The Pension Benefit Guaranty Corporation (PBGC) released its fiscal 2018 projections report in August 2019. The PBGC operates insurance programs for Single-Employer and Multiemployer pension plans and this annual report provides projections of the financial status of each program. The Single-Employer program is the healthier of the two programs. In 10-year projections with 5,000 alternative economic paths, the program was … Read More
Foster & Foster
Changes to the ACA Affordability Standard for 2020
Recently, the IRS issued Revenue Procedure Bulletin 2019-29, which decreases the affordability percentage under the Employer Mandate. The “affordability standard” is a component of ACA that is frequently overlooked. Employers should be reassessing their employee contribution structure annually to ensure compliance and avoid costly penalties (see below for updated penalty amounts). In order to determine affordability, the IRS sets an … Read More