Tax-Free Employee Educational Assistance Programs Extended by Fiscal Cliff...
At the end of last year, we alerted you that the beneficial tax treatment of educational assistance programs under Section 127 of the Internal Revenue Code (the Code) pursuant to which an employer...
View ArticleFiscal Cliff Legislation - Employee Benefits and Compensation Provisions of...
Earlier this month we notified you that that under the American Taxpayer Relief Act of 2012—i.e., the “fiscal cliff legislation”—Congress extended the ability of employers to pay or reimburse an...
View ArticleNew Employer Shared Responsibility Penalty Guidance: Timely Employer Action...
In This Alert: - A. What Is The Employer Shared Responsibility Penalty? - What Is The “Failure To Offer Coverage Penalty”? - How Is The “Failure To Offer Coverage Penalty” Calculated? - What Is The...
View ArticleIRS Relief for 403(b) Retirement Plans
Recognizing that the requirement to have a detailed written plan document for a 403(b) retirement plan was a new and arduous task for many non-profit entities who sponsored such plans, the IRS has now...
View ArticleAction Items for Employers: Notice to Employees of Health Insurance...
As we have alerted you in the past, health care reform enacted in 2010 under the Patient Protection and Affordable Care Act (referred to herein as “PPACA”) has imposed new obligations on employers and...
View ArticleSupreme Court Ruling on Same-Sex Marriage: Impact on Employee Benefits
The United States Supreme Court’s landmark decision on June 26, 2013 in United States v. Windsor that struck down Section 3 of the Defense of Marriage Act (DOMA) as unconstitutional has far reaching...
View ArticleReminder: Ongoing Participant Fee Disclosure Obligations for Retirement Plan...
In 2011 and 2012, we alerted you to new requirements on plan administrators of participant-directed defined contribution retirement plans (e.g., 401(k) plans, 403(b) plans, profit sharing plans and...
View ArticleIRS/Treasury Provides One-Year Delay For Certain Employer Health Coverage...
On July 9, 2013, the U.S. Treasury Department and Internal Revenue Service (“IRS”) issued formal guidance (IRS Notice 2013-45; herein, the “Notice”)1 that provides for a one year delay until 2015 with...
View ArticleUpdate: One-Time Extension for Furnishing Annual Fee Disclosures to Participants
Earlier this month we reminded you that plan administrators of participant-directed ERISA defined contribution retirement plans (e.g., 401(k) plans, 403(b) plans, profit sharing plans and money...
View ArticleImportant IRS Guidance on Same-Sex Marriage
Earlier this summer we sent you an Alert concerning the U.S. Supreme Court’s historic ruling (United States v. Windsor) regarding same-sex marriage. This decision declared, as unconstitutional, Section...
View ArticleFederal Guidance on HRAs, Health FSAs and Other Employer Funding Arrangements...
On September 13, 2013, the Internal Revenue Service, U.S. Department of Labor and U.S. Department of Health and Human Services, collectively, issued guidance (the "Health Funding Guidance") on the...
View ArticleNew Carryover Option for Health Flexible Spending Arrangements
Recent guidance from the IRS modifies the long-standing “use or lose it” rule under a health flexible spending arrangement (“Health FSA”) to permit such arrangements to offer participants the...
View ArticleFinal Employer "Play or Pay" Mandate Guidance: Employer Action Needed
The federal health care reform law enacted in 2010, known as the Affordable Care Act, added a provision to the Internal Revenue Code (“Code”) (Code Section 4980H) that, beginning on January 1, 2015,...
View ArticleNew IRS Guidance Regarding Same-Sex Spouses: Employer Action Needed
On June 26, 2013, the U.S. Supreme Court, in the landmark case, United States v. Windsor, found the provisions of that portion of the “Defense of Marriage Act” (“DOMA”) which provided that only...
View ArticleSupreme Court Rejects “Presumption of Prudence” in ESOP Cases
On June 25, 2014, the Supreme Court issued a decision in Fifth Third Bancorp v. Dudenhoeffer regarding the availability of relief against fiduciaries of an employee stock ownership plan (“ESOP”) for...
View ArticleNew Developments and Impending Deadlines for Employer Group Health Plans
As the federal government agencies continue to push forward with implementation and administration of health care reform (i.e., the Patient Protection and Affordable Care Act), there are two recent...
View ArticleReminder: Amendments needed to reflect $2,500 limit on Health FSA...
As mentioned in a prior Alert, beginning in 2013 employees’ salary reduction contributions to a health flexible spending account (health FSA) may not exceed $2,500 per plan year. This limit is to be...
View ArticleLimited Relief for Certain Employer Health Plan Premium Payments or...
Under so-called “employer payment plans” (“EPPs”), an employer pays or reimburses an employee for substantiated premium costs under individual health plan insurance coverage (i.e., nonemployer...
View ArticleNew Year, New Required Transit Perk for NYC Employees
New York City’s Affordable Transit Act (Local Law 53) (the “Act”) will take effect on January 1, 2016. The Act requires employers in New York City with 20 or more full-time employees to provide pre-tax...
View ArticleSome Welcome Relief and Clarification on Affordable Care Act for Employers
As the federal agencies continue to issue more guidance on the application of various provisions of the Affordable Care Act (the “ACA”) to employer-sponsored health coverage, there are some recent...
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