As 2017 comes to an end, we are pleased to present our traditional End of Year Plan Sponsor “To Do” Lists. This year, we are presenting our “To Do” Lists in four separate Employee Benefits Updates. This Part 1 will cover...more
10/18/2017
/ 21st Century Cures Act ,
AARP ,
Affordable Care Act ,
Breach Notification Rule ,
Cadillac Tax ,
Centers for Medicare & Medicaid Services (CMS) ,
Civil Rights Act ,
Cloud Service Providers (CSPs) ,
COBRA ,
Code Sections 4980H ,
Cost-of-Living Adjustment (COLA) ,
Cost-Sharing ,
Department of Health and Human Services (HHS) ,
Disability Benefits ,
Electronic Protected Health Information (ePHI) ,
Employee Assistance Programs ,
Employee Retirement Income Security Act (ERISA) ,
Employer Group Health Plans ,
Employment Discrimination ,
Equal Employment Opportunity Commission (EEOC) ,
Executive Orders ,
Federal Contractors ,
Federal Poverty Line ,
Filing Deadlines ,
Form 5500 ,
Form 720 ,
Full-Time Employees ,
Health Insurance Exchanges ,
Health Insurance Portability and Accountability Act (HIPAA) ,
Healthcare Reform ,
Information Letters ,
IRS ,
MHPAEA ,
Minimum Essential Coverage ,
Non-Grandfathered Health Plans ,
Open Enrollment ,
PCORI ,
Preventive Health Care ,
Qualified Small Employer Health Reimbursement Plan (QSEHRAs) ,
Religious Exemption ,
SBC ,
Section 1557 ,
Section 6055 ,
Section 6056 ,
Shared Responsibility Rule ,
Tax Credits ,
Tax Penalties ,
Telemedicine ,
Title VII ,
Trump Administration ,
Wellness Programs
In Announcement 2017-11, the IRS relaxed standards for hardship distributions and loans from qualified retirement plans for those affected by Hurricane Harvey. This relief applies to employees or former employees and their...more
The IRS has recently warned employers of another scam targeting employee information. The IRS has learned that scammers are posing as internal executives and are requesting Forms W-2 and Social Security Numbers from payroll...more
In a previous blog, we addressed an issue of Employee Plans News in which the IRS took the position that 401(k) plan administrators must maintain hardship distribution records and should not rely on electronic participant...more
In a previous blog, we discussed the IRS’ elimination of its five year staggered determination letter cycle for individually designed plans. The IRS recently provided guidance to help sponsors of individually designed plans...more
Generally, distributions from a qualified retirement plan that are eligible for rollover must be rolled over within 60 days of the date on which the distribution occurs. If a taxpayer did not complete the rollover within 60...more
As was previously announced in 2015, effective as of January 1, 2017, the Internal Revenue Service (“IRS”) is eliminating its five year staggered determination letter cycle for individually designed retirement plans. Plans in...more
The 2015 Form 5500 added some new optional compliance questions for the 2015 Forms 5500 and 5500-SF. In December 2015, the IRS issued frequently asked questions on the new compliance questions and strongly encouraged plan...more
The Treasury Department and the IRS recently issued final regulations (the “2015 Final Regulations”) relating to hybrid retirement plans, including cash balance pension plans.
The 2015 Final Regulations provide...more
As a reminder, the annual Form 5500 deadline is quickly approaching. Calendar year employee benefit plans that applied for an extension must file Forms 5500 by Thursday, October 15, 2015.
The Form 5500 Annual...more
In Announcement 2015-19, the IRS announced the elimination of the five year remedial amendment cycle for individually designed retirement plans effective as of January 1, 2017. This means that after January 1, 2017,...more
In its April 1, 2015 Employee Plans News, the IRS stated that defined contribution plan sponsors must maintain hardship distribution records and that plan sponsors cannot rely on electronic participant self-certification for...more
The IRS recently announced changes that make it significantly easier to correct employee deferral mistakes (also known as elective deferrals) in qualified retirement plans. The changes make modifications to the IRS’ Employee...more
On January 2, 2013, President Obama signed into law the American Taxpayer Relief Act of 2012 (the “Act”), more commonly known as the fiscal cliff legislation. Among other things, the Act amended the tax code to remove some of...more