Sentences with phrase «rules of your defined benefit plan»

The answer depends on the rules of your defined benefit plan, and the type of defined benefit plan.

Not exact matches

On April 8, 2016, the Department of Labor (Department) published a final regulation (Fiduciary Rule or Rule) defining who is a «fiduciary» of an employee benefit plan under section 3 (21)(A)(ii) of the Employee Retirement Income Security Act of 1974 (ERISA or the Act) as a result of giving investment advice to a plan or its participants or beneficiaries.

We need repeal of union give - aways like the Triborough Amendment which rigs union contracts and benefits, repeal of the Wicks Law which raises public construction costs, reform of binding arbitration rules affecting police and fire contracts, and movement toward defined contribution pension plans for public employees.»

Most public school teachers participate in defined benefit (DB) pension plans, which because of different accounting rules contribute significantly less today for each dollar of future retirement benefits than private - sector DB pensions or defined contribution (DC) pension plans.

I exploit sharply nonlinear funding rules for defined benefit pension plans in order to identify the dependence of corporate investment on internal financial resources in a large sample.

Part of my retirement benefit is a defined contribution plan (403b and 401a) which are subject to the RMD rules.

The original framers of the pension accounting rules assumed that everyone would be angels, and so they left a lot of flexibility in the accounting rules to encourage the creation of defined benefit plans, expecting that men of good will would go out of their way to fund them fully and soon.

The High Court has ruled that Barclays» pensions proposals will not hold up its ring - fencing plans, in a decision that considered widely relevant issues of restructuring defined benefit pension schemes and Pensions Regulator clearance.

Read out summary of the proposed new funding rules for defined benefit pension plans registered in Ontario, and find out how your union can weigh in.

The commenter stated that the clarifying language is needed given the «catchall» category of entities defined as «any other individual plan or group health plan, or combination thereof, that Start Printed Page 82578provides or pays for the cost of medical care,» and asserted that absent clarification there could be serious confusion as to whether property and casualty benefit providers are «health plans» under the rule.

In the final rule we have incorporated a provision that clarifies that the term «health plan» excludes «any policy, plan, or program to the extent that it provides, or pays for the cost of, excepted benefits as defined in section 2791 (c)(1) of the PHS Act.»

First, the rule excepts any policy, plan or program to the extent that it provides, or pays for the cost of, excepted benefits, as defined in section 2791 (c)(1) of the PHS Act, 42 U.S.C. 300gg - 91 (c)(1).

However, the other excepted benefits as defined in section 2971 (c)(2) of the PHS Act, 42 U.S.C. 300gg - 91 (c)(2), such as limited scope dental or vision benefits, not explicitly excepted from the regulation could be considered «health plans» under paragraph (1)(xvii) of the definition of «health plan» in the final rule if and to the extent that they meet the criteria for the definition of «health plan.»

Response: Only those special employee discounts or membership incentives that are «employee welfare benefit plans» as defined in section 3 (1) of the Employee Retirement Income Security Act of 1974, 29 U.S.C. 1002 (1), and provide «medical care» (as defined in section 2791 (a)(2) of the Public Health Service Act, 42 U.S.C. 300gg - 91 (a)(2)-RRB-, are health plans for the purposes of this rule.

Response: We agree and as described above have added language to the final rule to clarify that the «excepted benefits» as defined under 42 U.S.C. 300gg - 91 (c)(1), which includes liability programs such as property and casualty benefit providers, are not health plans for the purposes of this rule.

These retirement plans generally conform to the rules of Section 401 of the Internal Revenue Code, and include defined benefit and defined contribution plans, such as 401 (k), profit sharing, and money purchase plans.