On April 14, 2021, the U.S. Department of Labor (DOL) released three-part guidance on cybersecurity issues for employee benefit plans, marking its first significant commentary on the issue since its comprehensive but nonbinding report in late 2016.
The DOL’s guidance
Employee Benefits
INSIGHTS AND LEGAL UPDATES ABOUT PRIVATE SECTOR EMPLOYEE BENEFITS AND COMPENSATION PLANS.
The Employee Benefits blog published by Perkins Coie LLP focuses on legal developments and compliance issues related to employee benefits and executive compensation. It covers topics such as group health plans, self-funded health plans, ERISA fiduciary responsibilities, cybersecurity risks for benefit plans, and state-specific regulations like Washington's Equal Pay and Opportunity Act and WA Cares Fund. The blog also addresses contractual considerations for plan sponsors, legislative amendments affecting benefits administration, and emerging legal requirements impacting health plan sponsors. It serves as a resource for employers, plan fiduciaries, and legal professionals navigating the evolving regulatory landscape of employee benefits.
Latest from Employee Benefits - Page 3
EBSA Guidance on COBRA Subsidy in the American Rescue Plan Act
By Perkins Coie
The American Rescue Plan Act of 2021 includes a 100% federal subsidy of COBRA premiums (including the up-to-2% administrative fees) during the period of April 1, 2021, through September 30, 2021. Earlier this week, the Employee Benefits Security Administration published…
Employer Responsibilities Under the ARPA COBRA Subsidy
By Perkins Coie
The American Rescue Plan Act of 2021 (ARPA) includes a 100% federal subsidy of COBRA premiums (including the up-to-2% administrative fees) during the period of April 1, 2021, through September 30, 2021. The subsidy applies to group health coverage typically…
Struggling Multiemployer Pension Plans Receive a Lifeline Under the American Rescue Plan Act of 2021
The multiemployer pension plan system is facing a funding crisis with over 100 plans projected to become insolvent in the next 10 to 20 years. This rate of plan insolvency was projected to cause the collapse of the Pension Benefit…
IRS Clarifies Extended Cafeteria Plan Relief
By Perkins Coie
In late December, Congress passed the Consolidated Appropriations Act, 2021 that included cafeteria plan relief but left many open questions regarding how the relief provisions should be implemented and administered. The IRS issued Notice 2021-15 on February 18 to provide…
COVID-19 Vaccine Questions Answered
With multiple states rolling out phased access to COVID-19 vaccines, many employers are considering whether they want to require employees to be vaccinated, how to encourage employee vaccinations, and the implications of vaccine policies for their businesses. Here are some…
Employee Benefit Provisions in the Consolidated Appropriations Act, 2021
President Trump signed into law the Consolidated Appropriations Act, 2021 (the Omnibus Bill) on December 27, 2020. The following update provides a summary of key employee benefit provisions in the Consolidated Appropriations Act.
The act expands and extends certain…
Employee Benefit Plan Developments—2020 Year in Review
Employee benefits professionals have faced many challenges in 2020.
The following update provides highlights of key developments that employers and other plan sponsors should consider as 2021 approaches. Read the full article.
2021 IRS Annual Employee Benefit Plan Limit Updates
By Perkins Coie
The IRS has issued its annual employee benefit plan limitations for 2021.
Preparing for the 2021 Public Company Reporting Season
In anticipation of the upcoming annual report and proxy season, we are highlighting new requirements and trends for public companies in 2021. This update includes:
- SEC rule changes and guidance updates that affect annual reports and proxy statements
- Proxy advisor
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