I’m often asked to review the benefits and paid leave provisions in employer handbooks. Employers tend to focus first on retirement and health benefits, but significant compliance issues show up elsewhere. By far the most common multi‑state problem I see is an attempt to address state leave requirements with a one‑size‑fits‑all ...
Benefit professionals continue to navigate a regulatory environment made more complicated by SECURE 2.0, and one area ripe for confusion is the rules governing age‑based contribution limits and excess deferrals. While excess deferrals can arise in many situations, the new age‑60–63 “special catch‑up” rule provides an ...
As discussed in a prior post, a wave of ERISA lawsuits has challenged how employers use forfeited 401(k) plan assets, with plaintiffs arguing that applying forfeitures to offset employer contributions (rather than reallocating them to participants) violates a plan sponsor’s fiduciary duties. Employers and regulators argue that plan ...
As we round out the first month of the new year, many employers are reviewing and updating employee handbooks and workplace policies. At the same time, employers are increasingly offering or considering educational benefits in response to the rising cost of college. Employers should, however, take care to ensure these benefits are properly ...
Most ERISA covered plans realize that they need to file an annual Form 5500. A lesser known requirement is that multiple employer welfare arrangements (MEWAs) must also file an initial and annual Form M-1 with the DOL. The penalty for failing to file a Form M-1 is almost as severe as the penalty for failing to file a Form 5500, at a rate of $1,992 per day ...
As we have discussed in previous blogs, there have been a number of recent changes to the HIPAA privacy rule requiring action from plan sponsors. As you will likely recall, in December of 2024, all health plans covered by HIPAA were required to update their HIPAA policies to incorporate additional protections for reproductive health ...
The U. S. Department of Labor, Employee Benefit Security Administration (DOL) just announced changes to its national enforcement projects for 2026. The DOL is tasked with enforcing the Employee Retirement Income Security Act (ERISA) which governs employer-sponsored benefit plans. If your company sponsors an employee benefit plan for your ...
There is a telltale sign that you are a true benefit nerd… you have printouts of the annual benefit plan limits tacked to the wall by your desk. I’m guilty of it myself. Last year I finally got tired of bouncing between multiple charts to track the retirement and health plan limits I regularly reference, so I created a single comprehensive chart ...
Employee Stock Ownership Plans (ESOPs) are a powerful tool for ownership transition, offering tax advantages, liquidity for shareholders, and a path to employee ownership. At the same time, ESOP transactions are fiduciary transactions governed by the Employee Retirement Income Security Act (ERISA) and subject to close regulatory scrutiny. An ...
Earlier this month, the IRS issued guidance on the health savings account (HSA) changes enacted as part of the One Big Beautiful Bill Act (OBBBA). While the guidance does not significantly alter the provisions announced when the law was passed in July, it does provide helpful details on how the new rules will be applied operationally.