On Oct. 3, 2024, the Internal Revenue Service released important guidance on the obligations of 403(b) plan sponsors to their part-time employees. Under recently passed legislation that is effective Jan. 1, 2025, a long-term,...more
There were several significant legal developments relating to employee stock ownership plans (ESOPs) last year. This information memo will summarize a few of the most important developments. ...more
Group health plan sponsors that are providing the temporary COBRA premium subsidy required by the American Rescue Plan Act (ARPA) must provide advance notice to certain recipients that the COBRA subsidy will end. The notice...more
On April 7, 2021, the U.S. Department of Labor (DOL) released model notices that can be used by group health plan sponsors to notify laid off employees and other “assistance eligible individuals” about the COBRA premium...more
On April 2, 2021, the three federal Departments that regulate health plans and health insurance (Labor, Treasury, and Health and Human Services) published guidance on the recently enacted changes to the Mental Health Parity...more
The IRS recently announced that the costs of masks, hand sanitizers and other "personal protective equipment" (PPE) used for the primary purpose of preventing the spread of coronavirus are qualifying medical expenses under...more
The SECURE Act (Setting Every Community Up for Retirement Enhancement Act), signed into law on December 20, 2019, included several significant changes relating to qualified retirement plans. Our previous Information Memo...more
In light of the COVID-19 pandemic and the resulting economic uncertainty, 401(k) plan sponsors can expect to see a significant increase in employee requests to withdraw funds from their plan accounts....more