December Legislative e-Lert: Technical Release 2011-03R and DOL Policy on Electronic Disclosure Generally

Friday, January 27, 2012

January 2012

VOLUME 8 ISSUE 1

CURRENT ISSUE | ARCHIVE

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The content for Legislative e-LERT comes from: Groom Law Group, an employee benefits law firm based in Washington, D.C.; Employee Benefits Institute of America (EBIA), a consortium of lawyers providing updates of retirement and health & welfare legislation and regulations; Mike Barry/Plan Advisory Services, who provides resources to plan sponsors to help them with the challenges presented by federal regulation of retirement plans; and ING's legal team. We hope you find this information helpful for understanding legislative and regulatory developments, but note that this information is not legal advice and should not be considered as such by any of our readers.

DOL Tweaks Interim Policy on Electronic Disclosure of Plan Fee Information
Recent Department of Labor Technical Release 2011-03 sets forth DOL's interim policy on the use of electronic disclosure for the information required by DOL's participant disclosure rule for participant-directed plans.
[FULL STORY]

"Cumulative List of Changes in Plan Qualification Requirements" for 2012 IRS Determinations (Cycle B)
Beginning February 1, 2012, the IRS will open the determination letter process to "Cycle B" plans. Sponsors of Cycle B plans should file their plans with the IRS for review between February 1, 2012 and January 31, 2013.
[FULL STORY]

Further Extension of Puerto Rican Plan Spinoff Deadline/Group Trust Relief
Around this time last year, the Service issued Rev. Rul. 2011-1 which provided that the transition relief of Rev. Rul. 2008-40, allowing transfers from qualified trusts to Puerto Rico trusts was extended one year, through December 31, 2011. IRS Notice 2012-6, released on December 19, provides additional extensions and other relief.
[FULL STORY]

Minimal Changes in 2011 Form 5500
DOL has just released advanced informational versions of the Form 5500 Annual Report and Instructions for 2011 plan years.
[FULL STORY]

Current Pension Legislative Outlook: Reviewing 2011, Looking Forward to 2012
We review 2011 retirement policy activity and discuss the 2012 policy agenda.
[FULL STORY]

PBGC Extends Temporary PPA Fix (Again) For 2012 Reportable Events
The reportable event regulation has not been amended in final form to conform to PPA changes. Beginning in 2007, PBGC has issued a series of Technical Updates to address this gap. Technical Update 11-1 (Dec. 7, 2011) continues the temporary fix. It applies to plan years beginning in 2012 unless and until it is superseded by a final reportable event rule.
[FULL STORY]

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