Pension and Benefits NetNews – July 30, 2013

 

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Featured This Week

Employee Benefits Management News

  • Massachusetts repeals employer mandate through state budget
  • IRS issues Q&As for PCORI Trust Fund fees due on July 31
  • Employer mandate in Affordable Care Act still problematic, lawmakers told
  • Despite economic recovery, EBRI reports drop in workplace health coverage

Pension Plan Guide News

  • DOL will permit 401(k) plans to reschedule annual disclosures to employees
  • PBGC proposed regs would make premium payment rules less burdensome
  • EBSA extends comment period for advance notice of proposed rulemaking on lifetime income illustrations

Employee Benefits Management News

Massachusetts repeals employer mandate through state budget

Massachusetts Governor Deval Patrick has signed a $33.6 billion Fiscal Year 2014 budget that includes a repeal of the state’s Fair Share Contribution Program. For details, see ¶2069B.

(Read Intelliconnect) »

IRS issues Q&As for PCORI Trust Fund fees due on July 31

The IRS has issued Questions and Answers regarding the fees imposed by Code Secs. 4375 through 4377 on issuers of specified health insurance policies and sponsors of applicable self-insured health plans. The fees, referred to as “PCORI fees,” help to fund the Patient-Centered Outcomes Research Institute (PCORI). For details, see ¶2069C.

(Read Intelliconnect) »

Employer mandate in Affordable Care Act still problematic, lawmakers told

Even though the Obama Administration has delayed the implementation of the employer mandate under the Patient Protection and Affordable Care Act (ACA), employers will still delay hiring full-time workers due to the added costs of the health care law, Grace-Marie Turner, president of the Galen Institute, told House lawmakers on July 23. For more information, see ¶2069D.

(Read Intelliconnect) »

Despite economic recovery, EBRI reports drop in workplace health coverage

Prior research from the nonpartisan Employee Benefit Research Institute (EBRI) and others have long measured a strong link between the employment rate and health insurance coverage. For more information, see ¶2069E.

(Read Intelliconnect) »

Pension Plan Guide News

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

The Department of Labor has announced 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 ¶122G.

(Read Intelliconnect) »

PBGC proposed regs would make premium payment rules less burdensome

The Pension Benefit Guaranty Corporation (PBGC) has issued proposed regulations designed to make its premium payment rules more effective and less burdensome. For more information, see ¶20,538M.

(Read Intelliconnect) »

EBSA extends comment period for advance notice of proposed rulemaking on lifetime income illustrations

The Employee Benefits Security Administration has extended the comment period relating to the advance notice of proposed rulemaking on the reporting benefits to participants in lifetime income illustrations until August 7, 2013. For more information, see ¶122B.

(Read Intelliconnect) »