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Employee Benefits Management News
- IRS issues guidance on expatriate health plans for 2016 fee year
- Fact sheet lays out joint employer responsibilities under FMLA
- Student health plans that might violate ACA given time to comply
- IRS provides 2016 maximum vehicle values for cents-per-mile and fleet-average valuation rules
Pension Plan Guide News
- Supreme Court affirms higher pleading threshold under Fifth Third for fiduciary breach claims
- IRS issues governmental plan normal retirement age proposed regs
- IRS issues revised procedures for relating to technical advice
IRS issues guidance on expatriate health plans for 2016 fee year
The IRS has provided guidance that excludes expatriate health plans from the annual fee imposed on insurers of U.S. health risks for the 2016 fee year. For more information, see ¶2093S.
Fact sheet lays out joint employer responsibilities under FMLA
The Department of Labor has issued sub-regulatory guidance on the joint employment relationship and the corresponding responsibilities of primary and secondary employers under the Family and Medical Leave Act (FMLA). The guidance includes both an example and a chart to illustrate the specific responsibilities of primary and secondary employers under the FMLA. For details, see ¶2093U.
Student health plans that might violate ACA given time to comply
The Departments of the Treasury, Labor, and Health and Human Services (Departments) have issued guidance on the application of certain provisions of the Patient Protection and Affordable Care Act (ACA) (P.L. 111-148) to premium reduction arrangements offered in connection with student health plans. For more information, see ¶2093X.
IRS provides 2016 maximum vehicle values for cents-per-mile and fleet-average valuation rules
The IRS has released the maximum allowable value of certain employer-provided automobiles, including trucks and vans that are first made available to employees for personal use during calendar year 2016. For more information, see ¶2093Y.
Supreme Court affirms higher pleading threshold under Fifth Third for fiduciary breach claims
The rejection by the United States Supreme Court of the presumption of prudence as applied to fiduciaries who manage employee stock ownership plans (ESOPs) suggested a higher threshold plan participants would need to satisfy in order to state a claim for fiduciary breach with respect to the management of employer stock holdings. The Ninth Circuit, however, subsequently determined that the Court had not established a higher pleading standard of particularity. The Supreme Court has now reversed the Ninth Circuit, forcefully advising courts that complaints alleging fiduciary breach must fully support the claim that a prudent fiduciary could not have concluded that an alternative action would do “more harm than good.”For more information, see ¶24,018T.
IRS issues governmental plan normal retirement age proposed regs
The IRS has proposed would provide rules relating to the determination of whether the normal retirement age under a governmental plan (within the meaning of section 414(d) of the Code) that is a pension plan satisfies the requirements of section 401(a) and whether the payment of definitely determinable benefits that commence at the plan’s normal retirement age satisfies these requirements. These regulations would affect sponsors and administrators of governmental pension plans, as well as participants in such plans. For more information, see ¶20264g.
IRS issues revised procedures for relating to technical advice
The IRS has issued its annual revision of the general procedures relating to the issuance of technical advice to a director or an appeals area director by the various offices of the Associate Chief Counsel. The procedures also explain the taxpayer’s rights when a field office requests technical advice. A technical advice memorandum (TAM) is normally requested when there is a lack of uniformity regarding the disposition of an issue or when an issue is unusual or complex enough to warrant consideration by an Associate office. The new procedures reflect that in transactions involving multiple taxpayers, the field office may request a single TAM only if each taxpayer agrees to participate in the process by furnishing a Form 8821, Tax Information Authorization, or by other written consent. Further, Appeals will not settle an issue contrary to a TAM if it concerns an organization’s exempt status or private foundation classification, although Appeals may submit a proposed disposition of the issue contrary to the original TAM as a request for a new TAM. No other significant changes were made to these procedures for 2016. For more information, see ¶17,299V-2.
For more information, visit http://www.wolterskluwerlb.com/rbcs.