Pension and Benefits NetNews – December 31, 2013

 

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Featured This Week

Employee Benefits Management News

  • Indiana and schools sue to block imposition of employer mandate penalty by IRS
  • Supreme Court: ERISA plan’s three-year limit on filing suit is enforceable despite its start before exhaustion of internal review process
  • IRS issues guidance on post-DOMA benefits issues
  • IRS provides transition relief for small businesses unable to offer qualified health plans in 2014
  • Proposed regulations amend the definition of limited excepted benefits for ACA compliance purposes

Pension Plan Guide News

  • ERISA plan’s three-year limit on filing suit is enforceable despite its start before exhaustion of internal review process
  • IRS provides temporary nondiscrimination relief for certain closed DB plans
  • IRS Issues 2013 cumulative list of changes in plan qualification requirements

Employee Benefits Management News

Indiana and schools sue to block imposition of employer mandate penalty by IRS

Twenty-four school corporations have joined 15 others, along with the State of Indiana, in a lawsuit against the IRS, contending that final regulations issued by the IRS in May 2012 impermissibly expanded the definition of the word “Exchange,” for purposes of the health insurance premium tax credit, to include not just health care exchanges run by individual states, but also those run by the federal government. For details, see ¶2073B.

(Read Intelliconnect) »

Supreme Court: ERISA plan’s three-year limit on filing suit is enforceable despite its start before exhaustion of internal review process

An ERISA plan’s three-year limitations period for judicial review of an adverse benefit determination is enforceable, a unanimous Supreme Court has ruled. The long-term disability plan’s limitations provision, which required that any lawsuit to recover benefits pursuant to the judicial review provision in ERISA §502(a)(1)(B) be filed within three years after “proof of loss” was due, was reasonable. For details, see ¶2073D.

(Read Intelliconnect) »

IRS issues guidance on post-DOMA benefits issues

The IRS has updated its online frequently asked questions (FAQs) on the impact on employee benefits of the Supreme Court’s decision in Windsor. In that case, the Supreme Court struck down Section 3 of the Defense of Marriage Act of 1993 (DOMA). For more information, see ¶2073E.

(Read Intelliconnect) »

IRS provides transition relief for small businesses unable to offer qualified health plans in 2014

The IRS has issued transition relief allowing small businesses to take advantage of the employer health insurance credit under Code Sec. 45R, even though they are unable to offer a qualified health plan (QHP) in 2014 through a Small Business Health Options Program (SHOP) Exchange because there are no QHPs available in the county in which they have their primary business address. For more information, see ¶2073F.

(Read Intelliconnect) »

Proposed regulations amend the definition of limited excepted benefits for ACA compliance purposes

The Departments of Labor, Health and Human Services (HHS) and the Treasury (Departments) have jointly issued proposed regulations that would amend the definition of limited excepted benefits, which are generally exempt from the Patient Protection and Affordable Care Act’s (ACA) (P.L. 111-148) market reform requirements. For more information, see ¶2073J.

(Read Intelliconnect) »

Pension Plan Guide News

ERISA plan’s three-year limit on filing suit is enforceable despite its start before exhaustion of internal review process

An ERISA plans three-year limitations period for judicial review of an adverse benefit determination is enforceable, a unanimous Supreme Court has ruled. For more information, see ¶ 24014V.

(Read Intelliconnect) »

IRS provides temporary nondiscrimination relief for certain closed DB plans

Temporary nondiscrimination relief is provided for certain “closed” defined benefit pension plans (i.e., defined benefit plans that provide ongoing accruals but that have been amended to limit those accruals to some or all of the employees who participated in the plan on a specified date). For more information, see ¶17153b.

(Read Intelliconnect) »

IRS Issues 2013 cumulative list of changes in plan qualification requirements

The IRS has issued its 2013 cumulative list of changes in plan qualification requirements. For more information, see ¶17152X.

(Read Intelliconnect) »