This post was updated on April 7, 2020. Please read the update here.
On March 18, 2020, the Families First Coronavirus Response Act (FFCRA) was signed into law requiring employers with fewer than 500 employees to make payments for
Employee Benefits Law Report
Reporting on recent legal developments and trends affecting employee benefits
The Employee Benefits Law Report, published by Porter Wright Morris & Arthur LLP, focuses on legal and regulatory issues related to employee benefit plans. It covers topics such as compliance with Department of Labor (DOL) guidance, ERISA requirements, summary plan descriptions, plan documents, and fiduciary responsibilities. The blog addresses practical concerns for plan sponsors and fiduciaries, including annual funding notices, ESOP transaction regulations, and best practices for plan administration. It also provides explanations of key employee benefits concepts and helps employers navigate complex regulatory frameworks affecting retirement and welfare benefit plans.
Latest from Employee Benefits Law Report - Page 4
Navigating employment issues in the wake of COVID-19 webinar
We have all felt the tremendous impact to our workplaces and daily lives following the COVID-19 outbreak We’ve also watched the daily press conferences announcing new legislation and executive orders–but what happens next?
My colleagues Leigh Ann Benedic and Mike…
IRC Section 409A v. COVID-19: The nonqualified and executive compensation clash, and how employers can navigate it
Unintended consequences are a fact of life. As one of many examples, after the Titanic sank, the United States enacted a law that required any American ship carrying over 100 tons of weight to have enough lifeboats for every passenger.…
Employer disclosures of COVID-19 diagnoses
As more test kits become available for COVID-19 and an increasing number of people are tested, there will be more positive diagnoses. Because of COVID-19’s rapid community spread, many employers will soon see positive diagnoses of their own employees. If…
Navigating employment issues, help for small businesses and a delay in the tax deadline
There have been a number of helpful blogs recently from our colleagues at Porter Wright aimed at helping businesses navigate the COVID-19 outbreak.
Navigating Employment Issues in the Wake of COVID-19 webinar
We have all felt the tremendous impacts to…
DOL proposes a more practical rule for electronic ERISA disclosures
On Oct. 23, 2019, the Department of Labor (DOL) released a proposed rule for electronic delivery of ERISA disclosures. Although the DOL already allows for electronic delivery under the 2002 Electronic Safe Harbor, its availability is limited and technology…
Final IRS hardship regulations – Less of a hardship to take and administer
Special thanks to Victoria Hanohano-Hong, Porter Wright law clerk, for her assistance on this article.
The IRS recently published final regulations, which amend the hardship withdrawal rules for 401(k) and 403(b) plans. The regulations reflect statutory changes to 401(k) and…
Sellers beware: Recent court case shows sellers – as well as ESOP fiduciaries – should be engaged in ESOP due diligence and valuation process
Sixth Circuit nonqualified deferred compensation plan decision highlights importance of Code Section 409A compliance and ERISA claims procedures
By Greg Daugherty & Dave Tumen
We often receive questions about whether different types of bonus plans and nonqualified deferred compensation plans (NQDC plans) are subject to ERISA. We explain that being subject to ERISA may be a good thing for an NQDC plan, particularly with…
Individual coverage HRAs: A potential alternative to traditional group health plan coverage?
In a reversal of previous Obama Administration guidance, the Trump Administration recently finalized regulations that provide for a new type of health reimbursement arrangement—the individual coverage HRA. In a previous blog, we briefly discussed the potential for the individual…