Pension and Benefits NetNews – May 28, 2014

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Featured This Week

Employee Benefits Management News

  • New study projects health care costs to increase more slowly
  • CMS provides guidance on transitional policy extensions for midsize employers
  • Penalties apply to employer payment plans that don’t comply with ACA’s market reforms
  • Small businesses can offer big benefits, says Colonial Life

Pension Plan Guide News

  • IRS provides guidance on adopting mid-year amendments to safe harbor 401(k) plans to reflect Windsor decision
  • PBGC issues rates for valuing lump-sum payments for June 2014, variable rate premium for May 2014
  • PBGC issues disaster relief for victims of severe storms, tornadoes, and flooding in Arkansas

Employee Benefits Management News

New study projects health care costs to increase more slowly

Projected cost increases for all types of medical plans are anticipated to be down by between 0.1 and 0.5 percent in 2014, according to a survey by Buck Consultants. For details, see ¶2077F.

(Read Intelliconnect) »

CMS provides guidance on transitional policy extensions for midsize employers

The Centers for Medicare and Medicaid Services (CMS) has released a set of frequently-asked-questions (FAQs) regarding implementation of certain health insurance market reforms and health insurance marketplace standards established in the Patient Protection and Affordable Care Act (ACA). For details, see ¶2077G

(Read Intelliconnect) »

Penalties apply to employer payment plans that don’t comply with ACA’s market reforms

The IRS has issued new Questions and Answers for Affordable Care Act Tax Provisions that address the consequences to an employer if the employer does not establish a health insurance plan for its own employees, but reimburses those employees for premiums they pay for health insurance For more information, see ¶2077H.

(Read Intelliconnect) »

Small businesses can offer big benefits, says Colonial Life

Small employers don’t have to settle for small benefits packages. That’s the message of a white paper released recently by Colonial Life & Accident Insurance Company. For more information, see ¶2077I.

(Read Intelliconnect) »

Pension Plan Guide News

IRS provides guidance on adopting mid-year amendments to safe harbor 401(k) plans to reflect Windsor decision

The IRS has issued a notice providing guidance on mid-year amendments to 401(k) and 401(m) safe harbor plans in order to reflect the Supreme Court’s decision in Windsor on same-sex marriage. For more information, see ¶17,154B.

(Read Intelliconnect) »

PBGC issues rates for valuing lump-sum payments for June 2014, variable rate premium for May 2014

The PBGC has posted to its website the immediate interest rate for valuing lump-sum payments for June 2014 and the May 2014 spot rates to determine the variable rate premium. For more information, see ¶128C.

(Read Intelliconnect) »

PBGC issues disaster relief for victims of severe storms, tornadoes, and flooding in Arkansas

The PBGC has issued disaster relief from certain plan-related deadlines and penalties for victims of severe storms, tornadoes, and flooding that began on April 27, 2014 in Arkansas. For more information, see ¶19,996C-38.

(Read Intelliconnect) »