Pension and Benefits NetNews – August 26, 2014

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Featured This Week

Employee Benefits Management News

  • SIFL rates issued for the second half of 2014
  • Employers offering telemedicine expected to increase in 2015
  • Register on Pay.gov, start collecting information now, CMS advises reporting entities
  • Midsize employers are still required to do Sec. 6056 reporting in 2015, IRS says
  • Anticipated 4% rise in costs is making many employers rethink health plan offerings

Pension Plan Guide News

  • EBSA updates guidance on finding missing participants of terminated DC plans and making final distributions
  • IRS releases 2014 requirements for paper substitutes of information returns
  • DOL announces request for information on use of brokerage windows in individual account plans

Employee Benefits Management News

SIFL rates issued for the second half of 2014

The Department of Transportation has released the applicable terminal charge and standard industry fare level (SIFL) mileage rates for July 1, 2014, through December 31, 2014. For details, see ¶2079Q.

(Read Intelliconnect) »

Register on Pay.gov, start collecting information now, CMS advises reporting entities

Have you heard of Pay.gov? If your organization is a reporting entity for purposes of the Patient Protection and Affordable Care Act’s (ACA) transitional reinsurance program, you might want to become familiar with that website. For more information, see ¶2079R.

(Read Intelliconnect) »

Midsize employers are still required to do Sec. 6056 reporting in 2015, IRS says

Even though midsize employers (those with 50-99 employees) have been provided with another year to comply with the Patient Protection and Affordable Care Act’s employer mandate, they will still be required to complete information reporting under Sec. 6056 in 2015, according to speakers at an August 14 IRS webinar entitled
IRC Section 6056: Information Reporting by Applicable Large Employers on Employer-Sponsored Health Coverage. For more information, see ¶2079S.

(Read Intelliconnect) »

Anticipated 4% rise in costs is making many employers rethink health plan offerings

An expected four percent increase in 2015 health care costs for active employees (after plan design changes), is causing many employers to rethink some plan provisions, including company subsidies for spouses and dependents, according to Towers Watson, using results from the
2014 Towers Watson Health Care Changes Ahead Survey. For more information, see ¶2079T.

(Read Intelliconnect) »

Pension Plan Guide News

EBSA updates guidance on finding missing participants of terminated DC plans and making final distributions

EBSA has updated its guidance for fiduciaries that want to make final distributions from terminated defined contribution (DC) plans that have missing participants. For more information, see ¶19,981Z-40.

(Read Intelliconnect) »

IRS releases 2014 requirements for paper substitutes of information returns

The IRS has released procedures setting forth the 2014 requirements for reproducing paper substitutes and for furnishing substitute recipient statements for Form 1096, 1099, 5498, and certain other information returns. For more information, see ¶17,299U-59.

(Read Intelliconnect) »

DOL announces request for information on use of brokerage windows in individual account plans

EBSA is issuing a request for information (RFI) concerning the use brokerage windows in participant-directed individual account plans, according to a DOL news release. For more information, see ¶130D.

(Read Intelliconnect) »

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