The IRS, in Revenue Procedure 2022-24, has announced increased minimums and limits related to Health Savings Account (HSAs) for the 2023 calendar year.  The increases are higher than those in recent years.  Here is what employers and employees need…

Recent guidance from the U.S. Department of Labor and other developments in the public and private sectors signal that the use of cryptocurrency is starting to gain a substantial foothold in employment and compensation. For employers of all sizes and…

The U.S. Department of Labor (DOL), Employee Benefits Security Administration, (EBSA),  on March 10, 2022 released Compliance Assistance Release No. 2022-01, 401(k) Plan Investments in Cryptocurrencies.

The DOL indicates that it has become aware of firms marketing investments in…

There is no doubt that the ongoing pandemic has significantly changed the workplace. An increasing number of employees are working remotely, and there has been a high level of turnover in connection with the “Great Resignation”. We also have…

A unanimous U.S. Supreme Court (8-0, Justice Barrett recused) overturned a decision by the U.S. Court of Appeals for the Seventh Circuit which had dismissed a case brought by plan participants involving the fiduciary obligations of an ERISA plan sponsor…

In 2022, sponsors and administrators of 401(k) plans should be aware of a newly effective lifetime income disclosure statement, as well as written plan amendments that must be adopted by calendar year plans by the end of 2022.

Enacted in…

The “Great Resignation” reached a peak in November 2021 as the United States Bureau of Labor Statistics (BLS) reported that a record-breaking 4.5 million workers voluntarily resigned from their employment. This represented an increase of almost 9% from October 2021…