Pension & Benefits NetNews – August 5, 2014

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Featured This Week

Employee Benefits Management News

  • IRS updates required contribution percentages to determine affordable minimum essential coverage for 2015
  • Warner asks administration to again delay ACA employer mandate
  • Employers brighten smiles with extended dental coverage
  • HSA contributions can create surprisingly large nest eggs for retiree health expenses

Pension Plan Guide News

  • IRS requests comments on safe harbor 401(k) regs
  • IRS seeks comments on Forms 8717 and 8717-A
  • Court orders restoration of employee contributions to 401(k) plan

Employee Benefits Management News

IRS updates required contribution percentages to determine affordable minimum essential coverage for 2015

The IRS has updated the applicable percentage table used to calculate an individual’s premium tax credit for tax years beginning after December 31, 2014, as well as the required contribution percentage in Code Sec. 36B(c)(2)(C)(i)(II), which is used to determine whether an individual is eligible for affordable employer-sponsored minimum essential coverage under Code Sec. 36B for plan years beginning after December 31, 2014.For details, see ¶2079B.

(Read Intelliconnect) »

Warner asks administration to again delay ACA employer mandate

Sen. Mark R. Warner, D-Va., has asked the Obama administration to either delay or minimize the Code Secs. 4980H, 6055 and 6056 reporting requirements for employers under the Patient Protection and Affordable Care Act (ACA). For more information, see ¶2079C.

(Read Intelliconnect) »

Employers brighten smiles with extended dental coverage

Some young adults are enjoying extended dental coverage under the health care policies of their parents whose employers are voluntarily expanding such coverage in conjunction with expanded medical coverage under the Affordable Care Act (ACA). For more information, see ¶2079D.

(Read Intelliconnect) »

HSA contributions can create surprisingly large nest eggs for retiree health expenses

According to new research by the nonpartisan Employee Benefit Research Institute (EBRI), a person contributing the maximum allowable amounts for 40 years to a health savings account (HSA) without making withdrawals could accumulate up to $360,000 for health care expenses if the rate of return was 2.5 percent, $600,000 if the rate of return was 5 percent, and nearly $1.1 million if the rate of return was 7.5 percent. For more information, see ¶2079E.

(Read Intelliconnect) »

Pension Plan Guide News

IRS requests comments on safe harbor 401(k) regs

The IRS is seeking comments on an extension of a currently approved collection of information concerning its regulations on the suspension or reduction of safe harbor nonelective contributions to 401(k) plans. For more information, see ¶129J.

(Read Intelliconnect) »

IRS seeks comments on Forms 8717 and 8717-A

The IRS is seeking comments on a revision and extension of a currently approved collection of information concerning Form 8717 and Form 8717-A. For more information, see ¶129P.

(Read Intelliconnect) »

Court orders restoration of employee contributions to 401(k) plan

A federal district court in New Jersey approved a consent order and judgment ordering the defendants to restore more than $28,000 in employee contributions to the 401(k) plan of a Berlin, NJ catering company. For more information, see ¶129R.

(Read Intelliconnect) »