Retirement Plan Task for Year End -
Operational Required Changes for 2024 Long-term part-time employees: Although there is no amendment required to single employer retirement plan documents by December 31, 2023, there are...more
In a new form of outreach from the Center for Medicare and Medicaid Services, the U.S. Department of Treasury, and the U.S. Department of Labor, a letter was issued to employers, plan sponsors, and insurance issuers (the...more
As employers work toward annual enrollment and new service contracts for their health plans, it is key to remember one of the changes to enhance disclosure to individuals contained in the “No Surprises Act” and Transparency...more
The expansion of the time period during which inadvertent errors in a tax qualified retirement plan under section 305 of Division T of the Consolidated Appropriations Act, 2023 provided welcome relief. Under the last...more
Employers wanting to encourage employees to get vaccinated can phrase vaccination incentives as a wellness incentive program so that it is part of an outcome-based wellness program, which may include other wellness programs...more
On July 19, 2021, the Internal Revenue Service, U.S. Department of Labor, and the U.S. Department of Health and Human Services (the “Tri-Agencies”) issued new frequently asked questions (FAQs) regarding the implementation of...more
The Internal Revenue Service updated and expanded the ability to correct plan operational and document defects with the new and improved Employee Plans Compliance Resolution System (Rev. Proc. 2021-30) (EPCRS). Issued and...more
During the last administration, Texas joined by a number of other states filed suit seeking to overturn the Patient Protection and Affordable Care Act (ACA) because the individual mandate penalty in such law had its penalty...more
The Internal Revenue Service has provided additional guidance on the the American Rescue Plan Act’s COBRA premium assistance. Greta Cowart summarizes the top 10 takeaways of Notice 2021-31 specifically related to group health...more
The American Rescue Plan Act (the “Relief Act”) expands dependent care assistance tax credits to 50% from 35% and increases the dollar limitation. While this is an individual income tax question, employers offering dependent...more
On Thursday, March 11, President Biden signed the American Rescue Plan Act of 2021 into law. The rescue plan affects a number of issues surrounding employer-provided health coverage, specifically triggering a number of...more
In the American Rescue Plan Act (the “Relief Act”), a subsidy for the payment of COBRA premiums was added for the period beginning on April 1, 2021, through September 30, 2021. Unlike previous COBRA premium subsidies, this...more
As companies of all types and sizes continue to deal with the potential legal implications of the COVID-19 pandemic for their businesses, Jackson Walker provides insights and resources on the COVID-19 Legal Resources &...more
The protections for participants and their beneficiaries in the Patient Protection and Affordable Care Act (ACA) were expanded by the Consolidated Appropriations Act, 2021 (the “Act”). Some of the changes build on concepts in...more
Employee Fringe Benefit Changes -
Student Loan Repayment -
The Consolidated Appropriations Act, 2021 (the “Act”) extended the period during which an employer may pay a portion of a student’s loan under an educational...more
1/12/2021
/ Compensation & Benefits ,
Consolidated Appropriations Act (CAA) ,
Coronavirus/COVID-19 ,
Employee Benefits ,
Flexible Spending Accounts ,
Fringe Benefits ,
Income Taxes ,
Natural Disasters ,
Retirement Plan ,
Student Loans ,
Tax Deductions ,
Withholding Tax
Extension of Credit for Paid Leave Provided When There Is No State or Local Law Mandating Such Paid Leave The Consolidated Appropriations Act, 2021 (the “Act”) amended many provisions. It amended the employer credit under...more
1/11/2021
/ Coronavirus/COVID-19 ,
Employee Retention ,
Families First Coronavirus Response Act (FFCRA) ,
Family and Medical Leave Act (FMLA) ,
Medical Leave ,
Paid Leave ,
Popular ,
Sick Leave ,
Sick Pay ,
Tax Credits ,
Tax Exempt Entities
As the last few days of the last plan year ending in 2020 come to a close, the Consolidated Appropriations Act, 2021 (the “Act”) makes a big change for all flexible spending accounts with a plan year ending in 2020 on or...more
Payroll Tax Relief Under CARES Act, FFCRA, and Executive Order -
While the Coronavirus Aid, Relief, and Economic Security (CARES) Act permitted employers to defer depositing the portion of the FICA taxes the employer pays...more
8/12/2020
/ 401k ,
Affordable Care Act ,
Benefit Plan Sponsors ,
CARES Act ,
Contraceptive Coverage Mandate ,
Defined Benefit Plans ,
Employee Benefits ,
Employee Contributions ,
Employer Group Health Plans ,
Employment Tax ,
Executive Orders ,
Families First Coronavirus Response Act (FFCRA) ,
FICA Taxes ,
Health Plan Sponsors ,
IRA Rollovers ,
IRS ,
Medical Leave ,
Payroll Taxes ,
Pension Funds ,
Pensions ,
Retirement Plan ,
Safe Harbors ,
Sick Leave ,
Tax Relief ,
Wage and Hour
The Coronavirus Aid, Relief And Economic Security (CARES) Act and the Setting Every Community Up for Retirement Enhancement (SECURE) Act both made changes to required minimum distribution rules. The SECURE Act changes the age...more
6/26/2020
/ Benefit Plan Sponsors ,
CARES Act ,
Coronavirus/COVID-19 ,
Employee Benefits ,
Employer Group Health Plans ,
Families First Coronavirus Response Act (FFCRA) ,
New Guidance ,
Public Health ,
Relief Measures ,
Required Minimum Distributions ,
Retirement ,
Retirement Funds ,
Retirement Plan ,
SECURE Act ,
Self-Insured Health Plans ,
Wellness Programs
After the CARES Act was enacted, plan administrators had questions regarding how to determine if a participant is eligible to receive a Coronavirus distribution, Coronavirus loan, or delay of loan payments because a...more
6/23/2020
/ 401k ,
Benefit Plan Sponsors ,
CARES Act ,
Coronavirus/COVID-19 ,
Deferred Compensation ,
Eligibility ,
Employee Benefits ,
Furloughs ,
Hardship Distributions ,
IRS ,
Layoffs ,
Pensions ,
Relief Measures ,
Retirement Plan
As employers start to think about asking their employees to return to work, in addition to all of the employment law issues, there are also employee benefit plan considerations. Employers need to consider all their benefit...more
5/14/2020
/ Benefit Plan Sponsors ,
CARES Act ,
COBRA ,
Coronavirus/COVID-19 ,
Deadlines ,
EBSA ,
Employee Benefits ,
Flexible Spending Accounts ,
HDHP ,
Health Savings Accounts ,
IRS ,
Relief Measures ,
Tax Deductions ,
Telehealth
Jackson Walker posted its update to FAQs on employment issues arising out of the COVID-19 pandemic.
The JW updates reflect recent Department of Labor (DOL) regulations and guidelines for employer compliance with the...more
4/13/2020
/ Coronavirus/COVID-19 ,
Department of Labor (DOL) ,
EFMLA ,
Employer Liability Issues ,
Employment Policies ,
EPSLA ,
Families First Coronavirus Response Act (FFCRA) ,
Family and Medical Leave Act (FMLA) ,
Health and Safety ,
Infectious Diseases ,
IRS ,
Paid Leave ,
Public Health ,
Sick Leave ,
Tax Credits ,
Wage and Hour ,
Workplace Safety
The Internal Revenue Service (IRS) released 66 questions and answers illuminating important calculations, procedural requirement, and document retention requirements related to the tax credits available under the Families...more
4/9/2020
/ Coronavirus/COVID-19 ,
Federal Taxes ,
Income Taxes ,
IRS ,
Paid Leave ,
Popular ,
Qualified Health Plans ,
Record Retention ,
Self-Insured Health Plans ,
Sick Leave ,
Tax Credits ,
Tax Deductions ,
Tax Relief
On Friday, March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) passed the Senate and House and was signed into law. In addition to spending $2 trillion to support individuals and...more
3/31/2020
/ Benefit Plan Sponsors ,
CARES Act ,
Coronavirus/COVID-19 ,
Department of Labor (DOL) ,
Employee Benefits ,
Employee Retention ,
Employee Retirement Income Security Act (ERISA) ,
Executive Compensation ,
Families First Coronavirus Response Act (FFCRA) ,
HDHP ,
Health Plan Sponsors ,
HIPAA Privacy Rule ,
Medical Testing ,
Pensions ,
Required Minimum Distributions ,
Retirement Plan ,
Student Loans ,
Tax Credits
More Relief Provided Late on Friday -
On March 20, 2020, a joint news release issued by the Internal Revenue Service, the U.S. Treasury Department, and the U.S. Department of Labor announced regulations to be issued this...more
3/23/2020
/ 401k ,
403(b) Plans ,
Coronavirus/COVID-19 ,
Department of Labor (DOL) ,
Disaster Preparedness ,
Employee Assistance Programs ,
Families First Coronavirus Response Act (FFCRA) ,
IRS ,
Medicare ,
Paid Leave ,
Paid Time Off (PTO) ,
Payroll Taxes ,
Qualified Disaster Relief Payments ,
Sick Pay ,
Social Security ,
Tax Credits ,
U.S. Treasury