A recent memorandum from the IRS Office of Chief Counsel serves as a helpful reminder to check in on cafeteria plan administration and ensure all processes—including claims substantiation for medical expenses and dependent...more
Cryptocurrency is becoming more popular, so it is natural that you or your participants may be wanting to add a cryptocurrency investment option to your retirement plan. But can you include a cryptocurrency option without...more
Benefit plan sponsors and plan fiduciaries should take note and act quickly—the Department of Labor (DOL) has issued a new cybersecurity guidance package with far-reaching effects and has already begun including this in its...more
8/3/2021
/ Benefit Plan Sponsors ,
Cybersecurity ,
Department of Labor (DOL) ,
Employee Retirement Income Security Act (ERISA) ,
GAO ,
New Guidance ,
Personally Identifiable Information ,
Plan Participants ,
Popular ,
Retirement Plan ,
Risk Assessment
The landscape for employers has been changing quickly in the wake of COVID-19. Many employers are adapting to new ways of working and looking for ways to support employees with living and working through the COVID-19...more
On Thursday May 23rd, the House of Representatives passed the Setting Every Community Up for Retirement Enhancement Act of 2019 (the “SECURE” Act) with a near unanimous vote. Billed as an attempt to encourage retirement...more
Do you provide parking for your employees? If so, take note: the expense has gone up (and, for tax-exempt employers, may now result in additional tax liability!)....more
Finding and Fixing Your Own Noncompliance -
During the 2016 Legislative Session, the N.C. Assisted Living Association (NCALA) was instrumental in bringing about passage of House Bill 667 which modified existing law on...more
6/19/2018
/ Assisted Living Facilities (ALFs) ,
Employer Liability Issues ,
Family and Medical Leave Act (FMLA) ,
Fringe Benefits ,
Internal Revenue Code (IRC) ,
IRS ,
Long Term Care Facilities ,
Long-Term Care ,
Nonprofits ,
Tax Credits ,
Tax Cuts and Jobs Act ,
UBTI
The Tax Cuts and Jobs Act was signed into law on December 22, 2017. The Act modifies the tax consequences of certain employer-provided fringe benefits, including those related to transportation, moving, meals, entertainment,...more
The year-end is rapidly approaching! To avoid costly penalties from inadvertent errors in the year-end rush, plan sponsors should begin talking with their service providers now about what must be done by year-end. Our first...more