E-Alert

July 6, 2010

President Signs "Preservation of Access to Care for Medicare Beneficiaries and Pension Relief Act of 2010"

This so-called "doc-fix" Act, which was signed on June 25, 2010, provides the following:

-Cancels a scheduled reduction in Medicare payments to doctors and increases a formula factor in determining physician payment rates.

-Offers funding relief for some pension plans hit hard by the market slide in 2008.

-Extends amortization period for defined benefit plan shortfalls.

-Grants lookback for underfunded single-employer defined benefit plan's restrictions.

-Allows multiemployer plans that satisfy a solvency test to elect to make changes in the funding standard   account for either or both of the first two plan years ending after August 31, 2008.

 


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