On December 29, 2022, as part of the Consolidated Appropriations Act of 2023, President Biden signed into law the SECURE 2.0 Act of 2022 (“SECURE 2.0”). SECURE 2.0 makes many significant changes to the employer sponsored...more
2/7/2023
/ 401k ,
403(b) Plans ,
Benefit Plan Sponsors ,
Contribution Limits ,
Employee Benefits ,
Individual Retirement Account (IRA) ,
Natural Disasters ,
Relief Measures ,
Required Minimum Distributions ,
Retirement ,
Retirement Plan ,
Roth IRA ,
Safe Harbors ,
SECURE Act ,
Student Loans
As we previously reported in 2020, the IRS granted temporary relief from the physical presence requirement under regulations governing participant elections and spousal consents for certain retirement plans. Generally, those...more
The IRS recently issued Notice 2021-26, which provides guidance related to certain pandemic relief provisions including carry-overs and extended grace periods which impact dependent care assistance programs (DCAPs) provided...more
As we previously reported, the recently enacted American Rescue Plan Act of 2021 (ARPA) includes a six-month COBRA premium subsidy whereby the federal government subsidizes 100% of the COBRA premium during the period of April...more
5/26/2021
/ American Rescue Plan Act of 2021 ,
Biden Administration ,
COBRA ,
Coronavirus/COVID-19 ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Health Insurance ,
IRS ,
New Guidance ,
Premium Subsidies ,
Premiums ,
Relief Measures ,
Tax Credits
As we previously reported, the recently enacted American Rescue Plan Act of 2021 (ARPA) includes a six-month COBRA premium subsidy whereby the federal government subsidizes 100% of the COBRA premium during the period of April...more
4/13/2021
/ American Rescue Plan Act of 2021 ,
Benefit Plan Sponsors ,
Biden Administration ,
COBRA ,
Coronavirus/COVID-19 ,
Department of Labor (DOL) ,
Employer Group Health Plans ,
Health Insurance ,
Notice Requirements ,
Premium Subsidies ,
Relief Measures
On December 27, 2020, the President signed a bill passed by Congress providing additional COVID-19 related relief and stimulus. The key provisions impacting employers and current and former employees are summarized below,...more
1/4/2021
/ CARES Act ,
Coronavirus/COVID-19 ,
Department of Labor (DOL) ,
Economic Injury Disaster Loans ,
Emergency Sick Leave Laws ,
Families First Coronavirus Response Act (FFCRA) ,
Financial Stimulus ,
IRS ,
Paid Leave ,
Paycheck Protection Program (PPP) ,
Relief Measures ,
Sick Leave ,
Tax Credits ,
Time Extensions ,
Unemployment Benefits
In IRS Notice 2020-42, and in light of current social distancing rules, the IRS recently granted temporary relief from the physical presence requirement under regulations governing participant elections. Generally, those...more
The Internal Revenue Service (IRS) recently issued Notice 2020-29 and Notice 2020-33 to provide relief for employees participating in a Section 125 cafeteria plan. Although temporary, the changes will provide employees...more
This article was originally published on March 18, 2020 and has been updated in light of FFCRA developments as of March 26, 2020, March 27, 2020 and March 30, 2020. The updates to the original article are summarized...more