Pension & Benefits NetNews – March 2, 2015

 

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Featured This Week

 

Employee Benefits Management News

 

  • FAQs address when supplemental health coverage constitutes excepted benefits
  • IRS issues limited transition relief from excise tax for failure to satisfy ACA market reforms
  • Final FMLA regulations adopt “place-of-celebration” rule
  • IRS sets out approaches to excise tax on “Cadillac plans”

Pension Plan Guide News

 

  • White House issues fact sheet on plans to crack down on back door payments and hidden fees received by retirement investment advisers
  • PBGC requests information on MPRA provisions concerning plan partitions and facilitated mergers
  • IRS issues request for information on future MPRA guidance relating to suspensions of benefits

 

Employee Benefits Management News

 

FAQs address when supplemental health coverage constitutes excepted benefits

The Departments of Labor (DOL), Health and Human Services (HHS), and the Treasury (the Departments) have jointly issued frequently asked questions (FAQs) that address the circumstances under which coverage that supplements group health coverage qualifies as excepted benefits, which are generally exempt from the Patient Protection and Affordable Care Act’s (ACA) market reform requirements. For more information, see ¶2084L.

        (Read Intelliconnect) »

IRS issues limited transition relief from excise tax for failure to satisfy ACA market reforms

The IRS has issued guidance reiterating its previous conclusion that employer payment plans are group health plan that do not comply with market reforms for group health plans under the Patient Protection and Affordable Care Act (ACA). For details, see ¶2084N.

        (Read Intelliconnect) »

Final FMLA regulations adopt “place-of-celebration” rule

The Department of Labor (DOL) has issued final regulations that adopt a “place-of-celebration” rule for the definition of spouse under the FMLA. The final rule changes the regulatory definition of spouse to look to the law of the place in which the marriage was entered into, as opposed to the law of the state in which the employee resides. For more information, see ¶2084P.

        (Read Intelliconnect) »

IRS sets out approaches to excise tax on “Cadillac plans”

The IRS has issued a notice describing potential approaches for several issues with respect to the excise tax on high-cost employer-sponsored health coverage under Code Sec. 4980I that may be incorporated in future proposed regulations. For more information, see ¶2084Q.

        (Read Intelliconnect) »

Pension Plan Guide News

 

White House issues fact sheet on plans to crack down on back door payments and hidden fees received by retirement investment advisers

The White House has released a fact sheet detailing its plans to crack down on back door payments and hidden fees received by retirement investment advisers, including information on a proposed regulation to be issued imposing guidelines on these advisers. For more information, see ¶133P.

        (Read Intelliconnect) »

PBGC requests information on MPRA provisions concerning plan partitions and facilitated mergers

The PBGC is issuing a request for information (RFI) to inform future PBGC guidance under sections 4231 and 4233 of ERISA. PBGC is seeking comments from all interested stakeholders, including multiemployer plan participants and beneficiaries, organizations serving or representing such individuals, multiemployer plan sponsors and professional advisors, contributing employers, unions, and other interested parties. For more information, see ¶133L.

        (Read Intelliconnect) »

IRS issues request for information on future MPRA guidance relating to suspensions of benefits

The IRS is inviting public comments with regard to future guidance required to implement provisions of the Multiemployer Pension Reform Act of 2014, Division O of the Consolidated and Further Continuing Appropriations Act, 2015, Public Law 113-235 (MPRA). MPRA generally permits a sponsor of a multiemployer defined benefit plan that is in critical and declining status to suspend certain benefits following the provision of specified notice, consideration of public comments, approval of an application for suspension, and satisfaction of other specified conditions (including a participant vote). For more information, see ¶133K.

        (Read Intelliconnect) »

 

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