We come with breaking news that will be welcomed by many smaller plan sponsors! The DOL has amended the Form 5500 forms and instructions for 2023 and significantly changed how a plan sponsor counts participants for...more
Cryptocurrency is becoming more popular, so it is natural that you or your participants may be wanting to add a cryptocurrency investment option to your retirement plan. But can you include a cryptocurrency option without...more
The Occupational Safety and Health Administration (OSHA) issued an Emergency Temporary Standard (ETS) on June 10, 2021. The ETS directs covered health care employers to devise a plan that minimizes their employees’ potential...more
American Rescue Plan Act of 2021 (H.R. 1319, the “Rescue Act”) was signed into law by President Biden on March 11, 2021. The Rescue Act addresses a number of issues caused by the lingering pandemic, including the impacts of...more
Notice 2021-01 recently issued by the Employee Benefits Security Administration, provides helpful clarification on relief from certain participant deadlines issued last year. However, it also provides “suggestions” that plan...more
Companies and sole proprietors with PPP loans have been scrambling to maximize their 8-week loan forgiveness. The Paycheck Protection Program Flexibility Act, which eases the forgiveness rules, will likely come as welcome...more
Employers with PPP loans have been anxiously waiting guidance on forgiveness for over a month. On Friday, the Small Business Administration (SBA) provided some insight by releasing the PPP Loan Forgiveness Application, with...more
The Employee Benefits Security Administration and the Internal Revenue Service have provided relief to certain plan participants, which plan sponsors and administrators will be required to implement. Essentially, the plan...more
Wondering how to use your Payroll Protection Program (PPP) proceeds now that you’ve been approved? Careful planning and consideration should be exercised to ensure you maximize the loan forgiveness. So, let’s discuss some...more
The recently enacted Coronavirus Aid, Relief, and Economic Security Act (CARES Act) seeks to mitigate the economic impact of COVID-19. It seeks to expand on prior legislation. It provides greater assistance to individuals,...more
What is the Paycheck Protection Program (“PPP”)? PPP was put in place as part of the CARES Act on March 27, 2020, to offer loans under Section 7(a) of the Small Business Act and to incentivize small business employers to...more
In face of the Covid-19 emergency, many employers are faced with furloughing or laying off employees, but they want to do what they can to provide some benefit. While severance payments are one option, these benefits...more
The landscape for employers has been changing quickly in the wake of COVID-19. Many employers are adapting to new ways of working and looking for ways to support employees with living and working through the COVID-19...more
Employee Benefit Questions -
If I furlough or lay off employees, can I continue some or all of their benefits during the leave?
There may be ways to continue some or all benefits during a furlough or layoff. Each plan...more
3/21/2020
/ 401k ,
403(b) Plans ,
COBRA ,
Coronavirus/COVID-19 ,
Disability Benefits ,
Employee Benefits ,
Employer Group Health Plans ,
Fair Labor Standards Act (FLSA) ,
Family and Medical Leave Act (FMLA) ,
FEMA ,
Furloughs ,
Hardship Distributions ,
Health Insurance ,
Layoffs ,
Unemployment Benefits
Complying with all the required notices and disclosures to retirement plan participants can be expensive and burdensome. The Department of Labor (DOL) has moved one step closer to making it easier and less expensive for plan...more
Yet again, the end of the year is rapidly approaching! To avoid costly penalties that can arise from inadvertent errors in the year-end crush, plan sponsors should begin talking with their service providers now about what...more
Finding and Fixing Your Own Noncompliance -
During the 2016 Legislative Session, the N.C. Assisted Living Association (NCALA) was instrumental in bringing about passage of House Bill 667 which modified existing law on...more
6/19/2018
/ Assisted Living Facilities (ALFs) ,
Employer Liability Issues ,
Family and Medical Leave Act (FMLA) ,
Fringe Benefits ,
Internal Revenue Code (IRC) ,
IRS ,
Long Term Care Facilities ,
Long-Term Care ,
Nonprofits ,
Tax Credits ,
Tax Cuts and Jobs Act ,
UBTI
The Tax Cuts and Jobs Act was signed into law on December 22, 2017. The Act modifies the tax consequences of certain employer-provided fringe benefits, including those related to transportation, moving, meals, entertainment,...more
On February 9, 2018, Congress passed the amended Bipartisan Budget Act of 2018. This Act contained provisions impacting retirement plans. Sponsors should decide whether to adjust their plan documents and policies in response...more
We can provide valuable, preventive advice that enhances your bottom line in a wide range of situations.
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The Citation of Immediate Jeopardy Deficiencies Against Nursing Facilities: Unforeseen Consequences -
There are no words more feared by a skilled nursing facility Administrator during an annual recertification survey or...more
10/24/2017
/ Criminal Background Checks ,
Drug Testing ,
Employee Benefits ,
Health Insurance Portability and Accountability Act (HIPAA) ,
Long Term Care Facilities ,
Long-Term Care ,
OSHA ,
Ransomware ,
Salary/Wage History ,
Skilled Nursing Facility ,
Year-End Planning
The year-end is rapidly approaching! To avoid costly penalties from inadvertent errors in the year-end rush, plan sponsors should begin talking with their service providers now about what must be done by year-end. Our first...more
The end of the year is rapidly approaching! To avoid costly penalties that can arise from inadvertent errors in the year-end rush, plan sponsors should begin talking with their service providers now about what must be done by...more
The end of the year is rapidly approaching! To avoid costly penalties that can arise from inadvertent errors in the year-end rush, plan sponsors should begin talking with their service providers now about what must be done by...more
Proposed 2017 Hospital OPPS Rule Would End Medicare Payments to Many Off-Campus Facilities at the Same Levels as Hospital-Based Outpatient Departments -
Published on July 14, 2016, CMS’s proposed 2017 Hospital...more