Pension and Benefits NetNews – February 18, 2014

 

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Featured This Week

Employee Benefits Management News

  • ERISA preempts state health care information reporting law due to effect on uniform benefit administration, Second Circuit rules
  • Final regulations on employer mandate delay compliance for medium-sized employers
  • Proposed regulation addresses calculation of UBTI for certain exempt organizations
  • Illinois health marketplace and The Onion unite to reach “young invincibles” as enrollment deadline looms

Pension Plan Guide News

  • IRS proposed regs address calculation of UBTI for certain exempt organizations
  • IRS issues January, February 2014 Treasury, yield curve, and segment rates
  • PBGC to pay benefits for Constar, Inc. employees

Employee Benefits Management News

ERISA preempts state health care information reporting law due to effect on uniform benefit administration, Second Circuit rules

ERISA preempts a Vermont statute and regulation that requires health insurers, including self-insured plans, to file reports containing claims data and other health care information with the state, the Second Circuit ruled. For details, see ¶2074O.

(Read Intelliconnect) »

Final regulations on employer mandate delay compliance for medium-sized employers

The IRS has issued final regulations implementing the Patient Protection and Affordable Care Act’s (ACA) employer shared responsibility provisions (employer mandate), giving medium-sized employers (50-99 full-time employees) until 2016 to comply with the mandate and providing significant transition relief for both medium-sized and larger employers (100 or more full-time employees). For details, see ¶2074P.

(Read Intelliconnect) »

Illinois health marketplace and The Onion unite to reach “young invincibles” as enrollment deadline looms

A new proposed regulation, with guidance on how certain organizations that provide employee benefits must calculate unrelated business taxable income (UBTI), has been released by the IRS and Treasury. For more information, see ¶2074Q.

(Read Intelliconnect) »

ACA exchange offerings compare favorably to employer plans

As it builds momentum and enrollment leading up to the March 31 federal health coverage deadline, Illinois, through its marketplace Get Covered Illinois (GCI), has become the first state to partner with The Onion to reach the so-called “young invincibles.” For more information, see ¶2074R.

(Read Intelliconnect) »

Pension Plan Guide News

IRS proposed regs address calculation of UBTI for certain exempt organizations

The IRS has issued new proposed regulations that provide guidance on how certain organizations that provide employee benefits, including VEBAs and SUBs, must calculate unrelated business taxable income (UBTI), and withdraw proposed regulations relating to UBTI that were published on February 4, 1986. For more information, see ¶125Y.

(Read Intelliconnect) »

IRS issues January, February 2014 Treasury, yield curve, and segment rates

An IRS notice provides guidance on the corporate bond monthly yield curve (and the corresponding spot segment rates), and the 24-month average segment rates under §430(h)(2) of the Internal Revenue Code. In addition, the notice provides guidance as to the interest rate on 30-year Treasury securities under §417(e)(3)(A)(ii)(II) as in effect for plan years beginning before 2008, the 30-year Treasury weighted average rate under §431(c)(6)(E)(ii)(I), and the minimum present value segment rates under §417(e)(3)(D) as in effect for plan years beginning after 2007. These rates reflect certain changes implemented by the Moving Ahead for Progress in the 21st Century Act, Public Law 112-141 (MAP-21). For more information, see ¶17153I.

(Read Intelliconnect) »

PBGC to pay benefits for Constar, Inc. employees

PBGC will pay retirement benefits for more than 4,400 current and future retirees of Constar Inc., a plastic container manufacturer based in Trevose, Pa. just outside Philadelphia. For more information, see ¶125Z.

(Read Intelliconnect) »