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On June 3, the Internal Revenue Service provided temporary relief from the requirement in IRS regulations that certain participant elections must be witnessed in the physical presence of a plan representative or notary. While primarily intended to facilitate CARES...
by Barry Salkin, Roberta Casper Watson and Livia Quan Aber The Paycheck Protection Program (“PPP”), which was enacted as part of the CARES Act, allows businesses to borrow funds that are guaranteed by the federal government to be used to pay certain operating expenses...
On May 27, 2020, the Eastern District of Pennsylvania, in Leventhal v. MandMarblestone Group, LLC, handed down a decision that highlights the dangers facing both plan sponsors and plan service providers when a cybersecurity breach results in money stolen from a...
The DOL and IRS have issued COVID-19 related guidance that temporarily extends certain deadlines applicable to welfare plans and their participants and beneficiaries. COVID-19 Related Guidance. In April 2020, the DOL issued EBSA Disaster Relief Notice 2020-01, and the...
The Supreme Court has long recognized that one of ERISA's principal purposes was to make “sure that if a worker has been promised a defined pension benefit upon retirement - and if he has fulfilled whatever conditions are required to obtain a vested benefit - he...
The IRS has announced the 2021 calendar year dollar limits for health savings account (“HSA”) contributions, and the minimum deductible amounts and maximum out-of-pocket expenses for high deductible health plans (“HDHPs”). By law, these limits are indexed annually to...
by Barry Salkin, Roberta Casper Watson and Livia Quan Aber The Families First Coronavirus Response Act (the “FFCRA”) established tax credits under the Emergency Paid Sick Leave Act and the Emergency Family and Medical Leave Expansion Act. We have discussed these...
The IRS, in Notice 2020-29, has relaxed the mid-year election change rules for cafeteria plans due to the nature of the public health emergency imposed by COVID-19, extended grace and carryover periods for certain plans, and clarified the rules for HSA contributions....
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