendments to PTEs 75-1, 77-4, 80-83 and 83-1

In conjunction with the release of final fiduciary regulations, the DOL has also released amendments to various prohibited transaction exemptions. Document Excerpt SUMMARY: This document contains amendments to prohibited transaction exemptions (PTEs) 75-1, 77-4, 80-83 and 83-1. Generally, the Employee Retirement Income Security Act of 1974 (ERISA) and the Internal Revenue Code (the Code) prohibit […]

Amendments to and Partial Revocation of PTEs 86-128 and 75-1

The DOL has also released, in conjunction with the release of the final fiduciary conflict of interest regulations, amendments to various Prohibited Transaction Exemptions. Document Excerpt The Department is amending and partially revoking PTEs 86-128 and 75-1 on its own motion, pursuant to ERISA section 408(a) and Code section 4975(c)(2), and in accordance with the […]

Amendment to PTE 75-1

Along with the final regulations and Best Interest Contract Exemption, the DOL has also released amendments to certain Prohibited Transaction Exemptions including to PTE 75-1. Document Excerpt SUMMARY: This document contains an amendment to PTE 75-1, Part V, a class exemption from certain prohibited transactions provisions of the Employee Retirement Income Security Act of 1974 […]

Class Exemption for Principal Transactions

The DOL has released its Class Exemption for Principal Transactions. Document Excerpt SUMMARY: This document contains an exemption from certain prohibited transactions provisions of the Employee Retirement Income Security Act of 1974 (ERISA) and the Internal Revenue Code (the Code). The provisions at issue generally prohibit fiduciaries with respect to employee benefit plans and individual […]

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