Annually, the Internal Revenue Service, the Social Security Administration and the Pension Benefit Guaranty Corporation adjust for cost-of-living increases certain limitations that impact employee benefit plans. These...more
Section 9501 of the American Rescue Plan Act of 2021 (“ARPA”) requires employers, multiemployer trustees and insurers (collectively, “plan administrators”) to provide a 100% subsidy for COBRA health care continuation coverage...more
One of the first questions that must be addressed in order to determine whether an individual is eligible for the temporary 100% subsidy for COBRA health care continuation coverage (including under state mini-COBRA statutes)...more
Ahead of its April 11, 2021 deadline, the U.S. Department of Labor (“DOL”) has issued some guidance and model notices related to the temporary 100% subsidy for COBRA health care continuation coverage (including under state...more
4/8/2021
/ American Rescue Plan Act of 2021 ,
Benefit Plan Sponsors ,
Biden Administration ,
COBRA ,
Coronavirus/COVID-19 ,
Department of Labor (DOL) ,
Employee Benefits ,
Employer Group Health Plans ,
IRS ,
Notice Requirements ,
Popular ,
Premium Subsidies ,
Relief Measures ,
Tax Credits
The American Rescue Plan Act of 2021 (“ARPA”) includes a temporary 100% subsidy for COBRA health care continuation coverage (including under state mini-COBRA statutes) to “assistance eligible individuals” (“AEIs”). This...more
Annually, the Internal Revenue Service, the Social Security Administration and the Pension Benefit Guaranty Corporation adjust for cost-of-living increases certain limitations that impact employee benefit plans. These...more
As described in greater detail below, Notice 2020-68 includes guidance for implementing the mandatory participation of long-term part-time nonunion employees in 401(k) plans for plan years beginning Jan. 1, 2021....more
The Pension Benefit Guaranty Corporation (“PBGC”) has posted questions and answers (“Q&As”) related to the impact that COVID-19 and the Coronavirus Aid, Relief, and Economic Security Act, Pub. L. 116-136 (March 27, 2020) (the...more
Employers facing significant economic disruption as a result of COVID-19 can save money for their operational cash flow by reducing or eliminating employer contributions to their 401(k) plans. However, ceasing employer...more
New employee benefits guidance temporarily extends certain time frames and deadlines for participant actions and relieves some plan administration compliance obligations during the COVID-19 National Emergency (the “COVID-19...more
With the news about the spread of the 2019 novel coronavirus (“COVID-19”) in the U.S. and the world rapidly evolving, group health plan sponsors need to address how the plan will provide virus-related benefits. ...more
3/13/2020
/ Centers for Medicare & Medicaid Services (CMS) ,
Coronavirus/COVID-19 ,
Emergency Management Plans ,
Emergency Response ,
Employee Benefits ,
Employer Group Health Plans ,
HCPCS ,
HDHP ,
Health Care Providers ,
Health Insurance ,
Health Savings Accounts ,
Infectious Diseases ,
IRS ,
Medical Benefits ,
Medical Examinations ,
Medicare ,
New Guidance ,
Public Health
This chart sets forth some of the annually adjusted dollar limits that impact employee benefits, as published by the Internal Revenue Service, the Social Security Administration and the Pension Benefit Guaranty Corporation.
...more
11/12/2019
/ 401k ,
403(b) Plans ,
457(b) Plans ,
Benefit Plan Sponsors ,
Corporate Counsel ,
Employee Benefits ,
Employer Contributions ,
IRS ,
PBGC ,
Retirement Plan ,
Social Security Administration (SSA)
The IRS has announced a limited expansion of its determination letter program. Beginning Sept. 1, 2019, the IRS will accept determination letter (“DL”) applications for individually designed merged plans....more
5/9/2019
/ Determination Letter ,
Employee Benefits ,
Hybrid Plan ,
IRS ,
Mergers ,
Public Comment ,
Required Amendments (RAs) ,
Retirement ,
Retirement Plan ,
Revenue Procedures ,
U.S. Treasury ,
Voluntary Correction Program
In guidance issued on April 19, 2019, the IRS expands the situations in which retirement plan sponsors can self-correct compliance failures without first having to seek IRS approval or paying a fee. Employers should be aware...more
4/29/2019
/ 403(b) Plans ,
457(b) Plans ,
Benefit Plan Sponsors ,
Employee Benefits ,
EPCRS ,
Filing Deadlines ,
Filing Requirements ,
Internal Revenue Code (IRC) ,
IRS ,
Retirement Plan ,
Revenue Procedures ,
Tax Audits ,
Tax Penalties ,
U.S. Treasury ,
Voluntary Correction Program
Annually, the Internal Revenue Service, the Social Security Administration and the Pension Benefit Guaranty Corporation adjust for cost-of-living increases certain limitations that impact employee benefit plans. These...more
As a resource, the Employee Benefits and Executive Compensation practice at Brownstein Hyatt Farber Schreck prepares a chart identifying the annual adjustments to the dollar limitations that impact employee benefits.
...more
Most companies are genuinely concerned about their employees’ health and well-being. In an effort to incentivize employees to share in that concern, many companies have instituted wellness programs. Significantly, due to a...more
Periodically, the Internal Revenue Service, the Social Security Administration and the Pension Benefit Guaranty Corporation adjust for cost-of-living increases certain limitations that impact employee benefit plans. These...more
The Internal Revenue Service, the Social Security Administration and the Pension Benefit Guaranty Corporation periodically adjust for cost-of-living increases certain limitations that impact employee benefit plans. These...more