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The ERISA Outline Book - Current Developments

On this page we reference significant current developments, organized by chapter, that affect the 2017 Print Edition of the ERISA Outline Book (EOB). The Online Edition of the EOB is updated on a periodic basis. The last update went live in May 2017 and reflected developments through the end of April 2017. The next update is expected by the end of August 2017.

In the entries below, you will find a link to the source material. If you link to that page, you will need to click the "back" button on your browser to return to this page. For a list of current developments that is not referenced to The EOB, click here. For an archive of the Current Developments affecting the 2016 Edition of The EOB, click here.

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Chapter 1A

  • Cash or Deferred Arrangement definition
    Election offered by State to receive enhanced subsidized early retirement pension or a lump sum cash payment was an impermissible cash or deferred arrangement [Citation: PLR 201722014 (March 2, 2017)]
    Text available at http://bit.ly/2qJtjca
  • Church plan definition
    Supreme Court holds “principal purpose organization” of church may establish and maintain a church plan that is exempt from ERISA [Citation: Advocate Health Care Network v. Stapleton, ___ S.Ct. ___ (June 5, 2017)]
    Text available at http://bit.ly/2s9UDEr

Chapter 1B

  • Pre-Approved Plan definition
    Revised procedure for Pre-Approved Plans combines M&P plans and volume submitter plans into a single category of Pre-Approved Plans, expands plan eligible to use Pre-Approved Plan Documents, delays third on-cycle submission period for Defined Contribution Pre-Approved Plans [Citation: Rev. Proc. 2017-41, 2017-29 I.R.B. (July 17, 2017) (advance release on July 3, 2017)]
    Text available at http://bit.ly/2tvvowE

Chapter 2

  • No entries
    ...

Chapter 3A

  • Section III, Part A
    IRS identifies types of compensation-based formulas under cash balance plans that may raise definitely determinable benefit issues [Citation: Memorandum for Employee Plans (EP) Employees from Lisa J. Beard, Acting Director, Employee Plans, Control No. TE/GE-04-0417-0014 (April 7, 2017)]
    Text available at http://bit.ly/2on5HcY

Chapter 3B

  • Section IX, Part A.2.g.
    Cash balance plans that still use IRC §417(e) methodology to compute lump sums may use IRC §411(b)(5)(E) age discrimination test, but, for post-2016 plan years, may not rely on the safe harbor age discrimination test under IRC §411(b)(5)(A) [Citation: CCA 201617006 (March 28, 2016)]
    Text available at http://1.usa.gov/1WKL3Qk
  • Section X, Part F.7.
    Updated of procedures for requesting approval of a proposed benefit suspension under a multiemployer defined benefit plan in critical and declining status, as permitted under IRC §432(e)(9); model notice to participants provided [Citation: Rev. Proc. 2017-43, 2017-31 I.R.B. (July 31, 2017) (advance release on July 13, 2017)]
    Text available at http://bit.ly/2tfWT9E

Chapter 4

  • No entries
    ...

Chapter 5

  • No entries
    ...

Chapter 6

  • Section IV, Part C.4.
    IRS Examination Guidelines on substantiation of hardship distributions [Citation: Memorandum for EP Examinations Employees: Substantiation Guidelines for Safe Harbor Distributions from Section 401(k) Plans, from Thomas J. Petit, Acting Director, EP Examinations (February 23, 2017)]
    Text available at http://bit.ly/2m8FLTs

Chapter 7

  • Section IX, Part B.3.c.2)
    IRS memorandum to exam agents allows for two interpretations of how $50,000 limit under IRC §72(p) applies to multiple loans during a 12-month period [Citation: Memorandum For EP Examinations Employees, Control No. TEGE-04-0417-0016 (April 20, 2017)]
    Text available at http://bit.ly/2pYHtt5

Chapter 8

  • No entries

Chapter 9

  • No entries

Chapter 10

  • No entries

Chapter 11

  • No entries

Chapter 12

  • No entries

Chapter 13A

  • Section II, Part D
    Joint resolution of Congress nullifies regulation to exempt mandatory IRA programs of States and their political subdivisions from ERISA [H.J. Res. 67 (April 13, 2017); H.J. Res. 66 (May 17, 2017]
    Text available at http://bit.ly/2ovqHi4 (H.R. 67) and https://bit.ly/2q0aOz9 (H.R. 66)

Chapter 13B

  • Section II, Part A.2.
    DOL delays the Applicability Date of the fiduciary regulation and associated prohibited transaction exemptions, provides extended delay for requirements other than the Impartial Conduct Standards [Citation: Extension of Applicability Date of DOL Reg. §2510.3-21, PTEs 2016-01 and 2016-02, and amendments to PTEs 75-1, 77-4, 80-83, 83-1, 84-24 and 86-128, 82 F.R. 16902-16918 (April 7, 2017)]
    Text available at http://bit.ly/2oJupYf
    DOL adopts temporary nonenforcement policy during Transition Period under conflict of interest exemptions and issues FAQs regarding compliance during such period [Citation: Field Assistance Bulletin (FAB) 2017-02 (May 22, 2017); Conflict of Interest FAQs (Transition Period) (May 2017)]
    Text available at http://bit.ly/2qLxuGY (FAB 2017-02); http://bit.ly/2wNqbPU (Transition Period FAQs)
    Attention: The DOL has asked the OMB to approve a further extension of the Transition Period through July 1, 2019, during which only the Impartial Conduct Standards will apply under the BIC Exemption, the Principal Transactions Exemption, and the revised version of PTE 84-24.
  • Section II, Part E.4.e.4)
    Damages award on fiduciary breach with respect to substitution of default investment fund vacated because district court failed to consider other damages calculation other than a suggested alternative mentioned by the appellate court in the earlier opinion [Citation: Tussey v. ABB, Inc., 850 F.3d 951 (8th Cir. (MO) March 9, 2017)]
    Text available at http://bit.ly/2mP9dPn
  • Section III, Part A.2.c.
    Administrator acted arbitrarily in interpreting plan language that clearly applied under the claimants’ situation regarding involuntarily termination from the controlled group [Citation: Knowlton v. Anheuser-Busch Companies Pension Plan, No. 15-3538, 849 F.3d 422 (8th Cir. February 22, 2017)]
    Text available at http://bit.ly/2luQgjr
  • Section III, Part D.1.a.5)
    Reformation of defined benefit plan ordered by court because of fraudulent concealment of the wear-away effect of replacing the plan’s traditional benefit formula with a cash balance formula [Citation: Osberg v. Foot Locker, Inc., 862 F.3d 198 (2nd Cir. July 6, 2017)]
    Text available at http://bit.ly/2vBzq7x
  • Section IV, Part F.5.
    Promissory estoppel claim against health insurer ruled not preempted by ERISA because medical provider did not receive valid assignment of payment and received an independent promise from insurer [Citation: McCulloch Orthopaedic Surgical Services, PLLC v. Aetna, Inc., 857 F.3d 141 (2nd Cir. May 18, 2017)]
    Text available at http://bit.ly/2s4rlD5

Chapter 14

  • Section II, Part E
    DOL proposes delay of the fiduciary regulation and associated prohibited transaction exemptions to June 9, 2017 [Citation: Extension of Applicability Date of DOL Reg. §2510.3-21, PTEs 2016-01 and 2016-02, and amendments to PTEs 75-1, 77-4, 80-83, 83-1, 84-24 and 86-128, 82 F.R. 12319-12326 (March 2, 2017)]
    Text available at http://bit.ly/2mAub4E
    DOL delays the Applicability Date of the fiduciary regulation and associated prohibited transaction exemptions, provides extended delay for requirements other than the Impartial Conduct Standards [Citation: Extension of Applicability Date of DOL Reg. §2510.3-21, PTEs 2016-01 and 2016-02, and amendments to PTEs 75-1, 77-4, 80-83, 83-1, 84-24 and 86-128, 82 F.R. 16902-16918 (April 7, 2017)]
    Text available at http://bit.ly/2oJupYf
    DOL adopts temporary nonenforcement policy during Transition Period under conflict of interest exemptions and issues FAQs regarding compliance during such period [Citation: Field Assistance Bulletin (FAB) 2017-02 (May 22, 2017); Conflict of Interest FAQs (Transition Period) (May 2017)]
    Text available at http://bit.ly/2qLxuGY (FAB 2017-02); http://bit.ly/2wNqbPU (Transition Period FAQs)
    Attention: The DOL has asked the OMB to approve a further extension of the Transition Period through July 1, 2019, during which only the Impartial Conduct Standards will apply under the BIC Exemption, the Principal Transactions Exemption, and the revised version of PTE 84-24.

Chapter 15

  • Section II
    IRS posts initial Operational Compliance List on its website [Citation: Operational Compliance List (February 27, 2017), www.irs.gov]
    Text available at http://bit.ly/2mLabbv
  • Section III, Part A
    Annual update of Employee Plans determination letter application procedures [Citation: Rev. Proc. 2017-4, 2017-1 I.R.B. (January 3, 2017)]
    Text available at http://bit.ly/2hMvZRn
    IRS memorandum sets forth revised criteria for mandatory review of determination letter cases [Citation: Memorandum on Changes in Tax Exempt Quality Management System and Mandatory Review Standards, TE/GE-07-0417-0018 (April 28, 2017)]
    Text available at http://bit.ly/2oYeNAz
  • Section III, Part C
    2017 list issued for review of Pre-Approved DC Plans in the 3rd remedial amendment cycle [Citation: Notice 2017-37, I.R.B. 2017-29 (July 17, 2017) (advance release on July 3, 2017)]
    Text available at http://bit.ly/2sqmTDP

Chapter 16

  • Section IV, Part B.3.a.1)m)
    IRS analyzes several scenarios under back-to-back arrangement rule [Citation: CCA 201725027 (March 6, 2017)]
    Text available at http://bit.ly/2rLV0S8

Chapter 17

  • No entries

 


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