The IRS issued guidance on the application of the COVID-19 Outbreak Period extensions to COBRA election and premium payment deadlines. The guidance was released as a coordinated effort with the Department of Labor (DOL) and the Department of Health and
Continue Reading IRS Guidance Clarifies COVID-19 Extensions to COBRA Election and Payment Deadlines
In Luense v. Konica Minolta Business Solutions U.S.A., Inc., 2021 WL 2103231 (D. N.J. 2021), a federal trial court dismissed certain allegations of a putative class action lawsuit brought by 401(k) plan participants, because they failed to prove that
Continue Reading Court Limits Defendants in Fiduciary Breach Lawsuit
An Interim Final Rule (IFR) published by the Department of Labor (DOL) took effect September 18, 2021. The IFR pertains to the information required by § 105 of the Employee Retirement Income Security Act of 1974, as amended (ERISA) to
Continue Reading New Lifetime Income Illustration Disclosures Now In Effect
The IRS uses “Issue Snapshots” to analyze tax issues and provide links to additional resources such as Tax Code sections and regulations, revenue rulings, and IRS webpages. The IRS does not use issue snapshots as a comprehensive discussion of all
Continue Reading IRS Issues Summary Regarding Hardship Distributions From 401(K) Plans
As the COBRA premium subsidy provided under the American Rescue Plan Act (ARPA) expired on September 30, 2021, the IRS issued a second set of FAQs in Notice 2021-46 (the “Notice”) to supplement prior guidance while providing specific answers
Continue Reading IRS Provides Second Round Of COBRA Subsidy Guidance
As summer passed into its final months, the Senate passed the Infrastructure Investment and Jobs Act (the “Act”). While the Act’s $1 trillion in allocations tackles a large number of issues, it contains specific provisions covering pension interest rates and
Continue Reading $1 Trillion Infrastructure Bill Would Affect Benefits And Pensions
For decades, many Hollywood actors and actresses have battled the industry to assert their rights and defend themselves from exploitation. In December of 2020, actor Ed Asner and nine other members of the Screen Actors Guild (SAG) and the American
Continue Reading Actress Files Class Action Against SAG-AFTRA For Undisclosed Benefit Cuts
Two trade groups recently offered support to Cornell University after the academic institution settled a class-action lawsuit brought by participants in Cornell’s retirement program. The U.S. Chamber of Commerce and the American Benefits Council filed an amici curiae (friend
Continue Reading U.S. Business Groups Support Cornell In ERISA Case
By Tim Kennedy and Anne Hall (October 18, 2021)
Recent developments suggest that the U.S. Department of Labor is taking a renewed and more aggressive approach to enforcing the Mental Health Parity and Addiction Equity Act, or MHPAEA. First, the
Continue Reading Mental Health Parity Act: A Compliance Wake-Up Call
As 2020 ended, the No Surprises Act (NSA) was signed into law as part of the Consolidated Appropriations Act of 2021 to remedy problems associated with surprise medical billing. The NSA, armed with $1.4 trillion in spending, goes into effect
Continue Reading Interim Final Rule Issued For 2021 No Surprises Act
