On September 6, 2024, the U.S. Department of Labor (DOL) issued a press release announcing that it was publishing updated cybersecurity guidance in the form of Compliance Assistance Release No. 2024-01 for all plans governed by the Employee Retirement Income
Benefits Law Update
Members of the Employee Benefits & Executive Compensation Group provide timely updates and commentary on developments affecting employee benefit plans and executive compensation arrangements. The blog is edited by Eric Altholz and Suzanne Meeker, with guest posts from other members of the group.
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Latest from Benefits Law Update
Retirement Plan Overpayment Corrections Continue to Evolve
For over twenty years, the IRS has provided guidance on correcting overpayments from retirement plans through its correction program, the Employee Plans Compliance Resolution System, currently set forth in Revenue Procedure 2021-30 (“EPCRS”).[1] In 2022, new statutory provisions were…
Final Mental Health Parity Rule Spells Compliance Changes
IRS Provides Helpful Answers Regarding Long-Term Part-Time Employees in 403(b) Plans
In November 2023, the IRS issued proposed regulations addressing the SECURE 2.0 long-term part-time (LTPT) employee eligibility requirements applicable to 401(k) plans knowing that further guidance would be needed to explain how those requirements would apply to 403(b) plans—you can…
A Brief Guide to Qualified Disclaimers for Retirement Plan Administrators
Student Loans and Code Section 127 Educational Assistance Programs: A Reminder from the IRS, FAQs, and a Sample Plan Document
On August 28, the IRS issued IR-2024-227, reminding employers of the following key aspects of educational assistance programs under Internal Revenue Code Section 127:
- They can be used to help reimburse the costs of or pay for employees’ student
…
Prepare for Cooler Weather, Annual Enrollment, and 2025
IRS Issues Guidance Addressing Matching Contributions on Student Loan Payments
HHS Issues Model Attestation Required by Final HIPAA Regulations Supporting Reproductive Health Care Privacy
On April 26, 2024, the U.S. Department of Health and Human Services (HHS) and Office for Civil Rights (OCR) published Final Regulations under HIPAA’s Privacy Rule introducing greater protections for information related to reproductive health care. One aspect of the…