DOL to Host Webinar on EFAST2 and 2009 Form 5500

The US Department of Labor's Employee Benefits Security Administration (EBSA) will be hosting a EFAST2 and 2009 Form 5500 compliance assistance webinar on June 3, 2010 at 1:00pm EDT. 

From EBSA:

"Now that electronic filing is here, and you are using the EFAST2 system and preparing to file the 2009 Form 5500, we know that you have questions. This webcast will provide tips and address some of the most frequently asked questions the Department has received as all parties involved in filing begin to use the EFAST2 system and prepare the 2009 Form 5500.  The webcast will also feature a discussion of the new e-signature option for Form 5500 and 5500-SF that is designed to simplify the electronic filing process, especially for small businesses that use service providers to complete and file their annual reports.

 

The 2009 Form 5500 has a number of changes, including a new simplified annual reporting form for small plans with easy to value investments; expanded reporting by large plans of compensation received by plan service providers; and realignment of the reporting rules for Internal Revenue Code section 403(b) pension plans subject to Title I of ERISA to make them on par with 401(k) plans.   The EFAST2 system is a new, modernized system to handle the electronic filing of the Form 5500 and Form 5500-SF that also provides electronic public disclosure of filings."

Click here to read more and to sign up for the webcast.

COBRA Extension Fact Sheet Released

The federal Employee Benefits Security Administration (EBSA) recently updated a fact sheet on the COBRA premium reduction program. Reflecting changes made by the Temporary Extension Act (TEA) passed on March 2, 2010, the fact sheet outlines requirements to be eligible to receive the 65 percent premium reduction subsidy, among other things.

Click here to view the complete fact sheet.

Mental Health Parity Regulations Released

The Employee Benefits Security Administration (EBSA) has posted the public inspection version of the interim final rules for the Mental Health Parity and Addiction Equity Act ("MHPAEA"). Expanding upon laws enacted by the Mental Health Parity Act of 1996, these news laws require group health plans and health insurance issuers to ensure that financial requirements (such as co-pays, deductibles) and treatment limitations (such as visit limits) applicable to mental health or substance use disorder (MH/SUD) benefits are no more restrictive than the predominant requirements or limitations applied to substantially all medical/surgical benefits.

Generally, the law became effective for plan years beginning on or after October 3, 2009, and thus January 1, 2010 for calendar year plans. The Departments of Labor (DOL), Health and Human Services (HHS), and the Treasury will publish in the Federal Register final regulation that is effective April 5, 2010, and applicable to plan years beginning on or after July 1, 2010.

EBSA has published a fact sheet that can be found by clicking here.
Click here for the related press release.

COBRA and Form 550 Compliance Webcasts

The Department of Labor and the Employee Benefits Security Administration recently hosted two compliance webcasts designed to provide plan administrators guidance on administering COBRA premium reduction subsidies and filing the 2009 Form 5500.

Both archived webcasts can now be found online on the EBSA website.

To access the webcast on COBRA premium reduction subsidies, click here.

Click here to view the 2009 Form 5500 webcast.

DOL Webinars on 2009 Form 5500 and COBRA Premium Reduction Extension Provisions

The Employee Benefits Security Administration (EBSA) is hosting two upcoming webinars. On Thursday, January 21st at 1:00pm Eastern, staff members from EBSA and the Department of Labor (DOL) will provide plan sponsors with assistance in understanding the changes to the form and filing process. In addition, they will introduce users to the new EFAST2 electronic filing website. And, a representative from the Internal Revenue Service (IRS) will discuss filings that now will be submitted only to the IRS. The webinar can be access by clicking here.

At 1:00pm Eastern time on Friday, January 22nd, DOL and EBSA staffers will discuss the extension and provide assistance in complying with the new requirements, including the model notices and transition period. This webinar can be access by clicking here.