Pension & Benefit’s NetNews – November 13, 2012

 

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Featured This Week

Employee Benefits Management News

  • Treasury Department upholds health care tax credit rule
  • Companies holding back on hiring due to rising costs of benefits, survey finds
  • Treasury, IRS announce special relief to encourage leave-donation programs for victims of Hurricane Sandy
  • Expert discusses impact of election on health care

Pension Plan Guide News

  • IRS issues final regs that provide additional exception to anti-cutback rules for plan sponsors in bankruptcy proceedings
  • PBGC changing enforcement approach to target pension plans at risk
  • IRS provides tax relief to victims of Hurricane Sandy in Connecticut, New Jersey, and New York

Employee Benefits Management News

Treasury Department upholds health care tax credit rule

The Treasury Department, in an October 25 letter to House lawmakers, defended its final regulations to implement a health care tax credit under section 1311 of the Patient Protection and Affordable Care Act. For details, see ¶2062G.

(Read Intelliconnect) »

Companies holding back on hiring due to rising costs of benefits, survey finds

More than half of senior executives in the U.S. cite providing health care benefits to their employees as the greatest business challenge they face, according to a new survey by Adecco Staffing US. Furthermore, 35 percent of executives are holding back on hiring additional employees because of the passing of the health care reform law and price increases associated with it. For details, see ¶2062H.

(Read Intelliconnect) »

Treasury, IRS announce special relief to encourage leave-donation programs for victims of Hurricane Sandy

The Treasury Department and the Internal Revenue Service have announced special relief intended to support leave-based donation programs to aid victims who have suffered from the extraordinary destruction caused by Hurricane Sandy. For more information, see ¶2062I.

(Read Intelliconnect) »

Expert discusses impact of election on health care

Joseph Berardo, Jr., CEO and president of MagnaCare spoke with CCH, a Wolters Kluwer company, about the impact of the election on health care. For more information, see ¶2062J.

(Read Intelliconnect) »

Pension Plan Guide News

IRS issues final regs that provide additional exception to anti-cutback rules for plan sponsors in bankruptcy proceedings

The IRS has issued final regulations that provide an additional limited exception to Code Sec. 411(d)(6) anti-cutback rules allowing single-employer defined benefit plan sponsors in bankruptcy proceedings to eliminate single-sum distributions and other optional forms of benefits that accelerate payments. For more information, see ¶117R.

(Read Intelliconnect) »

PBGC changing enforcement approach to target pension plans at risk

The PBGC is changing its procedures for protecting pension plans under ERISA Sec. 4062(e) by targeting enforcement efforts where plans are at risk and reducing requirements where plans are not at risk. For more information, see ¶117P.

(Read Intelliconnect) »

IRS provides tax relief to victims of Hurricane Sandy in Connecticut, New Jersey, and New York

The IRS is postponing certain tax deadlines for taxpayers who reside or have a business in those counties in Connecticut, New Jersey, and New York that were affected by Hurricane Sandy that began in late October 2012. For more information, see ¶117Q.

(Read Intelliconnect) »