PBGC Updates Civil Penalties

In accordance with statutory authority, the PBGC announced updates to its maximum civil penalties. https://www.govinfo.gov/content/pkg/FR-2018-12-28/pdf/2018-28177.pdf?utm_medium=email&utm_source=govdelivery

Request for Comments Regarding Calculation of UBTI for Exempt Entities with more than One Unrelated Trade or Business

Document Excerpt Section 13702 of “An Act to provide for reconciliation pursuant to titles II and IV of the concurrent resolution on the budget for fiscal year 2018,” Public Law 115-97 (131 Stat. 2054 (2017)) (the Act), enacted December 22, 2017, added new § 512(a)(6) to the Internal Revenue Code (Code). Section 512(a)(6) requires an […]

Final Rule On PBGC Asset Allocation Regulations

Document Excerpt SUMMARY: This rule amends the Pension Benefit Guaranty Corporation’s regulation on Allocation of Assets in Single-Employer Plans by substituting a new table for determining expected retirement ages for participants in pension plans undergoing distress or involuntary termination with valuation dates falling in 2019. This table is needed to compute the value of early […]

Request for Comments on Modifying HIPAA

Document Excerpt SUMMARY: The Office for Civil Rights (OCR) is issuing this Request for Information (RFI) to assist OCR in identifying provisions of the Health Insurance Portability and Accountability Act privacy and security regulations that may impede the transformation to value-based health care or that limit or discourage coordinated care among individuals and covered entities […]

Guidance on Determining Parking Expenses for QTFs

Document Excerpt This notice provides interim guidance for taxpayers to determine the amount of parking expenses for qualified transportation fringes (QTFs) that is nondeductible under § 274(a)(4) of the Internal Revenue Code (Code) and for tax-exempt organizations to determine the corresponding increase in the amount of unrelated business taxable income (UBTI) under § 512(a)(7) attributable […]

Proposed Changes to Request for Coverage Determinations

Document Excerpt The Pension Benefit Guaranty Corporation (PBGC) intends to request that the Office of Management and Budget (OMB) approve, under the Paperwork Reduction Act, a collection of information necessary for PBGC to determine whether a plan is covered under title IV of the Employee Retirement Security Income Act of 1974. This notice informs the […]

Relief from the Once-In-Always-In Condition for Excluding Part-Time Employees from Making Elective Deferrals under a 403(b) Plan

Document Excerpt This notice provides transition relief from the “once-in-always-in” (OIAI) condition for excluding part-time employees under § 1.403(b)-5(b)(4)(iii)(B) of the Treasury Regulations. Under the OIAI exclusion condition, for a § 403(b) plan that excludes part-time employees from making elective deferrals, once an employee is eligible to make elective deferrals, the employee may not be […]

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