Pension and Benefits NetNews – October 22, 2013

 

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Featured This Week

Employee Benefits Management News

  • House panel looks at Affordable Care Act’s impact on small business employment
  • States update mandated benefits laws
  • Accounting organization backs fewer retirement plans, simpler rules
  • Estimated savings needed for retiree health continues to decrease

Pension Plan Guide News

  • PBGC issues rates for valuing lump-sum, annuity payments for November 2013
  • IRS seeks comments on Form 5300 and Schedule Q
  • IRS seeks comments on Rev. Proc. 2010-52

Employee Benefits Management News

House panel looks at Affordable Care Act’s impact on small business employment

The House Small Business Committee held a hearing recently to question whether the employer mandate in the Patient Protection and Affordable Care Act (ACA) is hurting job growth and employment. For details, see ¶2071J.

(Read Intelliconnect) »

States update mandated benefits laws

States continue to enact mandated benefits laws. Here’s a summary of recent state activity. For details, see ¶2071K.

(Read Intelliconnect) »

Accounting organization backs fewer retirement plans, simpler rules

Congress should consolidate and simplify the types of tax-favored retirement plans now available to small business owners in order to minimize the cost and administrative burden imposed by the plans, the American Institute of Certified Public Accountants (AICPA) said in written testimony submitted for the House Small Business Committee’s October 2 hearing entitled “The Challenge of Retirement Savings for Small Employers.” For more information, see ¶2071L.

(Read Intelliconnect) »

Estimated savings needed for retiree health continues to decrease

The estimated savings that new Medicare beneficiaries will need to cover the costs of health care in retirement continues to decrease as the growth of projected future health premiums slows, according to a recent report from the Employee Benefit Research Institute (EBRI). For more information, see ¶2071N.

(Read Intelliconnect) »

Pension Plan Guide News

PBGC issues rates for valuing lump-sum, annuity payments for November 2013

The PBGC has posted to its website the immediate interest rate for valuing lump-sum payments for November 2013. The spot first, second, and third segment rates for determining the variable rate premium amount for premium payment years commencing in October 2013 are the September spot segment rates published by the Internal Revenue Service. Those rates are not yet available. For more information, see ¶123X.

(Read Intelliconnect) »

IRS seeks comments on Form 5300 and Schedule Q

– The IRS is seeking comments on an extension of a currently approved collection of information concerning Form 5300, Application for Determination of Employee Benefit Plan, and Schedule Q (Form 5300), Elective Determination Requests. For more information, see ¶123W.

(Read Intelliconnect) »

IRS seeks comments on Rev. Proc. 2010-52

The IRS is seeking comments on an extension of a currently approved collection of information concerning Rev. Proc. 2010-52, which describes the procedure by which a multiemployer plan may request approval of an extension of an amortization period under Code Sec. 431(d). For more information, see ¶123V.

(Read Intelliconnect) »