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Willis Towers Watson Insider covers health care and retirement benefit regulations, case law and policy, along with historical trends and future directions. This issue addresses the IRS’s expansion of its EPCRS self-correction program for certain document and operational failures, an annual analysis of the pension disclosures of 100 publicly traded U.S. sponsors of large pension plans, and the DOL proposal to clarify the “regular rate” used to calculate overtime pay. It also reports on the July 31, 2019 due date of the Patient-Centered Outcomes Research Institute fee imposed under the Affordable Care Act.

IRS significantly expands EPCRS self-correction program

The program now permits self-correction of certain plan document failures, common plan loan failures and failures to obtain spousal consent for a plan distribution. Read more.

WTW Pension 100: Year-end 2018 disclosures of funding, discount rates, asset allocations and contributions

This analysis examines funding results, the discount rates used to measure liabilities, target asset allocation policies, investment returns and plan contributions. Read more.

DOL proposes to clarify calculation of regular rate of pay for overtime purposes

The DOL has proposed to clarify which perks, benefits and other miscellaneous payments may be excluded from the regular rate of pay. Read more.

PCORI fee due by July 31, 2019

This will be the last year that certain calendar-year health plans will need to pay the PCORI fee imposed under the Affordable Care Act. Read more.