By Jon Schultze and Barry Salkin Some of the IRS regulations dealing with tax-qualified plans predate ERISA and subsequent federal tax legislation, and have become outdated. However, sometimes it takes IRS a long time to update its regulations to reflect current...
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SECURE Act 2.0 Modification to Controlled Group and Affiliated Service Group Requirements
By Jon Schultze and Barry Salkin One of the less-discussed provisions of the recently enacted SECURE Act 2.0 makes two changes to the “family attribution” rules under Section 414 of the Internal Revenue Code (the “Code”). As described below, these technical rules...
Departments Issue Guidance Requiring First Annual “Gag” Attestation by December 31, 2023
By Dannae Delano, Roberta Casper Watson and Barry Salkin The Consolidated Appropriations Act of 2021 (“CAA”) is the most significant compliance challenge for employer health plan sponsors since the Affordable Care Act. Compliance is now required for its provisions...
District Court Once Again Invalidates No Surprises Act Regulations
By Roberta Casper Watson, Dannae Delano and Barry Salkin The No Surprises Act directs the Departments of Treasury, Labor, and Health and Human Services (the “Departments”) to establish a Federal Independent Dispute Resolution Process (the “Federal IDR Process”),...
Employee Benefit Plans
Employee Benefits Plans - Barry Salkin, contributing author, Start-Up & Emerging Companies: Planning, Financing & Operating the Successful Business, ALM
Secure Act 2.0 Litany of Retirement Change Presents Employers Enhanced Retirement Opportunities for Employees
Secure Act 2.0 Litany of Retirement Change Presents Employers Enhanced Retirement Opportunities for Employee - Marcia Wagner, Dannae Delano, Alexander Olsen, Kim Shaw Elliott and Barry Salkin, Bloomberg Tax, Tax Management and Compensation Journal, Vol. 52, No. 02,...
Who’s Liable When a Plan Participant is a Victim of Identity Theft
By Jordan Mamorsky and Barry Salkin Because of the scarcity of case law and regulatory guidance on the issues, any case that analyzes the liability of ERISA plan sponsors and service providers following a cybersecurity incident and/or identity theft will be heavily...
Proposed IRS Regulations Would Make Permanent the Availability of Remote Spousal Consent Elections
By Barry Salkin Longstanding Internal Revenue Service (“IRS”) regulations with respect to spousal consent to a waiver of benefits require an election to be witnessed in the physical presence of a notary public or plan representative. Due to the coronavirus pandemic,...
Congress Enacts Respect for Marriage Act
By, Barry Salkin, Roberta Watson and Jon Schultze n the ordinary course, we would not be advising clients that a statute that a Supreme Court held unconstitutional nine years ago was being removed from the United States Code. However, since the Dobbs decision...
First Circuit Illustrates the Importance of the Fiduciary Responsibilities of Health and Welfare Plan Sponsors and Severance Providers Under ERISA
First Circuit Illustrates the Importance of the Fiduciary Responsibilities of Health and Welfare Plan Sponsors and Severance Providers Under ERISA - Dannae Delano, Barry Salkin and Roberta Casper Watson, Bloomberg Tax Management Compensation Planning Journal, Vol. 50...