On May 10, 2021, the IRS issued Notice 2021-26, which addresses the taxation of dependent care benefits, provided through a Code Section 129 dependent care assistance program (“DCAP”), available in taxable years ending in...more
On April 14, 2021, the U.S. Department of Labor’s (DOL’s) Employee Benefits Security Administration (EBSA) finally issued first-ever guidance for plan sponsors, plan fiduciaries, record keepers and plan participants on best...more
4/20/2021
/ 401k ,
Benefit Plan Sponsors ,
Cybersecurity ,
Data Security ,
Department of Labor (DOL) ,
EBSA ,
Employee Retirement Income Security Act (ERISA) ,
Fiduciary ,
GAO ,
New Guidance ,
Personally Identifiable Information ,
Plan Participants ,
Popular ,
Retirement Plan ,
Risk Assessment
On April 7, 2021, the U.S. Department of Labor (DOL) issued welcome guidance - including eagerly-anticipated model notices - to help employers and their COBRA administrators implement the temporary six-month (April 1 to...more
Just think of the many dollars you spend on face masks, hand sanitizers and sanitizing wipes to help you and your family prevent the spread of the coronavirus disease (COVID-19). It all adds up very quickly and can make a...more
4/9/2021
/ Corporate Counsel ,
Employer Group Health Plans ,
Flexible Savings Accounts (FSAs) ,
HRA ,
Income Taxes ,
IRS ,
Medical Reimbursement ,
Personal Protective Equipment ,
Plan Documents ,
Reimbursements ,
Tax Deductions
On March 11, 2021, President Biden signed into law the American Rescue Plan Act of 2021 (“ARPA”), a $1.9 trillion COVID-19 economic stimulus bill which provides eligible qualified beneficiaries with up to six months of free...more
On March 11, 2021, President Biden signed into law the American Rescue Plan Act of 2021 (“ARPA”), a $1.9 trillion COVID-19 economic stimulus bill.
ARPA contains provisions affecting employee benefits and executive...more
3/19/2021
/ American Rescue Plan Act of 2021 ,
Benefit Plan Sponsors ,
Biden Administration ,
COBRA ,
Coronavirus/COVID-19 ,
Defined Benefit Plans ,
Employee Benefits ,
Employer Group Health Plans ,
Health Insurance ,
Multiemployer Plan ,
Notice Requirements ,
PBGC ,
Premium Subsidies ,
Relief Measures ,
Tax Credits
The IRS has extended the last day of the initial remedial amendment period for 403(b) retirement plans from March 31, 2020, to June 30, 2020. Plan sponsors now have until June 30, 2020, to update their individually designed...more
Today, the House of Representatives passed by voice vote and the President signed into law the Coronavirus Aid, Relief, and Economic Security Act (the CARES Act, [H.R. 748]) a $2 trillion relief package - the largest stimulus...more
On Friday, March 27, 2020, the House of Representatives passed by voice vote, and the President signed into law, the Coronavirus Aid, Relief, and Economic Security Act (the CARES Act, [H.R. 748]) a $2 trillion relief package...more
The March 31, 2020 deadline to correct form defects in individually-designed 403(b) plan documents seemed a tiny speck on the distant horizon when the IRS announced it in early 2017. But now, March 31, 2020 looms large and...more
The Further Consolidated Appropriations Act, 2020 (the “Act”), enacted on December 20, 2019, significantly changed many retirement and other employee benefit plan rules. The Setting Every Community Up for Retirement...more
2/5/2020
/ 401k ,
Affordable Care Act ,
Annuities ,
Defined Benefit Plans ,
Employee Benefits ,
Individual Retirement Account (IRA) ,
PBGC ,
Qualified Disaster Relief Payments ,
Required Minimum Distributions ,
Retirement ,
Retirement Plan ,
Safe Harbors ,
SECURE Act ,
Tax Cuts and Jobs Act ,
Tax Planning ,
UBTI
If you are a 401(k) plan sponsor, advisor, or other service provider, you may want to check your "grocery bill"—your 401(k) "bill" that is. Recently, a participant in T. Mobile USA, Inc.’s 401(k) plan filed suit against...more