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IRS Sets Deadline for Retroactive Fixes to 403(b) Retirement Plan Documents

In January 2017, the IRS published Revenue Procedure 2017-18 which set March 31, 2020 as the last day to take advantage of the remedial amendment period under Revenue Procedure 2013-22 to retroactively fix defects in 403(b)...more

New Proposed Regulations for Section 457(f) Nonqualified Deferred Compensation Arrangements of Non-Profit and Governmental...

The Internal Revenue Service recently released long anticipated proposed regulations (the “Proposed Regulations”) governing deferred compensation arrangements maintained by tax-exempt organizations and governmental entities...more

Some Welcome Relief and Clarification on Affordable Care Act for Employers

As the federal agencies continue to issue more guidance on the application of various provisions of the Affordable Care Act (the “ACA”) to employer-sponsored health coverage, there are some recent developments that we want to...more

New Year, New Required Transit Perk for NYC Employees

New York City’s Affordable Transit Act (Local Law 53) (the “Act”) will take effect on January 1, 2016. The Act requires employers in New York City with 20 or more full-time employees to provide pre-tax transit benefits to...more

Limited Relief for Certain Employer Health Plan Premium Payments or Reimbursements

Under so-called “employer payment plans” (“EPPs”), an employer pays or reimburses an employee for substantiated premium costs under individual health plan insurance coverage (i.e., nonemployer individual health plan...more

Reminder: Amendments needed to reflect $2,500 limit on Health FSA contributions by year end

As mentioned in a prior Alert, beginning in 2013 employees’ salary reduction contributions to a health flexible spending account (health FSA) may not exceed $2,500 per plan year. This limit is to be indexed for inflation in...more

New Developments and Impending Deadlines for Employer Group Health Plans

As the federal government agencies continue to push forward with implementation and administration of health care reform (i.e., the Patient Protection and Affordable Care Act), there are two recent developments that we want...more

Supreme Court Rejects “Presumption of Prudence” in ESOP Cases

On June 25, 2014, the Supreme Court issued a decision in Fifth Third Bancorp v. Dudenhoeffer regarding the availability of relief against fiduciaries of an employee stock ownership plan (“ESOP”) for alleged breaches of the...more

New IRS Guidance Regarding Same-Sex Spouses: Employer Action Needed

On June 26, 2013, the U.S. Supreme Court, in the landmark case, United States v. Windsor, found the provisions of that portion of the “Defense of Marriage Act” (“DOMA”) which provided that only opposite-sex individuals could...more

Final Employer "Play or Pay" Mandate Guidance: Employer Action Needed

The federal health care reform law enacted in 2010, known as the Affordable Care Act, added a provision to the Internal Revenue Code (“Code”) (Code Section 4980H) that, beginning on January 1, 2015, may subject employers to...more

New Carryover Option for Health Flexible Spending Arrangements

Recent guidance from the IRS modifies the long-standing “use or lose it” rule under a health flexible spending arrangement (“Health FSA”) to permit such arrangements to offer participants the opportunity to carryover up to...more

Federal Guidance on HRAs, Health FSAs and Other Employer Funding Arrangements Under Health Care Reform

On September 13, 2013, the Internal Revenue Service, U.S. Department of Labor and U.S. Department of Health and Human Services, collectively, issued guidance (the "Health Funding Guidance") on the application of two of the...more

Important IRS Guidance on Same-Sex Marriage

Earlier this summer we sent you an Alert concerning the U.S. Supreme Court’s historic ruling (United States v. Windsor) regarding same-sex marriage. This decision declared, as unconstitutional, Section 3 of the federal...more

Update: One-Time Extension for Furnishing Annual Fee Disclosures to Participants

Earlier this month we reminded you that plan administrators of participant-directed ERISA defined contribution retirement plans (e.g., 401(k) plans, 403(b) plans, profit sharing plans and money purchase plans) had to...more

IRS/Treasury Provides One-Year Delay For Certain Employer Health Coverage Reporting And Employer “Pay Or Play” Penalty Taxes

On July 9, 2013, the U.S. Treasury Department and Internal Revenue Service (“IRS”) issued formal guidance (IRS Notice 2013-45; herein, the “Notice”)1 that provides for a one year delay until 2015 with respect to (i) certain...more

Reminder: Ongoing Participant Fee Disclosure Obligations for Retirement Plan Sponsors

In 2011 and 2012, we alerted you to new requirements on plan administrators of participant-directed defined contribution retirement plans (e.g., 401(k) plans, 403(b) plans, profit sharing plans and money purchase plans) that...more

Supreme Court Ruling on Same-Sex Marriage: Impact on Employee Benefits

The United States Supreme Court’s landmark decision on June 26, 2013 in United States v. Windsor that struck down Section 3 of the Defense of Marriage Act (DOMA) as unconstitutional has far reaching implications for employee...more

Action Items for Employers: Notice to Employees of Health Insurance Marketplace & Related Updates to COBRA Election Notices

As we have alerted you in the past, health care reform enacted in 2010 under the Patient Protection and Affordable Care Act (referred to herein as “PPACA”) has imposed new obligations on employers and group health plans. One...more

IRS Relief for 403(b) Retirement Plans

Recognizing that the requirement to have a detailed written plan document for a 403(b) retirement plan was a new and arduous task for many non-profit entities who sponsored such plans, the IRS has now published favorable...more

3/22/2013  /  403(b) Plans , IRS , Retirement Plan

New Employer Shared Responsibility Penalty Guidance: Timely Employer Action Needed

In This Alert: - A. What Is The Employer Shared Responsibility Penalty? - What Is The “Failure To Offer Coverage Penalty”? - How Is The “Failure To Offer Coverage Penalty” Calculated? - What Is...more

Fiscal Cliff Legislation - Employee Benefits and Compensation Provisions of Interest

Earlier this month we notified you that that under the American Taxpayer Relief Act of 2012—i.e., the “fiscal cliff legislation”—Congress extended the ability of employers to pay or reimburse an employee on a tax-free basis...more

Tax-Free Employee Educational Assistance Programs Extended by Fiscal Cliff Legislation

At the end of last year, we alerted you that the beneficial tax treatment of educational assistance programs under Section 127 of the Internal Revenue Code (the Code) pursuant to which an employer pays, or reimburses, an...more

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