On March 18, President Trump signed the Families First Coronavirus Response Act (FFCRA) into law. The FFCRA is effective April 1, 2020. The Department of Labor also issued guidance and detailed FAQs, addressing various...more
Employee Benefit Provisions in The Cares Act -
To confront the COVID-19 pandemic, Congress passed the CORNAVIRUS AID, RELIEF, AND ECONOMIC SECURITY ACT (CARES ACT) on March 27, 2020. It expands access to retirement funds...more
In the afternoon on March 18, the Senate passed the House’s Families First Coronavirus Response Act (FFCRA) and President Trump signed the bill into law. Below are answers to some frequently asked questions about provisions...more
On November 2, 2017, House Republicans released their highly anticipated tax reform proposal formally named the Tax Cuts and Jobs Act (the "Act"). The Act must be approved by both the House and the Senate and signed by the...more
11/8/2017
/ Adoption ,
Compensation & Benefits ,
Defined Contribution Plans ,
Dependent Care Assistance Program (DCAP) ,
Distribution Rules ,
Employee Benefits ,
Excise Tax ,
Executive Compensation ,
Hardship Distributions ,
Individual Retirement Account (IRA) ,
IRA Rollovers ,
Medical Expenses ,
Pensions ,
Repeal ,
Roth IRA ,
Tax Credits ,
Tax Deductions ,
Tax Exempt Entities ,
Tax Reform ,
Trump Administration
The last ten years have seen a proliferation of high-profile class actions alleging breach of ERISA fiduciary duties of prudence and loyalty against plan fiduciaries. The claims are usually based upon alleged excessive...more
8/7/2017
/ 401k ,
Breach of Duty ,
Class Action ,
Daubert Standards ,
Defense Strategies ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Fiduciary Duty ,
FRCP 23 ,
Investment Management ,
Litigation Strategies ,
Popular ,
Retirement Plan
The last ten years have seen a proliferation of high-profile class actions alleging breach of ERISA fiduciary duties of prudence and loyalty against plan fiduciaries. The claims are usually based upon alleged excessive...more
We promised to keep you up to date on the GOP majority’s promise to repeal and replace the Affordable Care Act (the “ACA”). After reaching agreement on several amendments to the original House bill (described in our previous...more
We promised to keep you up to date on the GOP majority's promise to repeal and replace the Affordable Care Act (the "ACA"). After reaching agreement on several amendments to the original House bill (described in our previous...more
5/11/2017
/ Affordable Care Act ,
American Health Care Act (AHCA) ,
Cadillac Tax ,
CBO Report ,
Employer Mandates ,
Essential Health Benefits ,
Flexible Spending Accounts ,
Health Insurance ,
Health Insurance Exchanges ,
Health Savings Accounts ,
Medicaid ,
Medicare ,
Premium Subsidies ,
Proposed Legislation ,
Repeal ,
Trump Administration
The DOL's fiduciary rule has been delayed. This delay, and the confusion swirling around if and when the DOL fiduciary rule will become applicable, is giving plan sponsors a window of time to renegotiate their contractual...more
On March 6th, House Republicans introduced a bill called the American Health Care Act to repeal and replace the Affordable Care Act. The House Ways and Means Committee will hold a hearing on the revenue and tax provisions of...more
3/8/2017
/ Affordable Care Act ,
Compensation & Benefits ,
Employee Benefits ,
Employer Mandates ,
Health Insurance ,
Health Savings Accounts ,
Healthcare Reform ,
IRS ,
Proposed Legislation ,
Repeal ,
Trump Administration
We are pleased to bring you some good news for 401(k) plans from the IRS.
The IRS just issued a proposed regulation that allows safe harbor contributions to a 401(k) plan, or employer contributions used to correct a...more
On September 29, 2016, the Internal Revenue Service (IRS) issued Revenue Procedure 2016-51 (Rev. Proc. 2016-51), which updates the Employee Plans Compliance Resolution System (EPCRS) and changes how sanctions will be...more
On September 29, 2016, California Governor Brown approved significant amendments to the 2012 California Secure Choice Retirement Savings Trust Act ("Secure Choice"). Secure Choice is intended to provide Roth IRAs and...more
Given the subject matter involved, this Alert is very technical and specialized. If your company offers both an active pension plan and a 401(k) or profit sharing plan and performs the general test to satisfy the...more
Safe harbor 401(k) plans are attractive because they are not required to perform annual nondiscrimination testing. In the past, one of the biggest reasons not to offer a safe harbor 401k) plan was the prohibition on changing...more
Worker classification is an area of major concern for domestic and international employers of all sizes. Our Labor and Employment Group recently alerted you to significant regulatory action by the US Department of Labor...more
Effective January 1, 2017, the IRS has announced that, due to limited resources, it is eliminating the existing 5-year determination letter application staggered filing cycles for individually designed plans. Off-cycle...more
The volatility and unpredictability of an employer's obligations under a defined benefit pension plan can have a significant impact on its bottom line. This is especially true of plans with liabilities for pension benefits...more
The IRS has recently issued three new, less expensive safe harbor procedures for correcting missed elective deferrals. These new procedures require either no employer corrective contribution to make up the missed elective...more
Under the Affordable Care Act, employers subject to the Fair Labor Standards Act must provide a “Notice of Coverage Options” to each employee. The purpose of this Notice is to inform employees that they may obtain health...more
On Wednesday, June 26, 2013, the United States Supreme Court (the "Court") issued two significant decisions relating to same-sex marriage, both of which will have far-reaching effects on the design and tax treatment of...more
7/1/2013
/ COBRA ,
DOMA ,
Employee Benefits ,
Equal Protection ,
Health Insurance ,
Hollingsworth v Perry ,
IRS ,
Proposition 8 ,
Same-Sex Marriage ,
SCOTUS ,
Standing ,
US v Windsor