Pension and Benefit’s NetNews – July 9, 2013

 

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Retirement & Benefits Customer ConferenceIn addition to this week’s news below, we are excited to announce our second annual Retirement & Benefits Compliance Customer Conference on August 4-6, 2013. Click here for more information.

Featured This Week

Employee Benefits Management News

  • HHS issues final rule on determination of individuals’ eligibility for exemption from ACA’s shared responsibility payment
  • Proposed regulations address information reporting requirements for health exchanges
  • Obama Administration postpones implementation of employer mandate to 2015

Pension Plan Guide News

  • Nominations sought for ERISA Advisory Council
  • EBSA extends comment period for its lifetime income illustration proposal
  • IRS provides tax relief to victims of flooding in Alaska

Employee Benefits Management News

HHS issues final rule on determination of individuals’ eligibility for exemption from ACA’s shared responsibility payment

The Department of Health and Human Services (HHS) has issued a final rule that implements certain functions of the Affordable Insurance Exchanges (Exchanges). These specific statutory functions include determining eligibility for and granting certificates of exemption from the individual shared responsibility payment Code Sec. 5000A. For details, see ¶2068O.

(Read Intelliconnect) »

Proposed regulations address information reporting requirements for health exchanges

The IRS has issued proposed regulations relating to requirements for Affordable Insurance Exchanges to report information relating to the health insurance premium tax credit enacted by the Patient Protection and Affordable Care Act and the Health Care and Education Reconciliation Act of 2010. For details, see ¶2068P.

(Read Intelliconnect) »

Obama Administration postpones implementation of employer mandate to 2015

In an announcement from the White House that probably surprised plan practitioners and employers alike, it was proclaimed on July 2, 2013, that employer shared responsibility payments will not apply until 2015, instead of in 2014, as was originally anticipated. For more information, see ¶2068Q.

(Read Intelliconnect) »

Pension Plan Guide News

Nominations sought for ERISA Advisory Council

The Department of Labor is seeking nominations to fill five 3-year vacancies on the ERISA Advisory Council. For more information, see ¶121Q.

(Read Intelliconnect) »

EBSA extends comment period for its lifetime income illustration proposal

– 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. For more information, see ¶121W.

(Read Intelliconnect) »

IRS provides tax relief to victims of flooding in Alaska

The IRS is postponing certain tax deadlines, including the filing of Form 5500s, for taxpayers who reside or have a business in those areas in Alaska that were affected by flooding that began on May 17, 2013. For more information, see ¶121Y.

(Read Intelliconnect) »