The 100-percent premium subsidy for eligible COBRA health care enrollees, enacted earlier this year as part of the American Rescue Plan Act (ARPA), period is ending September 30, 2021....more
On May 18, 2021, the IRS issued the long- awaited guidance on the COBRA subsidy and premium assistance credit available under the American Rescue Plan Act of 2021 through eighty-six questions and answers....more
5/21/2021
/ American Rescue Plan Act of 2021 ,
Biden Administration ,
COBRA ,
Coronavirus/COVID-19 ,
Employee Benefits ,
Health and Welfare Plans ,
Health Insurance ,
Infectious Diseases ,
IRS ,
New Legislation ,
Premium Subsidies ,
Relief Measures ,
Tax Credits
The Consolidated Appropriations Act, 2021 (“Act”), signed by President Trump on December 27, 2020, contains several provisions affecting employee benefits....more
IRS guidance, Notice 2020-29 and 2020-33, issued on May 12, 2020 addresses unanticipated changes in health and dependent care expenses because of the 2019 Novel Coronavirus (COVID-19) pandemic by providing for increased...more
In the past few months, we have seen significant changes to the laws governing employee benefits, from the new hardship withdrawal regulations for 401(k) participants, to the SECURE Act, to the new individual coverage health...more
1/17/2020
/ 401k ,
403(b) Plans ,
Compensation & Benefits ,
Employee Benefits ,
Hardship Distributions ,
HRA ,
Individual Retirement Account (IRA) ,
New Legislation ,
Pensions ,
Regulatory Reform ,
Required Minimum Distributions ,
Retirement ,
Retirement Plan ,
Safe Harbors ,
SECURE Act ,
Tax Credits ,
Tax Planning ,
Tax Rates
Not all 401(K) and other qualified plans allow hardship withdrawals, but if your plan does allow hardship withdrawals, make sure it is compliant with the new rules finalized in September. All of the changes are optional for...more
10/17/2019
/ 401k ,
Employee Benefits ,
FEMA ,
Hardship Distributions ,
IRS ,
Natural Disasters ,
Plan Administrators ,
QMAC ,
QNEC ,
Qualified Disaster Relief Payments ,
Retirement Plan
On February 9, 2018, the Bipartisan Budget Act (the “Act”) was signed into law. The Act directed the IRS to revise regulations governing hardship withdrawal provisions in qualified plans. ...more
12/28/2018
/ 401k ,
Bipartisan Budget Act ,
Employee Benefits ,
Hardship Distributions ,
IRS ,
New Regulations ,
QMAC ,
QNEC ,
Retirement Plan ,
Tax Penalties ,
Tax Planning ,
Taxation