This week we move away from the world of the standard retirement or health and welfare plans and into the world of executive compensation. Executive compensation arrangements provide a company with a highly flexible benefit...more
In the past two weeks, we have presented a few items that plan sponsors can review in hopes of curbing common employee benefits and executive compensation errors. This week in our Employee Retirement Income Security Act of...more
For better or for worse, the 401(k) plan has moved to center stage in the context of American retirement policy. Fittingly, Part 2 of this Employee Retirement Income Securities Act of 1974 (“ERISA”) driven series focuses on a...more
The Employee Retirement Income Security Act of 1974 (“ERISA”) has a reputation for being intimidating and understandably so. Although plan sponsors must practically consider business needs and evaluate benefits alongside...more
While sponsors and/or administrators of Group Health Plans select the design of the their group health plans, they do not, generally, act as claims administrators. Insurance carriers (for fully-insured programs) and...more
Group health continuation coverage under the Consolidated Omnibus Reconciliation Act of 1985 (“COBRA”) permits certain group health coverage to be continued by participants and beneficiaries (“qualified beneficiaries”) when...more
The Consolidated Appropriations Act of 2021, enacted at the end of 2020 includes the No Surprises Act (“Act”), amending the Employee Retirement Income Security Act of 1974, the Internal Revenue Code of 1986, and the Public...more
Many employers in both the for-profit as well as non-profit sectors have responded to the challenges of the pandemic through reductions in force. Depending upon the scope of these reductions in force, the retirement plans...more
If you maintain a 401(k) plan (“Plan”), Section 112 of the Setting Every Community Up for Retirement Enhancement Act of 2019 (“SECURE Act”) imposes new rules for Plan participation by your part-time employees if they work at...more
The recently-enacted spending package, The Consolidated Appropriations Act (Act), contains additional emergency coronavirus relief including provisions that extend, modify or clarify provisions of both the Family First...more
In order to reduce expenses during the COVID-19 pandemic, plan sponsors have expressed an interest in reducing or eliminating safe harbor contributions under their 401(k) plans. The circumstances permitting such amendments...more
INTRODUCTION - The health care world – in fact, THE WORLD – has changed significantly since March with the onset of COVID-19. As we collectively work to return to a “new normal,” the health care delivery system will be one of...more
The Department of Labor (DOL) and Internal Revenue Service (IRS) have jointly issued guidance in the form of final rules and frequently asked questions (FAQ) providing relief from a number of deadlines imposed on participants...more
This Alert summarizes key benefits and considerations for mid-sized companies under the Coronavirus Aid, Relief, and Economic Security Act (CARES Act).
Mid-Sized Business Direct Loan Program (Mid-Sized Loan Program). Under...more
Two recent pieces of legislation, the Families First Coronavirus Response Act (FFCRA) and the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) contain provisions intended to provide assistance to small...more
The Families First Coronavirus Response Act (FFCRA or Act) may have an immediate impact on your group health coverage, payroll and leave administration. ...more
On August 21, 2018, the Internal Revenue Service (“IRS”) issued Notice 2018-68 (“Notice”) which provides initial guidance on amendments made by the Tax Cuts and Jobs Act of 2017 (“Tax Act”) under Section 162(m) of the...more
Effective for any claims made on or after April 1, 2018, the decision to grant or deny benefits under an ERISA-covered plan will be governed by new rules. Since insured plans are subject to the claims procedures set forth...more
For employers that maintain High Deductible Health Plans paired with Health Savings Accounts, the annual contribution limit previously announced by the IRS has been reduced for participants with family coverage under a HDHP. ...more
Deferred compensation arrangements maintained by tax-exempt organizations must already comply with certain provisions of the Internal Revenue Code of 1986, as amended (“Code”), including the deferred compensation rules under...more
Members of Saul Ewing Arnstein & Lehr’s Tax and Employee Benefits and Executive Compensation Practices have outlined the recently announced 2018 dollar limits on the Social Security Wage Base, compensation and deferrals for...more
The Affordable Care Act or ACA (a/k/a “Obamacare”) is not dead, yet. Employers are starting to receive letters from the IRS notifying them that they owe assessable payments (“penalties”) under the employer shared...more
Include all necessary interested parties in the process. This means including individuals with decision-making authority from Human Resources, Benefits, Labor Relations (if applicable), Finance, Payroll, and Legal. A...more
A recent U.S. Supreme Court decision in Advocate Health Care Network v. Stapleton implicates the benefit plans maintained by nonprofit entities affiliated with a church or religious organization, including many hospitals and...more
Three more class action lawsuits were filed against the fiduciaries of plans maintained by institutions of higher education (University of Chicago, Princeton University, and Washington University in St. Louis). The complaints...more