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
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
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
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
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
Healthcare coverage became an employer-offered benefit during World War II as the result of the federal government’s wage and price controls. Since that time, Medicare has become an important part of how healthcare is...more
7/12/2019
/ Affordable Care Act ,
Benefit Plan Sponsors ,
Department of Health and Human Services (HHS) ,
Department of Labor (DOL) ,
Disability ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Employer Group Health Plans ,
Fair Labor Standards Act (FLSA) ,
Final Rules ,
Health Insurance ,
Healthcare ,
Healthcare Costs ,
IRS ,
Medicare Secondary Payer Act ,
Proposed Regulation ,
Tax Credits
Health and Welfare Plan Update -
It is 9:00 p.m., do you know where your health plan data is? As IT systems continue to expand, and data is accessed, moved and stored in many new and different ways, the Office for Civil...more
4/4/2019
/ 401k ,
Affordable Care Act ,
Benefit Plan Sponsors ,
Business Associates ,
Civil Monetary Penalty ,
Cloud Storage ,
Constitutional Challenges ,
Employer Group Health Plans ,
Enforcement Actions ,
Fiduciary Duty ,
Form 1094 ,
Form 1095 ,
Health and Welfare Plans ,
Health Care Providers ,
HIPAA Privacy Rule ,
IRS ,
Lump Sum Payments ,
OCR ,
Pensions ,
Plan Administrators ,
Plan Participants ,
Proposed Legislation ,
Request for Production ,
Retirement Plan ,
TPAs ,
Trump Administration