PBGC Changes Its Process on Disaster Relief

From now one, relief will be more closely tied to IRS relief. Document Excerpt The Pension Benefit Guaranty Corporation (PBGC) is changing how it announces relief from filing deadlines and penalties when a disaster occurs. Under an Announcement made today, PBGC’s disaster relief will be available at the same time the Internal Revenue Service issues […]

Railroad Stock Options are Not Compensation Subject to Railroad Retirement Plan Tax

So holds the Supreme Court in Wisconsin Central Ltd. v. U.S., No. 17-530 (S. Ct. June 21, 2018). Document Excerpt Held: Employee stock options are not taxable “compensation” under the Railroad Retirement Tax Act because they are not “money remuneration.” When Link https://www.supremecourt.gov/opinions/17pdf/17-530_6537.pdf

Disaster Relief for Parts of Hawaii

The PBGC announces disaster relief for parts of Hawaii impacted by the recent volcano activity. Document Excerpt The Pension Benefit Guaranty Corporation (“PBGC”) is waiving certain penalties and extending certain deadlines in response to volcanic eruptions and earthquakes that began on May 3, 2018, in Hawaii. Link https://www.pbgc.gov/prac/other-guidance/dr/dr18-06

Association Health Plans for Small Businesses

The Trump Administration’s reform to allow small businesses to purchase association health plans thereby avoiding many of the rules crafted to apply to small business health insurance. Document Excerpt This document contains a final regulation under Title I of the Employee Retirement Income Security Act (ERISA) that establishes additional criteria under ERISA section 3(5) for […]

Trump Administration Argues Key Parts of ACA are Unconstitutional

In a filing before a district court, the DOL signals it will not defend key parts of the Affordable Care Act stating that once the Tax Cuts and Jobs Act zeros out the individual mandate penalty, the individual mandate, guaranteed issue and community ratings provisions become unconstitutional. Document Excerpt In sum, once the associated financial […]

TEGE Advisory Committee 2018 Report and Recommendations

The recommendations include suggestions for how the IRS might open a more limited Determination Letter program including a limited scope program. Document Excerpt Link https://www.irs.gov/pub/irs-pdf/p4344.pdf

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