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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

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

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

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

IRS Releases Benefits and Contribution Limits for 2017

The Internal Revenue Service (IRS) recently issued its annual update regarding dollar limitations on contributions and benefits applicable to tax-qualified retirement and welfare plans for 2017. Please see full...more

IRS Clarifies Benefit Coverage Requirements for Employees of Tax-Exempt Disregarded Entities

The Internal Revenue Service (IRS) recently issued General Counsel Memorandum 201634021 (Memorandum), clarifying benefit coverage requirements for employees of a disregarded LLC wholly owned by a single member tax-exempt...more

Department of Labor Updates ERISA’s Civil Penalties

Pursuant to recently amended federal legislation, the Department of Labor (DOL), among several other federal agencies, is increasing its civil monetary penalties to adjust for inflation. Among the penalties to be increased...more

Department of Labor Issues Final Fiduciary Rules

On April 6, 2016, the U.S. Department of Labor (DOL) issued its long-awaited final conflict of interest rule defining the term “fiduciary” for retirement investment advice purposes. The final regulations and accompanying...more

U.S. Supreme Court Reaffirms ERISA’s Preemption Provisions as Applied to State Health Law Reporting Requirements

Recently, the U.S. Supreme Court, in Gobeille v. Liberty Mutual Insurance Co., 2016 U.S. LEXIS 1612, underscored the broad extent to which the preemption language of the Employee Retirement Income Security Act of 1974...more

February 2016 IRS Issues Notice on Midyear Changes to Safe Harbor Plans and Safe Harbor Notices

On January 29, 2016, the Internal Revenue Service (IRS) released Notice 2016 - 16 , which provides, effective immediately, significant relief with respect to the ability of a plan sponsor to make midyear changes to a safe...more

The OFCCP’s War Path: Federal Contractors Take Note

Subject to very limited exceptions, employees of federal contractors must be permitted to discuss their compensation without retaliation or fear of intimidation. Federal contractors will be required to provide paid sick...more

Action Required for Health Plans and Their Business Associates

Early last year, the Department of Health and Human Services issued final privacy and security regulations (Final Rule) under the Health Insurance Portability and Accountability Act of 1996 (HIPAA). The Final Rule, effective...more

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