Countless employers have been forced to reduce employees’ hours or terminate employees due to the 2019 novel coronavirus (“COVID-19”). Federal and state governments are working to pass stimulus legislation to assist the...more
3/26/2020
/ Coronavirus/COVID-19 ,
Dependent Care Assistance Program (DCAP) ,
Disaster Relief Fund ,
Employer Group Health Plans ,
Health and Safety ,
Infectious Diseases ,
Paid Time Off (PTO) ,
Public Health ,
Retirement Plan ,
Sick Leave ,
Wage and Hour ,
Workplace Safety
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
Yesterday, the U.S. Supreme Court issued its decision in Intel Corp. Investment Policy Committee et al. v. Sulyma (case number 18-1116). The decision requires a participant to have “actual knowledge” in order to apply ERISA’s...more
3/2/2020
/ Actual or Constructive Knowledge ,
Appeals ,
Breach of Duty ,
Employee Retirement Income Security Act (ERISA) ,
Fiduciary Duty ,
Intel Corp. Investment Policy Committee v. Sulyma ,
Material Disclosures ,
Question of Fact ,
Reaffirmation ,
Retirement Plan ,
Retirement Plan Beneficiaries ,
Reversal ,
SCOTUS ,
Split of Authority ,
Statute of Limitations ,
Summary Judgment
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
On Sept. 18, 2018, the IRS issued modified safe harbor explanations of eligible rollover distributions.1 In addition to making some clarifying changes, the modifications reflect laws enacted and guidance issued since Dec. 8,...more
Section 162(m) of the Internal Revenue Code of 1986, as amended (the “Code”), limits a publicly held corporation’s ability to take a corporate income tax deduction for compensation in excess of $1 million paid to “covered...more