Start spreading the news…student loan 401(k) match revenue ruling in the works
As you may recall, Private Letter Ruling 201833012 (the “PLR”), concerning the IRS’ approval of Abbott Laboratories’ plan to implement 401(k) matching contributions on student loan repayments, was...
View ArticleI am not throwing away my shot: Retiree coverage as an alternative to COBRA
The COBRA requirements with respect to termination of active employee group health coverage and the coincident availability of retiree medical coverage are complex and not intuitive. In short, if...
View ArticleWhat’s love got to do with it? Keep your loved ones close with a proper...
As we head into open enrollment season, retirement plan sponsors should be sure to keep their finger on proper beneficiary designations – especially those who sponsor plans using automatic enrollment....
View ArticleIt’s HIP(AA) to be square… making sure you are HIPAA compliant
The Health Insurance Portability and Accountability Act (“HIPAA”) was created for one specific reason – evolution of technology. Today, health care providers are using online clinical applications and...
View ArticleTake it to the limit one more time…IRS announces cost-of-living adjustments...
The Internal Revenue Code imposes dollar limitations on various compensation, benefit and contribution levels under qualified retirement plans. Today, the Internal Revenue Service announced the 2020...
View ArticleFriends in Low Places . . . IRS focusing on late contributions too
“I was the last one you’d thought you’d see there…” We tend to think of untimely remittances to retirement plans as primarily an ERISA issue, and certainly, the cause of many DOL audits. Lately,...
View ArticleWalk this way…to avoid the pitfalls of ERISA
Companies implement bonus plans to meet a variety of business objectives: retention, specific company business goals, change of control, and others. In designing bonus plans, there are a variety of...
View ArticleTime keeps on slippin’, slippin’, slippin’… into the future with an extended...
The Internal Revenue Service has extended the due date for providing the 2019 Form 1095-C (applicable to large employers as explained below) and the Form 1095-B (generally applicable to insurance...
View ArticleSitting on a dock of the bay, watching my post-termination exercise period,...
We are often asked by our private company clients about making changes to outstanding stock options. In some cases, changes to the number of shares subject to an option are needed, or to the vesting...
View Article[Don’t] Tell Me Lies, Tell Me Sweet Little Lies … or the SEC will charge you...
Many private companies assume that if valid federal and state exemptions from registration are available for private company securities that there is little risk of problems with the Securities...
View ArticleA Little Less Conversation, a Little More Action: Major Retirement Plan...
After being on the verge of enactment last spring but failing to pass, the SECURE Act will become law after all. Congress included the Setting Every Community Up for Retirement Enhancement Act of 2019...
View ArticleWe interrupt this program – is a multiple employer plan in your future?
We interrupt our usual Benefits Dial programming – to take a closer look at developments affecting multiple employer plans (MEPs) as part of our series of posts on the recently enacted benefit plan...
View ArticleE is for ERISA, That’s Good Enough for Me: Supreme Court remands IBM v....
The United States Supreme Court issued a per curiam opinion on Tuesday in Retirement Plans Committee of IBM v Jander, punting back to the court of appeals the determination of whether plan fiduciaries...
View ArticleThe Long and Winding Road… of 401(k) plan compensation definitions
A plan’s definition of “compensation” tends to be one of the trickier aspects of 401(k) administration. Having been asked multiple times in the past 12-months whether deferrals to a nonqualified...
View ArticleTake a bow for the new revolution, and don’t let the same tax mistakes fool...
As we enjoy the Silicon Slopes Tech Summit 2020, it has been great to catch up with executives, investors, and entrepreneurs working to build the next technology ideas into successful companies. It is...
View ArticleI Want to Know, Have You Ever Seen…your plan documents?
Owners and employees of smaller organizations often find themselves stretched in many directions. With all of the demands on one’s time associated with operating a business, it is not uncommon to see...
View ArticleEvery bond you break, every step you take, I’ll be watching you . . . Plan...
Plan sponsors are typically aware that operational errors threaten a retirement plan’s qualified status under the Internal Revenue Code if they remain uncorrected. What may come as a surprise,...
View ArticleYou’ve Got Another PCORI Fee Coming!: Congress revives the PCORI fee and...
In the wee hours of December 2019, Congress revived the PCORI fee and filing obligations of employer sponsors of self-insured group health plans. In accordance with the requirements of the Affordable...
View ArticleWe Interrupt this Program – What in the SECURE Act Do Retirement Plan...
After being on the verge of enactment last spring but failing to pass, the SECURE Act is now law. The Setting Every Community Up for Retirement Enhancement Act of 2019 – the SECURE Act – was enacted...
View ArticleCOVID-19: Developments in Employee Benefits
Health Plan Coverage of COVID-19. Colorado has become the latest state to instruct insured health plans to cover COVID-19 testing and benefits (such as office visits) at no cost to the member...
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