Tag Archives: Employee benefits

More IRS Guidance on ACA’s Health Coverage Reporting Rules

IRS on Aug. 29 issued two sets of questions and answers about reporting on health coverage for large employers under Section 6056 and for all employers under Section 6055 of the reform law. Section 6056 reporting is required by “applicable large employers” that provide…

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Texas, California Participants Top 401(k) Plan Loan Use

A study by Fidelity Investments of 13 million 401(k) investors across U.S. metropolitan regions pinpointed the cities where plan loans are most heavily used. The analysis found the greatest percentage of participants with outstanding plan loans, at 33 percent, in…

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Court Allows ERISA Plan to Deny Coverage to Same-Gender Spouse

A self-insured employer that explicitly excludes same-gender spouses from health plan coverage did not violate ERISA’s benefit interference or fiduciary breach provisions by having such exclusionary language, a federal district court in New York ruled. A same-gender couple had argued that, in…

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ABB Excessive Fees Ruling Affirmed, Fidelity Cleared of Float Interest Charge by 8th Circuit

A series of new decisions in Tussey v. ABB Inc. handed down by the 8th U.S. Circuit Court of Appeals on March 19 brought good news about allegations of excessive fees for all parties — the suing retirement plan participants,…

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Notre Dame University Denied Contraception Injunction

The 7th Circuit in a 2-1 ruling refused to grant a preliminary injunction to Notre Dame University, which would have freed the university from participating in reform’s requirement to provide contraceptives at no cost to all women. In so doing the court criticized…

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ACA Pay-or-play Mandate Loosened Again

Companies with 50-99 employees that do not offer health insurance to their workers will not be subject to fines for failing to provide coverage until 2016. This gives such mid-sized firms an additional year to prepare health coverage for workers,…

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Employers in Tax-break Pilot May Offer myRA Accounts by Late 2014

Employers may not feel much of an administrative burden from the new “starter” retirement savings accounts announced Jan. 28 in President Barack Obama’s State of the Union address, but those opting to participate should be prepared for employees’ questions about…

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Latest Data Shows Rise in 401(k) Assets; Equities Still Dominate

The average 401(k) account balance at the end of 2012 was 8.4 percent higher than the year before, but increased assets weren’t typical for all defined contribution plan participants studied, according to a December 2013 brief by the Employee Benefit…

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HHS Secretary Says Sorry Over Failed Launch of Health Care Reform Website

In apologizing for the failed launch of the healthcare.gov website, U.S. Health and Human Services Secretary Kathleen Sebelius conceded to a House committee panel that accessing the site has been a “miserably frustrating experience for way too many Americans.” She…

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Appellate Court Upholds Pension Plan’s Right to Stand by Employee’s Withholding Choice

A recent federal appeals court decision serves as a reminder that communicating with employees about their options for benefits calculation methods in defined benefit retirement plans is a very important aspect of preparing them adequately for retirement. Some DB plans…

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