Pension& Benefits NetNews – May 13, 2014

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Featured This Week

Employee Benefits Management News

  • Clarification of coverage options for COBRA-eligible workers is released by DOL
  • ACA-related FAQs address limitations on cost-sharing, summary of benefits and
  • Supreme Court declines review of how much weight to give to SSA disability determinations when insurers make benefit determinations
  • Maryland parental leave bill signed by governor

Pension Plan Guide News

  • PBGC issues final regs on unpredictable contingent event benefit phase-in rules
  • PBGC requests OMB extend approval of information collection for Form 5500 series
  • IRS provides tax relief to severe storms, tornadoes, and flooding in Mississippi

Employee Benefits Management News

Clarification of coverage options for COBRA-eligible workers is released by DOL

Proposed regulations containing amendments to COBRA’s notice requirements have been issued by the Department of Labor (DOL), along with updates to COBRA model notices, clarifying to workers that, if they are eligible for COBRA continuation upon leaving a job, they may, instead, purchase coverage via the Health Insurance Marketplace. For details, see ¶2076V.

(Read Intelliconnect) »

ACA-related FAQs address limitations on cost-sharing, summary of benefits and coverage

The Departments of Labor (DOL), Health and Human Services (HHS), and the Treasury (the Departments) have jointly issued another set of frequently asked questions (FAQs) about the implementation of the Affordable Care Act (ACA). For details, see ¶2076W.

(Read Intelliconnect) »

Supreme Court declines review of how much weight to give to SSA disability determinations when insurers make benefit determinations

The U.S. Supreme Court has denied an insured’s request for review of whether it is “procedurally unreasonable” not to give weight to the disability determination by the Social Security Administration (SSA) when the disability standards employed by the agency and the long-term disability insurance plan administrator are functionally equivalent. For more information, see ¶2076X.

(Read Intelliconnect) »

Maryland parental leave bill signed by governor

Maryland Governor Martin O’Malley has approved legislation (SB 737 and House counterpart HB 1026) that provides up to six weeks of unpaid parental leave to employees in a 12-month period for the birth or adoption of a child. For more information, see ¶2076Z.

(Read Intelliconnect) »

Pension Plan Guide News

PBGC issues final regs on unpredictable contingent event benefit phase-in rules

Final PBGC regulations implement the Pension Protection Act of 2006 provision that the phase-in period for the guarantee of benefits that are contingent upon the occurrence of an “unpredictable contingent event,” such as a plant shutdown, starts no earlier than the date of the shutdown or other unpredictable contingent event. For more information, see ¶127Y.

(Read Intelliconnect) »

PBGC requests OMB extend approval of information collection for Form 5500 series

The PBGC is requesting that the OMB extend approval, with modifications, of its collection of information for annual reporting (Form 5500 series). For more information, see ¶127U.

(Read Intelliconnect) »

IRS provides tax relief to severe storms, tornadoes, and flooding in Mississippi

Victims of the severe storms, tornadoes and flooding that took place beginning on April 28, 2014 in parts of Mississippi may qualify for tax relief from the Internal Revenue Service. For more information, see ¶127W.

(Read Intelliconnect) »