Pension & Benefits NetNews – October 14, 2014

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Featured This Week

Employee Benefits Management News

  • Oklahoma district court strikes down premium subsidies, follows Halbig
  • IRS issues 2015 per diem rates for travel expense reimbursements
  • Solicitor General to SCOTUS: ACA subsidy review ‘unwarranted,’ there is no conflict
  • Flexibility potential is key reason employers give for implementing PTO programs

Pension Plan Guide News

  • IRS issues final regs that require filing certain retirement plan returns on magnetic media
  • PBGC modifying collection of information under its regs on payment of premiums
  • PBGC issues disaster relief for victims of severe storms and flooding in Michigan

Employee Benefits Management News

Oklahoma district court strikes down premium subsidies, follows Halbig analysis

A federal district court in Oklahoma has ruled that the IRS rule granting premium tax subsidies to persons enrolled in health insurance plans purchased on federally-facilitated Health Insurance Exchanges, and not just those established by a state, is invalid. For more information, see ¶2080Y.

(Read Intelliconnect) »

IRS issues 2015 per diem rates for travel expense reimbursements

The IRS has provided the 2014-2015 special per diem rates for taxpayers to use to substantiate ordinary and necessary business expenses incurred while traveling away from home. For details, see ¶2080Z.

(Read Intelliconnect) »

Solicitor General to SCOTUS: ACA subsidy review ‘unwarranted,’ there is no conflict

Following the U.S. Court of Appeals for the Fourth Circuit’s decision in King v. Burwell, Virginia residents who do not want to purchase comprehensive health insurance filed a petition for writ of certiorari with the United States Supreme Court. On Friday, October 3, 2014, Donald B. Verrilli, Jr., the United States Solicitor General, filed a brief in opposition with the Court on behalf of the U.S. Departments of HHS, Labor, and the Treasury, as well as HHS Secretary Sylvia Mathews Burwell, Labor Secretary Jacob Lew, and IRS Commissioner John Koskinen. For more information, see ¶2081A.

(Read Intelliconnect) »

Flexibility potential is key reason employers give for implementing PTO

Forty-nine percent of respondents to a 2014 WorldatWork survey, “Paid Time Off Programs and Practices” indicated they use a PTO bank system primarily to grant employees more flexibility. For more information, see ¶2081B.

(Read Intelliconnect) »

Pension Plan Guide News

IRS issues final regs that require filing certain retirement plan returns on magnetic media

The IRS has issued final regulations that require the filing of certain retirement plan statements, returns, and reports under Code Secs. 6057, 6058, and 6059 (i.e., Form 8955-SSA, Form 5500 series, and Schedules SB and MB) on magnetic media, including electronic filing. For more information, see ¶130V.

(Read Intelliconnect) »

PBGC modifying collection of information under its regs on payment of premiums

The PBGC is modifying the collection of information under its regs on payment of premiums and intends to request approval of the revised collection of information. For more information, see ¶130T.

(Read Intelliconnect) »

PBGC issues disaster relief for victims of severe storms and flooding in Michigan

The PBGC has issued disaster relief from certain plan-related deadlines and penalties for victims of severe storms and flooding that began on August 11, 2014 in Michigan. For more information, see ¶19,996C-42.

(Read Intelliconnect) »

For more information, visit http://www.wolterskluwerlb.com/rbcs.