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Lawmakers told Phyllis Borzi, head of the Department of Labors Employee Benefits Security Administration (EBSA) on Tuesday, to repropose the agency's controversial regulation amending the definition of fiduciary under the Employee Retirement Income Security Act (ERISA), because the definition offered is too broad and because EBSA failed to examine the...
The Employers Council on Flexible Compensation (ECFC) is asking the Internal Revenue Service (IRS) to clarify where flexible savings arrangements (FSAs) fit in with the new Form W-2 health benefits reporting requirements.
The Patient Protection and Affordable Care Act (PPACA) imposes a new fee on "specified health insurance policies" and "applicable self-insured health plans" effective for plan years ending after Sept. 30, 2012. The new fee, according to IRS guidance, will be based on "the average number of lives covered under the...
Retirement planning officials take note: The Obama administration is ramping up enforcement efforts to combat the large number of retirement plans that it says are not compliant with retirement planning rules and regulations.
Experts at the American Society of Pension Professionals & Actuaries say electronic delivery for legally required defined contribution plan disclosures is more user-friendly and will help plan participants more easily understand and respond to the information provided.
Whether its shady politics or just bad math, proposals to curb retirement plan tax incentives are not only detrimental for low-income savers, they're based on inflated calculations, experts said this week.