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Employee Benefits Management News
- ACA prompts employers to consider new alternatives for pre-65 retiree medical benefits, survey shows
- Onsite clinics can reduce costs, improve employee productivity
- IRS issues guidance on transportation fringe benefits
- IRS provides 2015 maximum values for employer-provided vehicles subject to cents-per-mile and fleet-average valuations
Pension Plan Guide News
- IRS issues 2015 schedule of employee plan user fees
- IRS expands automatic approval of funding method changes in takeover plans
- Revised determination letter procedures for 2015 issued by IRS
ACA prompts employers to consider new alternatives for pre-65 retiree medical benefits, survey shows
Large employers have long sought cost-effective solutions to deliver health care to their pre-65 retirees. In the wake of health care reform, they may have found them. Over the next two years, more than half of the employers surveyed that provide health care to pre-65 retirees are planning significant changes to their medical benefits and how those benefits are delivered, according to data from Towers Watson. For more information, see ¶2083H.
Onsite clinics can reduce costs, improve employee productivity
Employers are increasingly finding the use of onsite and near-site clinics as a successful strategy in controlling health care costs, enabling easy access to medical services, improving employee health, enhancing engagement in worksite programs – and ultimately increasing productivity, according to a survey of 255 employers by the non-profit National Association of Worksite Health Centers (NAWHC), with support from PwC US. For details, see ¶2083I.
IRS issues guidance on transportation fringe benefits
The IRS has issued guidance related to the enactment of section 103 of the Tax Increase Prevention Act of 2014 (TIPA), Pub. L. 113-295, which increased the monthly transit benefit exclusion under Code Sec. 132(f)(2)(A) from $130 per participating employee to $250 per participating employee for the period of January 1, 2014, through December 31, 2014. For more information, see ¶2083K.
IRS provides 2015 maximum values for employer-provided vehicles subject to cents-per-mile and fleet-average valuations
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 2015. For the amounts, see ¶2083N.
IRS issues 2015 schedule of employee plan user fees
As part of its annual series of Revenue Procedures dealing with procedural matters, the IRS has updated the user fees for 2015 for employee plans and exempt organizations. For more information, see ¶17,299U-68.
IRS expands automatic approval of funding method changes in takeover plans
The IRS has issued an announcement which provides automatic approval of a change in funding method with respect to a single-employer defined benefit plan under certain circumstances in which the change in method results from a change in the plan’s enrolled actuary. For more information, see ¶17,097U-3.
Revised determination letter procedures for 2015 issued by IRS
The IRS has issued a revision of its procedures, in 2015, for issuing determination letters on the qualified status of pension, profit-sharing, stock bonus, annuity, and employee stock ownership plans (ESOPs). For more information, see ¶17,299U-66.
For more information, visit http://www.wolterskluwerlb.com/rbcs.