Pension & Benefits NetNews – March 26, 2013

 

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Featured This Week

Employee Benefits Management News

  • EBSA extends transition period for state external review process under Affordable Care Act
  • Portland latest municipality to adopt paid sick leave measure
  • Agencies issue proposed regulations on 90-day waiting period limitation under ACA
  • Revisions to shared responsibility proposed regulations are recommended by ERIC

Pension Plan Guide News

  • PBGC updates e-4010 instructions to reflect PBGC guidance on effect of MAP-21 on 4010 reporting
  • IRS provides tips on Saver’s Credit
  • PBGC issues rates for valuing lump-sum, annuity payments for April 2013; variable rates for March 2013

Employee Benefits Management News

EBSA extends transition period for state external review process under Affordable Care Act

EBSA has issued a technical release (T.R. 2013-01) that updates and clarifies Technical Release 2011-02 (T.R. 2011-02), which provided guidance for states on state external review processes under the Patient Protection and Affordable Care Act (ACA). T.R. 2013-01 also extends the applicability of the temporary National Association of Insurance Commissioners (NAIC)-similar process standards until January 1, 2016. For details, see ¶2065S.

(Read Intelliconnect) »

Portland latest municipality to adopt paid sick leave measure

The Portland Oregon City Council has adopted an ordinance that requires employers with six or more employees to provide five days (40 hours) of paid sick leave per year to employees to care for their own illness or for a sick family member. For details, see ¶2065T.

(Read Intelliconnect) »

Agencies issue proposed regulations on 90-day waiting period limitation under ACA

The Internal Revenue Service, the Department of Labor, and the Department of Health and Human Services have issued a proposed rule that implements the 90-day waiting period limitation under the Patient Protection and Affordable Care Act (ACA). For more information, see ¶2065U.

(Read Intelliconnect) »

Revisions to shared responsibility proposed regulations are recommended by ERIC

The ERISA Industry Committee (ERIC) filed comments on March 18, 2013 urging the IRS to revise the shared responsibility proposed regulations to better accommodate the implementation challenges and administrative complexities faced by large, multinational companies with diverse workforces. For more information, see ¶2065W.

(Read Intelliconnect) »

Pension Plan Guide News

PBGC updates e-4010 instructions to reflect PBGC guidance on effect of MAP-21 on 4010 reporting

The PBGC has announced that it has updated the e-4010 instructions to reflect the PBGC’s guidance on the effect of the Moving Ahead for Progress in the 21st Century Act (MAP-21, P.L. 112-141) on ERISA Sec. 4010 reporting. For more information, see ¶119R.

(Read Intelliconnect) »

IRS provides tips on Saver’s Credit

The IRS has provided some tips to taxpayers on the Saver’s Credit for making contributions to eligible retirement plans. For more information, see ¶ 119O.

(Read Intelliconnect) »

PBGC issues rates for valuing lump-sum, annuity payments for April 2013; variable rates for March 2013

The PBGC has posted to its website the immediate interest rate for valuing lump-sum and annuity payments for April 2013 and the spot first, second, and third segment rates for determining the variable rate premium amount for premium payment years beginning in March 2013. For more information, see ¶119S.

(Read Intelliconnect) »