Updates
DOL Issues FAQs on Participant-Level and Service Provider Disclosure Rules
The Department of Labor's Employee Benefits Security Administration on May 7 issued a series of frequently asked questions (“FAQs”) that provide follow-up guidance to the Department’s final regulations on participant-level fee disclosure rules. These rules under section 404 of ERISA were released in October 2010. The FAQs also provide guidance related to the final disclosure rules related to service provider disclosure to employers under section 408(b)(2).… More
House and Senate to Start Work on Transportation Legislation Conference with Interest Stabilization Provision
Both the House and Senate have named conferees to work out the details of a House-Senate transportation reauthorization bill. The first meeting of the conferees is scheduled for this week. ERIC has been meeting with House members to advocate for the inclusion of the interest stabilization provision included in the Senate bill. … More
ERIC Offers Recommendations to Improve Treasury Lifetime Income Guidance
ERIC on May 2 submitted to the Department of Treasury and Internal Revenue Service a series of three comment letters in response to their February 2012 package of proposed regulations and revenue rulings regarding lifetime-income options for participants and beneficiaries in retirement plans. … More
HHS Releases Bulletin on Verification of Access to Employer-Sponsored Coverage
The Department of Health and Human Services on April 26 issued a bulletin asking for input on both an interim and a long-term strategy for purposes of verifying an employee’s access to a subsidy for coverage in an Exchange. The verification process laid out in this Bulletin intertwines with the two reporting notices issued by the IRS. … More
IRS Requests Comments on Options for Determining “Minimum Value” of Health Coverage and Reporting Requirements
The Internal Revenue Service on April 26 released proposed preliminary guidance (Notice 2012-31) describing and requesting comments on… More
CMS Bulletin Addresses Applicability of Medical Loss Ratio Rules to Types of Plans
An April 20 bulletin by the Centers for Medicare and Medicaid Services addressing frequently asked questions regarding the Medical Loss Ratio regulation confirms that self-insured plans are not subject to the MLR reporting and rebate requirements.… More
Social Security and Medicare Trustees Again Sound Program Funding Warnings
The Social Security and Medicare Boards of Trustees on Monday (April 23) released their annual trust fund reports on the fiscal health of… More
House Committees Move on Budget Savings Measures, Despite Lack of Agreement with Senate
Various House committees are moving forward on approving budget savings measures called for under the House-approved budget resolution (aka,… More
ERIC and Epstein Becker Green Announce Inaugural Edition of Quarterly Benefits Litigation Update
ERIC announces the inaugural edition of the quarterly Benefits Litigation Update, a joint project of ERIC and the law firm of Epstein Becker Green. The Update will provide a featured article addressing an important trend or topic currently being discussed in the benefits community and select case summaries involving noteworthy benefits litigation issues.… More
ERIC Calls on Congress to Preserve Employer-Provided Retirement System
Washington, D.C. -- ERIC on April 17 joined 28 other trade associations in submitting a statement for the record for a House Ways and Means… More
House Ways and Means Committee Examines Retirement Tax Incentives
The House Ways and Means Committee on April 17 heard early testimony examining tax incentives for retirement saving as part of the… More
SEC Extends Comment Period on Proposed Rule on Target Date Fund Marketing
The Securities and Exchange Commission recently announced that it is reopening the comment period on a proposed rule that would modify the… More
ERIC Continues Advocating for Pension Funding Stabilization Legislation
Congress returned this week following a two-week spring recess, and will now have until June 30 to approve transportation reauthorization… More
IRS FAQ Addresses Tax Treatment of Medical Loss Ratio Rebates
The Internal Revenue Service recently issued an update addressing the federal tax consequences to a health insurance issuer that pays a… More
IRS Release Proposed Regulation on ACA Comparative Effectiveness Fee
The Internal Revenue Service on April 12 released proposed regulations to implement and provide guidance on the fees imposed by the… More
EBRI Study Finds Curtailing Tax Treatment of 401(k)s Could Reduce Balances
According to research by the Employee Benefit Research Institute, a proposal to change the tax preferences for employment-based 401(k)… More
Senate HELP Committee Chairman Harkin Introduces Rebuild America Act
Senator Tom Harkin (D-IA), Chair of the Senate Health, Education, Labor and Pensions Committee, has introduced “Rebuild America… More
Congress Approves Short-Term Extension of Highway Funding Without Interest Stabilization Provision
The House and Senate failed to include the interest stabilization provision for single-employer pension plans last week when… More
House Approves Ryan Budget Proposal; Sets Up Showdown with Senate
The full House on March 29 approved the budget proposal released the previous week by House Budget Committee Chairman Paul Ryan… More
Supreme Court Completes Three Days of Oral Arguments over Affordable Care Act
The U.S. Supreme Court last week wrapped up three days of oral arguments examining the key question of whether central parts of the Affordable Care Act (ACA) are constitutional. Now comes the waiting game for the Court to make a final decision, expected in June before the end of the Court’s term.… More
ERIC Urges DOL to Permit Broader Use of Electronic Media for Participant Disclosures
ERIC, along with a coalition of 14 other business trade associations, strongly urged the Department of Labor to permit broader use… More
Supreme Court Releases Audio Recordings of Oral Arguments of Constitutionality of ACA
The U.S. Supreme Court has released audio recordings and written transcripts of the three days of oral arguments on the… More
House Approves IPAB Repeal with Medical Malpractice Provision
The full House on March 22 approved on a mostly party-line vote of 223-181 legislation (H.R. 5) to repeal the Independent Payment Advisory… More
Agencies Release FAQs on Implementation of Summary of Benefits and Coverage
The Departments of Labor, Treasury, and Health and Human Service on March 19 published a set of Frequently Asked Questions (FAQ) on the… More
House Budget Chairman Ryan Releases Fiscal Year 2013 Budget Proposal
House Budget Committee Chairman Paul Ryan (R-WI) this morning released a $3.5 trillion budget proposal for fiscal year 2013, dubbed… More
