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In addition to this week’s news below, we are excited to announce our second annual Retirement & Benefits Compliance Customer Conference on August 4-6, 2013. Click here for more information.
Featured This Week
Employee Benefits Management News
- Mercer says delay in health reform penalties for employers leaves many issues still to resolve
- CMS finalizes certification standards for health insurance exchange navigators, certified application counselors
- ERRP operational processes to terminate as of July 31
- Health reform’s benefits highlighted by President the day after House votes to delay employer and individual mandate
Pension Plan Guide News
- DOL has launched mobile compatible version of Benefits.gov
- IRS issues updated static mortality tables for 2014 and 2015
- PBGC issues rates for valuing lump-sum, annuity payments for August 2013; variable rates for July 2013
Employee Benefits Management News
Mercer says delay in health reform penalties for employers leaves many issues still to resolve
While the announcement that employer shared responsibility penalties will not apply until 2015 was a welcome relief for employers, addressing the fundamental challenges raised by the reform law remains a priority. For details, see ¶2068W.
CMS finalizes certification standards for health insurance exchange navigators, certified application counselors
The Centers for Medicare and Medicaid Services (CMS) has issued a final rule, which provides standards for navigators, which are organizations authorized by the Patient Protection and Affordable Care Act (ACA) to provide unbiased information to consumers about coverage options in the health insurance exchanges. For details, see ¶2068X.
ERRP operational processes to terminate as of July 31
In preparation for the January 1, 2014 Early Retiree Reimbursement Program (ERRP) sunset date, the Centers for Medicare & Medicaid Services (CMS) will phase down the ERRP Secure Website so that it can be taken offline and archived in mid-2014. For more information, see ¶2068Y.
Health reform’s benefits highlighted by President the day after House votes to delay employer and individual mandate
President Obama on Thursday, July 18 touted key benefits of the Patient Protection and Affordable Care Act (PPACA) (P.L. 111-148), the day after the House of Representatives approved two bills that would officially codify the delay in the employer and individual mandate included in the reform bill. For more information, see ¶2069A.
Pension Plan Guide News
DOL has launched mobile compatible version of Benefits.gov
The Department of Labor has launched a mobile compatible version of Benefits.gov, the official benefits website of the U.S. government. For more information, see ¶122A.
IRS issues updated static mortality tables for 2014 and
The IRS has issued a notice providing updated static mortality tables for calendar years 2014 and 2015. For more information, see ¶17,152E.
PBGC issues rates for valuing lump-sum, annuity payments for August 2013; variable rates for July 2013
The PBGC has posted to its website the immediate interest rate for valuing lump-sum and annuity payments for August 2013 and the spot first, second, and third segment rates for determining the variable rate premium amount for premium payment years beginning in July 2013. For more information, see ¶122C.