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Employee Benefits Management News
- 2017 standard mileage rates released
- IRS issues final regs on disregard for facts exception for premium tax credit safe harbor
- Final rules on claims procedures for disability benefits parallel ACA rules
- New EBSA guidance includes clarification of effect of CURES Act on HRAs
Pension Plan Guide News
- PBGC issues 2017 table showing present value of maximum benefit guarantee
- IRS issues 2016 required amendments list for individually designed plans
- DOL appoints new members for 2017 ERISA Advisory Council
2017 standard mileage rates released
The IRS has released the 2017 optional standard mileage rates that employees, self-employed individuals, and other taxpayers can use to compute deductible costs of operating automobiles (including vans, pickups and panel trucks) for business, medical, moving and charitable purposes. For more information, see ¶2102F.
IRS issues final regs on disregard for facts exception for premium tax credit safe harbor
The IRS has issued final regulations adopting an intentional or reckless disregard for the facts exception to the Code Sec. 36B eligibility safe harbors for household income below 100 percent of the Federal Poverty Level (FPL), government programs such as Medicaid, and employer-sponsored coverage. For more information, see ¶2102H.
Final rules on claims procedures for disability benefits parallel ACA rules
The Employee Benefit Security Administration (EBSA) has issued final regulations revising the claims procedures for employee benefit plans providing disability benefits. For more information, see ¶2102I.
New EBSA guidance includes clarification of effect of CURES Act on HRAs
The EBSA has issued Frequently Asked Questions (FAQs) addressing special enrollment for group health plans, coverage of preventive services, and health reimbursement arrangements (HRAs), as impacted by the implementation of the ACA, HIPAA, and the recently-enacted 21st Century Cures Act (P.L. 114-255). For more information see ¶2102L.
PBGC issues 2017 table showing present value of maximum benefit guarantee
The Pension Benefit Guaranty Corporation (PBGC) has issued a table showing the present value of the PBGC’s maximum benefit guarantee for 2017. The present value of the maximum guarantee for purposes of Code Sec. 436(d)(3)(A)(ii) and ERISA §206(g)(3)(C)(i)(II) is changing for 2017. The table is based upon methodology that is set out in PBGC Technical Update 07-4. For more information, see ¶19981z57.
IRS issues 2016 required amendments list for individually designed plans
The IRS has released the 2016 Required Amendments List for individually designed qualified retirement plans. The list identifies certain changes in qualification requirements that became effective in 2016 that may require a retirement plan to be amended in order to remain qualified. For more information, see ¶17160h.
DOL appoints new members for 2017 ERISA Advisory Council
Secretary of Labor Thomas E. Perez has announced the appointment of five new members to the 2017 Advisory Council on Employee Welfare and Pension Benefit Plans, also known as the ERISA Advisory Council. The 15-member council provides advice on policies and regulations affecting employee benefit plans governed by ERISA. Members serve for staggered three-year terms. The newly appointed members and the expertise they represent are: Douglas L. Greenfield, Employee organizations; Robert A. Lavenberg, Accounting; Marjorie F. Mann, Employers; Colleen E. Medill, General public; and Srinivas Dharam Reddy, Insurance. For more information, see ¶146w.
For more information, visit http://www.wolterskluwerlb.com/rbcs.