Pension and Benefits NetNews – August 6, 2013

 

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Featured This Week

Employee Benefits Management News

  • Voluntary benefits help simplify employees’ lives, survey finds
  • Employers need to start communicating now about health exchanges, Benz Communications says
  • Plan participant’s same-sex spouse was proper recipient of ERISA benefits where state recognized Canadian marriage, federal district court rules
  • New IRS regs clarify exception to deduction limitations on payments under expense allowance arrangements

Pension Plan Guide News

  • DOL permits 401(k) plans to reschedule annual disclosures to employees
  • IRS extends deadline to submit opinion and advisory letter applications for DB mass submitter plans
  • Advisory Council meeting set for August 27-29, 2013

Employee Benefits Management News

Voluntary benefits help simplify employees’ lives, survey finds

Workers juggling both career and family may feel like their “to do” list is out of control. Work that extra hour, hit the gym, pick up kids and see to dinner, chores and homework all before bedtime. In this whirl of activity, it’s no wonder that working Americans expect their employers to help them simplify their lives by offering voluntary benefits as part of an overall employee benefits program. For details, see ¶2069G.

(Read Intelliconnect) »

Employers need to start communicating now about health exchanges, Benz Communications says

Health care reform is law and the health insurance exchanges are coming. And along with the exchanges, an onslaught of advertising directed at consumers. “Communicating with employees about health care reform — and insurance exchanges in particular — is no longer an option for employers,” according to Jennifer Benz, founder and CEO of Benz Communications. For details, see ¶2069H.

(Read Intelliconnect) »

Plan participant’s same-sex spouse was proper recipient of ERISA benefits where state recognized Canadian marriage, federal district court rules

The same-sex spouse of a plan participant is the proper recipient of a qualified pre-retirement survivor annuity under an ERISA-qualified plan, a federal district court in Pennsylvania has ruled. For more information, see ¶2069I.

(Read Intelliconnect) »

New IRS regs clarify exception to deduction limitations on payments under expense allowance arrangements

The IRS has issued final regulations with respect to the exception to the deduction limitations on certain expenditures paid or incurred under a reimbursement or other expense allowance arrangement. The final regulations affect taxpayers who pay or receive advances, allowances, or reimbursements under such arrangements. For more information, see ¶2069J.

(Read Intelliconnect) »

Pension Plan Guide News

DOL will permit 401(k) plans to reschedule annual disclosures to employees

The Department of Labor has released a field assistance bulletin, announcing a temporary enforcement policy that will allow 401(k)-type plans to reset the timing for the annual distribution of the investment comparative chart that they are required to furnish to plan participants. For more information, see ¶19,981Z-37.

(Read Intelliconnect) »

IRS extends deadline to submit opinion and advisory letter applications for DB mass submitter plans

The IRS has extended to January 31, 2014, the deadline to submit on-cycle applications for opinion and advisory letters for sponsors and practitioners maintaining defined benefit mass submitter lead plans for the plans’ second six-year remedial amendment cycle. For more information, see ¶17,097T80.

(Read Intelliconnect) »

Advisory Council meeting set for August 27-29, 2013

The 167th open meeting of the ERISA Advisory Council will be held August 27-29, 2013. For more information, see ¶122H.

(Read Intelliconnect) »