Seyfarth Synopsis: As foreshadowed in our earlier post, the first complaint was filed in what is expected to be a wave of litigation alleging breach of fiduciary duty in selecting and monitoring welfare plan vendors. While the facts of
Beneficially Yours
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Seyfarth Releases Survey Tracking Gender Affirming Care Insurance Coverage Laws
Over the last year, there has been an onslaught of state legislation enacting limits on gender-affirming care for minors. Access to gender-affirming care has become a flashpoint at the forefront of the culture wars, with state legislation largely following party…
Wellness Apps and Privacy
This article was originally posted to Seyfarth’s Global Privacy Watch blog.
Employers looking to enhance their suite of employee benefit programs, and focused on lessons learned during the pandemic on wellbeing, are interested in providing greater access to wellness…
SECURE 2.0: Guidance on Exception to Early Distribution Penalty for Terminally Ill Individuals
Seyfarth Synopsis: As previously reported here, on December 20, 2023, the IRS issued Notice 2024-2 (the “Notice”) providing guidance on several outstanding questions related to provisions under SECURE 2.0. This blog post summarizes the guidance under the Notice for…
“SECURE-ing” the Answers to Outstanding Questions on the Rothification of Employer Contributions
Seyfarth Synopsis: Under Section 604 of Secure 2.0, sponsors of 401(k), 403(b) and eligible governmental plans may allow employees to designate employer match (including match on student loan repayments) or nonelective contributions as Roth after-tax contributions at the time they…
The IRS’s Grab Bag of SECURE 2.0 Guidance is Here!
Seyfarth Synopsis: Adding to the holiday joy of employee benefits practitioners nationwide, yesterday the IRS issued guidance on several outstanding questions related to SECURE 2.0. At this time of year, we are especially thankful that the guidance was issued on a…
Coffee Talk With Benefits Episode 17: Long-Term Part-Time Employee Guidance
On November 24, 2023, the IRS issued highly anticipated proposed regulations concerning the provisions under SECURE and SECURE 2.0, requiring 401(k) plans to expand deferral eligibility for long-term part-time employees. The proposed rules answer a number of burning questions that…
Coffee Talk With Benefits Episode 16: Junk Insurance
Earlier this year, the Biden-Harris Administration took a firm stance against ‘junk insurance’ by introducing regulations aimed at impacting short-term limited duration insurance policies, independent non-coordinated coverage, and level funded plan arrangements. In this episode, our guests Diane Dygert and…
IRS Releases 2024 Limits for Health and Welfare and Related Plans
Seyfarth Synopsis: The IRS has announced an increase to the applicable dollar amount for determining the Patient-Centered Outcomes Research Institute (“PCORI”) Fee for 2024 as well as other health and welfare limits.
The Affordable Care Act (ACA) established the PCORI…
The Long Wait for the Long-Term Part-Time Guidance is Over
True to form, the IRS released long-awaited proposed regulations during a long holiday weekend. This time they are narrowly focused on the eligibility rules for Long-Term Part-Time employees first introduced under the SECURE Act, and then expanded by SECURE 2.0.…