Each week while Congress is in session, our Policy team delivers a key update to highlight a topical benefits, health, or retirement news item from the Hill, such as a newly introduced bill, a summary of a committee hearing,...more
Each week while Congress is in session, our Policy team delivers a key update to highlight a topical benefits, health, or retirement news item from the Hill, such as a newly introduced bill, a summary of a committee hearing,...more
Each week while Congress is in session, our Policy team delivers a key update to highlight a topical benefits, health, or retirement news item from the Hill, such as a newly introduced bill, a summary of a committee hearing,...more
Each week while Congress is in session, our Policy team delivers a key update to highlight a topical benefits, health, or retirement news item from the Hill, such as a newly introduced bill, a summary of a committee hearing,...more
Each week while Congress is in session, our Policy team delivers a key update to highlight a topical benefits, health, or retirement news item from the Hill, such as a newly introduced bill, a summary of a committee hearing,...more
Each week while Congress is in session, our Policy team delivers a key update to highlight a topical benefits, health, or retirement news item from the Hill, such as a newly introduced bill, a summary of a committee hearing,...more
Each week while Congress is in session, our Policy team delivers a key update to highlight a topical benefits, health, or retirement news item from the Hill, such as a newly introduced bill, a summary of a committee hearing,...more
On April 25, 2024, the U.S. Department of Labor (“DOL”) published its much-anticipated final regulation on the definition of “fiduciary” under section 3(21)(a)(ii) of the Employee Retirement Income Security Act of 1974, as...more
On April 23, 2024, the U.S. Department of Labor (“DOL” or “Department”) issued a final regulatory package amending its fiduciary investment advice regulation and revising numerous existing prohibited transaction exemptions...more
On April 25, 2024, the U.S. Department of Labor (“DOL”) published its much-anticipated final regulation on the definition of “fiduciary” under section 3(21)(a)(ii) of the Employee Retirement Income Security Act of 1974, as...more
On August 9, 2023, the Internal Revenue Service (“IRS”) issued a new notice (IR-2023-144, the “Notice”) cautioning employers “to be alert to a range of compliance issues that can be associated with Employee Stock Ownership...more
On April 25, 2023 the Department of Labor (“DOL”) published Field Assistance Bulletin 2023-01 (the “FAB”), which provides guidance to multiemployer pension plans that receive Special Financial Assistance (“SFA”) regarding the...more
On March 9, 2023, President Biden released his budget for Fiscal Year 2024. Similar to proposals in its last budget, the Administration’s new budget proposes a number of major tax increases, including the following:...more
4/4/2023
/ Biden Administration ,
Compensation & Benefits ,
Employee Benefits ,
Federal Budget ,
Future Tax Treatment ,
Health Insurance ,
Infrastructure ,
Retirement ,
Retirement Plan ,
Tax Liability ,
Tax Reform
The landmark legislation aimed at modernizing the retirement system, SECURE 2.0, has finally arrived, and with its 90 provisions, there is a lot to unpack.
On Wednesday, January 4, 2023 at 2:00 – 3:00 p.m. ET, Groom...more
12/30/2022
/ 401k ,
403(b) Plans ,
Benefit Plan Sponsors ,
Deadlines ,
Employee Benefits ,
Individual Retirement Account (IRA) ,
Retirement ,
Retirement Funds ,
Retirement Plan ,
Retirement Plan Providers ,
SECURE Act ,
Webinars
Yesterday, the Senate passed the Consolidated Appropriations Act of 2023 (the “CAA”) to fund the government through September 30, 2023. Division T of the legislation is the SECURE 2.0 Act of 2022 (“SECURE 2.0”), which builds...more
New Section 4501 of the Internal Revenue Code imposes a 1% excise tax on certain corporate stock repurchases or “corporate buybacks.” The new tax is imposed on the fair market value (“FMV”) of any stock repurchased by a...more
In June, the Senate committees with jurisdiction over retirement approved their versions of retirement reform legislation. The Senate bills are the Enhancing American Retirement Now Act (unnumbered, the “EARN Act”), which was...more
On July 8, 2022 the Pension Benefit Guaranty Corporation (“PBGC”) published its final regulation implementing the Special Financial Assistance (“SFA”) program for multiemployer pension plans under the American Rescue Plan Act...more
On March 29, the House overwhelmingly passed H.R. 2954, the Securing a Strong Retirement Act of 2021 (“SSRA”), by a vote of 414-5. This alert contains Groom’s summary of the legislation as passed by the chamber....more
On July 26, 2021, the IRS released Notice 2021-46 (the “Notice”), which provides new guidance on the 100% COBRA premium subsidies (the “Subsidies”) and the related tax credit under the American Rescue Plan Act of 2021 (March...more
Groom has prepared a comparison here of the provisions in two key retirement bills being considered by the 117th Congress: the Securing a Strong Retirement Act of 2021 (H.R. 2954, “SECURE 2.0”) and the Retirement Security &...more
The IRS recently updated its Nonqualified Deferred Compensation Audit Techniques Guide. The updated June 2021 Guide (the “2021 Guide”) replaces the previous version published in June 2015 (the “2015 Guide”), and provides a...more
Since the American Rescue Plan Act (“ARPA”) was enacted in March 2021, employers and insurers have been diligently familiarizing themselves with the rules for administering the temporary 100% COBRA premium subsidy established...more
On May 18, 2021, the IRS released its highly anticipated guidance on the 100% COBRA premium subsidies (the “Subsidy”) and the related tax credit under the American Rescue Plan Act of 2021 (March 11, 2021) (“ARPA”) in Notice...more
Securing a Strong Retirement Act of 2021 as marked up by the House Ways and Means Committee on May 5, 2021....more