New Guidance for 401(k) Plans on Missing Participants
On Tuesday, January 12, 2021, the U.S. Department of Labor (“DOL”) issued official guidance on locating missing participants in retirement plans, including 401(k) plans. The […]
Group Health Plans Required to Cover Cost of HIV-Preventive Drug, Truvada
Effective January 1, 2021, and with the exception of ACA-compliant Grandfathered Plans, most group health plans and insurance issuers must now cover the full cost […]
2021 Penalty Amounts for 401(k) Plans
On January 14, 2021, the U.S. Department of Labor (“DOL”) published its annual announcement of civil monetary penalties for various employee benefits-related violations under ERISA, […]
2021 Penalty Amounts for ERISA Health and Welfare Plans
On January 14, 2021, the U.S. Department of Labor (“DOL”) published its annual announcement of civil monetary penalties for various employee benefits-related violations under ERISA, […]
ICHRAs and the Shared Responsibility Payment: Final Regulations
The IRS outlined final rules regarding the shared responsibility payment (SRP) and other nondiscrimination rules applicable to health reimbursement arrangements (HRAs) and other account-based group […]
CAA #1 The Consolidated Appropriations Act with COVID-19 Relief: An Overview
Beginning in 2021, employers who sponsor group health plans (GHPs) must begin complying with several requirements of the Consolidated Appropriations Act (CAA) of 2021. The […]
IRS Guidance on Secure Act Auto-Enrollment and Safe Harbor Plan Changes
On December 9, 2020, the Internal Revenue Service (“IRS”) issued question-and-answer guidance (Notice 2020-86) regarding certain changes to safe harbor 401(k) plans and auto-enrollment arrangements […]
Two Cost-Sharing Changes Provide Flexibility for Grandfathered Plans
On December 15, 2021, the Departments of Labor, Health & Human Services, and Treasury (“Departments”) issued a final rule (“Rule”) expanding cost-sharing requirements for grandfathered […]
IRS Releases Final Regulations on Rollovers of 401(k) Qualified Plan Loan Offsets
On December 7, 2020, the Internal Revenue Service (“IRS”) issued its final regulations addressing rollovers of qualified retirement plan (particularly 401(k) plan) loan offset amounts. […]