Pension & Benefits NetNews – January 15, 2019

 

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Featured This Week

 

Employee Benefits Management News

 

  • Stay granted in Texas case, meaning law will remain in effect while case is appealed
  • New HRA options would expand health insurance choices, AHIP says
  • States expand employee leave protections in 2018
  • Will a new Congress be able to address health care concerns in 2019?

Pension Plan Guide News

 

  • IRS provides initial guidance on deferral of income for stock options and restricted stock units
  • PBGC amends regulation on allocation of assets in single-employer plans for 2019
  • IRS issues 2018 required amendments list for individually designed plans with no changes

 

Employee Benefits Management News

 

Stay granted in Texas case, meaning law will remain in effect while case is appealed

On December 30, 2018, Judge Reed O’Connor of the Northern District of Texas, the judge who ruled earlier in December that the entire Patient Protection and Affordable Care Act (ACA) was invalid, issued a stay and partial final judgement in Texas v. U.S. This will allow the parties to immediately appeal his decision to the Fifth Circuit U.S. Court of Appeals, and ensures that the provisions of the ACA remain fully in effect in all 50 states and the District of Columbia until a final judgement is reached. For more information, see ¶2121Q.

        (Read Intelliconnect) »

New HRA options would expand health insurance choices, AHIP says

If properly regulated and implemented, access to new health reimbursement arrangement (HRA) options will give employers and consumers more choices on where to get their health insurance. That’s according to comments submitted by America’s Health Insurance Plans (AHIP) in response to the proposed rules that would expand the permitted uses of HRAs. For more information, see ¶2121R.

        (Read Intelliconnect) »

States expand employee leave protections in 2018

In 2018, while legislation that would expand employee leave protections failed to garner sufficient support on the federal scene, several states took matters into their own hands to pass measures that add or expand family and medical leave and sick time. For more information, see ¶2121U.

        (Read Intelliconnect) »

Will a new Congress be able to address health care concerns in 2019?

With a divided Congress it will be more difficult for significant legislation to be passed during the next two years, although health care issues are still a high priority for the voting public, according to presenters from Hooper, Lundy & Bookman, PC during a Wolters Kluwer Health Law webinar titled “A New Year and a New Congress — Overview of Health Care Issues in 2019.” For more information see ¶2121V.

        (Read Intelliconnect) »

Pension Plan Guide News

 

IRS provides initial guidance on deferral of income for stock options and restricted stock units

The IRS has released initial guidance on Code Sec. 83(i), as added by the 2017 Tax Cuts and Jobs Act (P.L. 115-97). Code Sec. 83 generally provides for the federal income tax treatment of property transferred in connection with the performance of services. Code Sec. 83(i) allows certain employees to elect to defer recognition of income attributable to the receipt or vesting of qualified stock for up to five years. In response to requests for guidance from stakeholders, the IRS is clarifying three key issues related to Code Sec. 83(i). For more information, see ¶17165r.

        (Read Intelliconnect) »

PBGC amends regulation on allocation of assets in single-employer plans for 2019

The PBGC regulation that governs the allocation of assets in single-employer plans and sets forth the methods for valuing benefits of terminating single-employer plans covered by ERISA has been amended. The regulation provides a new table that applies to any plan being terminated, either in a distress termination or an involuntary termination by the PBGC, with a valuation date falling in 2019, and is used to determine expected retirement ages for plan participants. This table is needed in order to compute the value of early retirement benefits and, thus, the total value of benefits under the plan. For more information, see ¶162b.

        (Read Intelliconnect) »

IRS issues 2018 required amendments list for individually designed plans with no changes

The IRS has released the 2018 Required Amendments List for individually designed qualified retirement plans. The list generally identifies certain changes in qualification requirements that became effective in an applicable year that may require a retirement plan to be amended in order to remain qualified. However, due to the recent lack of legislative or significant regulatory changes, the IRS has listed no changes in qualification requirements on the 2018 List. For more information, see ¶17165L.

        (Read Intelliconnect) »

 

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