The February Monthly Minute highlights a new online ACA reporting alternative, the DOL’s temporary policy regarding escheatment of small retirement benefits owed to missing participants, and new guidance clarifying the gag...more
2/25/2025
/ Affordable Care Act ,
Beneficiaries ,
Department of Labor (DOL) ,
Employee Retirement Income Security Act (ERISA) ,
Fiduciary Duty ,
Gag Clauses ,
IRS ,
Missing Plan Participants ,
New Guidance ,
Reporting Requirements ,
Required Forms ,
Retirement Plan ,
Unclaimed Property
The November Monthly Minute kicks off the season of giving with SECURE 2.0 requirements for 2025 and the latest IRS retirement plan cost-of-living adjustments....more
11/20/2024
/ 401k ,
403(b) Plans ,
Automatic Enrollment ,
Compensation & Benefits ,
Compliance ,
Cost-of-Living Adjustment (COLA) ,
Employee Benefits ,
Employees ,
Employer Liability Issues ,
Highly Compensated Employees ,
IRS ,
Retirement ,
Retirement Plan ,
Roth IRA ,
SECURE Act ,
Threshold Requirements
The August Monthly Minute highlights new IRS guidance addressing student loan matching programs, HHS’s increases to civil monetary penalties and Form 5330 paper filing updates....more
8/28/2024
/ Benefit Plan Sponsors ,
Civil Monetary Penalty ,
Department of Health and Human Services (HHS) ,
E-Filing ,
Employee Benefits ,
Employees ,
Employer Contributions ,
Employer Group Health Plans ,
Employer Liability Issues ,
Filing Requirements ,
Health Insurance Portability and Accountability Act (HIPAA) ,
HIPAA Privacy Rule ,
HIPAA Security Rule ,
IRS ,
Medicare ,
Privacy Laws ,
Required Forms ,
SBC ,
SECURE Act ,
Student Loans
The June Monthly Minute highlights recent DOL guidance on annuity provider selection for defined benefit plans and IRS Q&As that provide details on SECURE 2.0’s optional emergency and domestic abuse victim distributions for...more
The February Monthly Minute discusses a class action suit alleging a breach of fiduciary duties in connection with ERISA benefit plan prescription drug pricing and the latest IRS guidance on defined contribution plan...more
2/28/2024
/ Benefit Plan Sponsors ,
Breach of Duty ,
Defined Contribution Plans ,
Drug Pricing ,
Employee Retirement Income Security Act (ERISA) ,
Employees ,
Employer Liability Issues ,
ERISA Litigation ,
IRS ,
Pharmaceutical Industry ,
Pharmacy Benefit Manager (PBM) ,
Prescription Drugs ,
Savings Plans ,
SECURE Act
The January Monthly Minute digs deeper into the IRS’ SECURE 2.0 implementation guidance. As promised, in the January Monthly Minute, we are providing additional details of the IRS’ SECURE 2.0 implementation guidance. Noted...more
The IRS just couldn’t wait for Christmas to gift everyone Miscellaneous Changes Under the Secure 2.0 Act of 2022! Notice 2024-2 is meant to provide guidance on discreet issues to assist with SECURE 2.0 implementation...more
The November Monthly Minute digs into the new proposed LTPT regulations, 2024 benefit limits, and the NBA health plan fraud verdict.
Indigestion from Turkey and Stuffing or the IRS’ Proposed LTPT Regulations?...more
11/29/2023
/ Benefit Plan Sponsors ,
Cost-of-Living Adjustment (COLA) ,
Criminal Prosecution ,
Employee Benefits ,
Employer Liability Issues ,
Healthcare Fraud ,
IRS ,
Proposed Rules ,
Regulatory Requirements ,
Retirement Plan ,
SECURE Act
The June Monthly Minute highlights EPCRS expansion under SECURE 2.0 as well as various SECURE 2.0 technical corrections, and the termination of COVID-19 relief previously applicable to HDHPs....more
The March Monthly Minute highlights new proposed deadlines for use of retirement plan forfeitures, unsuccessful efforts to overturn the final ESG rule, and ACA penalty increases for 2024.
Sorry Not Sorry: Biden Vetoes...more
3/27/2023
/ 401k ,
Deadlines ,
Employee Retirement Income Security Act (ERISA) ,
Environmental Social & Governance (ESG) ,
Fiduciary Duty ,
Forfeiture ,
IRS ,
Joe Biden ,
Penalties ,
Presidential Veto ,
Proposed Regulation ,
Reporting Requirements
The February Monthly Minute addresses new IRS electronic filing requirements, the extension of pre-deductible telehealth coverage, and the end of the public health and national emergencies’ impact on benefit plan coverage and...more
2/28/2023
/ Benefit Plan Sponsors ,
Coronavirus/COVID-19 ,
Electronic Filing ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Final Rules ,
Health Insurance Portability and Accountability Act (HIPAA) ,
IRS ,
Public Health Emergency ,
Regulatory Agenda ,
Telehealth ,
Vaccinations ,
Virus Testing
The Senate ushered in the New Year with a bang by passing SECURE 2.0 on December 22, 2022. SECURE 2.0 includes many updates to the sweeping changes brought about under 2019’s original SECURE Act legislation...more
1/31/2023
/ 401k ,
403(b) Plans ,
Employee Retirement Income Security Act (ERISA) ,
EPCRS ,
ESOP ,
IRS ,
New Guidance ,
Non-Discrimination Rules ,
Open Enrollment ,
Part-Time Employees ,
PEP ,
Retirement Plan ,
Roth IRA ,
SECURE Act ,
Student Loans
The Senate ushered in the New Year with a bang by passing SECURE 2.0 on December 22, 2022. SECURE 2.0 includes many updates to the sweeping changes brought about under 2019’s original SECURE Act legislation. The following are...more
1/27/2023
/ 401k ,
Automatic Enrollment ,
Employee Benefits ,
Employer Liability Issues ,
ESOP ,
Health Insurance ,
Internal Revenue Code (IRC) ,
IRS ,
Life Insurance ,
New Legislation ,
Pensions ,
PEP ,
Required Minimum Distributions ,
SECURE Act ,
Tax Deferral
The December Monthly Minute highlights the IRS’ decision to make permanent the ACA individual-reporting extension and EBSA’s restoration of $1.4B as a result of its FY22 enforcement actions....more
12/21/2022
/ Beneficiaries ,
EBSA ,
Employee Benefits ,
Employees ,
Employer Liability Issues ,
Final Rules ,
Form 1095 ,
IRS ,
Large Employer ,
Minimum Essential Coverage ,
Self-Insured Health Plans
The September Monthly Minute reports on the IRS’ new amendment extension deadline with respect to coronavirus-related distributions and qualified disaster distributions, a recent $131.8 million settlement stemming from...more
9/28/2022
/ Benefit Plan Sponsors ,
CARES Act ,
Coronavirus/COVID-19 ,
Filing Deadlines ,
Fraud ,
Healthcare ,
Individual Retirement Account (IRA) ,
Investment ,
Investors ,
IRS ,
Relief Measures ,
Retirement Plan ,
SECURE Act ,
Stocks ,
Tax Extensions ,
Tax Litigation
In the August Monthly Minute, we explore the IRS’ recent announcement delaying the deadline to amend retirement plans for SECURE Act and CARES Act changes....more
The June Monthly Minute provides updates on machine readable file posting rules, the IRS’ new plan examination pilot program, and the upcoming PCORI fee and filing requirements. ...more
COVID-19 Testing Denial Serves as Basis for ERISA Litigation
This month, a New Jersey district court allowed a provider’s ERISA claim for reimbursement against an insurer that refused to cover COVID-19 tests to continue....more
The April Monthly Minute addresses the newly extended HSA/telehealth rule and IRS proposed rules that reconsider family PTC eligibility and affordability.
Last month, the Consolidated Appropriations Act of 2022 was passed...more
In the March Monthly Minute, we review IRS proposed regulations implementing the SECURE Act, DOL guidance on cryptocurrency investments, and the extended National Emergency “Outbreak Period” guidance.
Crypto-Curious vs....more
3/31/2022
/ 401k ,
Biden Administration ,
Coronavirus/COVID-19 ,
Cryptocurrency ,
Defined Contribution Plans ,
Department of Labor (DOL) ,
Digital Assets ,
Employee Benefits ,
Fiduciary Duty ,
Investment Management ,
Investment Opportunities ,
IRS ,
Required Minimum Distributions ,
Retirement Plan