If the U.S. Department of Labor’s Notice of Proposed Information Collection Request, issued on April 15, 2024, becomes final, fiduciary retirement plan committees may be asked to evaluate the important question of whether the...more
On July 25, 2023, the tri-agencies of the Departments of Treasury, Labor, and Health and Human Services (the Departments) issued a compendium of guidance designed to facilitate compliance with the Nonquantitative Treatment...more
President Biden announced that the COVID-19 Public Health Emergency (PHE) and the National Emergency declared by President Trump in 2020 will end on May 11, 2023. The PHE relief issued in response to the pandemic affected...more
The SECURE 2.0 Act of 2022 (SECURE 2.0) contains several provisions that allow the federal government to have its cake (more tax dollars) and eat it too (more retirement savings, easing Social Security challenges). With...more
On December 29, 2022, President Biden signed the Consolidated Appropriations Act, 2023, a massive omnibus spending bill that will keep the government funded through the end of its September 30, 2023, fiscal year. Included in...more
As we enter the fourth quarter of 2022, sponsors and administrators of employee benefit plans have a lot to juggle. From open enrollment and required notices to plan document deadlines, it is a busy time of year. Yet, there...more
9/28/2022
/ Centers for Medicare & Medicaid Services (CMS) ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Employer Group Health Plans ,
HDHP ,
Health Insurance ,
Health Plan Sponsors ,
HSA ,
IRS ,
Prescription Drug Coverage ,
SECURE Act
In furtherance of the Biden Administration’s January 28, 2021, Executive Order 14009 and April 5, 2022, Executive Order 14070 to protect and strengthen the ACA, the Treasury Department and IRS published a proposed rule on...more
As the year draws to a close, it is helpful for employers to pause to evaluate employee benefit plan amendment deadlines and other crucial fourth quarter considerations, including:...more
10/1/2021
/ 401k ,
Billing ,
Cafeteria Plans ,
CARES Act ,
Carryover Basis ,
Employee Benefits ,
Employer Group Health Plans ,
Flexible Spending Accounts ,
Health Insurance ,
MHPAEA ,
Remote Working ,
Retirement Plan ,
SECURE Act ,
W-4
In much-anticipated guidance, the Internal Revenue Service has offered its insight on the implementation of the COBRA temporary premium subsidy provisions of the American Rescue Plan Act of 2021 (ARPA) in Notice 2021-31...more
As the COVID-19 vaccine has become readily available, and many employers contemplate employees returning to the office to work, both employers and employees have accelerated demands for new and permanent remote work location...more
The Ninth Circuit Court of Appeals recently addressed several issues of first impression in Bafford v. Northrop Grumman (9th Cir. April 15, 2021), a lawsuit involving retirees who received vastly overstated pension benefit...more
4/26/2021
/ Corporate Counsel ,
Defined Benefit Plans ,
Department of Labor (DOL) ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Employer Liability Issues ,
ERISA Litigation ,
Fiduciary Duty ,
Fiduciary-Standards ,
Pensions ,
Preemption ,
Professional Negligence ,
Retirement Plan
The American Rescue Plan Act of 2021 (ARPA) is the latest federal COVID-19 relief bill, which the President signed into law March 11, 2021. ARPA includes new COBRA continuation coverage election, notice, and subsidy...more
3/12/2021
/ Affordable Care Act ,
American Rescue Plan Act of 2021 ,
Biden Administration ,
COBRA ,
Consolidated Appropriations Act (CAA) ,
Coronavirus/COVID-19 ,
Defined Benefit Plans ,
Dependent Care ,
Employee Benefits ,
Employer Group Health Plans ,
Flexible Savings Accounts (FSAs) ,
Full-Time Employees ,
Pensions ,
Popular ,
Relief Measures ,
Tax Credits
Like no other event in history, the COVID-19 pandemic shined a light on the value employee benefits bring to employment. What once may have been viewed as a “fringe” benefit is now central to attracting and retaining...more
The Consolidated Appropriations Act, 2021 (Act) provides certain COVID-19-related relief, including temporary additional flexibility regarding flexible spending accounts (FSAs). Employers have several practical considerations...more
The Consolidated Appropriations Act, 2021 generally provides the annual funding for the federal government and also contains several important rules giving further COVID-19 relief. The comprehensive relief package funds...more
Since March 27, 2020 when the CARES Act was signed into law, many questions have mounted related to implementing the retirement plan provisions. Now, with roughly 3 months under our belts since the issuance of the Act and...more
The IRS issued proposed regulations under Section 4960 of the Internal Revenue Code of 1986, as amended (the “Code”), which was added as part of the Tax Cuts and Jobs Act. The proposed regulations published in the Federal...more
On May 4, 2020, the Internal Revenue Service released much-anticipated guidance related to implementing the retirement plan aspects of the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) enacted on March 27,...more
The Internal Revenue Service has broadened the filing and payment relief provided under prior guidance. IRS Notice 2020-23 postpones, among other relief, the due date for employee benefit plans required to make the Form 5500...more
On March 27, 2020, the President signed into law the Coronavirus Aid, Relief, and Economic Security (“CARES”) Act. The Act largely stabilizes fragile industries, provides loans and tax credits to businesses tied to their...more
As a result of the ongoing COVID-19 pandemic, we are observing all sorts of never-before-seen changes in the fully-insured group health plan space. Many insurers are liberally waiving their normal rules to accommodate the...more
With the combination of our nation’s response to COVID-19 and the resultant economic downturn, employers of all sizes face the moral and financial dilemma of evaluating employee headcounts while businesses are grappling with...more
3/23/2020
/ 401k ,
Affordable Care Act ,
COBRA ,
Coronavirus/COVID-19 ,
Employee Benefits ,
Employer Liability Issues ,
Furloughs ,
Hiring & Firing ,
Layoffs ,
Popular ,
Severance Pay
Imagine something as simple as a COBRA notice that complies with law, but is not identical to the Department of Labor’s (DOL) model notice, leading to six- or seven-figure class action litigation settlements?
Companies in...more
Can you imagine something as simple as a COBRA Notice missing a few technical requirements resulting in an employer needing to pay a 6 or 7-digit damages award? That is happening in Florida. Employers in and out of Florida...more
If your Company leadership is looking for an innovative employee benefit – something outside the standard employee benefit package of retirement, health, and welfare benefits, a Company-sponsored charitable foundation might...more