When you’re a plan fiduciary, you are, of course, prioritizing what ERISA law requires of you. You have a checklist of Must-Dos. But there is also a list of things that you can do proactively that will keep the plan—and plan fiduciaries—out of trouble. These tasks aren’t required by law, but they are certainly worth … Continued
Do you offer coverage to your employees through a self-insured group health plan? Do you sponsor a Health Reimbursement Arrangement (HRA)? If so, do you know whether your plan or HRA is subject to the annual Patient-Centered Research Outcomes Institute (PCORI) fee? This article answers frequently-asked questions about the PCORI fee, which plans are affected, … Continued
DOL Releases Assistance for Enforcement of Tip Credit Rules under FLSA On April 6, 2018, the U.S. Department of Labor released a field assistance bulletin (FAB No. 2018-3) providing guidance concerning the Wage and Hour Division’s (WHD) enforcement of tip credit rules under the Fair Labor Standards Act (FLSA) after Congress amended the FLSA in … Continued
There’s a good chance you use a wrap document to help satisfy your Employee Retirement Income Security Act (ERISA) summary plan description (SPD) obligations. Yet if you look for a definition of wrap document in ERISA statutes or regulations, you will not find one. The wrap is not a defined term or required document; it … Continued
Summary plan descriptions (SPDs) are required for all retirement, health, and welfare plans subject to the Employee Retirement Income Security Act of 1974 (ERISA). However, misconceptions about this requirement are widespread. ERISA attorney Stacy H. Barrow, partner with Marathas Barrow Weatherhead Lent LLP, had a chat with ThinkHR about the importance of having proper ERISA … Continued
On November 29, 2017, the U.S. Department of Labor (DOL) published a Final Rule that delays implementation of new claim rules for disability benefits through April 1, 2018. This 90-day delay is intended to give the DOL, insurers, employers, and other interested parties additional time to review the new rules. The DOL is collecting public … Continued
President Trump has announced his intent to nominate Preston Rutledge as Assistant Secretary of Labor, Employee Benefits Security Administration (EBSA). The position as head of the EBSA has been vacant since Phyllis Borzi stepped down in January 2017. The White House announcement includes highlights of Mr. Rutledge’s career which clearly demonstrate his knowledge and experience … Continued
On October 12, 2017, President Trump issued an Executive Order directing the Departments of Labor (DOL), Health and Human Services (HHS), and Treasury to develop new rules to allow some exemptions from the Affordable Care Act (ACA). The Order indicates the Administration’s priorities although it has no immediate effect since any rule changes must first … Continued
Revised EEO-1 “Component 2”Stayed Effective Immediately On August 29, 2017, the Office of Management and Budget (OMB) notified the Equal Employment Opportunity Commission (EEOC) that it is initiating a review and immediate stay of the new EEO-1 pay reporting requirements (Component 2) that were scheduled to take effect with the next filing cycle in March … Continued
The U.S. Department of Labor has issued compliance guidance for benefit plans, employers and employees, and service providers who are impacted by Hurricane Harvey. The guidance generally provides relief from various ERISA requirements and time limits for entities in the disaster area. This follows the Internal Revenue Service (IRS) announcement extending certain filing dates, including … Continued
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