Benefits Forward

The DOL has revised the procedures and requirements for filing for a prohibited transaction exemption. Document Excerpt This document contains a final rule that supersedes the existing procedure governing the filing and processing of applications for administrative exemptions from the prohibited transaction provisions of the Employee Retirement Income Security Act of 1974 (ERISA), the Internal [...]

In response to a DOL request for a “No Action” letter regarding investment disclosures required to be made to participants, the SEC has indeed responded with a “No Action” letter. Document Excerpt Link http://www.dol.gov/ebsa/pdf/SECnoactionletter.pdf

The DOL request a “No Action” letter from the SEC with respect to the disclosures required to be made to participants regarding plan investments and the SEC’s marketing rules. Document Excerpt        Link http://www.dol.gov/ebsa/pdf/noactionletterrequest.pdf

The DOL has issued its final regulations governing the provision of fiduciary adviser services to a plan on a fee-level or computer model basis. Document Excerpt SUMMARY: This document contains a final rule under the Employee Retirement Income Security Act, and parallel provisions of the Internal Revenue Code of 1986, relating to the  provision of [...]

The DOL has updated its FAQs on multiemployer plan office leasing arrangements. Document Excerpt These FAQs are meant to serve as guidance and as a reminder to fiduciaries of multiemployer plans that prohibited transaction violations of the Employee Retirement Income Security Act of 1974 (ERISA) may arise in leasing or service provider arrangements.  The FAQs [...]

Responding to complaints from numerous stakeholder groups including some that sent their complaints directly to the White House, the DOL has announced that it will issue a re-proposed regulation governing the definition of “fiduciary”. Document Excerpt The U.S. Department of Labor’s Employee Benefits Security Administration will re-propose its rule on the definition of a fiduciary. [...]

The DOL releases Technical Release 2011-03 providing interim guidance on the use of electronic disclosure under Labor Reg. Section 2550.404a-5, participant-level fee disclosures. Document Excerpt General. Disclosures required by section 2550.404a-5 that are not included in a pension benefit statement in accordance with section 2550.404a-5(e)(1) or (2) may not be furnished electronically under the guidance provided [...]

The Employee Benefits Security Administration has updated its COBRA, ARRA web page with FAQ 1 clarifying the end of COBRA, ARRA subsidy. Document Excerpt Q1: I’ve heard that the COBRA Premium Reduction (Subsidy) ends on August 31, 2011, is this true? Not necessarily, some individuals will still be eligible to receive the subsidy beyond August 31, [...]

The Departments release a completed Summary of Benefits and Coverage template. Document Excerpt Link http://www.dol.gov/ebsa/pdf/SBCtemplate.pdf

HHS releases proposd guidance on certain Exchange functions and determinations of eligibility. Document Excerpt This proposed rule would implement certain functions of the new Affordable Insurance Exchanges (‘‘Exchanges’’), consistent with title I of the Patient Protection and Affordable Care Act of 2010, as amended by the Health Care and Education Reconciliation Act of 2010, referred [...]