FAQs for Disaster Victims in Nebraska

Document Excerpt The following FAQs are intended to provide information to participants and beneficiaries in employee benefit plans impacted by the 2019 Nebraska Severe Winter Storm, Straight-line Winds, and Flooding (FEMA-DR- 4420), the 2019 Iowa Severe Storms and Flooding (FEMA-DR-4421) or the 2019 Alabama Severe Storms, Straight-line Winds, and Tornadoes (FEMA-DR-4419) (the “Covered Disasters”). Generally, […]

Operational Compliance List

Document Excerpt The Operational Compliance List (“OC” List) is provided per Rev. Proc. 2016-37, Section 10, to help plan sponsors and practitioners achieve operational compliance by identifying changes in qualification requirements effective during a calendar year. The OC List: Identifies matters that may involve either mandatory or discretionary plan amendments depending on the particular plan. […]

Updated Mortality Improvement Rates and Static Mortality Tables for 2020

Document Excerpt This notice specifies updated mortality improvement rates and static mortality tables to be used for defined benefit pension plans under § 430(h)(3)(A) of the Internal Revenue Code (Code) and section 303(h)(3)(A) of the Employee Retirement Income Security Act of 1974, Pub. L. No. 93-406, as amended (ERISA). These updated mortality improvement rates and […]

Adjusting DOL Penalties for Inflation

Document /excerpt EBSA is responsible for administering and enforcing the fiduciary, reporting and disclosure provisions of Title I of the Employee Retirement Income Security Act of 1974 (ERISA). Under Part 5 of Subtitle B of Title I, EBSA has the authority to assess and collect a number of civil monetary penalties. ERISA civil monetary penalties […]

March Interest Rate Summary

Document Excerpt The purpose of this summary is to provide, in one place, a summary of current interest rates that relate to various calculations required under Title IV of ERISA. PBGC posts this summary each month, as soon as all of the new information is available. Rate‑specific webpages containing additional information about and historical data […]

Covered Compensation Tables for 2019

Document Excerpt This revenue ruling provides tables of covered compensation under § 401(l)(5)(E) of the Internal Revenue Code and the Income Tax Regulations thereunder, for the 2019 plan year. Link https://www.irs.gov/pub/irs-drop/rr-19-06.pdf

IRS No Longer Intends to amend Required Minimum Distribution Regulations to deal with Pension De-risking

Document Excerpt This notice is to inform taxpayers that the Department of the Treasury (Treasury Department) and the Internal Revenue Service (IRS) no longer intend to amend the required minimum distribution regulations under Section 401(a)(9) of the Internal Revenue Code (Code) to address the practice of offering retirees and beneficiaries who are currently receiving annuity […]

Qs and As on Reporting on Offers of Coverage by Employers

Document Excerpt Certain employers are required to report to the IRS information about whether they offered health coverage to their employees and if so, information about the coverage offered. This information also must be provided to employees. These FAQs address these reporting requirements. Link https://www.irs.gov/affordable-care-act/employers/questions-and-answers-on-reporting-of-offers-of-health-insurance-coverage-by-employers-section-6056

Qs and As on Information Reporting under Section 6055

Document Excerpt Information reporting under section 6055 for health coverage providers. More information is available on the information reporting for providers of minimum essential coverage page. Link https://www.irs.gov/affordable-care-act/questions-and-answers-on-information-reporting-by-health-coverage-providers-section-6055

Information on Acting as an Authorized Claims Representative

Document Excerpt This responds to your request on behalf of The Justus Group, L3C (Justus) to clarify its ability to act as an authorized representative for claimants in accordance with the Department of Labor’s claims procedure regulation, which implements section 503 of the Employee Retirement Income Security Act of 1974 (ERISA). Justus acts as a […]

About Us

Benefits Forward is a news site for professionals in the field of employee benefits. Our goal is to provide the latest information about the benefits field and to host a community discussion regarding related issues.

Seminars, Conferences & Other Events

  • Sorry, there are no articles in this category.

Need Help Correcting Plan Errors?

Contact us for either consultation on how you can Self Correct or to propose cost effective correction methods using VCP. Or contact us to submit under VCP on your behalf or on behalf of your client. Contact us by email.