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Benefits Byte: All 2007 Issues

December 28, 2007

  • Treasury and IRS Publish Hybrid Plan Proposed Regulations
  • Treasury and IRS Release Proposed Funding Rules
  • Update: End of the Year Regulatory Items; Klein to Speak on EEOC Retiree Health Regulations on Fox News

December 21, 2007

  • EEOC Releases Final Regulations on Retiree Health
  • Additional Materials Now Available Regarding Legislative Wrap-Up
  • Regulatory Agencies: More Guidance is Coming
  • DOL Proposes Regulations on Penalties under PPA Disclosure Requirements
  • IRS Waives Information Return Reporting Requirement for 2007 ISO Transfers
  • IRS Issues Guidance for Determining "Qualifying Relative"
  • PBGC Addresses Determination of Present Value of Maximum Guaranteed Benefit
  • PBGC Finalizes Regulations on Premium Rates

December 20, 2007

  • Legislative Roundup: House Passes Medicare Bill, AMT Patch Without Offsets
  • IRS Extends Transition Relief for Employer Stock Diversification

December 18, 2007

  • House Again Passes Military Tax Bill with Benefits-Related Provisions
  • Senate Approves Scaled-Down Medicare Legislation
  • Council Submits Preliminary Comments to IRS on Automatic Contribution Guidance

December 14, 2007

  • Senate Approves Military Workers Tax Bill with Benefits Provision
  • Council Summary of Proposed Disclosure Regulations Now Available
  • Medicare Update: Employers Voice Concerns to Congress

December 13, 2007

  • Harkin, Kohl Introduce 401(k) Fee Bill in Senate
  • House Passes AMT Bill with Revenue-Raising Provisions

Decembe 12, 2007

  • DOL Proposes Guidance on Fee Disclosure Between Service Providers and Benefit Plans
  • House Passes AMT Bill, Again with Revenue-Raising Provisions
  • GAO Issues Report on Savings, 401(k) Plans; Miller to Push Fee Legislation in 2008

December 7, 2007

  • Nonqualified Deferred Compensation Update: Senate Passes AMT Bill without Revenue-Raising Provisions
  • PBGC Proposes Regulations on Disclosure of Termination Information Upon Request by Affected Parties
  • IRS Issues Guidance on Corporate Bond Rate

December 6, 2007

  • Council Recommends Issues for Follow-Up QDIA Guidance
  • IRS Hears Testimony on Disability Benefits Under Qualified Plans
  • House Committee Probes Executive Compensation Consultants

December 3, 2007

  • Council Comments on Proposed Regulations for Benefit Restrictions
  • District Court Rules on Remedies in Citigroup Pension Plan ERISA Litigation
  • IRS Issues Notice Allowing 409A Corrections
  • PBGC Provides Guidance on Flat Premium Rates, Reporting Rules, Lump Sum Assumptions

November 29, 2007

  • Council Files Comment Letter on Normal Retirement Age Guidance
  • IRS Issues Guidance Includes Model Amendments for 403(b) Plans
  • SEC Releases Proposed Rule on Mutual Fund Disclosure

November 21, 2007

  • Council Submits Comments on Proposed Regulations Regarding Accident and Health Benefits Under Qualified Plans
  • IRS Releases Covered Compensation Tables

November 16, 2007

  • Senate Delays Action on Tax Bill with Benefits-Related Provisions, Including Nonqualified Deferred Compensation
  • SEC Covers Mutual Fund Disclosure at Open Meeting

November 15, 2007

  • DOL Releases Final Regulations Revisions to Form 5500 Annual Return/Report
  • Treasury Issues Sample Automatic Enrollment Notice
  • PBGC Announces Lower Deficit; Council Issues Statement

November 14, 2007

  • Defined Contribution Plan Fee Legislation Chart Updated
  • House-Passed AMT Bill Now Headed for Senate Vote
  • Council Submits Comment Letter to DOL on Selection of Annuity Providers for Individual Account Plans

November 9, 2007

  • House Approves COBRA Coverage Expansion and Tax Credit for Employees Displaced Due to Adverse Trade Impact

November 8, 2007

  • Council Testifies Before House Subcommittee on Safe and Sound Retirement Goals

November 7, 2007

  • Treasury, IRS Release Proposed Regulations on Automatic Enrollment

November 6, 2007

  • National Coalition on Benefits Launched, Council to Co-chair Legal and Legislative Subcommittee
  • IRS Issues Updated Mortality Tables for Calculating Lump Sum Distributions, News Flash on 204(h) Notices

November 5, 2007

  • Council Submits Comments on New Proposed Regulations for Section 125 Cafeteria Plans

November 2, 2007

  • CORRECTION: Ways and Means Committee Passes Temporary Tax Bill with One-Year AMT Relief

November 1, 2007

  • Ways and Means Committee Approves Tax Bills with Employer Benefit Plan, Deferred Compensation Provisions
  • Agreement Reached Between New York Attorney General and CIGNA on Physician Quality and Cost Rankings

October 30, 2007

  • Council Testifies at House Ways and Means Committee Hearing on 401(k) Fees
  • House Committees Approve COBRA Coverage Expansion and Tax Credit for Certain Employees
  • Premium Assistance Provisions of CHIP Legislation Pose Administrative Burden For Employer-Sponsored Plans

October 26, 2007

  • Rangel Unveils Tax Bill Including Revenue-Raising Deferred Compensation Provisions
  • Council to Testify at Ways and Means Hearing on 401(k) Fees

October 24, 2007

  • Council Testifies at Senate Aging Committee Hearing on 401(k) Fees

October 23, 2007

  • DOL Releases Final QDIA Regulations
  • U.S. District Court for the District of Columbia Orders Release of Medicare Data
  • IRS Provides Further Guidance on 409A Extension

October 22, 2007

  • IRS Provides One-Year Extension of 409A Deadline
  • Council, Others Oppose End-Stage Renal Disease Provision in SCHIP Bill

October 19, 2007

  • CORRECTION: Treasury, IRS Guidance Non-spouse Beneficiary Rollovers Remain Optional
  • Regulatory Agencies Announce Cost of Living Adjustments for 2008 Tax Year

October 18, 2007

  • Legislation to Delay PPA Funding Rules Introduced
  • House Committee Approves Legislation Expanding COBRA Eligibility, Barring Sexual Orientation Employment Discrimination
  • Treasury, IRS Amend Rules for Non-spouse Beneficiary Rollovers
  • Bill Introduced to Limit Deferral for Offshore Fund Managers

October 16, 2007

  • House Energy and Commerce Committee Passes Mental Health Parity Legislation

October 12, 2007

  • Hybrid Plan/Backloading Update: New Letter Sent to Treasury
  • DOL Releases Advance Copies of 2007 Form 5500, Guidance on Timing of Individual Benefit Statements

October 10, 2007

  • House Energy and Commerce Health Subcommittee Passes Mental Health Parity Legislation
  • Clinton Announces "American Retirement Accounts" Plan
  • IRS Issues Updated Yield Curve Rates

October 9, 2007

  • IRS Releases PPA Guidance on Yield Curve

October 5, 2007

  • Education and Labor Committee Hears Testimony on 401(k) Fee Legislation ...
  • ... As Neal Introduces Alternative Plan Disclosure Legislation

October 3, 2007

  • Regularly Updated Status Reports Now Available on Council Web Site
  • Council Again Rallies Business Groups to Urge Extension of 409A Deadline
  • DOL Issues Guidance on "Safest Available Annuity" on September 11

September 28, 2007

  • House Ways and Means Committee Members Send Letter to Treasury on Backloading, Hybrid Plans
  • Legislation Introduced to Protect Pension Plan Participants in Business Bankruptcies

September 26, 2007

  • House Ways and Means Committee Passes Mental Health Parity Legisation

September 21, 2007

  • Council Testifies for ERISA Advisory Council on Fiduciary Responsibilities and Revenue Sharing
  • IRS Halts Determination Letter Applications for Certain Defined Contribution Plans

September 20, 2007

  • Business Groups Write Treasury, Congress Advocating Asset Smoothing

September 19, 2007

  • Senate Passes Mental Health Parity Legisation, House Bill Approved in Subcommittee Markup

September 18, 2007

  • Council Testifies for ERISA Advisory Council on Benefits Statements
  • PBGC Releases Five-Year Strategic Plan
  • DOL Issues Proposed Regulations on Multiemployer Plans and Information Availability

September 14, 2007

  • Treasury Letter to Congress Confirms that Application of Excise Tax for Exceeding Combined Plan Limit will Follow PPA Technical Corrections Language

September 12, 2007

  • Correction and Update: Excise Tax for Exceeding Combined Plan Limit Was Due July 31
  • Mental Health Parity Update: Ways and Means Hearing Scheduled, CBO Score Released

September 11, 2007

  • Plan Sponsors Exceeding Combined Plan Limit Contributions May Need to File Excise Tax Return by September 15

September 10, 2007

  • Treasury and IRS Provide Some 409A Relief

September 7, 2007

  • Hearings on Hedge Funds Held by Senate Finance and House Ways and Means Panels
  • Senate Special Aging Panel Hears Testimony on Financial Designations that May Mislead Older Investors
  • Millard Suggests Possible PBGC Investment Structure Changes During Senate HELP Hearing

September 5, 2007

  • Senate Leaders Ask Treasury, IRS to Reconsider Position on Backloading Rules

August 30, 2007

  • Council, Others Request Delay in 409A Regulations

August 28, 2007

  • Treasury Issues Proposed Regulations on Funding Balances, Benefit Restrictions

August 27, 2007

  • Sixth Circuit Appeals Court Rules that Cash Balance Plans Are Not Age Discriminatory
  • U.S. District Court for the District of Columbia Orders Release of Medicare Data
  • Council Files Comment Letter Regarding Treasury Proposed Rule on Mortality Tables Used in Defined Benefit Plan Present Value Calculations

August 23, 2007

  • Third Circuit Court Declines to Rehear EEOC-AARP Retiree Health Case

August 22, 2007

  • Council, Others Urge Treasury to Explore Resolution of Backloading Issue
  • IRS Issues Proposed Regulations Regarding Tax Treatment of Payments by Qualified Plans for Medical or Accident Insurance
  • Ways and Means Committee Schedules Hearing on Issues Relating to Pension Funds

August 14, 2007

  • Treasury and IRS Issue Priority Guidance for 2007-2008
  • EBSA Sets Forth Penalties for Diversification Blackout Notice Violations
  • Mental Health Parity Update

August 3, 2007

  • Senate Mental Health Parity Measure Nears Floor Vote
  • PPA Technical Corrections Bill Introduced
  • Treasury Issues Proposed Regulations on Section 125 Cafeteria Plans
  • Legislation Introduced Requiring Reform of 12b-1 Fee Disclosures

July 31, 2007

  • Council Provides Comments to PBGC on Variable Rate Premiums
  • House Passes Ledbetter Pay Discrimination Bill
  • IRS Issues Technical Corrections for 409A Regulations

July 26, 2007

  • Miller Introduces 401(k) Plan Fee Disclosure Bill
  • Pay Discrimination Bill Introduced in Senate
  • DOL Releases Clarification on Final Treasury 403(b) Regulations

July 24, 2007

  • Council Provides 401(k) Plan Fee Input to DOL
  • Treasury Finalizes 403(b) Regulations
  • Treasury Preparing to Address 457 Bona Fide Severance Pay Plans, Substantial Risk of Forfeiture

July 19, 2007

  • Council, Others Submit Letter to Treasury on Pension Backloading Issue

July 18, 2007

  • Education and Labor Committee Rejects Senate Compromise, Passes House Mental Health Parity Bill
  • Ways and Means Reviews Social Security Number Privacy Legislation, Tax Rules on Expatriation
  • Suffolk County 'Fair Share' Law Overturned

July 16, 2007

  • Council Sends Letter to Education and Labor Committee Supporting Substitute Mental Health Parity Bill

July 13, 2007

  • ERISA Advisory Council Examines Benefits Statements and Other Issues, Council Testifies
  • House Education and Labor Schedules Mark-up of Mental Health Parity Bill
  • Wellness Bill Introduced in Senate

July 11, 2007

  • House Subcommittee Hears Council Testimony on Mental Health Parity Bills
  • Council Testifies Before ERISA Advisory Council on Financial Literacy

July 9, 2007

  • IRS Addresses Employer Contributions to Secular Trusts
  • IRS Warns Plan Sponsors of Late Applications for Opinion or Advisory Letters

June 29, 2007

  • GAO Releases Report on Conflicts of Interest and High Risk or Terminated Plans
  • Senate HELP Committee Approves Health IT Bill

June 28, 2007

  • Harkin Introduces Bill Tying Executive Compensation to Defined Benefit Plans
  • House Education and Labor Committee Approves Legislation Relating to Discrimination in Compensation and Benefits
  • President Bush Discusses Health Care, Backs Off Standard Tax Deduction

June 27, 2007

  • IRS Releases Guidance on Partial Plan Terminations
  • Senate HELP Committee Passes Bill Giving FDA Oversight of Follow-on Biologics

June 21, 2007

  • District Court Dismisses 401(k) Fee Suit Against Employer

June 15, 2007

  • Klein Testifies on Mental Health Parity before House Subcommittee
  • DOE Retracts Contractor Benefits Policy
  • Legislation Introduced to Expand HSAs
  • Military Tax Relief Bill Also Includes Expatriate Provision

June 13, 2007

  • New Legislation and GAO Report Address Hedge Funds and Pension Plans
  • IRS Issues Guidance on Staggered Remedial Amendment Periods
  • Military Tax Relief Bill Includes Differential Pay Clarification, Tax-Free Distributions

June 5, 2007

  • Third Circuit Rules for EEOC in Retiree Health Case
  • IRS Clarifies "Covered Employee" Definition under Section 162(m)

June 1, 2007

  • Treasury Department Issues Proposed Guidance on Comparable Contributions to HSAs, Accelerated Employer Contributions
  • New Hybrid Plan Litigation Chart Available
  • IRS Clarifies 401(k) Safe Harbor under Mid-Year Addition of Roth Contribution Program
  • IRS Releases Revenue Procedure for Substitute Mortality Table Requests

May 31, 2007

  • PBGC Proposes Variable-Rate Premium Guidance
  • Council Submits Amicus Brief in Cash Balance Case

May 24, 2007

  • Iraq Supplemental Bill Includes Some PPA Technical Corrections

May 23, 2007

  • Council Testifies Before House Subcommittee on State Health Initiatives
  • Treasury/IRS Propose Mortality Table Regulations

May 21, 2007

  • Council Educates Congress on Hybrid Plan Backloading Rules
  • Treasury Releases Final Phased Retirement Distribution Regulations
  • Council's Dudley Named to "Best in the Business" List

May 15, 2007

  • IRS Releases New Indexed Amounts for HDHPs, HSAs, IRAs

May 11, 2007

  • Council Submits Comments on Department of Energy Contractor Pension and Medical Benefits Cost Challenges
  • Council Submits Comment Letter on Benefit Types for Qualified DB Plans

May 9, 2007

  • Congressional Republicans Make Recommendations for Hybrid Plan Regulations
  • Waxman to Probe Executive Compensation Consulting Firms

May 7, 2007

  • Council Submits Request for Additional HSA Guidance
  • Council Comments on DOL Interim Final Rule on Qualified Domestic Relations Orders

May 4, 2007

  • Council Urging Senate to Limits on Excessive Remedies in Genetic Nondiscrimination Bill
  • Women's Retirement Bill Introduced in Senate
  • President Bush to Nominate New EBSA Head, PBGC Executive Director

May 3, 2007

  • Council Testifies on Pension Reform Before House Subcommittee

May 2, 2007

  • Council Provides More Detail on Final Roth 401(k) Regulationss

April 27, 2007

  • House Approves Genetic Nondiscrimination Bill
  • Treasury/IRS Release Final Roth 401(k) Distribution Regulations

April 24, 2007

  • DOL Seeks Comments on Fee Disclosure to Participants

April 21, 2007

  • Lawmakers Drop Nonqualified Deferred Compensation Provision from Iraq Supplemental Spending Bill

April 20, 2007

  • House Approves Legislation on Shareholder Votes and Executive Compensation

April 18, 2007

  • Medicare Noninterference Bill Fails to Gain Support in Senate Vote
  • Maryland Will Not Challenge Court Ruling on "Fair-Share" Act

April 16, 2007

  • Comment Letters Filed by the Council: PPA Age 62 Distribution Provision, Treasury/IRS Cash Balance Guidance

April 10, 2007

  • Treasury/IRS Releases Section 409A Regulations

April 4, 2007

  • IRS/Treasury Release Final Section 415 Regulations
  • CMS Issues Updated Guidance on Creditable Coverage Disclosure Notices

March 30, 2007

  • DOE Seeks Advice on Managing Cost of Contractor Benefits
  • Health Plan Tax Equity Bill Introduced in House

March 29, 2007

  • Executive Compensation Update: House Committee Approves Executive Compensation Legislation, Senate Measure Attached to Spending Bill

March 27, 2007

  • House Committee Considers Mental Health Parity Legislation; Council Urges Support for More Moderate Senate Alternative

March 26, 2007

  • Genetic Nondiscrimination Bill Clears House Committees
  • U.S. Supreme Court Declines to Hear Xerox Pension Case; Harmful 9th Circuit Decision Stands

March 16, 2007

  • House Education and Labor Subcommittee Holds Hearing on the Uninsured
  • Council Submits Comment Letter on IRS Diversification Requirements
  • Bush Administration Rejects Recommendations from Citizen's Health Care Working Group
  • Council Files Amicus Brief in Drutis v. Rand McNally Age Discrimination Case

March 14, 2007

  • House Ways and Means Committee Discusses Revenue Raising Provisions in Minimum Wage Bill
  • Senate Finance Committee Holds Hearing on Universal Health Care
  • IRS Provides Deduction Limit Guidance

March 8, 2007

  • Mental Health Parity Bill Introduced in House
  • House Financial Services Committee Hears Testimony on Executive Compensation
  • DOL Releases Interim QDRO Regulations

March 6, 2007

  • House Education and Labor Committee Holds Hearing on 401(k) Fees, Council Testifies
  • Oral Arguments Heard in Appeal of AARP v. EEOC

February 21, 2007

  • Senate Committee Hears Testimony on Aging Workforce
  • House Education and Labor Committee to Examine 401(k) Fees
  • House Financial Services Committee to Hold Hearing on Executive Compensation

February 20, 2007

  • Analysis of IRS Guidance on Rollovers to HSAs

February 15, 2007

  • House Education and Labor Committee Approves Genetic Nondiscrimination Bill
  • IRS Releases Guidance on Rollovers to HSAs
  • Missing Non-Spouse Beneficiary Rollovers Required for Terminating Plans

February 14, 2007

  • Mental Health Parity Bill Approved by Senate HELP Committee on Bipartisan Vote
  • IRS Clarifies Non-Spouse Rollover Distributions
  • DOL, EBSA Issue Rule on Cross-Trading Statutory Exemption

February 13, 2007

  • Baucus Outlines Health Care Principles, Senate Finance Committee Health Agenda

February 12, 2007

  • Mental Health Parity Bill Introduced in the Senate
  • House Ways and Means Committee Approves Tax Bill Without Nonqualified Deferred Compensation Offsets

February 9, 2007

  • House Ways and Means Committee to Mark Up Tax Bill Without Nonqualified Deferred Compensation Offsets

February 8, 2007

  • IRS Announces Limited 409A Compliance Resolution Program
  • President's Budget Proposes Means Testing for Medicare Part D Premiums
  • Summary Chart of PPA's Effects on Defined Contribution Plans Now Available

February 5, 2007

  • Bush Administration Releases Budget Proposals for 2008 Fiscal Year

February 1, 2007

  • Senate Panel Prepares to Act on Mental Health Parity Legislation
  • Treasury/IRS Release Final Regulations on Mortality Assumptions
  • Treasury/IRS Consider Guidance on Benefits That Can Be Provided in DB Plans

January 29, 2007

  • Administration Releases Further Details on Its Health Insurance Tax Proposal
  • Senate Adopts Resolution Promoting Personal Retirement Savings

January 23, 2007

  • White House Provides Additional Details on Taxation of Health Benefits Proposal
  • Now Available: Letters to Congress Opposing Executive Compensation Provision in Tax Bill

January 22, 2007

  • Legislative Language on Executive Compensation Proposal Now Available

January 20, 2007

  • President Expected to Propose New Standard Deduction for Health Insurance and Assist State Health Reform Efforts

January 17, 2007

  • Senate Finance Committee Approves Limits on Executive Compensation
  • Fourth Circuit Affirms Appeal Arguments in Challenge to Maryland's "Fair-Share" Act
  • Surprising Distribution Guidance on Explanation of Right to Defer

January 16, 2007

  • Senate Finance Committee to Consider Provisions Limiting Nonqualified Deferred Compensation
  • New Developments in Cash Balance Litigation

January 12, 2007

  • Medicare Prescription Drug Issue Discussed in Senate Finance Committee, House
  • Council Submits Letter to Treasury on Defined Benefit Plan Asset Smoothing Rules
  • More Determination Letter Filing Insights

January 10, 2007

  • Treasury, IRS Release "Grab Bag" of Guidance on Distribution Requirements
  • Council Comments on Proposed Changes to Form 5500

January 9, 2007

  • Some Hybrid Plans May Need to File Again by January 31
  • Former APPWP Executive Director Weizmann Nominated OPM Deputy Director