Pension & Benefits NetNews – March 20, 2018

 

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Featured This Week

 

Employee Benefits Management News

 

  • Some benefits-related 2018 inflation adjustment amounts modified
  • Male sterilization or male contraceptives not allowable preventive care under HDHP rules
  • Number of paid sick days directly impacts how Americans use preventive care
  • Massachusetts lacked standing to sue HHS over religious exemption

Pension Plan Guide News

 

  • PBGC proposes conforming changes to guaranteed benefits and asset allocation regs concerning owner-participants
  • PBGC releases state-by-state pension payout information for 2017
  • EBSA announces OMB approval of retirement plan-related information collections

 

Employee Benefits Management News

 

Some benefits-related 2018 inflation adjustment amounts modified

The IRS has modified certain previously released inflation-adjusted amounts. Generally, these new inflation-adjusted figures apply to tax years beginning in 2018 or transactions or events occurring in calendar year 2018. The benefits-related modified items include the adoption credit, employee health insurance expense of small employers, and medical savings accounts (MSA). For more information, see ¶2113W.

        (Read Intelliconnect) »

Male sterilization or male contraceptives not allowable preventive care under HDHP rules

In Notice 2018-12, the IRS has clarified that a health plan providing benefits for male sterilization or male contraceptives without a deductible, or with a deductible below the minimum deductible for a high deductible health plan (HDHP), is not an HDHP. For more information, see ¶2113Y.

        (Read Intelliconnect) »

Number of paid sick days directly impacts how Americans use preventive care

Researchers from Florida Atlantic University and Cleveland State University conducted a study to measure the link between an employee’s number of paid sick leave days and the use of vital preventive health care services like getting a flu shot. Results from this study provide compelling evidence that workers in the United States with paid sick leave are significantly more likely to engage in preventive health care behaviors than those without paid sick leave. For more information, see ¶2114B.

        (Read Intelliconnect) »

Massachusetts lacked standing to sue HHS over religious exemption

The Commonwealth of Massachusetts lacked standing to sue HHS over two interim final rules (IFRs) which expanded the religious exemption to the contraceptive mandate of the Patient Protection and Affordable Care Act (ACA), a federal district court in Massachusetts has ruled. For more information, see ¶2114E.

        (Read Intelliconnect) »

Pension Plan Guide News

 

PBGC proposes conforming changes to guaranteed benefits and asset allocation regs concerning owner-participants

The Pension Benefit Guaranty Corporation (PBGC) has issued proposed rules to conform its guaranteed benefits and asset allocation regulations to changes in the phase-in rules for owner-participants under the Pension Protection Act of 2006 (PPA). ERISA Secs. 4022 and 4044 cover the PBGC’s guarantee of plan benefits and allocation of plan assets, respectively, under terminated single-employer defined benefit plans. Special provisions within these sections apply to owner-participants, who have certain ownership interests in their plan sponsors. PPA made changes to these provisions, which the PBGC has been operating under since they became effective. With these proposed regulations, the PBGC intends to increase transparency into its operations and provide guidance for plan administrators on the impact of the statutory changes. The proposed regulations would amend the PBGC’s benefit payment regulation by replacing the guarantee limitations applicable to substantial owners with a new limitation applicable to majority owners. For more information, see ¶20539m.

        (Read Intelliconnect) »

PBGC releases state-by-state pension payout information for 2017

The Pension Benefit Guaranty Corporation (PBGC) has released information about the amounts it paid out to retirees for 2017. The information is presented state-by-state (including U.S. territories) and, within each state, by congressional district. For more information, see ¶156k.

        (Read Intelliconnect) »

EBSA announces OMB approval of retirement plan-related information collections

The Employee Benefits Security Administration (EBSA) has announced that the Office of Management and Budget (OMB) has approved several collections of information concerning retirement plans. For more information, see ¶156d.

        (Read Intelliconnect) »

 

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