News & Analysis as of

Compensation & Benefits CARES Act

Stoel Rives - Health Law Insider®

Telehealth Safe Harbor Extended

High deductible health plan (“HDHP”) sponsors take note: the Continuing Appropriations Act, 2023 (“CAA23”) temporarily extends the flexibility for HDHPs to provide pre-deductible coverage of telehealth services without...more

Stinson - Benefits Notes Blog

Time is Running out for IRS ‘Pre-Approved’ 401(k)/Defined Contribution Plan Sponsors to Meet the July 31, 2022 ‘Cycle 3’ Deadline

Employers sponsoring 401(k) or other types of defined contribution plans “pre-approved” by the Internal Revenue Service (IRS) should be aware that the restatement deadline is quickly approaching. The IRS requires pre-approved...more

Stinson - Benefits Notes Blog

Temporary Extension of CARES Act Telehealth/HSA Relief Available

On March 15, 2022, the Consolidated Appropriations Act of 2022 (“2022 CAA”) was signed into law. Among other things, the 2022 CAA temporarily restores the telehealth relief provided under the CARES Act. The CARES Act...more

Verrill

Employee Benefits & Executive Compensation 2021 Summer Client Advisory

Verrill on

This Client Advisory summarizes developments in the law governing employee benefit plans prompted by the COVID-19 pandemic. We explain what these developments mean for plan sponsors and highlight the need to adopt plan...more

Schwabe, Williamson & Wyatt PC

Ten Things to Know About the PPP Loan Forgiveness Applications - Update #7

Below are ten important things to know about the Paycheck Protection Program (“PPP”) Loan Forgiveness ‎Applications and the detailed instructions for the applications posted on June 16, 2020, and October 8, 2020, ‎as well as...more

Schwabe, Williamson & Wyatt PC

Ten Things to Know About the PPP Loan Forgiveness Applications - Update #6

Below are the ten important things to know about the Paycheck Protection Program (“PPP”) Loan Forgiveness Applications and the detailed instructions for the applications posted on June 16, 2020, and October 8, 2020. There are...more

Morgan Lewis - ML Benefits

Before You Ring in the New Year – Defined Benefit Plan Delayed Contributions Due by January 1, 2021

To alleviate plan sponsor financial burdens during the height of the coronavirus (COVID-19) pandemic, Section 3608 of the CARES Act delayed the due date for required minimum contributions for defined benefit pension plans...more

White & Case LLP

Replacing Pay with Equity to Preserve Cash in a COVID Economy

White & Case LLP on

As pandemic effects linger, companies intent on avoiding layoffs are looking at compensating workers with equity in lieu of cash as part of their pay. In August 2020, the United Kingdom began winding down its Coronavirus...more

Greenbaum, Rowe, Smith & Davis LLP

Paycheck Protection Program Update: SBA Issues New FAQs on PPP Loan Forgiveness

In its continuing effort to provide guidance on the Paycheck Protection Program, the Small Business Administration (SBA) released new Frequently Asked Questions (FAQs) specifically targeted to the Loan Forgiveness process on...more

Faegre Drinker Biddle & Reath LLP

IRS Expands And Clarifies Relief Provided For CARES Act Retirement Plan Distributions

On June 19, 2020, the Internal Revenue Service (IRS) issued Notice 2020-50 (the Notice) to provide guidance on coronavirus-related distributions, increased plan loan limits, and deferment of plan loan repayments allowed...more

Burr & Forman

Five Common Questions for Qualified Plans and IRAs under CARES Act

Burr & Forman on

1. Do I have to take my required minimum distributions (RMD) in 2020? No. Required minimum distribution rules do not apply for 2020 for IRAs, Roth IRAs, qualified defined contribution plans, 403(b) plans and...more

Parker Poe Adams & Bernstein LLP

The Pandemic's Impact on Compensation and Benefits

Disruption in business operations by the pandemic has increased the need for employers to focus on compensation and employee benefits. Developing a comprehensive business response will involve benefits plans and more broadly...more

Foley & Lardner LLP

Furloughs, Workforce Reductions, and Facility Closures Due to Coronavirus: Important Defined Benefit Plan Reporting Obligations

Foley & Lardner LLP on

Employers face unique legal and financial challenges in connection with the COVID-19 pandemic. One such challenge includes the impact of a potential furlough, workforce reduction, or facility closures on benefit plan...more

Goodwin

Top 10 Compensation and Benefits Issues for Employers in Light of the COVID-19 Pandemic

Goodwin on

As the COVID-19 pandemic continues to unfold, many employers are faced with questions about the impact of economic changes and workforce reductions on their compensation and benefits arrangements. This alert is intended to...more

K&L Gates LLP

COVID-19: COVID-19 Considerations: Compensation Topics

K&L Gates LLP on

In the wake of the COVID-19 pandemic and the resulting economic uncertainty, many employers are searching for ways to be financially prepared in the weeks and months to come while simultaneously balancing the well-being of...more

Proskauer - Tax Talks

The CARES Act and Compensation – What Employers Need to Know

Proskauer - Tax Talks on

On March 27, 2020, the President signed into law the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) (H.R. 748). In this blog post we (1) lay out an initial action plan for employers considering...more

Morgan Lewis

CARES Act Brings Compensation, Benefits, and Payroll Tax Changes

Morgan Lewis on

With broad bipartisan support, the Coronavirus Aid, Relief, and Economic Security Act (CARES Act or Act), signed into law by the president on March 27, provides a $2 trillion economic stimulus and contains numerous and...more

Kelley Drye & Warren LLP

CARES Act Impact on Employee Benefits and Compensation

On March 27, 2020, the President signed into law the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”), the third phase of emergency relief passed by Congress in response to the coronavirus pandemic. The...more

Foley Hoag LLP

COVID-19 Considerations for Certain Compensation and Employee Benefit Arrangements

Foley Hoag LLP on

As the economic repercussion of the COVID-19 pandemic is becoming increasingly severe, employers should consider its potential impact on the design and administration of various compensation and employee benefit arrangements....more

Holland & Hart - Health Law Blog

CMS Waives Stark Law Limits to Hospital-Physician Arrangements During COVID-19 Pandemic

On March 30, 2020, CMS opened the way for hospitals to provide additional compensation and/or support to referring physicians during the COVID-19 pandemic by waiving the enforcement penalties under the federal Ethics in...more

Payne & Fears

Coronavirus Aid, Relief, And Economic Security Act (The Cares Act)-Aid For Business

Payne & Fears on

Titles I and IV of the CARES Act provide financial relief to businesses during the COVID-19 pandemic, incentivizing companies to retain employees and maintain compensation levels....more

Akin Gump Strauss Hauer & Feld LLP

CARES Act Summary – Employees, Unemployment Insurance, and Assistance to State and Local Governments

Assistance to State, Local and Tribal Governments - The CARES Act establishes a $150 billion “Coronavirus Relief Fund” for state, local and tribal governments to use to cover any costs related to COVID-19 that had not...more

Kilpatrick

Businesses Receiving Discretionary Loan Relief are Subject to Executive Compensation Restrictions

Kilpatrick on

Please note: The below information may require updating, including additional clarification, as the COVID-19 pandemic continues to develop. Please monitor our main COVID-19 Task Force page and/or your email for updates....more

Troutman Pepper

Executive Compensation Limits In Cares Act Raise Questions

Troutman Pepper on

The sweeping federal stimulus bill known as the ‘‘Coronavirus Aid, Relief, and Economic Security Act’’ or ‘‘CARES Act’’ includes a provision intended to prevent federal loans or loan guarantees from being used to enhance...more

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