Payroll Threats and Protecting Personal Information -
In case you have not been checking the FBI warnings (I realize those are unusual words for a benefits person), you and your employees should know of one of such...more
12/6/2018
/ Department of Health and Human Services (HHS) ,
Department of Labor (DOL) ,
Email ,
FBI ,
Healthcare ,
Human Resources Professionals ,
IRS ,
Payroll Records ,
Personally Identifiable Information ,
Phishing Scams ,
Tax Returns
Managing your plan’s claims procedures to avoid successful challenges requires careful attention to all of the requirements in the regulations and in the applicable plan’s or policy’s terms and continual review in light of...more
When POTUS signed the most recent executive order related to health care reform, it was only a small incremental step to direct the agencies to loosen some rules on health reform that will eventually impact the coverage...more
The Internal Revenue Service updated its mortality tables under final regulations which are generally applicable on January 1, 2018 and did not delay the implementation of the mortality tables because the update was mandated...more
While many cyber threats have special names, e.g., ransomware, malware, cryptolocker, advanced persistent threats or GRIZZLY STEPPE (a malicious cyber attack that occurred late in 2016), your retirement plan’s data may be...more
Fee Changes and Disclosures Post Conflict of Interest Regulations Initial Partial Effective Date -
The effects of the U.S. Department of Labor’s (“DoL”) conflict of interest or fiduciary regulation and related prohibited...more
7/20/2017
/ Annuities ,
Conflicts of Interest ,
De-Risking ,
Department of Labor (DOL) ,
Employee Retirement Income Security Act (ERISA) ,
Fiduciary Rule ,
Investment Adviser ,
IRS ,
Lump Sum Payments ,
Medicare ,
Prohibited Transactions ,
Public Employers ,
Retirement Plan
Late last week the Senate released its version of a health reform bill (the “Better Care Reconciliation Act of 2017” or the “Senate bill”) to fix the Patient Protection and Affordable Care Act (the “PPACA”). The Senate Bill...more
Traditional investment advisers, as well as broker-dealers, insurance brokers, banks, and employers, are abuzz with questions and concerns relating to the final regulation issued by the Department of Labor (DOL) on April 8,...more
6/6/2016
/ Best Interest Standard ,
Conflicts of Interest ,
Department of Labor (DOL) ,
Employee Retirement Income Security Act (ERISA) ,
Fiduciary Duty ,
Final Rules ,
Financial Industry Regulatory Authority (FINRA) ,
Individual Retirement Account (IRA) ,
Investment Adviser ,
Retirement Plan ,
Securities and Exchange Commission (SEC)
Final Roth Rollover Rules Retain Simplification of Prior Notice and Ease Rollovers for Participants with Both Roth and Pre-Tax Amounts in their 401(k) Plan Account -
Prior to the proposed rules on Roth 401(k)...more
The U. S. Department of Labor’s Conflict of Interest regulatory package (the “COI Rules”) reaches far more than traditional trustees named in retirement plan documents. Many financial advisors, tax advisors, investment...more
5/17/2016
/ Best Interest Contract Exemptions ,
Best Interest Standard ,
Conflicts of Interest ,
Department of Labor (DOL) ,
Disclosure Requirements ,
Employee Retirement Income Security Act (ERISA) ,
Fiduciary Duty ,
Final Rules ,
Financial Institutions ,
Health Savings Accounts ,
Individual Retirement Account (IRA) ,
Investment Adviser ,
IRS ,
PTEs ,
Recordkeeping Requirements ,
Retirement Plan ,
Retirement Plan Providers
As you may know, there have been several new items added to the 2015 Form 5500 series. Specifically, these are: -
..Preparer Information at the bottom of page 1 of Form 5500 and Form 5500-SF
..Schedule H, Lines...more
On April 8, 2016, the Department of Labor (DOL) released the much anticipated final regulation to broaden the scope of fiduciary status under the Employee Retirement Income Security Act of 1974 (ERISA) and the Internal...more
4/21/2016
/ Benefit Plan Sponsors ,
Best Interest Contract Exemptions ,
Best Interest Standard ,
Conflicts of Interest ,
Department of Labor (DOL) ,
Employee Retirement Income Security Act (ERISA) ,
Fiduciary Duty ,
Final Rules ,
Individual Retirement Account (IRA) ,
Investment Adviser ,
Participant-Directed Plans ,
PTEs ,
Retirement Plan ,
Service Agreements
So much energy has been spent on what the final regulations on the employer shared responsibility tax and the related final reporting regulations (the “ESRR”), that some of the most significant considerations have been missed...more
Early this week the Internal Revenue Service and Department of Treasury (the “IRS”) issued the first piece of the Affordable Care Act (“ACA”) penalty imposition jigsaw puzzle. It then followed up with 46 FAQs on the same...more
Preventive Care Expansion for Calendar Plan Year 2015 for Non-Grandfathered or Non-Exempt Plans -
The preventive care coverage requirements were updated in September 2013 to include a requirement that there must be...more
Following Hawaii’s enactment of legislation recognizing same-sex marriage as of and after December 2, 2013 a number of additional pieces of guidance were also issued. Internal Revenue Service’s Frequently Asked Questions...more
12/26/2013
/ Affordable Care Act ,
Anti-Kickback Statute ,
Cafeteria Plans ,
Employee Retirement Income Security Act (ERISA) ,
Employer Group Health Plans ,
FICA Taxes ,
Flexible Spending Accounts ,
FSA ,
HSA ,
IRS ,
Medicare Taxes ,
PBGC ,
Retirement Plan ,
Roth Conversions ,
Same-Sex Marriage ,
Year-End Planning ,
Year-End Tax Planning
Yesterday Hawaii adopted the Hawaii Marriage Equity Act of 2013 recognizing same sex marriages as of December 2, 2013 and permitting persons in civil unions in Hawaii to apply to be married without first requiring dissolution...more
The final Mental Health Parity and Addiction Equity Act regulations (“MHPAEA Regs”) were released late last week and apply to the first plan year beginning on or after July 1, 2014 (for calendar year plans on January 1,...more