News & Analysis as of

Compensation & Benefits Relief Measures

Pullman & Comley - Labor, Employment and...

December 31, 2022, is 125 Plan Amendment Deadline for COVID-19 Special Rules

Most employers allow employees covered by the employer-sponsored group health and welfare plans to pay their share of the cost through pre-tax payroll deductions.  In order to do this the employer must maintain a written...more

Littler

Puerto Rico Treasury Department Takes Action in Response to Hurricane Fiona

Littler on

On September 17, 2022, Puerto Rico Governor Hon. Pedro Pierluisi issued Executive Order No. OE-2022-045, declaring a state of emergency due to the passing of Hurricane Fiona through the Island. Likewise, on September 21,...more

Proskauer - Employee Benefits & Executive...

No Presence? No Problem: Temporary Relief for Witnessing Spousal Consent Further Extended Through Year-End

Perhaps channeling the old adage of “if it ain’t broke, don’t fix it,” the IRS recently released Notice 2022-27 extending through December 31, 2022 its temporary relief from the requirement that spousal consent for plan...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

Proskauer - Employee Benefits & Executive...

Congress Reopens Door For HSA With No-Deductible Telehealth, But With a Hole

Effective April 1, 2022, high-deductible health plans can once again offer first-dollar coverage for telehealth and other remote services without making participants ineligible for health savings account (“HSA”)...more

Littler

Puerto Rico: Pandemic Assistance Packages and their Effect on Christmas Bonus Exemption for Private Employers

Littler on

On November 16, 2020, the Puerto Rico Department of Labor and Human Resources (“PR DOL”) issued Circular Letter No. 2020-05, discussing considerations for private sector employers when requesting an exemption from paying the...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

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

McDermott Will & Emery

Covid-19 – Compensation for Loss of Earnings due to Closure of Daycare Centers and Schools in Germany

“SOCIAL CARE ACT” AND THE “ACT ON PEOPLE’S PROTECTION FOR EPIDEMIC SITUATIONS OF NATIONWIDE IMPORTANCE” In response to the ongoing coronavirus (COVID-19) crisis, the laws on people’s protection for epidemic situations of...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

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

Snell & Wilmer

Salary Deferrals in the Time of COVID-19

Snell & Wilmer on

As the saying goes, “drastic times call for drastic measures” and, from an economic standpoint, these are drastic times. To fight the battle to stay in business many employers are considering a wide range of alternatives,...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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