201707.17
0

Tax-Qualified and 403(b) Retirement Plans—Important Document Compliance Issues for Employers

Over the past several months, the IRS has made significant changes to the way that retirement plan sponsors assure document compliance. As we previously reported, effective January 1, 2017, the IRS ended its every five year determination letter program for individually designed tax-qualified retirement plans. On January 13, 2017, the IRS confirmed that it would…

201703.31
0

Expanding Plaintiffs’ Litigation – Risk Management For Employers; Upcoming Seminar

Building Defenses Against Plaintiffs’ Claims.  As we previously reported, the plaintiffs’ bar has discovered ERISA, and lawsuits — class action and individual — against employers alleging ERISA violations have become an epidemic. In previous e-Alerts and at our Seminars we have emphasized particularly protecting against the risks posed by lawsuits alleging ERISA fiduciary breaches concerning…

201703.20
0

May Seminar

As previously announced, we’ll be holding our next clients and friends seminar at the BWI Marriott on Thursday May 11, 2017, from 8 a.m. to noon. The following are some of the topics we’ll cover at the seminar.  (As always, we expect to add topics to reflect developments between now and May 11.) I.   Health…

201702.07
0

DOL Fiduciary Rule Update; May Seminar

DOL FIDUCIARY RULE UPDATE. On February 3, the President issued a Presidential Memorandum directing the Secretary of Labor to: “Examine the Fiduciary Duty Rule to determine whether it may adversely affect the ability of Americans to gain access to retirement information and financial advice. As part of this examination, you shall prepare an updated economic…

201612.22
0

New Law Permitting Health Reimbursement Plans in some Small Employer Situations

As we have previously reported, the regulators take the position that, since the effective date of the ACA, employer plans that reimburse employees for individual health policy premiums and/or for medical expenses (or that pay those premiums and/or expenses directly) are unlawful, unless those reimbursement/payment arrangements are “bundled” with an underlying health plan that meets…

201612.14
0

Latest Developments for Opt-Out Arrangements

As we have discussed in prior e-Alerts and at our seminars, over the last several years the IRS has taken a variety of sometimes inconsistent positions on the effect of employer health plan “opt-out” payments on the affordability test of the Affordable Care Act. The IRS’s central position was expressed with the following example: An…

201612.06
0

Late Breaking Developments

We want to call your attention to some recent developments. Effect of the Presidential Election on the April 10, 2017 DOL Fiduciary Rule. As we discussed in prior e-Alerts, earlier this year the DOL published a final regulation that, among other things, greatly expands the definition of “fiduciary” under ERISA and the Internal Revenue Code…

201611.23
0

Overtime Law Development

As we previously reported, the DOL recently effectively doubled (to $47,476) the minimum annual salary needed for an employee to qualify as exempt from the FLSA’s overtime requirements under the “white collar exemptions.” Yesterday, a federal judge stayed the implementation of those changes. Unfortunately, there have been suggestions in some quarters that this judicial stay…