Pension and Benefits NetNews – April 1, 2014

 

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Featured This Week

Employee Benefits Management News

  • Association lacked standing to challenge ACA mandates
  • CMS requires provision of nondiscriminatory coverage for legally married same-sex spouses
  • Severance payments are subject to FICA tax as remuneration made to employees in consideration for employment, Supreme Court rules
  • Employers are warned away from reducing employee hours just to avoid ACA fines

Pension Plan Guide News

  • IRS announces it will adopt aggregate IRA rollover limit for post-2014 rollovers
  • IRS modifies procedures for issuing opinion and advisory letters for pre-approved 403(b) plans
  • IRS seeks public comments on 2014-2015 Priority Guidance List

Employee Benefits Management News

Association lacked standing to challenge ACA mandates

A doctors association lacked standing to challenge the IRS’s implementation of the Patient Protection and Affordable Care Act (ACA) because it failed to prove that it or its members suffered an imminent injury-in-fact that could be fairly traceable to the IRS’s actions. For details, see ¶2075R.

(Read Intelliconnect) »

CMS requires provision of nondiscriminatory coverage for legally married same-sex spouses

The Centers for Medicare and Medicaid Services (CMS) has issued a release clarifying that the availability of coverage requirement of the Public Health Service Act (PHSA) requires issuers of health insurance coverage to provide the same coverage to legally married same-sex spouses under the same terms and conditions offered to opposite-sex spouses. For details, see ¶2075S.

(Read Intelliconnect) »

Severance payments are subject to FICA tax as remuneration made to employees in consideration for employment, Supreme Court rules

Pointing to the broad definition of “wages” under the Federal Insurance Contributions Act and the Act’s history, the Supreme Court held that severance payments made to employees who were laid off when the employer ceased doing business were taxable under FICA as payment for “service.” For more information, see ¶2075T.

(Read Intelliconnect) »

Employers are warned away from reducing employee hours just to avoid ACA fines

Capping employees’ weekly hours below 30 to avoid triggering employer mandate penalties imposed by the Patient Protection and Affordable Care Act (ACA; P.L. 111-148) carries with it the risk of ERISA litigation, according to Craig Martin and Nary Kim, of the law firm of Jenner & Block, writing for CFO.com. For more information, see ¶2075U.

(Read Intelliconnect) »

Pension Plan Guide News

IRS announces it will adopt aggregate IRA rollover limit for post-2014 rollovers

The IRS has announced that it intends to follow the U.S. Tax Courts interpretation of the statutory one-rollover-per-year limitation on IRA rollovers on an aggregate basis. For more information, see ¶17,097T-86.

(Read Intelliconnect) »

IRS modifies procedures for issuing opinion and advisory letters for pre-approved 403(b) plans

The IRS has modified its procedures for issuing opinion and advisory letters for 403(b) prototype plans and 403(b) volume submitter plans. For more information, see ¶17,299U-50.

(Read Intelliconnect) »

IRS seeks public comments on 2014-2015 Priority Guidance List

The IRS is inviting the public to make recommendations for items that should be considered for inclusion on the 2014-2015 Priority Guidance List. For more information, see ¶127A.

(Read Intelliconnect) »