Pension & Benefits NetNews – September 12, 2017

 

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Featured This Week

 

Employee Benefits Management News

  • EEOC’s wellness regs arbitrary and capricious, but left standing
  • Small businesses not only offer health plans, but are containing costs better than larger employers
  • Survey suggests HR missing the mark when it comes to open enrollment,
  • DOL, IRS provide relief for benefit plans affected by Hurricane Harvey

Pension Plan Guide News

  • DOL proposed amendments delay application dates of certain class PTEs connected to fiduciary conflict of interest regs, solicits more comments
  • IRS provides model amendments to add bifurcated distribution options to DB plans
  • IRS seeks applications for TE/GE advisory committee

 

Employee Benefits Management News

 

EEOC’s wellness regs arbitrary and capricious, but left standing

The EEOC’s wellness regulations under the ADA and GINA are arbitrary and capricious, the federal court in the District of Columbia ruled, granting the AARP’s motion for summary judgment on its Administrative Procedure Act challenge to the regulations. For more information, see ¶2109B.

        (Read Intelliconnect) »

Small businesses not only offer health plans, but are containing costs better than larger employers

Most people believe that small employers (those with less than 100 employees) do not offer health insurance benefits to employees that are competitive with larger employers, but a recent survey from United Benefit Advisors found that they are keeping pace with larger employers, and actually doing a better job of containing costs. For more information, see ¶2109D.

        (Read Intelliconnect) »

Survey suggests HR missing the mark when it comes to open enrollment

As many HR departments prepare for open enrollment, Namely, an HR platform for mid-sized companies, has released the results of its open enrollment survey and identified what is most important to employees in a top-notch benefits experience. For more information, see ¶2109E.

        (Read Intelliconnect) »

DOL, IRS provide relief for benefit plans affected by Hurricane Harvey

The Labor Department has issued ERISA compliance guidance that applies generally to employee benefit plans, plan sponsors, employers and employees, and service providers to employers located in a county identified for individual assistance by the Federal Emergency Management Agency (FEMA) due to the effects of Hurricane Harvey. For more information see ¶2109F.

        (Read Intelliconnect) »

Pension Plan Guide News

 

DOL proposed amendments delay application dates of certain class PTEs connected to fiduciary conflict of interest regs, solicits more comments

The Department of Labor has released a notice of proposed amendments that would further delay the applicability dates of certain class prohibited transactions that are connected with its fiduciary conflict of interest regulations from the January 1, 2018 applicability date until July 1, 2019. Specifically, the DOL proposes to extend the special transition period under Sections II and IX of the Best Interest Contract Exemption (BICE) and Section VII of the Class Exemption for Principal Transactions in Certain Assets Between Investment Advice Fiduciaries and Employee Benefit Plans and IRAs. A delay is also proposed for certain amendments to Prohibited Transaction Exemption 84-24 for the same period. For more information, see ¶152t.

        (Read Intelliconnect) »

IRS provides model amendments to add bifurcated distribution options to DB plans

Based on stakeholders’ requests, the IRS has released model amendments that a defined benefit (DB) plan sponsor may use to amend its plan document to offer bifurcated benefit distribution options to participants in accordance with final regulations issued under Code Sec. 417(e). For more information, see ¶17161z.

        (Read Intelliconnect) »

IRS seeks applications for TE/GE advisory committee

The IRS is requesting applications for membership to serve on the Advisory Committee on Tax Exempt and Government Entities (ACT). Applications will be accepted for the following vacancies that will occur in June 2018: Two (2) Employee Plans (with additional experience in federal, state and local governments preferred); one (1) Exempt Organizations (with additional experience in tax-exempt bonds preferred); and one (1) Tax Exempt Bonds (with additional experience in exempt organizations preferred). To ensure an appropriate balance of membership, final selection from qualified candidates will be determined based on experience, qualifications and other expertise. Written applications or nominations must be received on or before September 18, 2017. For more information, see ¶152L.

        (Read Intelliconnect) »

 

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