Insights

Sponsors of group health plans should be familiar with the requirement for the annual filing of tax forms with the IRS (Forms 1094-C/1095-C).

States continue to address the lack of retirement plan offerings for their residents.

Earlier this month, the IRS announced a new pilot program for pre-examination retirement plan compliance. The program is effective immediately.

In this Thought Leadership article, we have summarized some employee benefit changes and reminders that our busy clients should be aware of for this quarter.

The Internal Revenue Service (IRS) issued an information letter to provide guidance regarding the taxation of a cash refund of any unused transportation benefit.

As we reach the end of 2021, retirement plan sponsors should ‒ or may want to ‒ take several actions and/or review plan items to ensure compliance with ERISA and the Internal Revenue Code (the Code).

Plan sponsors should review the cost of living adjustments (COLAs) to determine what, if any, changes need to be communicated to employees by means of orientation meetings and enrollment forms.

The IRS Employee Plans Compliance Resolution System (EPCRS) permits retirement plan sponsors to correct certain plan failures so they can continue to provide their employees with retirement benefits on a tax-favored basis.

In the May 2021 Employee Benefit Plans Alert headlined Cybersecurity Guidance for Retirement Plans, the specialists in our Employee Benefit Plans Group discussed the recently-released guidance from the Department of Labor (DOL) Employee Benefits Security Administration (EBSA) regarding the importance of adopting comprehensive cybersecurity best practices.

The IRS has issued Revenue Procedure 2021-30 which updates its Employee Plans Compliance Resolution System (EPCRS).

Small retirement plants are the subject of this article as we want to keep our readers updated on what’s going on in the EBP field including:

The House Ways & Means Committee unanimously approved the Securing a Strong Retirement Act of 2021 (SECURE Act 2.0 or the Act), sending it to the House floor for consideration.