Until recently, employer matching contributions under qualified plans were required to be conditioned solely upon employee contributions made to the plan. However, one of the many changes enacted by the Consolidated...more
Five years ago, the Setting Every Community Up for Retirement Enhancement Act of 2019 (the “SECURE Act”) made several significant changes to certain distributions required pursuant to Internal Revenue Code (“Code”) Section...more
Pension-Linked Emergency Savings Accounts (“PLESAs”) are a special retirement plan feature created under SECURE ACT 2.0. PLESAs were first permitted to be made available to participants as of January 1, 2024. PLESAs, which...more
4/8/2024
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SECURE Act
Today marks the end of the COVID-19 public health emergency that first began on March 13, 2020. The end of the public health emergency has a wide range of implications for employer sponsored benefit plans. This alert...more
On September 26, 2022, the Internal Revenue Service issued Notice 2022-45, extending the deadline to amend eligible retirement plans (including nongovernmental qualified plans and 403(b) plans and individual retirement...more
On June 24, 2022, the Supreme Court of the United States (the “Court”) issued its opinion in Dobbs v. Jackson Women’s Health Organization, overturning the long-standing precedent of Roe v. Wade. In its 6-3 decision, the Court...more
The Setting Every Community Up For Retirement Enhancement Act of 2019 (the “SECURE Act”) made sweeping changes to retirement plan rules. Section 203 of the SECURE Act requires that plan administrators provide participants in...more
The American Rescue Plan Act of 2021 (“ARPA”) made COBRA premium assistance available to certain assistance eligible individuals during the period from April 1, 2021 to September 30, 2021. ARPA also included new notice...more
On May 18, 2021, the Internal Revenue Service (“IRS”) published Notice 2021-31 (the “IRS Notice”) containing detailed guidance relating to premium assistance for COBRA benefits under the American Rescue Plan Act of 2021...more
The American Rescue Plan Act (“ARPA”) became law in March of this year. One of the many relief provisions included in ARPA is a temporary subsidy of COBRA continuation premiums for certain individuals, summarized in our...more
On March 26, 2021, the Internal Revenue Service (“IRS”) published Announcement 2021-7, which notifies taxpayers that certain amounts paid for personal protective equipment (such as masks, hand sanitizer, and sanitizing wipes)...more
On March 11, 2021, President Biden signed into law the American Rescue Plan Act of 2021 (“ARPA”) which is another coronavirus stimulus package aimed at speeding up the United States’ recovery from the economic and health...more
On February 26, 2021, the DOL issued guidance regarding the impact of that statutory limitation on the previously announced deadline extensions, in EBSA Disaster Relief Notice 2021-01.
Disaster Relief Notice 2021-01, in...more
On February 18, 2021, the IRS issued Notice 2021-15, which provides guidance with regard to a number of provisions of the temporary changes to the rules related to the operation of health and dependent care flexible spending...more
On December 27, 2020, the latest of several COVID-19 relief packages became law, as part of the Consolidated Appropriations Act, 2021 (the “New Law”). One of the most notable benefits-related provisions in the New Law...more
On December 9, 2020, the Internal Revenue Service (“IRS”) issued Notice 2020-86 which provides guidance relating to certain changes to the safe harbor rules that apply to 401(k) plans made by the Setting Every Community Up...more
As part of our series of continuing updates on different aspects of The Setting Every Community Up For Retirement Enhancement Act of 2019 (the “SECURE Act”) and related legislation that may impact (or provide opportunities...more
The Setting Every Community Up For Retirement Enhancement Act of 2019 (the “SECURE Act”), made sweeping changes to retirement plan rules. As part of our ongoing efforts to summarize key provisions of the SECURE Act that may...more
Signed into law on December 20, 2019 as part of the Further Consolidated Appropriations Act, 2020, The Setting Every Community Up For Retirement Enhancement Act of 2019 (the “SECURE Act”), made sweeping changes to retirement...more
The Setting Every Community Up For Retirement Enhancement Act of 2019 (the “SECURE Act”), made sweeping changes to retirement plan rules. As described in our prior alert, certain provisions took effect immediately and were...more
COVID-19 has made traditional notarization, where the notary is in the same physical location as the signatory, a potentially hazardous and often undesirable requirement. Many states have reacted to this by permitting remote...more
The Internal Revenue Service (“IRS”) recently issued Notice 2020-29 and Notice 2020-33 which allow employers to provide various new types of relief to employees participating in Section 125 cafeteria plans (including flexible...more
On April 28, 2020, the Employee Benefits Security Administration, the Department of Labor, the Internal Revenue Service, and the Department of the Treasury (the “Agencies”) signed a joint notification of relief, which was...more
Over the past few weeks, the Internal Revenue Service (“IRS”) has provided relief to taxpayers impacted by the COVID-19 pandemic, by extending the deadline for payment and filing of individual income tax returns from April...more
Effective January 1, 2021, the majority of workers in New York will receive paid sick leave. On April 2, 2020, as part of New York’s budget approval process, the New York legislature and Governor Cuomo enacted a permanent...more