Pension & Benefits Netnews – September 4, 2012

 

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Featured This Week

Employee Benefits Management News

States continue to move forward with exchanges, HHS says
San Francisco increases health care spending requirement for 2013
SIFL rates issued for the second half of 2012
IRS seeks comments on substantiation of fringe benefits

Pension Plan Guide News

PBGC issues guidance on determination of premiums under MAP-21
IRS to add second session to September 7 Phone Forum on correction of 401(k) plan errors
PBGC completes corrective work on United Airlines, agency apologizes and begins back payments

Employee Benefits Management News

States continue to move forward with exchanges, HHS says

Health and Human Services (HHS) Secretary Kathleen Sebelius has announced that California, Connecticut, Hawaii, Iowa, Maryland, Nevada, New York, and Vermont have received new grants to help support the establishment of Affordable Insurance Exchanges. For details, see ¶2060I.

(Read Intelliconnect) »

San Francisco increases health care spending requirement for 2013

On Jan. 1, 2013, employers in San Francisco with 100 or more employees will be required to spend $2.33 per hour per covered employee on health care, up from $2.20 in 2012. For details, see ¶2060J.

(Read Intelliconnect) »

SIFL rates issued for the second half of 2012

The Department of Transportation has released the applicable terminal charge and standard industry fare level (SIFL) mileage rates for July 1, 2012, through December 31, 2012. For the rates, see ¶2060K.

(Read Intelliconnect) »

IRS seeks comments on substantiation of fringe benefits

The IRS is soliciting comments on regulations concerning taxation of fringe benefits and exclusions from gross income for certain fringe benefits, listed property, and substantiation of business expenses. For more information, see ¶2060L.

(Read Intelliconnect) »

Pension Plan Guide News

PBGC issues guidance on determination of premiums under MAP-21

The PBGC has issued a technical update providing guidance on how the determination of premiums is affected by the enactment of the Moving Ahead for Progress in the 21st Century Act (MAP-21; P.L. 112-141). For more information, see ¶19,975Z31.

(Read Intelliconnect) »

IRS to add second session to September 7 Phone Forum on correction of 401(k) plan errors

The IRS is adding a second session to its September 7, 2012 phone forum on the correction of common mistakes in 401(k) plans. Registration for the 2:00 p.m. session of the previously announced September 7, 2012 phone forum on correction of 401(k) plan errors has reached capacity and is closed. For more information, see ¶116E.

(Read Intelliconnect) »

PBGC completes corrective work on United Airlines, agency apologizes and begins back payments

The PBGC has announced that it had completed its review of United Airlines pension assets; that, in 2008, it had undervalued United’s pension assets by about three-fourths of one percent, and, as a result, it will increase slightly the benefits of some United retirees and will be making back payments with interest to those who have already been underpaid. For more information, see ¶115T.

(Read Intelliconnect) »