201605.20
0

New DOL Rules Expand Definitions of “Fiduciary” and “Advice”

Last month, the DOL published its long awaited/feared final regulations expanding the definition of “fiduciaries” who provide “advice” (as very broadly defined) relating to retirement plans, IRAs, Health Savings Accounts, Education Savings Accounts, and participants in those arrangements. In addition to imposing statutory duties and liability exposure on this expanded group of individuals and firms,…

201603.24
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Seminar on Employment Law Audits

Is your organization ready for an employment law audit by a federal or state agency?  Regardless of size or industry, all employers are at risk of being audited — but most are unprepared.  For example, in FY 2015, the Department of Labor found violations in 79% of agency-initiated wage and hour investigations. Failed employment law…

201504.14
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Expanded “Amnesty” Program for Retirement Plans

The IRS has just released a rather significant expansion to its “amnesty program” for some mistakes made in the administration of tax-qualified retirement plans.  (This is the IRS program known as the “Employee Plans Compliance Resolution System.”) Very helpful correction opportunities are now available concerning mistakes in the following (and other) areas: plan loans, required…

201502.20
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IRS Guidance on Health Premium Reimbursement/Payment Plans

As we have previously reported, and discussed at our Seminars, the IRS has issued a series of pronouncements concluding that the reimbursement by employers of employee-paid health premiums, or the direct payment by employers of premiums for individual health policies for employees, violates the Affordable Care Act (regardless of whether these reimbursement or direct payments…

201411.25
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Health Plan Opt-outs and ACA Affordability – URGENT MATTER FOR HEALTH PLANS WITH A JANUARY 1, 2015 EMPLOYER MANDATE EFFECTIVE DATE

On Friday, the regulators issued new regulations that have been interpreted to provide that amounts paid by employers to employees who opt-out of the employer’s health plan must be treated as additional employee contributions for purposes of the affordability component of the ACA’s employer mandate rules. This position is a radical departure from conventional notions…

201411.11
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Regulators’ Comments on High Claimant Opt-Out Features

In the latest installment of their largely unprecedented flurry of guidance under the Affordable Care Act, late last week the regulators published their thoughts on the practice — currently being contemplated (or implemented) by some employers — of providing opt-out bonuses to high claim health plan participants. In very general terms, these employers are approaching…

201411.11
0

Guidance on “Skinny Plans” Concept

Unfortunately, the federal government is scrambling around at the last minute to provide “guidance” for next year on a statute that was enacted in 2010.  Please excuse the third e-alert of the last week, but we feel compelled to alert you about yet another eleventh-hour “development.” Specifically, on November 4, the regulators issued Notice 2014-69,…