Congress enacts a host of employee benefits provisions as part of the Small Business Job Protection and Health Insurance Portability and Accountability acts

Article Abstract:

The Small Business Job Protection Act of 1996 and Health Insurance Portability and Accountability Act of 1996 were signed into law on Aug 20 and 21, 1996, and strongly impact health and benefit plan sponsors, administrators and participants. Some of the provisions in the Business act include safe harbors, SIMPLE pension plans and new IRC section 415 compensation definitions. The Health Insurance act includes provisions for insurance portability, increased deductions for self-employed and limits on preexisting condition exclusions.

Pension, health, and welfare funds, Pension Funds & Benefit Plans, Pension Funds, Direct Health and Medical Insurance Carriers, Hospital and medical service plans, Medical Care Insurance, United States, Health insurance

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Recent developments in plan participant loan programs

Article Abstract:

Changes in legislation and regulations have complicated the process of administering participant loan programs, which are part of employee pension benefit plans. These regulations include the Internal Revenue Code and the Employee Retirement Income Security Act of 1974. Participant loan programs have traditionally provided employees with access to credit, but the new regulations have increased the costs of administration and decreased the attractiveness of the programs.

Compensation management, Employee loans

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Relief at last?: DOL final regulation on participant-directed individual account plans

Article Abstract:

The Department of Labor put out a final regulation on participant-directed individual account plans under ERISA Section 404(c) on Oct 13, 1992. That ERISA section relieves the fiduciary of some liabilities when the plan is participant-directed. Fiduciaries still have a duty to keep current on investment alternatives, but there does seem to be relief from liability for the losses bound to occur in the marketplace.

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