BenefitsWire

“By July 31, employers that sponsor self-funded medical plans must report and pay their PCORI fee. By July 31, employers that sponsor calendar-year employee benefit plans that are subject to ERISA must file a Form 5500 (unless an exception applies) or request an extension by filing a Form 5558.” MORE >>

Source: JD Supra

The IRS has scheduled a public hearing on proposed rules (REG-113229-25) that would raise the dollar thresholds triggering Form 1099 information reporting for trade or business payments and adjust related backup withholding requirements; benefits professionals should monitor changes that could affect reporting obligations for plan-related payments. MORE >>

Source: IRS

“The draft rule, "Prudence and Loyalty in Selecting Plan Investments and Exercising Shareholder Rights," was submitted by the DOL's Employee Benefits Security Administration on June 30 to the Office of Information and Regulatory Affairs. The OIRA typically has up to 90 days to sign off on new regulations, though reviews often wrap up in less than a month, meaning the rule could be released within weeks. ... The DOL's proposed rule for selecting plan investments lays out for plan sponsors a prudent process for investment selection that, when followed, would provide a presumption of compliance with the duty of prudence, one of the two key fiduciary duties, along with the duty of loyalty, under ” MORE >>

Source: PLANADVISER

“The submission suggests that proposed guidance on ESG matters could be released in the weeks ahead Draft regulation that would replace the Biden Administration’s former environmental, social, and governance (ESG) rule has been shared with the White House for further review.” MORE >>

Source: PLANSPONSOR

[General Benefits]

HHS Secretary terminated three COVID-19 emergency use authorization declarations covering in vitro diagnostics, respiratory protective devices, and other medical devices, effective December 26, 2026, ending the legal basis for EUA-authorized COVID-related products that some employer health plans have covered. MORE >>

Source: U.S. Department of Health and Human Services

[General Benefits]

“The Pension Benefit Guaranty Corporation (PBGC) has issued a proposed rule that would make changes to its rules on recoupment of benefit overpayments made under its insurance program for single-employer terminated plans for which it serves as trustee. ... The PBGC is especially concerned that the current recoupment methodology, which is based on actuarial concepts unfamiliar to many participants, makes the rules difficult to explain to participants and for participants to understand. ... Comments must be submitted on or before 60 days after the proposed rule is published in the Federal Register.” MORE >>

Source: American Retirement Association

“The Retirement Fairness for Charities and Educational Institutions Act would enable 403(b) plans to use collective investment trusts (CIT) as an investment option. ... CITs typically have lower investment fees than mutual funds and so tend to have better long-term returns. However, existing securities laws do not permit them to be used by 403(b) plan participants, though 401(k) plan participants have access to them.” MORE >>

Source: American Retirement Association

“Treasury announced that all Trump Accounts will be defaulted into investing in the State Street SPDR Portfolio S&P 500 ETF (” MORE >>

Source: Groom Law Group

“A federal judge has dismissed (for the second time) a suit alleging a fiduciary breach in the selection and retention of a stable value fund. ... Judge Greisbach concurred, noting that "the comparators cited by Plaintiff are not meaningful benchmarks for the Fidelity SVF," and the "apples/oranges comparison asserted in the FAC does not raise the inference needed to support a plausible claim that Defendants breached their fiduciary duty of prudence in selecting and maintaining the Fidelity SVF as part of the Plan.” MORE >>

Source: American Retirement Association