As is tradition, we are happy to present our End of Year Plan Sponsor “To Do” Lists. We are publishing our “To Do” Lists in four separate Employee Benefits Updates. Part 1 covered year-end health and welfare plan issues. This Part 2 describes annual cost-of-living increases and includes a summary table of penalties, percentages, and premiums under the employer shared responsibility requirements of Code Section 4980H. Parts 3 and 4 will cover qualified plan and executive compensation issues. Each Employee Benefits Update provides a “To Do” List of items to consider taking action on before the end of 2023 or in early 2024.
As always, we appreciate your relationship with Snell & Wilmer and hope that these “To Do” Lists can help focus your efforts over the next few months.
Part 2 - Annual Cost of Living Adjustments “To Do” List
* Pending Updated Federal Poverty Level