Pension & Benefits NetNews – September 4, 2013

 

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Featured This Week

Employee Benefits Management News

  • Proposed guidance on employee health insurance tax credit of small employers issued
  • Study shows need for more focus on potential impact of ACA on workforce disability and absence management
  • IRS finalizes regulations on individual penalty for not maintaining coverage under Affordable Care Act
  • IRS says all legal same-sex marriages will be recognized for federal tax purposes

Pension Plan Guide News

  • IRS will recognize all legal same-sex marriages for federal tax purposes
  • DOL obtains consent judgment leading to repayment of more than $2.3 million to employee benefit plans
  • Investment advisory firm, officers ordered to restore over $600,000 to employee benefit plans

Employee Benefits Management News

Proposed guidance on employee health insurance tax credit of small employers issued

The IRS has released proposed regulations that provide guidance on the Code Sec. 45R tax credit available to certain small employers offering health insurance coverage to their employees. The proposed regulations affect certain taxable and tax-exempt employers. For details, see ¶2070A.

(Read Intelliconnect) »

Study shows need for more focus on potential impact of ACA on workforce disability and absence management

A new study released jointly by the Disability Management Employer Coalition (DMEC) and Pacific Resources points to a need for more focus on the potential impact of the Patient Protection and Affordable Care Act (ACA) on workplace disability and absence management programs. For details, see ¶2070B.

(Read Intelliconnect) »

IRS finalizes regulations on individual penalty for not maintaining coverage under Affordable Care Act

The IRS has issued final regulations relating to the requirement to maintain minimum essential coverage enacted by the Patient Protection and Affordable Care Act (ACA). For more information, see ¶2070C.

(Read Intelliconnect) »

IRS says all legal same-sex marriages will be recognized for federal tax purposes

The U.S. Department of the Treasury and the Internal Revenue Service (IRS) have ruled that same-sex couples, legally married in jurisdictions that recognize their marriages, will be treated as married for federal tax purposes. The ruling applies regardless of whether the couple lives in a jurisdiction that recognizes same-sex marriage or a jurisdiction that does not recognize same-sex marriage. For more information, see ¶2070F.

(Read Intelliconnect) »

Pension Plan Guide News

IRS will recognize all legal same-sex marriages for federal tax purposes

The Treasury Department and the IRS announce that all legal same-sex marriages will be recognized for federal tax purposes. This ruling provides certainty, benefits and protections under federal tax law for same-sex married couples. For more information, see ¶123E.

(Read Intelliconnect) »

DOL obtains consent judgment leading to repayment of more than $2.3 million to employee benefit plans

The trustees of the pension plan, annuity fund and vacation fund of Exhibition Employees Local 829 of the International Association of Theatrical Stage Employees in New York repaid a total of $2,256,817, with an additional $50,000 scheduled to be paid, to the funds following a consent judgment, which came after a Labor Department investigation revealed numerous violations of ERISA. For more information, see ¶122Z.

(Read Intelliconnect) »

Investment advisory firm, officers ordered to restore over $600,000 to employee benefit plans

In a consent judgment obtained by the DOL, an investment advisory firm was ordered to pay $602,018 in restitution for plan losses and restoration of the improper incentive fees, plus lost opportunity costs and penalties. For more information, see ¶122W.

(Read Intelliconnect) »