Pension & Benefits NetNews – July 5, 2016

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Featured This Week

 

Employee Benefits Management News

 

  • Telecommuting, bonuses and professional development opportunities on the rise, SHRM annual survey finds
  • Ten steps to designing successful wellness programs
  • Additional Marketplace information is okay to include in COBRA notices
  • ERIC concerned about new health care tax proposed by House GOP

Pension Plan Guide News

 

  • IRS issues guidance on phased retirement payments from qualified defined benefit plan
  • IRS issues guidance on phased retirement payments from nonqualified plans
  • PBGC picks five investment management firms for smaller asset manager pilot program

 

Employee Benefits Management News

 

Telecommuting, bonuses and professional development opportunities on the rise, SHRM annual survey finds

Over the past 20 years, employers have increased and decreased benefits strategically in response to the needs of the workplace and employees as well as to economic and technological changes, according to the Society for Human Resource Management’s (SHRM’s) 2016 Employee Benefits Survey report. For more information, see ¶2097N.

(Read Intelliconnect) »

Ten steps to designing successful wellness programs

At the recent webinar, Winning with Wellness, sponsored by Mercer and the U.S. Chamber of Commerce, experts provided 10 essential steps to designing successful workplace wellness programs. For more information, see ¶2097O.

(Read Intelliconnect) »

Additional Marketplace information is okay to include in COBRA notices

In addition to information required to be sent to qualified COBRA beneficiaries, other information may also be sent about the ACA Marketplaces, according to a recently-issued Frequently Asked Question (FAQ) from the Labor Department (DOL), the HHS, and the IRS. For more information, see ¶2097Q.

(Read Intelliconnect) »

ERIC concerned about new health care tax proposed by House GOP

The ERISA Industry Committee (ERIC) today expressed serious concern with a major provision in the health policy paper released by the U.S. House of Representatives’ Republican Task Force on Health Care Reform. For more information, see ¶2097S.

(Read Intelliconnect) »

Pension Plan Guide News

 

IRS issues guidance on phased retirement payments from qualified defined benefit plans

An IRS notice provides guidance in response to inquiries as to whether payments received by an employee from a qualified defined benefit plan during phased retirement are amounts received as an annuity under Code Sec. 72. For purposes of this notice, phased retirement is an arrangement under which a participant in a qualified defined benefit plan commences the distribution of a portion of his or her retirement benefits from the plan while continuing to work on a part-time basis. This notice also provides guidance regarding the appropriate present value factors to be used for purposes of determining the basis recovery fraction of each payment received during phased retirement, and provides guidance regarding the time for determining the basis recovery fraction for these phased retirement payments. For more information, see ¶17159b.

(Read Intelliconnect) »

IRS issues guidance on phased retirement payments from nonqualified plans

An IRS revenue procedure provides guidance regarding the application of IRS Reg. Secs. 1.72-2(b)(2) and 1.72-4(b)(1) to amounts to which Code Sec. 72 applies that are received from a non-qualified contract. For more information, see ¶17299v18.

(Read Intelliconnect) »

PBGC picks five investment management firms for smaller asset manager pilot program

The PBGC has selected five investment management firms to participate in its pilot program for Smaller Asset Managers. The Smaller Asset Managers Pilot Program, announced last year, was created to reduce barriers that smaller investment firms face when competing for the agency’s business. Before the pilot program, these contracts were out of reach because the minimum required assets under management, often in the billions, were too large for small firms to qualify. For more information, see ¶143L.

(Read Intelliconnect) »

 

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