Retirement, Pension & Benefits

DOL proposed regulation would allow association health plans

The Department of Labor (DOL) has issued a proposed rule that would allow employers to join together as a single group to purchase insurance in the large group health insurance market. Employers could offer this employment-based health insurance via small business health plans, also known as association health plans (AHP). A principal objective of the […]

Spencer’s Benefits NetNews – January 12, 2018

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 Resources Online Store Customer […]

Employers say acquisition announcements likely to impact future health care strategies

Recent acquisition announcements in the health care industry, if approved, could not only change the way U.S. employers design their future health care strategies, but also the way individuals access health care in the future. This is according to a pulse survey from Aon. On December 14, Aon asked 450 HR leaders from large and […]

SSA issues revised maximum taxable wage base for 2018

The Social Security Administration (SSA) issued a revision of the maximum taxable wage base for 2018 based on updated wage data reported to the Agency. The new wage base amount is $128,400, down $300 from the original wage base amount of $128,700 announced in October 2017. The lower taxable maximum amount is due to corrected […]

Court vacates incentive portions of EEOC wellness regs, delays effective date until 2019

Determining that the balancing test had shifted in favor of vacatur, a federal district court in the District of Columbia granted the AARP’s motion to amend its earlier decision to remand the EEOC’s wellness rules for reconsideration without vacatur. However, in order to minimize the potential for disruption to employers, the court delayed the effective […]

IRS issues updated mortality improvement rates and static mortality tables for 2019

The IRS has provided the updated mortality improvement rates and static mortality tables to be used under Code Sec. 430(h)(3)(A). These rates are used to calculate the funding target and other items for valuation dates occurring during calendar year 2019. Also included are modified “unisex” mortality tables for use in determining minimum present value under […]

States made progress on coverage and access to care from 2013 to 2016

Forty-seven states saw their adult uninsured rate drop by five percentage points or more in the first three years following the Patient Protection and Affordable Care Act’s major health coverage expansions, according to a recent Commonwealth Fund scorecard assessing access to health care. The report, States’ Progress on Health Coverage and Access to Care, 2013-2016, […]

IRS issues 2017 required amendments list for individually designed plans

The IRS has released the 2017 Required Amendments List for individually designed qualified retirement plans. The list identifies certain changes in qualification requirements that became effective in 2017 that may require a retirement plan to be amended in order to remain qualified. In Rev. Proc. 2016-37, the IRS modified its procedures for the determination letter […]

Pension & Benefits NetNews – January 9, 2018

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Health care savings needed for retirement increases: EBRI

In 2017, a 65-year-old man needs $73,000 in savings and a 65-year-old woman needs $95,000 if each have a goal of having a 50 percent chance of having enough savings to cover premiums and median prescription drug expenses in retirement, according to research from the Employee Benefit Research Institute (EBRI). If they want a 90 […]