Pension & Benefits NetNews – April 9, 2013

 

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Featured This Week

Employee Benefits Management News

  • Metlife study finds employees who are satisfied with benefits more likely to recommend employer as a “great place to work”
  • Medical loss ratio reporting procedures for 2012 reporting year announced
  • Proposed regulations issued on deduction limit for compensation paid by health insurance providers
  • SHOP exchange choices under health reform delayed until 2015

Pension Plan Guide News

  • IRS introduces program for issuance of opinion and advisory letters for preapproved 403(b) plans
  • PBGC issues proposed regulations on reportable events
  • PBGC announces missing participant program address changes

Employee Benefits Management News

Metlife study finds employees who are satisfied with benefits more likely to recommend employer as a “great place to work”

While only two out of five U.S. workers would strongly recommend their employer as a “great place to work,” those who do are three times more likely to be satisfied with their benefits, according to MetLife’s 11th Annual Study of Employee Benefits Trends. For details, see ¶2066C.

(Read Intelliconnect) »

Medical loss ratio reporting procedures for 2012 reporting year announced

On March 29, 2013, the Center for Consumer Information and Insurance Oversight (CCIIO) issued a memorandum that outlines the process by which health insurance issuers will submit their medical loss ratio (MLR) data to fulfill reporting obligations under the MLR provisions of the Patient Protection and Affordable Care Act (ACA). For details, see ¶2066D.

(Read Intelliconnect) »

Proposed regulations issued on deduction limit for compensation paid by health insurance providers

The IRS has released proposed regulations on the application of the $500,000 deduction limitation for remuneration provided by certain health insurance providers under Code Sec. 162(m)(6). These regulations affect health insurance providers that pay such remuneration. For more information, see ¶2066E.

(Read Intelliconnect) »

SHOP exchange choices under health reform delayed until 2015

In regulations issued on March 11, the Department of Health and Human Services (HHS) provided transition relief that would allow Small Business Health Option Program (SHOP) exchanges to only offer one health insurance option until 2015. For more information, see ¶2066G.

(Read Intelliconnect) »

Pension Plan Guide News

IRS introduces program for issuance of opinion and advisory letters for preapproved 403(b) plans

The IRS has set forth procedures for issuing opinion and advisory letters for § 403(b) pre-approved plans (that is, § 403(b) prototype plans and § 403(b) volume submitter plans). For more information, see ¶17299u28.

(Read Intelliconnect) »

PBGC issues proposed regulations on reportable events

The Pension Benefit Guaranty Corporation (PBGC) has issued proposed regulations which would revise the reportable events requirements. For more information, see ¶20538K.

(Read Intelliconnect) »

PBGC announces missing participant program address changes

The lockbox addresses for sending payment of designated benefits and/or other amounts due missing participants with a completed payment voucher have changed, the PBGC has announced. For more information, see ¶119Y.

(Read Intelliconnect) »