On April 10, 2023, President Biden signed legislation to end the COVID-19 national emergency effective immediately, including ending the requirement to extend COBRA deadlines due to the COVID-19 pandemic. Plan administrators are now on the clock to move back to… Read more
On Friday, June 19, 2020, the Internal Revenue Service released Notice 2020-50 clarifying and expanding provisions of the CARES Act that are designed to help retirement plan participants affected by COVID-19. The CARES Act provides enhanced access to plan distributions… Read more
The U.S. Department of Labor (DOL) released final regulations on May 21, 2020 that will allow employers to post retirement plan disclosures online or deliver them to employees by email, as a default. According to DOL’s Fact Sheet, the regulations… Read more
On May 12, 2020, the IRS issued optional relief for participants in cafeteria plans, health Flexible Spending Account (FSA) plans, and Dependent Care Assistance FSA plans. Less than two weeks ago, the IRS and the Department of Labor also issued… Read more
On April 28, 2020, the Departments of Labor and Treasury, the ESBA, and the IRS (the Agencies) issued final rules extending certain timeframes under the Employee Retirement Income Security Act (ERISA) and the Internal Revenue Code (Code) for group health… Read more
During times of economic strain, many companies will be faced with a decision to reduce or defer payments of employee benefit costs. Many companies around the country have applied for an SBA Paycheck Protection Program (PPP) loan to obtain needed… Read more
The Department of Labor issued temporary regulations describing the requirements for group health plan coverage of employees who take leave under the Emergency Paid Sick Leave Act (EPSLA) or Expanded Family and Medical Leave Act (EFMLA). These acts are separate… Read more
The COVID-19 pandemic has many employers making tough choices including reductions in force, reducing hours, and reducing compensation for employees. Employment decisions, in turn, affect employee benefit plans and policies. Employers need to review their employee benefit plans and policies,… Read more
The COVID-19 outbreak has caused economic disruptions, furloughs, and job losses. Business downturns as a result of the pandemic may cause employers to look at reducing or eliminating employer contributions to the company’s 401(k) plan. Employer contributions to a 401(k)… Read more
On March 18, 2020, Congress passed and President Trump signed H.R. 6201, known as the Families First Coronavirus Response Act (the Act), to provide support and relief in response to the COVID-19 pandemic. This Alert focuses on tax credits for employers… Read more
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