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Fundamentals of 401(k) and Other Qualified Plans - Chicago
August 18, 2015 in IL
(SunGard Relius)

IRA Basics
September 17, 2015 WEBCAST
(Ascensus)

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[Guidance Overview]

The ACA Reporting Requirements for Carriers and Employers (Part 1 of 24)
"Alden Bianchi ... [explains] key requirements [in these 24 weekly installments] as he counts down to the January 2016 ACA reporting deadlines.... At the core of Form 1095-C are three questions (lines 14, 15 and 16) that solicit information about three disparate ACA provisions. Line 14 asks about offers of coverage relating to the ACA individual mandate (Code Section 5000A); line 15 asks about the amount of the employee contribution for purposes of assessing an individual's eligibility for premium tax credits (Code Section 36B); and line 16 relates to the applicable large employer's compliance with the employer shared responsibility rules (Code Section 4980H). Moreover, compliance in each case is determined by month." (Mintz Levin)  

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[Guidance Overview]

Top 10 Updates to the California Family Rights Act Regulations
"[1] Employers must display new poster regarding [California Family Rights Act (CFRA)] rights ... [2] Extended health insurance continuation requirement ... [3] Employers now have only five business days to respond to CFRA leave requests ... [4] Substitution of vacation, PTO or paid sick leave during a CFRA leave ... [5] Time increments for intermittent leave ... [6] New light duty requirement when only intermittent leave is required ... [7] CFRA's protections expanded to broader group of employees ... [8] Successors in interest are 'covered employers' and additional guidance on joint employer situation ... [9] Reinstatement rights ... [10] New certification of health care provider form." (Bryan Cave LLP)  

Plan Manager Was Not a Fiduciary for Purposes of Subrogation Claim Standing
"The court noted that it is possible for a third-party service provider to be a fiduciary even if it exercises only some discretionary authority, but held that Humana's services were ministerial because they were governed by the framework set up by the plan, and supervised by [the employer]." [Humana Health Plan, Inc. v. Nguyen, No. 14-20358 (5th Cir. May 11, 2015)] (Begos Brown & Green LLP)  

Health and Welfare Benefits for Same-Sex Spouses After Obergefell: A New Mandate for Employers?
"[P]ost-Obergefell, the EEOC reaffirmed its position that discrimination based upon sexual orientation is unlawful discrimination 'based on sex' under Title VII ... [If] a private sector employer decided to offer health insurance benefits to opposite-sex spouses but not same-sex spouses, it seems very likely the EEOC would take the position that such a practice is unlawful sex discrimination under Title VII." (Bradley Arant Boult Cummings LLP)  

Private Exchanges Bring More Health Plan Choices at Work. What's the Catch?
"Despite the benefits to a company's bottom line, and more choices for employees, ... relatively few businesses [are] using a private health insurance exchange. According to research by the Kaiser Family Foundation, last year only 3 percent of employers (excluding the federal government) insure their employees this way. But it's a trend that some experts expect to pick up steam soon." (National Public Radio)  

Millennials -- the 'Digital Natives' -- Are Changing Health Care
"[M]illennials are willing to change their behavior to get better service or a better price.... 54 percent will delay health care due to its cost, compared to 18 percent of seniors. 46 percent are willing to switch providers for price reasons. 43 percent are willing to go out-of-network for care. 56 percent are willing to wait a few days when seeking care for a child." (The Alliance)  

Nondiscrimination in Coverage of Alternative Health Care: States Stepping Up
"The national associations of integrative health care providers such as the naturopathic physicians, chiropractors, and acupuncturists have repeatedly asked the HHS for explicit examples of what constitutes discrimination and what does not. The revised FAQ released at the end of May is thought to be an improvement over the original and may give state insurance commissioners more leeway to act, but it does not contain any such examples.... For the remainder of 2015 and going into 2016, expect to see continued coalescence of integrative health providers in the states, including participation by patient groups that will replicate the legislation in Oregon and in Rhode Island[.]" (Altarum Institute)  

Five Ways to Make Shopping for Health Insurance Easier
"New health benefit models available under the ACA open up affordable health insurance alternatives to [small and medium businesses (SMBs)]. But new options can also leave business executives with more questions than answers.... [1] Understand the value of health benefits.... [2] Set a budget.... [3] Are you on the hook for the ACA employer mandate? ... [4] Evaluate your options.... [5] Determine which type of plan works best for your business." (Entrepreneur)  

Clinic Network with a Health Plan Looks to Upend Entrenched System
"At 28 neighborhood clinics and 'advanced care studios' in Portland, Vancouver, Washington, and Seattle, Zoom patients get team-based care from MDs, NDs, NPs, and PAs, with same day appointments, telemedicine, health coaching, food and exercise counseling, parenting help, mental health treatment and basic dental services, which will all come as part of the health plans." (Healthcare Payer News)  

Major Health Insurers Capitalize on Population Health
"[D]espite ... hurdles, providers are embracing payers' plans to help them implement alternative payment models... UnitedHealth's health services platform Optum -- whose offerings are sold to various doctors, insurers and self-insured employers -- racked up $26.4 billion in the first half of 2015, growing 15 percent year-over-year.... Aetna, meanwhile, has invested more than $1.5 billion in its population-health-driven Healthagen business ... And the company expects Healthagen's growth to accelerate when it combines with Humana, which boasts its own population health management businesses under the Transcend brand." (FierceHealthPayer)  

Recent Amendments Give California's Sick Leave Law a Much-Needed Shot in the Arm
"Despite several fixes to the paid sick leave law made by the amendments, questions still remain. Can an employer now include probationary periods by using the alternative accrual methods?... [W]hile regulations under the [FMLA] and California Family Rights Act (CFRA) permit employers to request doctors' notes in order to justify the use of leave under those laws, would an employee's use of paid sick leave under state law prevent the employer from requesting these notes?" (Ford & Harrison LLP)  

Feds Say 7.5 Million People Paid an Average Penalty of $200 for Not Having Health Insurance
"About 7.5 million Americans paid an average penalty of $200 for not having health insurance in 2014 -- the first year most Americans were required to have coverage under the [ACA] ... 76 percent of taxpayers -- three-quarters of the 102 million returns filed so far -- checked a box indicating they had qualifying insurance coverage all year. Counting another 7 million dependents who were not required to report their coverage but also filed returns, the proportion rises to 81 percent, the IRS said." (Kaiser Health News)  

[Guidance Overview]

IRS Proposes Regs to Ease Filing of Section 83(b) Elections
"The proposed regulations would eliminate the requirement ... that a copy of the section 83(b) election be submitted with an individual's tax return for the year the property is transferred. Section 83(b)(2) still will require that the executive file the 83(b) election with the IRS no later than 30 days after the date that the property is transferred to the executive. However, if the proposed regulation is finalized, beginning with property transferred on and after January 1, 2016, after the individual files his or her original 83(b) election, the IRS will scan and save it." (Winston & Strawn LLP)  

Pension/OPEB 2015 Assumption and Disclosure Survey (PDF)
"The 2014 median discount rate for pension plans in the survey decreased 80 basis points since 2013 and has decreased 225 basis points since 2007.... Median plan funding levels decreased since 2013, with pension plan assets equal to approximately 83% of the projected benefit obligation (PBO) in 2014 as compared to 90% in 2013.... The 2014 median discount rate for OPEB plans in the survey decreased 75 basis points since 2013 and has decreased 235 basis points since 2007.... The percentage of funded OPEB plans in the survey has remained constant since 2013 with 51% of plans being funded in both 2014 and 2013." (PricewaterhouseCoopers)  

IRS Updates Guide to Auditing Nonqualified Deferred Compensation Plans
"The [Nonqualified Deferred Compensation Audit Techniques Guide (June 2014)] notes that a NQDC plan that references the employer's 401(k) plan may contain a provision that could cause disqualification of the 401(k) plan. Code Section 401(k)(4)(A) provides that a 401(k) plan may not condition any other benefit (including participation in a NQDC) upon the employee's participation or nonparticipation in the 401(k) plan. The IRS will also review NQDC plans looking for a provision that limits the total amount that can be deferred between the NQDC plan and the 401(k) plan; it will look for a provision which states that participation is limited to employees who elect not to participate in the 401(k) plan." (Bradley Arant Boult Cummings LLP)  

What Skeletons Are Hanging in Your Closet? How to Ensure Good Plan Governance
"Consider establishing separate committees for plan design (settlor), plan administration (fiduciary), and plan investments (fiduciary), and ensure that each committee has a written charter approved by the board of directors.... [E]nsure that one entity is responsible for each specified duty. Review delegations of authority and committee appointments at least annually.... Preserve attorney-client privilege by ensuring that in-house counsel does not serve on a committee that will serve as a plan fiduciary.... [If] a plan includes employer stock in its investment lineup, avoid including senior executives with inside information about the employer on the plan investment committee." (Morgan Lewis & Bockius LLP, via Lexology)  

New Book: Employer's Quick Guide to 21 Voluntary Benefits Your Employees Will Love! (And Love You For Offering)
Rhodes-Joseph & Tobiason Advisors, LLC

Private Advisor Group is Certified for Investment Support Services
Centre for Fiduciary Excellence [CEFEX]

Lawsuit Returns More than $1M to Workers in Health Care Company’s Employee Stock Ownership Plan
Employee Benefits Security Administration [EBSA], U.S. Department of Labor

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