Fiduciaries responsible for the investment of almost $30 trillion in U.S. retirement funds are required by federal law (ERISA) to discharge their duties “solely in the interest of participants and beneficiaries” for the...more
In 1973, the U.S. Supreme Court held in Roe v. Wade that pre-viability abortions were protected under a Constitutional right to privacy emanating from the First, Fourth, Fifth, Ninth and Fourteenth Amendments. The Roe...more
8/3/2022
/ Abortion ,
Dobbs v. Jackson Women’s Health Organization ,
Employee Benefits ,
Employer Group Health Plans ,
Employer Liability Issues ,
Health Insurance ,
Healthcare ,
Human Resources Professionals ,
Pregnancy ,
Reproductive Healthcare Issues ,
Roe v Wade
ERISA generally requires retirement plan fiduciaries to invest prudently, diversify assets to minimize the risk of large losses, and act solely in the interest of plan participants. These duties have been interpreted as...more
The U.S. Department of Labor has recently issued a proposal for meeting fiduciary duties when evaluating retirement plan investments having environmental, social and governance (ESG) factors....more
New federal law (Section 9501 of the American Rescue Plan Act of 2021 – ARP Act, PL 117-2) provides a temporary, full subsidy of some premiums that individuals would have to pay for COBRA coverage following a reduction in...more
Private Equity Investments in Defined Contribution Plans -
The US Department of Labor (DOL) recently concluded in Information Letter 06-03-2020 that, if properly structured, offering a professionally managed fund with a...more
7/7/2020
/ 401k ,
Defined Contribution Plans ,
Department of Labor (DOL) ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Fiduciary Duty ,
Information Letters ,
Investment ,
Investment Management ,
Private Equity ,
Retirement Plan
The CARES Act provides two tools for boosting an employer’s cash flow by reducing its employment taxes through a tax credit, and by delaying payment of certain payroll taxes. ...more
Major changes are coming that will affect the income and estate tax planning of retirement savings. These changes, under the bipartisan SECURE Act, will become law once the President signs the Consolidated Appropriations Act...more
12/23/2019
/ 401k ,
Compensation & Benefits ,
Defined Contribution Plans ,
Distribution Rules ,
Employee Benefits ,
Estate Tax ,
Form 5500 ,
Individual Retirement Account (IRA) ,
Inherited IRA ,
Multiple Employer Plan (MEP) ,
New Legislation ,
Retirement Plan ,
SECURE Act ,
Tax Planning
Beginning on October 1, most employers in Massachusetts will be required to withhold tax to fund Massachusetts Paid Family and Medical Leave benefits. There is an exception to this requirement, however, for companies that...more
New Massachusetts Paid Family and Medical Leave -
Beginning in 2021, all Massachusetts employers must provide their employees (and, in some cases, contractors) paid leave for family and medically related absences. Under the...more
5/6/2019
/ Employee Benefits ,
Employer Liability Issues ,
Employment Policies ,
Medical Leave ,
Notice Requirements ,
Paid Family Leave Law ,
Paid Leave ,
Payroll Taxes ,
Popular ,
Social Security ,
State Labor Laws ,
Tax Exemptions ,
Wage and Hour
New federal rules apply for processing disability claims made under employee benefit and executive deferred compensation plans after April 1, 2018. Employers sponsoring retirement plans, disability plans, or nonqualified...more
The latest chapter in the 6-1/2 year history of the Department of Labor (DOL) final Fiduciary Rule is a 60-day delay of part of the final regulations, and a delay until January 1, 2018 for certain disclosures and other...more
Many employers offer 401(k) and other retirement plans for their employees as part of the cost of doing business. Too often, retirement plans are established and operated without much thought given to the numerous legal...more
Employers that offer an array of benefits to their employees have done so often to keep their compensation packages competitive in the marketplace. Offering retirement and certain fringe benefit programs can be particularly...more
The following is a short checklist of issues that Massachusetts and other employers need to address as the laws relating to retirement, medical and other employee benefits have changed. The details regarding the application...more