New proposed regulations clarify how employers should implement retirement plan eligibility rules for long-term, part-time ("LTPT") employees. While some questions remain, the proposed regulations provide a number of welcome...more
12/15/2023
/ 401k ,
403(b) Plans ,
Benefit Plan Sponsors ,
Employee Contributions ,
Employee Retirement Income Security Act (ERISA) ,
Internal Revenue Code (IRC) ,
IRS ,
New Guidance ,
Non-Discrimination Rules ,
Proposed Regulation ,
Retirement Plan ,
Safe Harbors ,
SECURE Act
The recently signed American Rescue Plan Act (ARPA) contains an assortment of benefit plan provisions, including a new COBRA assistance scheme and expanded dependent care provisions. It also includes several provisions aimed...more
To provide long-term incentives to top employees and align their interests with their employers, many businesses offer some kind of equity compensation. However, when a business is owned by a family, the decision to provide...more
Background - The Internal Revenue Code (the "Code") provides the Secretary of the Treasury with the authority to delay tax deadlines in times of national emergency....more
Background - The Internal Revenue Code (the "Code") provides the Secretary of the Treasury with the authority to delay tax deadlines in times of national emergency....more
The U.S. Department of Labor (DOL) has issued final regulations regarding electronic delivery of retirement plan documents required by the Employee Retirement Income Security Act (ERISA). The new rules only apply to...more
Please join our Oregon attorneys as we help our clients prepare for Oregon's reopening. This nuts and bolts webinar will address the questions we are hearing as employers prepare to ramp back up....more
5/11/2020
/ Continuing Legal Education ,
Coronavirus/COVID-19 ,
Employee Benefits ,
Employer Liability Issues ,
Employer Responsibilities ,
Governor Brown ,
Health and Safety ,
Medical Monitoring ,
Re-Opening Guidelines ,
Rehiring Issues ,
Social Distancing ,
State and Local Government ,
Webinars ,
Workplace Safety
The U.S. Departments of Labor (DOL), Treasury, and Health and Human Services have issued guidance extending deadlines for COBRA, special enrollment periods, benefit claims/appeals, employer notices and other disclosures. ...more
As we have discussed in prior advisories, employers are entitled to a tax credit to cover 100 percent of the expense of providing paid leave under the Families First Coronavirus Response Act (FFCRA). Both the FFCRA...more
Employers impacted by COVID-19 have a variety of questions regarding the impact on their retirement plans, including the ability to make contribution formula changes, questions about distributions, and compliance issues,...more
This advisory summarizes key provisions in the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) applying to employee benefit plans. We provide a summary of key items and more detailed FAQs relating to...more
3/30/2020
/ 401k ,
CARES Act ,
Coronavirus/COVID-19 ,
Defined Contribution Plans ,
Employee Benefits ,
Employer Group Health Plans ,
Hardship Distributions ,
Payroll Taxes ,
Relief Measures ,
Retirement Plan ,
Student Loans ,
Tax Credits ,
Telehealth
As part of the Families First Coronavirus Response Act (FFCRA), signed by President Trump on March 18, 2020, certain employers (based on workforce size) must provide expanded paid sick leave and paid family leave to employees...more
The deadline to register with OregonSaves for employers using professional employment organizations (PEOs) is upcoming in spring 2020. The Oregon State Treasury has informally indicated that this deadline is likely to be May...more
ERISA requires Summary Plan Descriptions and other disclosures to be "written in a manner calculated to be understood by the average plan participant." ERISA section 102(a). ...more
On November 9, 2018 the IRS issued proposed regulations that clarify changes made by the Bipartisan Budget Act of 2018, which generally expanded the ability of participants in 401(k) and 403(b) plans to obtain a hardship...more
On November 16, the House of Representatives passed its version of the Tax Cuts and Jobs Act, and the Senate passed its version of the bill on December 2. Although the House and Senate must first reconcile their respective...more
12/6/2017
/ Compensation & Benefits ,
Deferred Compensation ,
Excise Tax ,
Executive Compensation ,
Income Taxes ,
Section 162(m) ,
Section 409A ,
Stock Options ,
Tax Code ,
Tax Exempt Entities ,
Tax Reform
Earlier in October, the Trump Administration announced it would immediately terminate payments to insurers to offset the costs of ACA-mandated discounts on co-payments and deductibles for low-income consumers. A number of...more
Are you an employer with employees in Oregon? If you do not offer a retirement plan to any of your employees, read on for your obligations under a new state-run retirement savings program called OregonSaves. If you do...more
On March 1, 2017, the U.S. Department of Labor (DOL) announced a proposed 60-day extension of the final rule commonly known as the “Fiduciary Duty Rule,” which if approved would delay the effective date from April 10, 2017 to...more
On June 22, 2016, the Internal Revenue Service (IRS) and Treasury Department issued proposed regulations under Section 457 of the Internal Revenue Code, fulfilling a nearly decade-old commitment to provide additional...more
On June 22, 2016, the Internal Revenue Service and Treasury Department issued proposed regulations under Section 409A of the Internal Revenue Code (409A Proposed Regs). The government noted that the 409A Proposed Regs are...more