News & Analysis as of

Benefit Plan Sponsors Consolidated Appropriations Act (CAA)

Bass, Berry & Sims PLC

Welfare Plan Class Action Litigation Underscores Importance of Minding Your Fiduciary Duties

Bass, Berry & Sims PLC on

As mentioned in our recent blog post, the recently filed class action lawsuit against Johnson & Johnson (Lewandowski v. Johnson & Johnson et. al., D.N.J., No. 1:24-cv-00671 (Feb. 5, 2024)) over alleged excessive prescription...more

Davis Wright Tremaine LLP

SECURE 2.0 Medley – IRS and DOL Guidance for Plan Sponsors on Recent Changes

The Internal Revenue Service and U.S. Department of Labor recently issued guidance on various aspects of the Consolidated Appropriations Act of 2023, commonly referred to as SECURE 2.0. Below is a summary of key provisions...more

Baker Donelson

Surprise! Gag Clause Attestation Due by 12/31/2023

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As part of the No Surprises progeny of legislation seeking transparency in health care, the Consolidated Appropriations Act of 2021 prohibits the use of "gag clauses" in group health plan agreements. All group health plans...more

Alston & Bird

Year-End Health Benefits Roundup 2023

Alston & Bird on

It was a lively year for health benefits. Our Employee Benefits & Executive Compensation Group unpacks 2023, from the end of the COVID-19 emergencies to the much-anticipated Mental Health Parity and Addiction Equity Act...more

Shutts & Bowen LLP

SECURE 2.0 and Protecting Your Designated Beneficiaries

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The Setting Every Community Up For Retirement Enhancement Act (SECURE Act) was attached to a spending bill (the Further Consolidated Appropriations Act of 2020, or FCAA) and signed into law on December 20, 2019, taking effect...more

Bass, Berry & Sims PLC

Let the Plan Speak: First Gag Clause Attestation Due December 31, 2023

Bass, Berry & Sims PLC on

By December 31, 2023, group health plans and health insurance issuers must submit an attestation to certify compliance with the “gag clause prohibition” under the Consolidated Appropriations Act of 2021 (CAA)....more

Holland & Hart - The Benefits Dial

The Time Has Come, A Fact’s A Fact: Consider Adding a Welfare Plan Committee

The time may have come to add a welfare plan committee to your company’s governance of employee benefit plans. New legal obligations and other developments impose fiduciary risks for welfare plans similar to what already...more

Ogletree, Deakins, Nash, Smoak & Stewart,...

Proposed Rules Push Mental Health Parity Up Benefit Priority List

Now you know. It could not be any clearer to employers that compliance with the Mental Health Parity and Addiction Equity Act of 2008 (MHPAEA) will be a—maybe the—top health and welfare benefit priority for federal...more

Faegre Drinker Biddle & Reath LLP

DOL Issues Long Awaited Mental Health Parity Guidance

Plan sponsors, insurers, and third-party administrators should pay close attention to the new guidance to facilitate health plan compliance with complex nonquantitative treatment limitation comparative analyses requirements....more

BCLP

NOW is the Time to Review and Correct Retirement Plan Compliance: IRS Notice 2023-43

BCLP on

There has never been a better time for plan sponsors to prioritize reviewing and self-correcting eligible plan failures. SECURE 2.0, attached to the 2022 year-end Consolidated Appropriations Act, expands retirement savings...more

Bradley Arant Boult Cummings LLP

Making the First “Gag Clause” Attestations: A Quick Reference Guide

Under the Consolidated Appropriation Act of 2021 (CAA), group health plans and health insurance issuers are prohibited from entering into agreements with service providers restricting certain information that the plan may...more

Verrill

Gag Clauses – New Guidance and Litigation Will Inform Compliance

Verrill on

Certain provisions of the Transparency in Coverage Final Regulations and the Consolidated Appropriation Act, 2021 (“CAA”) require group health plans and/or their vendors to report information to federal agencies. On December...more

Locke Lord LLP

Get Ready to Attest: The Departments ‎Release “Further ‎‎Guidance” on Gag Clause Prohibitions

Locke Lord LLP on

On February 23, 2023, the Departments of Labor, Health and Human Services, and Treasury(collectively the “Departments”) released guidance to initiate the enforcement provisions related to the “gag clause” prohibitions...more

Woodruff Sawyer

2023 Benefits Compliance Hot Topics

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Now that we’re arriving at the end of the COVID-19 emergency support, it’s time to regroup and review any remaining employer action items. We’ll outline compliance hot topics in this annual benefits legislative update....more

Faegre Drinker Biddle & Reath LLP

The SECURE Act 2.0: The Most Impactful Provisions #9 — Roth Treatment for Catch-up Contributions for Higher Compensated

The President signed the Consolidated Appropriations Act, which included SECURE Act 2.0, on December 29, 2022. SECURE Act 2.0 has over 90 provisions, some major and some minor; some mandatory and some optional; some...more

Woodruff Sawyer

Agencies Release FAQs in Advance of the Upcoming Gag Clause Attestation Filing Deadline

Woodruff Sawyer on

When the Consolidated Appropriations Act, 2021 (the “CAA”) was enacted on December 27, 2020, it included a provision that prohibits group health plans and health insurance carriers from entering into certain agreements that,...more

Faegre Drinker Biddle & Reath LLP

The SECURE Act 2.0: The Most Impactful Provisions #8 — Financial Incentives for Participants for Deferrals

Prior to the SECURE Act 2.0 the only financial incentive for a participant to make a deferral was a matching contribution. However, the new law permits “de minimus” non-cash incentives for beginning participation or...more

Miller Nash LLP

SECURE 2.0 Act Impacts Employer Retirement Plans

Miller Nash LLP on

On December 29, 2022, President Biden signed the Consolidated Appropriations Act, 2023 into law, which included the SECURE 2.0 Act of 2022 (“SECURE 2.0”). SECURE 2.0, which contains over 90 provisions and builds upon the...more

Faegre Drinker Biddle & Reath LLP

The SECURE Act 2.0: The Most Impactful Provisions (#5-Catch-up Contributions for Higher Compensated Must be Roth Contributions)

The President signed the Consolidated Appropriations Act, which included SECURE Act 2.0, on December 29, 2022. SECURE Act 2.0 has over 90 provisions, some major and some minor; some mandatory and some optional; some...more

Epstein Becker & Green

SECURE Act 2.0: What 401(k) Plan Sponsors Need to Know

Epstein Becker & Green on

On December 29, 2022, President Biden signed into law, as part of the Consolidated Appropriations Act of 2023, the SECURE 2.0 Act of 2022 (“SECURE Act 2.0”). SECURE Act 2.0 builds on 2019’s Setting Every Community Up for...more

Jackson Lewis P.C.

SECURE 2.0 Series Part 4: Good News for Sponsors of Pension Plans

Jackson Lewis P.C. on

The SECURE 2.0 Act of 2022 (SECURE 2.0) provides welcome relief to private sector single employer sponsors of defined benefit pension plans (Pension Plan(s)). Effective for plan years beginning on and after January 1, 2024,...more

Faegre Drinker Biddle & Reath LLP

The SECURE Act 2.0: The Most Impactful Provisions (#2–Student Loan Matches)

The President signed the Consolidated Appropriations Act, which included SECURE Act 2.0, on December 29, 2022—the “enactment date”. SECURE Act 2.0 has over 90 provisions, some major and some minor; some are mandatory and...more

Brooks Pierce

SECURE 2.0: Recent Changes to Retirement Plan Laws

Brooks Pierce on

While most of us were busy preparing for the holidays and making New Year’s resolutions, Congress and President Biden were busy rolling out new retirement plan legislation. On Dec. 22 and Dec. 23, respectively, the Senate and...more

Eversheds Sutherland (US) LLP

SECURE 2.0 in 2023 and beyond

President Biden signed the Consolidated Appropriations Act, 2023, on December 29, 2022, which includes the package of retirement plan legislation known as “SECURE 2.0.” SECURE 2.0 contains numerous significant changes for...more

BakerHostetler

SECURE 2.0 Act of 2022 - Congress' Final Gift of 2022 to Retirement Plan Sponsors

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For the second time in approximately three years, Congress passed broad legislation with sweeping impacts on retirement savings programs. The SECURE 2.0 Act of 2022 (SECURE 2.0) was included as part of the Consolidated...more

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