The Internal Revenue Service recently issued its List of Required Modifications (LRMs) for pre-approved plan documents that are commonly used by employers that offer and/or contribute to Internal Revenue Code section 403(b)...more
For several years, the IRS showed leniency to large employers (50 or more employees) who failed to file Forms 1095-C and 1094-C accurately or by the annual deadline. The IRS has signaled these forms will be reviewed with...more
COVID Update, Employee Benefits Update, Pending Federal Law Restricting Mandatory Aribitration and NDAs, Update on NYS COVID Paid Leave...more
2/15/2022
/ Arbitration Agreements ,
Benefit Plan Sponsors ,
Coronavirus/COVID-19 ,
Employee Benefits ,
Federal Arbitration Act ,
Federal Labor Laws ,
Mandatory Arbitration ,
Non-Disclosure Agreement ,
Paid Sick Leave ,
Pending Legislation ,
Quarantine ,
Sexual Assault ,
Sexual Harassment ,
State Labor Laws ,
Wage and Hour
As the open enrollment period for many employers draws near, the U.S. Departments of Labor, Health and Human Services, and Treasury issued joint agency guidance in the form of frequently asked questions (FAQs) addressing,...more
Group health plan sponsors that are providing the temporary COBRA premium subsidy required by the American Rescue Plan Act (ARPA) must provide advance notice to certain recipients that the COBRA subsidy will end. The notice...more
On April 7, 2021, the U.S. Department of Labor (DOL) released model notices that can be used by group health plan sponsors to notify laid off employees and other “assistance eligible individuals” about the COBRA premium...more
During the COVID-19 crisis, many employers have had to make difficult employment decisions, including large scale furloughs and layoffs. One employee benefits issue that impacts employers who have reduced their workforces is...more
The Internal Revenue Service (IRS) recently issued guidance in the form of questions and answers (Q&As) regarding the retirement provisions of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) set forth in...more
Following the recent Executive Order issued by Governor Cuomo that all non-essential employers in New York must reduce their workforces by 100% by Sunday at 8:00 p.m., many New York employers are facing difficult personnel...more
The swift impact of the Coronavirus Disease 2019 (COVID-19) in New York and across the country has forced employers to evaluate the impact of the virus on their workforces. This information memo addresses some of the more...more
The Setting Every Community Up for Retirement Enhancement Act of 2019 (Act) was signed into law on December 20, 2019. The Act represents the first comprehensive legislation impacting retirement plans in over a decade and...more
2/25/2020
/ 401k ,
403(b) Plans ,
Benefit Plan Sponsors ,
Compensation & Benefits ,
Employee Benefits ,
Individual Retirement Account (IRA) ,
Required Minimum Distributions ,
Retirement ,
Retirement Plan ,
SECURE Act ,
Tax Planning
The Internal Revenue Service recently announced the dollar limitations for pension plans and other items beginning January 1, 2018. Some of the limits are listed below....more
Section 1557 of the Patient Protection and Affordable Care Act of 2010 ("ACA") prohibits discrimination on the basis of race, color, national origin, sex, age or disability in certain health programs or activities. The U.S....more
Employers were treated to a number of Affordable Care Act (ACA) developments just in time for the holidays and to ring in the New Year. Many of the developments are welcome news for employers, including an extension of the...more
The Patient Protection and Affordable Care Act (ACA) created new fees for covered health plans, including transitional reinsurance program fees (TRP Fees) that are designed to stabilize premium increases that are expected to...more
There has been a tremendous amount of focus on participant-assessed fees in 401(k) and 403(b) plans over the last couple of years. This has come about, in part, because of lawsuits and the Department of Labor (DOL)...more
6/25/2014
/ 401k ,
403(b) Plans ,
Defined Benefit Plans ,
Defined Contribution Plans ,
Department of Labor (DOL) ,
Disclosure Requirements ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Employer Liability Issues ,
Fee Disclosure ,
Plan Administrators