Pension & Benefits Netnews – May 26, 2015

Featured This Week

 

Employee Benefits Management News

 

  • Plans must cover the full range of FDA-approved contraceptive methods with no cost-sharing
  • ERIC urges IRS to consider impact of “Cadillac” tax on employees and employers
  • Employers don’t plan on exiting health care game any time soon
  • Safe harbor is announced for new Massachusetts sick leave law

Pension Plan Guide News

 

  • Supreme Court confirms continuing duty of fiduciaries to monitor and remove imprudent plan investments
  • PBGC clarifies that its recent proposed regs on mandatory e-filing for multiemployer notices does not affect notices to participants
  • IRS provides tax relief to victims of severe storms, tornadoes, flooding, landslides, and mudslides in Kentucky

 

Employee Benefits Management News

 

Plans must cover the full range of FDA-approved contraceptive methods with no cost-sharing

To be compliant with the Patient Protection and Affordable Care Act (ACA), health care plans must cover, without cost sharing, the full range of Food and Drug Administration (FDA)-approved methods for contraception, according to recently-released frequently asked questions from the Departments of Labor, Health and Human Services and the Treasury (the Departments). The FAQs specified that there are currently 18 distinct methods of contraception for women. For more information, see ¶2086T.

        (Read Intelliconnect) »

ERIC urges IRS to consider impact of “Cadillac” tax on employees and employers

The ERISA Industry Committee (ERIC) has submitted comments to the IRS in response to the request for guidance on implementation of the Patient Protection and Affordable Care Act’s (ACA) 40 percent excise tax on health benefits. For details, see ¶2086W.

        (Read Intelliconnect) »

Employers don’t plan on exiting health care game any time soon

Thirty-three percent of employers say they “definitely will” offer health care benefits over the next five years, and an additional 52 percent say they are “very likely” to do so, according to recent research from the International Foundation of Employee Benefit Plans (IFEBP). For more information, see ¶2086Y.

        (Read Intelliconnect) »

Safe harbor is announced for new Massachusetts sick leave law

Massachusetts Attorney General Maura Healey announced that a safe harbor will be provided for employers that have existing paid time off policies for the period July 1, 2015, (when the new sick time law takes effect) to December 31, 2015. For more information, see ¶2087A.

        (Read Intelliconnect) »

Pension Plan Guide News

 

Supreme Court confirms continuing duty of fiduciaries to monitor and remove imprudent plan investments

A suit brought within 6 years of an alleged breach by plan fiduciaries of their continuing duty to monitor and remove imprudent plan investments was not barred by ERISA’s statute of limitations, according to the United States Supreme Court. The Court unanimously validated the “continuing duty” standard, under which fiduciaries have a continuing duty, separate and apart from the responsibility to exercise prudence in initially selecting plan investments, to monitor and remove imprudent plan investments. For more information, see ¶24,017P.

        (Read Intelliconnect) »

PBGC clarifies that its recent proposed regs on mandatory e-filing for multiemployer notices does not affect notices to participants

The PBGC has received inquiries whether its proposed rule on mandatory e-filing for certain multiemployer notices would affect notices to participants. The proposed rule only affects notices to PBGC, not notices to participants. For more information, see ¶135X.

        (Read Intelliconnect) »

IRS provides tax relief to victims of severe storms, tornadoes, flooding, landslides, and mudslides in Kentucky

Victims of the severe storms, tornadoes, flooding, landslides, and mudslides that took place beginning on April 2, 2015, in parts of Kentucky may qualify for tax relief from the Internal Revenue Service. For more information, see ¶135S.

        (Read Intelliconnect) »

 

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