Legislative & Regulatory Updates

2015 Employee Benefit Plan Limits

This handy reference includes 2015 limits for employee benefit plans, Social Security benefits, Medicare prescription drug benefits, and Health Savings Accounts (HSAs). As a point of comparison, 2014 plan limits are also included.

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IRS Publishes Draft Forms for Employer Reporting of Health Coverage

On July 24, 2014, the IRS published draft forms that, once finalized, will be used by employers to fulfill certain ACA reporting requirements in connection with group health plan coverage offered to employees and their dependents.

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Pension Funding Relief Extended - Act Quickly

Written By Colleen Lowmiller

On August 8, 2014, the President signed the Highway and Transportation Funding Act of 2014. Plan sponsors of calendar pension plans can choose to reduce pension contribution requirements and show improved funded levels for 2013 if they act quickly by the September 15, 2014 contribution deadline.

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Two Federal Court of Appeals' Decisions Inject Further Uncertainty into the ACA

On July 22, 2014, two federal Courts of Appeals issued conflicting decisions on an important issue under the Patient Protection and Affordable Care Act ("ACA"): whether an individual who purchases health coverage on a federally-facilitated Marketplace (aka an Exchange) could qualify for premium tax credits.

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Proxy Voting - SEC Staff Legal Bulletin No. 20

Just released, the SEC has provided guidance for investment advisers and proxy advisory firms regarding their responsibilities in voting shares and/or advising clients.

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FASB Clarifies Stock Compensation Accounting for Performance Awards

Written By Marc Stockwell

For employers who grant performance based stock awards that could potentially "vest" after the employee has separated from service, FASB has clarified that the awards should be expensed using the date of grant price and the actual financial performance during the performance period. This update is applicable to many performance based awards which often require achievement of financial performance despite the death or retirement of the employee prior to the end of the performance period.

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Important Guidance Issued on COBRA/Marketplace Coverage Interplay

The Department of Labor (DOL) and Department of Health & Human Services (HHS) issued several pieces of guidance regarding the interplay between COBRA and new Marketplace coverage. The guidance provides important information and clarification to both plan administrators and plan participants regarding their opportunities and obligations.

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IRS Releases 2015 Indexed Amounts for HSAs, HDHPs

On April 23, the U.S. Treasury Department and Internal Revenue Service (IRS) released Revenue Procedure 2014-30, which lists the 2015 indexed amounts, adjusted for inflation, for health savings accounts and high-deductible health plans (HDHPs).

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FAQ – Health Care Reform Shared Responsibility Rules
Based on questions posed during 3.21.13 webinar

1. Does membership in an industry association cause any issue with the aggregation rules to determine applicable large employer status?
No. An employer's common ownership with other entities meeting certain percentage thresholds is required (generally 80% common ownership). Caution - There may be attribution of ownership between family members, estate planning trusts, and other entities.

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Employer Shared Responsibility Rules Delay and Q & A

On February 10, 2014, an employer's path towards complying with the Affordable Care Act took another twist and turn. The White House announced further delays in the Employer Shared Responsibility Rules under IRC Section 4980H. The IRS and Treasury then quickly followed up with the release of a Fact Sheet and a set of 46 Questions and Answers.

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Employee Benefit Plan Limits for 2014

Findley Davies' guide summarizes retirement plan, social security, Medicare Part D and Health Savings Account limits for 2014 with a comparison to 2013.

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