Tag Archives: Employee benefits

Changes to Forms 5500 Ring in the New, Keep Some of the Old

Preparing employer benefit plans’ annual filings to federal agencies can be detailed and time-consuming. A review of recent changes to the 2014 Form 5500 series indicates this process could become even more laborious for some plans, as the government seeks…

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GAO Recommends New Destinations for Forced 401(k) Transfers

Distributing abandoned small accounts in the 401(k) plans of participants who have left the company is a necessary evil for plan sponsors, to keep the plan focused on managing larger, active holdings and controlling costs. Despite the benefits for the…

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Health Care Reform Mandates: Impending Dates

The next three months are crunch time. Employers have to get moving on several deadlines, most of them required under health care reform. Some reform rules should have taken effect in 2014, but were subject to the year-long delay instituted…

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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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