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IRS Returns 2018 Annual Family Limit for HSAs Back to $6,900

In May 2017, the Internal Revenue Service (“IRS”) issued Revenue Procedure 2017-37, which set the 2018 limit at $6,900 for annual contributions made to a health savings account (“HSA”) by those with eligible family health...more

The Fate of the Department of Labor Fiduciary Rule Could Be Uncertain

On May 22, 2017, Department of Labor (“DOL”) Secretary Alexander Acosta announced in an op-ed in the Wall Street Journal that the DOL would not issue another delay of the “fiduciary rule,” and that it was set to generally...more

Federal Budget Deal Includes Changes to Retirement Provisions

The Bipartisan Budget Act of 2018 (Act) was approved by Congress and signed into law by the President on February 9, 2018. Included in the Act are certain provisions impacting retirement plans that were initially considered...more

Federal Tax Reform — Key Provisions for Tax Exempt Organizations

On December 22, 2017, President Trump signed into law the Tax Cuts and Jobs Act (H.R. 1), or the "Act," a comprehensive tax reform package representing an overhaul of federal taxation arguably ona level not seen in more than...more

Data Privacy + Cybersecurity Insider - January 2018 #2

Health Care Organizations Saw an 89% Increase in Ransomware in 2017 - Our experience last year is consistent with the conclusion of a new report issued by Cryptonite in its 2017 Health Care Cyber Research Report—that the...more

IRS Issues Changes to Voluntary Compliance Program User Fees

On January 2, 2018, the Internal Revenue Service(IRS) issued Internal Revenue Bulletin 2018-1, containing Internal Revenue Procedure 2018-4, which includes new user fees for submissions under the Voluntary Correction Program...more

Lessons Learned from Recent OCR HIPAA Audits

Covered entities, including employer sponsored health plans, should brace for audits and enforcement of the Privacy, Security, and Breach Notification rules by the Department of Health & Human Service Office of Civil Rights...more

Tax Cut Impacts on Executive Compensation and Employee Benefits

After much back and forth, the House and Senate both voted to pass the Tax Cuts and Jobs Act (Act), and the President is expected to sign the legislation shortly. The changes made by the Act are arguably the biggest leap...more

Connecticut Department of Revenue Services Issues Additional Guidance on the New Mandatory Income Tax Withholding Requirements for...

On December 7, 2017, the Connecticut Department of Revenue Services (DRS) issued additional guidance regarding the new statutory withholding requirements for certain payors of pension and annuity payments set to take effect...more

New Connecticut Mandatory Income Tax Withholding Requirements for Pension and Annuity Payments

New legislation, effective January 1, 2018, will require certain payors of pensions and annuities to withhold Connecticut state income tax from distributions made from an employer pension, annuity, profit-sharing plan, stock...more

Puerto Rico’s Hacienda Issues Tax Relief for Victims of Hurricane

On October 4, 2017, the Puerto Rico Department of Treasury (Hacienda) issued Administrative Determination No. 17-21 (Notice), which clarifies the tax treatment of certain payments made to assist those affected by Hurricane...more

White House Expands Exemptions to ACA Contraceptive Mandate

The Department of Health and Human Services (HHS) issued interim final rules on October 6, 2017, expanding exemptions to protect religious beliefs and moral convictions for certain entities and individuals whose health plans...more

October 1, 2017: Connecticut Employers Subject to New Law Protecting Pregnant Employees

Connecticut has joined a growing trend of states and municipalities expanding the protections afforded to pregnant employees and applicants. Connecticut’s new law, effective October 1, 2017, entitled An Act Concerning...more

Special Rules for Plans due to Hurricane Irma

On September 12, 2017, the Internal Revenue Service (IRS) issued Announcement 2017-13, which provides guidance on the ability of qualified plans to provide plan loans and hardship distributions to people in Florida affected...more

DOL Seeks to Extend Transition Period under the Fiduciary Rule

The U.S. Department of Labor (DOL) has filed a proposal with the Office of Management and Budget (OMB) to delay implementation of the following exemptions under the fiduciary rule from January 1, 2018 to July 1,...more

Department of Labor Secretary Acosta Announces Partial Implementation of the Fiduciary Rule

On May 22, 2017, Department of Labor (DOL) Secretary Alexander Acosta announced in an op-ed in the Wall Street Journal that the DOL will not issue another delay of the “fiduciary rule,” set to become generally effective on...more

Department of Labor Secretary Acosta Announces Partial Implementation of the Fiduciary Rule

On May 22, 2017, Department of Labor (DOL) Secretary Alexander Acosta announced in an op-ed in the Wall Street Journal that the DOL will not issue another delay of the “fiduciary rule,” set to become generally effective on...more

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

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

President Trump Calls for a Review of DOL’s Fiduciary Rule

On February 3, 2017, President Trump signed a presidential memorandum (Memorandum) ordering the U.S. Department of Labor (DOL) to review its conflict of interest rule defining the term “fiduciary” for retirement investment...more

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