Pension & Benefits NetNews – April 30, 2013

 

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Featured This Week

Employee Benefits Management News

  • Senator introduces bill to modify ACA’s definition of full-time employee
  • Speakers from different groups strongly disagree on employer mandate regulations
  • Guidance on SBCs is included in EBSA’s latest FAQs
  • Consumer-driven health plan enrollees less likely to be young, says EBRI

Pension Plan Guide News

  • IRS provides anti-cutback relief for certain ESOP amendments
  • Phone Forum on 401(k) compliance report scheduled for May 13, 2013
  • PBGC takes action to protect pensions at Indiana container company

Employee Benefits Management News

Senator introduces bill to modify ACA’s definition of full-time employee

Senator Susan Collins, R-ME, has introduced a bill to modify the definition of full-time employee for purposes of the Patient Protection and Affordable Care Act (ACA). For details, see ¶2066S.

(Read Intelliconnect) »

Speakers from different groups strongly disagree on employer mandate regulations

Representatives of 20 organizations at an April 23 IRS hearing expressed divergent views on the proposed employer mandate regulations under the Patient Protection and Affordable Care Act. For details, see ¶2066T.

(Read Intelliconnect) »

Guidance on SBCs is included in EBSA’s latest FAQs

The Employee Benefits Security Administration (EBSA) (in conjunction with the HHS and IRS), has issued frequently asked questions (FAQs), that focus on requirements for summaries of benefits and coverage (SBCs), and include information on templates and sample language. For more information, see ¶2066U.

(Read Intelliconnect) »

Consumer-driven health plan enrollees less likely to be young, says EBRI

New research by the nonpartisan Employee Benefit Research Institute (EBRI) contradicts the common assumption that consumer-driven health plan enrollees are more likely than those with traditional coverage to be young, because they use less health care, on average. For more information, see ¶2066V.

(Read Intelliconnect) »

Pension Plan Guide News

IRS provides anti-cutback relief for certain ESOP amendments

The IRS has issued a notice providing relief from the anti-cutback requirements of Code Sec. 411(d)(6) for plan amendments that eliminate a distribution option from an ESOP that becomes subject to the diversification requirements of Code Sec. 401(a)(35), which apply to certain defined contribution plans that hold (or are treated as holding) publicly traded employer securities. For more information, see ¶17151I.

(Read Intelliconnect) »

Phone Forum on 401(k) compliance report scheduled for May 13, 2013

The IRS is conducting a free phone forum on The 401(k) Compliance Check Questionnaire Final Report on May 13, 2013, beginning at 2:00 p.m. ET. For more information, see ¶120J.

(Read Intelliconnect) »

PBGC takes action to protect pensions at Indiana container company

The PBGC has announced that it is moving to protect the retirement benefits of nearly 12,800 workers and retirees of Saint-Gobain Containers, Inc., a glass container manufacturer based in Muncie, Indiana with facilities in eleven states across the U.S. For more information, see ¶120N.

(Read Intelliconnect) »