Search the News Archive

Employee Benefits Provisions of the CARES Act and Other Federal Relief

"[T]he CARES Act ... made 4 key changes that apply generally to tax-favored retirement vehicles -- [1] the creation of 'coronavirus-related distributions,' [2] an expansion of the limits available for participant loans, [3] a suspension of participant loan repayments and [4] 2020 required minimum distribution (RMD) relief.... [T]he 2020 RMD relief will likely be mandatory but the loan and coronavirus-related distribution provisions will likely not be.... [T]he CARES Act requires that group health plans cover certain COVID-19 preventative care within 15 days of recommendation."

Recent Developments in the Voluntary Compliance Program: What You Need to Know

"Sponsors of plans considering new VCP submissions need to take this potential shift into account when making strategic decisions about whether and how to file a VCP submission (vs. for example use of self-correction), must be prepared to timely respond to IRS requests for additional information, which often means anticipating possible follow-up requests, and must be prepared to take into account the risk of being unable to resolve a submission."

Get Ready for the Massachusetts Paid Family and Medical Leave Law

"All employers must provide written notice to covered individuals of their rights under the PFML by June 30, 2019 ... The notice may be in hardcopy or electronic form but employers must collect a signed acknowledgment of receipt.... (A covered individual may also refuse (in writing) to sign the acknowledgement.) Beginning July 1, 2019, employers must provide all new covered individuals with the notice (and obtain a signed acknowledgment of receipt) within 30 days of his or her start date."

A Question and Answer Guide to Internal Revenue Code Section 409A (PDF)

14 pages; 33 Q&As. "This guide provides, in question-and-answer format, a digest of the major features of Internal Revenue Code Section 409A that clients and nontax lawyers may need to know. (This guide has been updated as of October 2017 to reflect guidance issued to date.)"