Pension & Benefits NetNews – May 23, 2017

 

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Featured This Week

 

Employee Benefits Management News

 

  • 2018 inflation adjustments for health savings accounts released
  • Employers expect to keep popular ACA provisions, despite potential for law’s repeal
  • Reporting requirements here to stay under AHCA, although perhaps will become simpler, expert says
  • CMS mulls more flexible processes for small businesses using HealthCare.gov for SHOP

Pension Plan Guide News

 

  • IRS’s TE/GE provides guidance on calculating available plan loan amounts for participants
  • PBGC grants multiemployer plan’s request for approval of plan amendment providing for special withdrawal liability rules
  • IRS announces renewal of charter for Advisory Committee on Tax Exempt and Government Entities

 

Employee Benefits Management News

 

2018 inflation adjustments for health savings accounts released

The IRS has released the 2018 inflation-adjusted amounts for health savings accounts under Code Sec. 223. For more information, see ¶2106A.

        (Read Intelliconnect) »

Employers expect to keep popular ACA provisions, despite potential for law’s repeal

As the Senate will now take up the task of perhaps repealing and replacing the Affordable Care Act (ACA), employers expect to retain some of the law’s popular provisions, even if they are not required to by a new law, according to a new survey by Willis Towers Watson. For more information, see ¶2106D.

        (Read Intelliconnect) »

Reporting requirements here to stay under AHCA, although perhaps will become simpler, expert says

The American Health Care Act (AHCA) (H.R. 1628) passed the House by a narrow margin on May 4, 2017. During a recent Aon webinar, A Closer Look: Health Care Reform in the First 100 Days of the Trump Administration, Kerri Willis, senior vice president of Aon Health & Benefits Legal Consulting Group, noted that while the employer mandate penalties would be eliminated, “the AHCA does not repeal the employer reporting requirements.” For more information, see ¶2106H.

        (Read Intelliconnect) »

CMS mulls more flexible processes for small businesses using HealthCare.gov for SHOP

The Centers for Medicare & Medicaid Services (CMS) has stated that it intends to propose regulations that would have small employers that use the federal HealthCare.gov enroll directly with insurance companies offering Small Business Home Options Program (SHOP) plans. For more information see ¶2106I.

        (Read Intelliconnect) »

Pension Plan Guide News

 

IRS’s TE/GE provides guidance on calculating available plan loan amounts for participants

The IRS’s Tax Exempt and Government Entities (TE/GE) has issued internal guidance for the Employee Plans (EP) Rulings & Agreements staff on new Tax Exempt Quality Management System (TEQMS) and Mandatory review standards for all determination letter applications that are reviewed by Quality Assurance (QA). The guidance is effective May 1, 2017 and applicable to all determination letter applications currently in open status, including cases in QA. It will be incorporated into the Internal Revenue Manual by April 28, 2019. For more information, see ¶149x.

        (Read Intelliconnect) »

PBGC grants multiemployer plan’s request for approval of plan amendment providing for special withdrawal liability rules

The Service Employees International Union Local 1 Cleveland Pension Plan requested the Pension Benefit Guaranty Corporation (PBGC) to approve a plan amendment providing for special withdrawal liability rules for employers that maintain the Plan. PBGC published a Notice of Pendency of the Request for Approval of the amendment. In accordance with the provisions of the Employee Retirement Income Security Act of 1974, as amended (ERISA), PBGC is now advising the public that the agency has approved the requested amendment. For more information, see ¶149m.

        (Read Intelliconnect) »

IRS announces renewal of charter for Advisory Committee on Tax Exempt and Government Entities

The Charter for the Advisory Committee on Tax Exempt and Government Entities (ACT) has been renewed for a two-year period beginning April 20, 2017. For more information, see ¶150e.

        (Read Intelliconnect) »

 

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