Five tips for improving employee benefits programs

Most employers are either totally frustrated at their employee benefits program or are frozen in place waiting to hear about the next round of Congressional votes, according to Rob Pariseau, executive vice president of Lykes Insurance, a Florida-based commercial insurance firm. “This is actually a good time for employers to take a step back and […]

Prohibition on loans from 403(b) plan participant’s account to church-related employer applies to indirect loans

The rule prohibiting loans from a Code Sec. 403(b)(9) retirement account of a participant to the participant’s employer, a church-related organization, under the exclusive benefit requirement of IRS Reg. Sec. 1.403(b)-9(2)(i)(C), applies not only to loans made directly to the employer, but also to indirect loans made to the employer, according to an IRS Chief […]

Pension & Benefits NetNews – November 7, 2017

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Employer premiums rise nearly 7% in 2017 as employees absorb more of health insurance cost

Premium renewal rates (the comparison of similar plan rates year over year) for employer sponsored health insurance rose an average of 6.6%-a significant increase from the five-year average increase of 5.6%, according to the 2017 United Benefit Advisors (UBA) Health Plan Survey, released October 26. Two states saw record premium increases: Connecticut saw a 24% […]

IRS seeks comments on Form 5330

The IRS is seeking comments on an extension without change of a currently approved information collection request concerning Form 5330 (Return of Excise Taxes Related to Employee Benefit Plans). The collection request is being submitted to the Office of Management and Budget (OMB) for review and clearance. Form 5308 is used to compute and collect […]

Taxpayer Advocate Service has self-help tools to assist employers with complex ACA requirements

The Taxpayer Advocate Service has announced that they have recently developed a tool to help employers understand how the provisions of the employer shared responsibility provision (ESRP) under Code Sec. 4980H apply to their organization. The ESRP applies to applicable large employers (ALEs) – generally, that means employers that had an average of at least […]

IRS seeks comments on Form 5308

The IRS is soliciting public comments on the proposed extension of a currently approved information collection concerning Form 5308 (Request for Change in Plan/Trust Year). The form is used to request permission to change the plan or trust year for a pension benefit plan. There are no changes being made to the form at this […]

Spencer’s Benefits NetNews – November 3, 2017

  About this Newsletter The Spencer’s Benefits Reports is a summary of the week’s news items posted in the WHAT’S NEW pages of Spencer’s Benefits Reports Online. For questions regarding this email service, contact Customer Service at (800)449-9525. NetNews Subscription Want to receive these Newsletters via E-mail? Sign Up / Unsubscribe hr.cch.com Resources Online Store […]

PBGC creates new pilot program for mediation of certain Termination Liability Collection and Early Warning Program cases

The Pension Benefit Guaranty Corporation (PBGC) has announced the creation of a new pilot program to offer mediation in certain Termination Liability Collection and Early Warning Program cases. PBGC’s Pilot Mediation Project will allow parties to resolve cases with the assistance of a skilled, neutral, and independent dispute resolution professional in a timely and cost-effective […]

Employer that failed to refute FMLA and overtime claims ordered to pay discharged worker over $70K

An employer failed to refute a dispatcher’s claims that she was denied overtime pay, discouraged from taking leave to undergo eye surgery, and fired in retaliation for asserting her FMLA rights. Granting the employer’s motion for summary judgment on her FLSA and FMLA claims, a federal court in Florida awarded her $70,222 in damages, broken […]