Seyfarth Synopsis: It’s here for your post-Thanksgiving turkey hangover reading pleasure! The Department of Treasury and IRS released on Friday (in the middle of most people’s long holiday weekend) their proposed rules for...more
11/29/2023
/ 401k ,
Eligibility Determination ,
Employee Benefits ,
Employees ,
Internal Revenue Code (IRC) ,
IRS ,
Part-Time Employees ,
Proposed Rules ,
Retirement Plan ,
Safe Harbors ,
SECURE Act ,
U.S. Treasury
Seyfarth Synopsis: Fresh on the heels of the IRS Chief Counsel Memorandum on wellness and indemnity products, discussed in our prior post here, the agencies have weighed in with more formal and more expansive guidance...more
Seyfarth Synopsis: Just like a bad penny, schemes promising employers ways to reduce their FICA tax burden, and maybe their employees’ income tax burden at the same time, keep popping up with a slightly different burnish on...more
Seyfarth Synopsis: The Consolidated Appropriations Act of 2021 (“CAA”) offers significant relief for employers sponsoring flexible spending accounts (for a more detailed description of those changes, check out our alert). ...more
On December 20th, before the outbreak of COVID-19 and the resulting pandemic, President Trump signed into law the Setting Every Community Up For Retirement Enhancement Act of 2019 (the “SECURE Act”) and the Bipartisan...more
9/10/2020
/ Automatic Enrollment ,
Corporate Counsel ,
Distribution Rules ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Individual Retirement Account (IRA) ,
Internal Revenue Code (IRC) ,
IRS ,
Mining ,
Popular ,
Retirement Plan ,
SECURE Act ,
Tax Credits ,
Tax Planning ,
Vesting
On May 12, the IRS released Notices 2020-29 and 2020-33, which collectively provide various forms of relief under the existing IRC Section 125/129 rules in light of the COVID-19 pandemic. ...more
Seyfarth Synopsis: On April 11, the IRS, DOL and HHS issued a series of FAQs clarifying the scope of the FFCRA/CARES Act mandates relating to COVID-19 testing for group health plans and health insurance issuers. This post...more
4/18/2020
/ CARES Act ,
Coronavirus/COVID-19 ,
Department of Health and Human Services (HHS) ,
Department of Labor (DOL) ,
Families First Coronavirus Response Act (FFCRA) ,
Family and Medical Leave Act (FMLA) ,
Financial Stimulus ,
IRS ,
Popular ,
Relief Measures ,
Sick Leave ,
Sick Pay ,
Tax Credits
Seyfarth Synopsis: Several deadlines established by the IRS to adopt amendments or restatements to employer-sponsored retirement plans, and in this instance specifically, to 403(b) plans maintained by tax-exempt entities and...more
Seyfarth Synopsis: As we have been raising in our series of blog posts and Legal Updates, the impact of the coronavirus is far-reaching, and there are a number of concerns relating to employer-sponsored retirement plans to...more
Seyfarth Synopsis: One of many COVID-19 benefits-related concerns focused on the ability of individuals covered under High Deductible Health Plans to have services to diagnose or treat the coronavirus covered before their...more
3/13/2020
/ Clinical Laboratory Testing ,
Coronavirus/COVID-19 ,
Cost-Sharing ,
Crisis Management ,
Deductible Expenses ,
Emergency Response ,
Employee Benefits ,
HDHP ,
Health and Safety ,
Health Insurance ,
HSA ,
Infectious Diseases ,
IRS ,
New Guidance ,
Public Health ,
Relief Measures
Seyfarth Synopsis: The IRS recently issued somewhat helpful guidance to plan administrators on what to do about the constant problem of uncashed benefit checks from qualified retirement plans. The initial excitement upon...more
Last year, the IRS published the calendar year 2018 health savings account (HSA) contribution limits for individual and family coverage. Rev. Proc. 2017-37, I.R.B. 2017-21 (5/4/2017). ...more
Certain employee benefit plans, including qualified retirement plans, must file an annual return/report on Form 5500 with the Department of Labor, which is shared with the IRS. Each year discreet changes are typically made...more
This is the ninety-eighth issue in our health care reform series of alerts for employers on selected topics in health care reform. This series of Health Care Reform Management Alerts is designed to provide a more in-depth...more
Following up on the Supreme Court’s decisions in both Windsor v. United States and Obergefell v. Hodges, discussed in our earlier Alerts (here and here), on October 21, 2015 the IRS issue proposed regulations clarifying that...more
With Announcement 2015-19, the Internal Revenue Service has effectively ended the determination letter program for individually designed qualified plans as of January 1, 2017. Individually designed plans can still obtain...more
This is the ninety-first issue in our series of alerts for employers on selected topics in health care reform. This series of Health Care Reform Management Alerts is designed to provide an in-depth analysis of certain aspects...more