DOL Proposes Revised Prohibited Transaction Exemption
On June 29, 2020, the U. S. Department of Labor (“DOL”) issued a proposed prohibited transaction exemption (“PTE”) – along with a related fact sheet […]
Temporary Suspension of 401(k) Plan Safe Harbor Contributions Due to COVID-19
On June 29, 2020, the Internal Revenue Service (“IRS”) issued Notice 2020-52 that generally permits employers who sponsor safe harbor 401(k) plans to temporarily reduce […]
Required Contribution Percentage Adjustment
The IRS announced (in Rev. Proc. 2020-36) the 2021 indexing adjustment to the Affordable Care Act’s (ACA’s) required contribution percentage. Applicable Large Employers (ALEs) subject […]
New IRS Guidance Expands Eligibility for 401(k) Plan COVID-19 Related Distributions and Loans
On June 19, 2020, the Internal Revenue Service (“IRS”) issued Notice 2020-50, along with a related news release, that provides official guidance on “coronavirus-related distributions” […]
SCOTUS Expands Exemption for Contraceptive Coverage
On July 8th, 2020, the Supreme Court of the United States (SCOTUS) upheld expanded exemptions to the Affordable Care Act’s (ACA) contraceptive coverage mandate (Mandate). […]
MLR Reporting and Rebates Deadline Extended due to COVID-19
The Centers for Medicare and Medicaid Services (CMS) have extended the deadline for insurers to report Medical Loss Ratio (MLR) annual reports and rebates from […]
IRS Issues Rollover Relief For RMDs Waived Under CARES Act
On June 23, 2020, the Internal Revenue Service (“IRS”) issued Notice 2020-51 along with a related news release that permits 401(k) plan participants who took […]
FAQs Part 43: Additional Health Plan Guidance Re: COVID-19 Regulations
On June 23, 2020, the Departments of Labor, HHS, and Treasury (Departments) published additional guidance on how the Families First Coronavirus Response Act (the FFCRA) […]