Search the News Archive

Final QDRO Regulation Expected Soon from DOL

Excerpt: The U.S. Department of Labor (DOL) plans to publish a final regulation in April clarifying the rights and obligations of parties seeking to obtain benefits under a qualified domestic relations order (QDRO). Specifically, the rule will clarify that a domestic relations order (DRO) otherwise meeting the requirements to be a QDRO shall not fail to be treated as a QDRO solely because the order is issued after, or revises, another DRO or QDRO, or because of the time at which it is issued.

The Importance of Operational Procedures and Controls for Retirement Plan Administration (PDF)

2 pages. Excerpt: It all boils down to knowing who does what andwhen they do it, and being able to prove they did it.

IRS Sets 2011 Blended Meals and Incidental Expenses Rates for Transportation Industry

Excerpt: The blended M&IE rates are available to employers directly involved in moving people or goods .... They provide a level at which employers in the transportation industry may reimburse their employees for expenses. Employers whose employees travel frequently also may use the rates. They are intended to simplify recordkeeping for such employers, since their employees may travel during a single payroll period to many locations with different M&IE rates.

Arizona Ban on Benefits for State Employees Domestic Partners on Hold

Excerpt: Domestic partners of Arizona state employees may be receiving benefits next year, now that a federal judge has blocked a state law that would have prohibited the state government from extending benefits to them.

New Employee Perk: Cash for Flying in Coach

Excerpt: Airlines may not want to hear this, but at least one company that sends thousands of employees on business trips, is successfully encouraging them to fly coach instead of business class. How? By paying them half the savings in air fare.

Health Care Reform's No-Rescission Rule and COBRA: Do They Conflict?

"On June 28, 2010, the federal agencies that interpret the Act's mandates issued an interim final rule ... explaining how the no-rescission rule works. This guidance raises the possibility that the no-rescission rule overrides certain fundamental COBRA principles. Plan administrators need to consider the implications of this no-rescission rule in planning for COBRA administration."

Fringe Benefits a 'Key Area' of Upcoming IRS Audits

Excerpt: The IRS is on a mission to learn what issues are hiding in employers' records; thus, the [employment tax national research program] audits will prove to be more invasive than they would be if auditors had a specific target.

Health Reform Law Increases Adoption Assistance Exclusion and Credit

Excerpt: Employers that offer adoption assistance and employees who take advantage of it -- or that claim the adoption tax credit -- need to make adjustments that reflect the provisions of the Patient Protection and Affordable Care Act (the PPACA) that increase the employer-provided adoption assistance exclusion and the adoption tax credit. The PPACA, enacted March 23, 2010, increased the tax credit under Code Section 23 to $13,170 for all adoptions, including adoptions of children with special needs. It also increased the exclusion for employer-provided adoption assistance under Section 137 to $13,170 for all adoptions, including adoptions of children with special needs.

Companies Adopt Smoker-Free Policies To Arrest Chronic Disease Costs

Excerpt: To obtain a workforce that doesn't smoke (thereby lowering health and insurance costs), some employers are prohibiting smokers on and off-site, even if that means regulating off-hours behavior. Adapting a smoker-free policy is more stringent than a smoke-free policy, which bans smoking on the worksite or premises and is often implemented in response to a local or state ordinance requiring employers to do so.

How to Sort Out Your Fringe Benefits Before the IRS Does

Excerpt: In this month's column, we begin to identify various fringe benefits the IRS has included for its three-year audit initiative. As with other audit initiatives, the precise focus of the audits will evolve and some of the targeted issues will increase or decrease in importance. Given the timing of the audits and the importance the IRS places on voluntary compliance, as well as the availability of various relief provisions applicable to fringe benefits and payroll taxes, employers should identify the fringe benefits that they offer as potential targets, beginning with the obvious -- those that arise from a specific statutory exemption.