PBGC Projections Report FY 2017

The PBGC releases its Fiscal Year 2017 projections report. Document Excerpt This year’s projections for PBGC’s Multiemployer Program show a very high likelihood of insolvency during FY 2025 and near certainty of insolvency by the end of FY 2026. Compared to last year’s projections, the risk of insolvency decreases slightly prior to fiscal year 2024 […]

EPCU–Party-in-Interest Transaction Project

The Employee Plans Compliance Unit reports on its Party-In-Interest transaction. Document Excerpt The project goals were to determine whether filed Forms 5500 contained correctly reported non-exempt party-in-interest transactions and whether the related Schedules G and/or Forms 5330 were accurately prepared and timely filed when required. The project selected returns with large reported non-exempt transactions, representing […]

ERISA Advisory Council on Guidance on Bonding Requirements

The EBSA has asked the 2018 ERISA Advisory Council to evaluate the effectiveness of existing guidance governing bonding requirements. Document Excerpt The Employee Benefits Security Administration (the “Department”) has asked the Council to evaluate the effectiveness of the Department’s regulations and sub-regulatory guidance promulgated under section 412 of ERISA in safeguarding plan funds or other […]

EPCU Project–Non-Cash Contributions Project

The Employee Plans Compliance Unit’s Non-Cash Contributions project involved reviewing plans that reported non-cash contribution amounts on Form 5500. Document Excerpt The project reviewed plans that reported non-cash contribution amounts on Schedule H or Schedule I to determine whether there were non-cash contributions and, if so, whether the contributions were allowable. The EPCU selected Forms […]

IRS Publishes new Employee Plans Issue Snapshots

Included are the following: Treatment of 415(c) Dollar Limitations in a Short Limitation Year Treatment of 401(a)(17) Limitation in Defined Contribution Plan in a Short Plan Year Borrowing Limits for Participants with Multiple Plan Loans Qualification Requirements for Non-Electing Church Plans under IRC Section 401(a) Vesting Schedules for Matching Contributions Plan Forfeitures Used for Qualified […]

Understanding Your 227 Letter from the IRS

The IRS provides guidance on understanding your 227 letter, acknowledgment letters sent to close an ESRP (Employer Shared Responsibility Payment) inquiry. Document Excerpt The various Letters 227 are acknowledgement letters sent to close an ESRP inquiry or provide the next steps to the Applicable Large Employer (ALE) regarding the proposed Employer Shared Responsibility Payment (ESRP). […]

DOL’s Annual Report to Congress on Self-Insured Group Health Plans

DOL releases its annual report to Congress on self-insured group health plans. Document Excerpt Link https://www.dol.gov/sites/default/files/ebsa/researchers/statistics/retirement-bulletins/annual-report-on-self-insured-group-health-plans-2018.pdf

Applicable Percentage Tables for 2019

Revenue Procedure 2018-34 provides the applicable percentage table in Section 36B(b)(3)(A) and the required contribution percentage to provide percentages to be used for 2019. Document Excerpt This revenue procedure provides indexing adjustments for certain provisions under section 36B of the Internal Revenue Code. In particular, it updates the Applicable Percentage Table in § 36B(b)(3)(A)(i) to […]

House Subcommittee Seeks ERISA Changes

House Subcommittee seeks bipartisan proposals to update ERISA including encouraging defined contribution plans to provide annuities, eliminating the “common nexus” requirement for private multiple employer plans and other changes. Document Excerpt Subcommittee members and witnesses discussed four bipartisan proposals that would amend ERISA to better meet the retirement plan needs of employees and employers with […]

HHS Publication–Trump Proposal to Lower Drug Prices

HHS releases a publication discussing the Administration’s proposal to lower drug prices. Document Excerpt Link https://www.hhs.gov/sites/default/files/AmericanPatientsFirst.pdf

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