Pension and Benefits NetNews – April 22, 2014

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Featured This Week

Employee Benefits Management News

  • Attorneys’ fees available under correct application of five-factor test, Second Circuit rules
  • Employee premium tax credit notices from Exchanges on the way, says Ernst & Young
  • Cost of ACA to large employers could be up to $5,900 per employee
  • Over 40% of employers think the ACA has impacted their retirement plans

Pension Plan Guide News

  • PBGC announces availability of 2014 premium filing instructions and My PAA for 2014 premium filings
  • IRS provides additional post-Windsor guidance
  • IRS provides tax relief to victims of mudslides and flooding in Washington State

Employee Benefits Management News

Attorneys’ fees available under correct application of five-factor test, Second Circuit rules

An insured covered under an employer-sponsored long-term disability insurance plan could recover attorneys’ fees because he was successful on the merits in his lawsuit against the plan administrator, and the lower court misapplied the legal framework when evaluating his eligibility for those fees, the Second Circuit ruled, vacating and remanding the lower court’s ruling in part. For details, see ¶2076G.

(Read Intelliconnect) »

Employee premium tax credit notices from Exchanges on the way, says Ernst & Young

Since open enrollment in the health insurance exchanges ended as of March 31, 2014, employers should be prepared to start receiving notices from the exchanges to indicate if an employee has received a premium tax credit. For details, see ¶2076H.

(Read Intelliconnect) »

Cost of ACA to large employers could be up to $5,900 per employee

When looking at increases in health care costs solely due to the Patient Protection and Affordable Care Act (ACA), the cost of the ACA to large employers (those with 10,000 or more employees) is estimated to be between $4,800 to $5,900 per employee, according to recent research from the American Health Policy Institute. For more information, see ¶2076I.

(Read Intelliconnect) »

Over 40% of employers think the ACA has impacted their retirement plans

Forty-three percent of employers report the Affordable Care Act (ACA) has affected their current retirement benefits strategy and spending, and 45% believe the ACA will change their retirement plans in the future, according to a new LIMRA Secure Retirement Institute (LIMRA SRI) study. For more information, see ¶2076J.

(Read Intelliconnect) »

Pension Plan Guide News

PBGC announces availability of 2014 premium filing instructions and My PAA for 2014 premium filings

The PBGC has announced the availability of the 2014 premium filing instructions, which has changes reflecting recent PBGC final regulations that simplified the premium payment rules, and My PAA for 2014 premium filings. For more information, see ¶127K.

(Read Intelliconnect) »

IRS provides additional post-Windsor guidance

The IRS has issued a notice providing additional guidance on the application of the U.S. v. Windsor decision to qualified plans. For more information, see ¶17,153O.

(Read Intelliconnect) »

IRS provides tax relief to victims of mudslides and flooding in Washington State

The IRS has postponed certain tax deadlines, including the filing of Form 5500s and the April 15th deadline for making contributions to IRAs, for taxpayers who reside or have a business in those areas in Washington State that were affected by mudslides and flooding beginning on March 22, 2014. For more information, see ¶127G.

(Read Intelliconnect) »