With a multitude of questions surrounding implementation and administration, late on a summer Friday afternoon, the IRS issued Notice 2023-62 (Notice), providing Plan Sponsors with a transition period until 2026 to implement...more
8/28/2023
/ 401k ,
403(b) Plans ,
Benefit Plan Sponsors ,
Employee Benefits ,
FICA Taxes ,
FUTA ,
IRS ,
Multiemployer Plan ,
Retirement Plan ,
Roth Conversions ,
Roth IRA ,
SECURE Act
Additional Tools for Employers to Encourage Retirement Savings-
Matching Contributions on Student Debt Payments-
One of the most eagerly anticipated provisions of the “SECURE 2.0” legislation is the ability for...more
1/30/2023
/ 401k ,
Education Expenses ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Employer Contributions ,
Individual Retirement Account (IRA) ,
Internal Revenue Code (IRC) ,
IRS ,
Private Letter Rulings ,
Retirement Plan ,
SECURE Act
In our most recent summary of IRS Notice 2021-31, we noted the Internal Revenue Service provided much-needed clarity to looming compliance challenges as employers, insurers, and others race to implement the applicable COBRA...more
In much-anticipated guidance, the Internal Revenue Service has offered its insight on the implementation of the COBRA temporary premium subsidy provisions of the American Rescue Plan Act of 2021 (ARPA) in Notice 2021-31...more
We recently provided an update on the looming end date for COBRA and other deadline extensions and the uncertainty that continues to add to the administrative burdens without more clarity from the DOL and IRS. Message...more
3/1/2021
/ COBRA ,
Coronavirus/COVID-19 ,
Deadlines ,
Department of Labor (DOL) ,
Disaster Aid ,
Employee Retirement Income Security Act (ERISA) ,
Flexible Spending Accounts ,
Health Insurance Portability and Accountability Act (HIPAA) ,
IRS ,
New Guidance ,
Third-Party ,
Time Extensions
In May of 2020, the Department of Labor (DOL) and Internal Revenue Service (IRS) released joint-agency guidance that extended several important deadlines for employees, including COBRA election and payment deadlines, HIPAA...more
On August 31, 2018, President Trump issued an Executive Order (the “Order”) calling on the Department of Labor (“DOL”) and the Internal Revenue Service (“IRS”) to consider issuing regulations and guidance directed at...more