The American Rescue Plan Act of 2021 (“ARP”) includes a 100% COBRA temporary subsidy for certain eligible individuals (“Assistance Eligible Individuals”) who lost health care coverage due to an involuntary termination of...more
The IRS announced cost of living adjustments affecting dollar limitations for employer plans for tax year 2021. Most IRS limits impacting employer retirement plans have remained the same because the increase in the...more
Certain qualified retirement plan errors are now easier to fix under the new expanded IRS self-correction procedures. On April 19, 2019, the IRS released the revised Employee Plans Compliance Resolution System (“EPCRS”) under...more
Many 401(k) plans allow participants to borrow amounts from their vested 401(k) plan accounts and repay such amounts, typically through payroll deductions, back to their own accounts. Plan loans must comply with IRS rules...more
On November 24, 2017, the Department of Labor (“DOL”) Employee Benefits Security Administration (“EBSA”) formally delayed the applicability date of previously issued final regulations imposing new claims procedures to...more
On May 22, 2017, Secretary of Labor Jim Acosta announced that, after having been delayed 60 days, the Department of Labor’s (“DOL”) Conflict of Interest Rule (“Fiduciary Rule”) will largely apply on June 9, 2017. At that...more
On April 7, 2017, the IRS issued a memorandum relating to cash balance retirement plans. A cash balance plan is a defined benefit pension plan which looks like a defined contribution plan because participants have individual...more
Last summer, the Internal Revenue Service (IRS) announced that its periodic review of individually designed retirement plans to determine the plans’ qualified status will end effective January 31, 2017. In January 2016, the...more
What do all of these acronyms stand for and why do employers and human resource professionals care? These acronyms stand for statutory requirements which apply to employer-provided health plans and stiff penalties can apply...more
On August 29, 2013, IRS issued Revenue Ruling 2013-17 which clarified that for federal income tax purposes, the marital status of a same-sex couple is based on the state law or foreign law (e.g. Canada) where the marriage was...more
9/12/2013
/ COBRA ,
DOMA ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
IRS ,
Marriage ,
Same-Sex Marriage ,
SCOTUS ,
Tax Benefits ,
U.S. Treasury ,
US v Windsor