News & Analysis as of

Employee Benefits

The First Dinosaur Has Died

by Jackson Lewis P.C. on

The New York Teamsters Road Carriers Local 707 Pension Fund (the “Local 707 Pension Fund”) is dead, reportedly having run out of money in early March 2017. The Pension Benefit Guaranty Corporation (“PBGC”) the federal...more

Structuring A Parking Reimbursement Plan As A Taxable Or Tax-Free Fringe Benefit

by Dickinson Wright on

In Information Letter 2017-0007, the IRS analyzed an employer’s parking reimbursement arrangement and concluded that it was not a tax-free fringe benefit. ...more

ML Strategies Alert - FY2018 Massachusetts Budget Update: House Ways and Means Budget

On Monday, April 10th, the House Ways and Means Committee proposed a $40.3 billion budget for FY2018 that calls for increasing spending by 3.8 percent, or about $1.47 billion, above FY2017 levels. The spending increase is...more

The Fate of the ACA’s Cost-Sharing Reduction Subsidies

by Perkins Coie on

As deliberations over a replacement of the Affordable Care Act (ACA) continue in the U.S. House of Representatives, the fate of the ACA’s Cost-Sharing Reduction subsidies (CSRs) may be at stake. Under the ACA, Marketplace...more

HHS Finalizes Health Insurance Market Stabilization Rules

by Ballard Spahr LLP on

The U.S. Department of Health and Human Services (HHS) has finalized regulations designed to help stabilize the individual and small group health insurance markets and, in particular, the health insurance exchanges...more

The Official Delay of the Fiduciary Rule: A Compromise

by Snell & Wilmer on

On April 7, 2017, the DOL published a final rule, officially delaying the applicability of the Fiduciary Rule for 60 days, until June 9, 2017....more

Issue 108: HHS Moves Ahead In Face of ACA Uncertainty

by Seyfarth Shaw LLP on

This is the one hundred and eighth issue in our series of alerts for employers on selected topics on health care reform. This series of Health Care Reform Management Alerts is designed to provide an in-depth analysis of...more

IRS Announces End Date for 403(b) Remedial Amendments

Many tax exempt employers sponsor Section 403(b) retirement plans to help their employees save money for retirement. A 403(b) plan offers the ability for an employee to make pre-tax contributions to the plan (similar to the...more

DOL Continues Investigating Defined Benefit Plans Regarding Procedures for Locating Participants and Paying Benefits at Mandatory...

by Jackson Lewis P.C. on

The U.S. Department of Labor (DOL) publicized last year its stepped up enforcement efforts inquiring about procedures used by larger defined benefit plans for locating, and then beginning payment of benefits to, terminated...more

The War on Employee Misclassification: Will Trump Call a Cease Fire?

by LeClairRyan on

During its two terms, the Obama Administration declared war on misclassification of employees as independent contractors. The U.S. Department of Labor (DOL) issued additional guidance on the proper classification of workers....more

D.C. Universal Paid Family Leave Law Now In Effect

On April 7, 2017, the D.C. Universal Paid Leave Amendment Act of 2016 (the “Act”) (L21-0264) took effect as Congress’s 30 legislative day clock to overturn the Act via a joint resolution expired. As we have previously...more

HR Expects to Continue Increasing Focus on Gig Economy Model

by Fisher Phillips on

Driven by a scarcity of qualified talent and the need for their companies to be increasingly agile and cost-effective, human resources (HR) leaders are increasing their focus on and preparing to embrace the mounting gig...more

Treasury Releases Report on Employer Mandate Enforcement

by Littler on

On April 7, 2017, the Treasury Inspector General for Tax Administration (TIGTA) published a report on the “Assessment of Efforts to Implement the Employer Shared Responsibility Provision.”  This report1 provides clues to the...more

DOL’s Fiduciary Rule: On the Road to More Change?

by Burns & Levinson LLP on

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

How to Avoid Costly Beneficiary Designation Litigation – Helpful Hints for All Benefit Plans

by Foley & Lardner LLP on

When administering an employee benefits plan, it is critically important to provide clear and specific instructions as to how a participant can designate a beneficiary. A recent federal district court opinion in Florida...more

Paid Family Leave: Is Your Company Aware of the Latest Ordinances?

by Foley & Lardner LLP on

Family values and putting Americans back to work were common refrains during the last political cycle. President Trump spoke about child care and family leave in his January joint address to Congress and Ivanka Trump has met...more

DOL Issues Final Rule Delaying Fiduciary Rule until June 9, 2017

by Robinson & Cole LLP on

As ordered by President Trump in a presidential memorandum on February 3, 2017, (Memorandum), the U.S. Department of Labor (DOL) proposed a 60-day delay to its conflict of interest rule (commonly referred to as the “fiduciary...more

Are Employers Required to Make Contributions to Union Pension Fund for “Bonus” Payments?

by Farrell Fritz, P.C. on

Hammering Nails Construction has a CBA (collective bargaining agreement) with Local 1 of the United Brotherhood of Widgetmakers (“Union”). After a pension fund audit, Hammering Nails received a letter claiming it owed...more

DOL Fiduciary Rule Officially Delayed

by Seyfarth Shaw LLP on

On April 4, 2017, the Department of Labor (“DOL”) issued a final rule extending by 60 days the applicability date of the final “fiduciary” regulation published a year ago (known colloquially as the “Fiduciary Rule”)....more

WPI Insider Briefing: What Happened to Health Care Reform and Where is the Department of Labor Headed?

by Littler on

Republicans hoped to mark the seventh anniversary of the Affordable Care Act's (ACA) enactment by passing legislation in the U.S. House of Representatives to dismantle it. Instead, facing the failure of a bill on the House...more

Update on the Department of Labor’s New Fiduciary Rules and Subsequent Challenges

On April 6, 2016, the Department of Labor under the Obama administration issued a new final rule and exemptions addressing when a person providing investment advice with respect to an employee benefit plan or individual...more

Pension Alerter - April 2017

by Hogan Lovells on

PENSION SCHEME INVESTMENT - New investment could have faced trustees with unlimited liability - Our investment funds team recently identified some highly detrimental terms, including potential unlimited liability,...more

The new pensions advice allowance: implications for trustees

by Hogan Lovells on

As announced in the 2016 Autumn Statement, pension schemes may (but will not be required to) allow members to withdraw up to £500 from their defined contribution (DC) pension pots to pay for financial advice about retirement....more

April 18, 2017 is the Deadline to Make Contributions to a Health Savings Account for 2016

by Dickinson Wright on

If you were eligible in 2016 to make contributions to a Health Savings Account (H.S.A.) and you have not already made the maximum contribution for the year, you have until April 18, 2017 to make your contribution. Unlike...more

Charges and governance requirements for Defined Contribution pensions

by Hogan Lovells on

This note sets out the areas in which restrictions on charges and governance requirements apply to trustees or managers of occupational money purchase schemes. These requirements have been introduced over the last two years...more

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