OBBBA provisions require cross-functional coordination among payroll, benefits and finance teams, and employers should coordinate such efforts now to ensure that payroll and HRIS systems are ready for the transition before...more
President Biden recently signed two new laws that significantly reduce the ACA compliance burden for employers by streamlining Form 1095 reporting and minimizing penalties for failure to file and distribute Form 1095s to...more
The future of the Department of Labor’s Fiduciary rule is in limbo following the Fifth Circuit’s decision striking it down “in toto.”
The future of the Fiduciary rule is uncertain, particularly in light of the Fifth...more
4/12/2018
/ Administrative Procedure Act ,
Best Interest Contract Exemptions ,
Broker-Dealer ,
Department of Labor (DOL) ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Fiduciary Duty ,
Fiduciary Rule ,
Investment Adviser ,
Retirement Plan ,
Securities and Exchange Commission (SEC)
Legislation enacted in recent months should result in fewer operational errors and expanded participant opportunities.
The Tax Cuts and Jobs Act extends the period a participant may make a tax-free loan rollover to an IRA...more
3/9/2018
/ 401k ,
Benefit Plan Sponsors ,
Bi-Partison Balanced Budget Act (BBA) ,
Employee Benefits ,
Hardship Distributions ,
IRA Rollovers ,
QMAC ,
QNEC ,
Retirement Plan ,
Tax Cuts and Jobs Act ,
Wildfires
On April 7, 2017, the Department of Labor (DOL) published a final rule delaying the applicability date of the “Fiduciary” rule and certain “Prohibited Transaction Exemption” rules (the Rules) for 60 days from April 10, 2017...more
5/3/2017
/ Best Interest Contract Exemptions ,
Conflicts of Interest ,
Department of Labor (DOL) ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Fiduciary Duty ,
Fiduciary Rule ,
First Amendment ,
Free Speech ,
Investment Adviser ,
Retirement Plan ,
Trump Administration
On March 2, 2017, the Department of Labor (DOL) proposed to delay the applicability date of the “Fiduciary” rule by 60 days. The DOL issued the proposal in response to the February 3, 2017, Presidential Memorandum...more
The Employee Retirement Income Security Act of 1974, as amended (ERISA), protects plan participant benefits and account balances by imposing high standards of care on the plan’s fiduciaries. Fiduciaries who do not follow...more
9/6/2016
/ Cybersecurity ,
Department of Health and Human Services (HHS) ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Employer Group Health Plans ,
Fiduciary Duty ,
Health Insurance Portability and Accountability Act (HIPAA) ,
HITECH Act ,
PHI ,
Retirement ,
Retirement Plan
The Departments of Labor, Treasury and Health and Human Services (the “Departments”) recently published final Affordable Care Act (“ACA”) regulations on wellness programs, effective in 2014. The regulations retain the...more