Pension & Benefits NetNews – April 29, 2014

 

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Featured This Week

Employee Benefits Management News

  • California statute of limitations applied to preclude ERISA suit, Ninth Circuit rules
  • Participants in consumer-driven health plans have higher income, better health
  • Stolen laptops lead to significant HIPAA settlements
  • IRS issues 2015 inflation-adjusted amounts for HSAs

Pension Plan Guide News

  • IRS releases 3rd quarter update to Priority Guidance Plan
  • PBGC issues disaster relief for victims of mudslides and flooding in Washington
  • Investment advisory pays more than $340,000 to pension plans after DOL finds that advisor received undisclosed commissions and fees

Employee Benefits Management News

California statute of limitations applied to preclude ERISA suit, Ninth Circuit rules

An ERISA plan could validly assert that an action by a plan participant was barred by the applicable state’s (California) statute of limitations because the plan had not waived its right to assert such a defense by later offering to review the file, the Ninth Circuit ruled. For details, see ¶2076L.

(Read Intelliconnect) »

Participants in consumer-driven health plans have higher income, better health

Compared with those in traditional health plans, those in so-called “consumer-driven” health plans tend to have higher income, more education, and be in better health, according to a new analysis by the nonpartisan Employee Benefit Research Institute (EBRI).For details, see ¶2076M.

(Read Intelliconnect) »

Stolen laptops lead to significant HIPAA settlements

Two entities have paid the U.S. Department of Health and Human Services Office for Civil Rights (OCR) $1,975,220 collectively to resolve potential violations of the Health Insurance Portability and Accountability Act (HIPAA) Privacy and Security Rules. For more information, see ¶2076N.

(Read Intelliconnect) »

IRS issues 2015 inflation-adjusted amounts for HSAs

The IRS has issued inflation adjusted amounts under Code Sec. 223 for health savings accounts (HSAs) for 2015. For the amounts, see ¶2076O.

(Read Intelliconnect) »

Pension Plan Guide News

IRS releases 3rd quarter update to Priority Guidance Plan

The IRS and Treasury Departments have released the third quarter update to the 2013-2014 Priority Guidance Plan. For more information, see ¶127N.

(Read Intelliconnect) »

PBGC issues disaster relief for victims of mudslides and flooding in Washington

The PBGC has issued disaster relief from certain plan-related deadlines and penalties for victims of mudslides and flooding that began on March 22, 2014 in Washington. For more information, see ¶19,996C-37.

(Read Intelliconnect) »

Investment advisory pays more than $340,000 to pension plans after DOL finds that advisor received undisclosed commissions and fees

Iowa-based investment advisor has paid more than $340,000 to 68 pension plans following an investigation that found that the investment advisor, his companies and former employees charged higher fees than agreed upon and recommended certain investments that resulted in the investment advisor, his companies, and the former employees receiving commissions from third parties. For more information, see ¶127I.

(Read Intelliconnect) »