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The Internal Revenue Service has issued proposed regulations that redefine the term "dependent" under the Internal Revenue Code. In particular, the proposed regulations implement the changes made to the Code (including the definition of dependent) by the Working...
In recent months, the IRS has provided guidance with respect to hardship withdrawals from tax-qualified plans. In an October 2016 entry on its website, Hardship Distribution Tips from EP Exams, the IRS advised plan sponsors that a common operational error in...
Friday, February 3, 2017 - The waiting and speculation as to the actions that the Trump Administration might take with respect to the DOL Fiduciary Rule ("Fiduciary Rule") has ended. This afternoon, President Trump issued an Executive Memorandum that delays the...
We would like to update the ERISA LAW ALERT sent earlier today. In the Alert, which was based on a draft version of the Executive Memorandum, we stated that the DOL Fiduciary Rule would be delayed for 180 days. The final version of the Executive Memorandum, like the...
The Sixth Circuit Court of Appeals recently determined, in Casagrande v. OhioHealth Corp., that an employer violated the Family and Medical Leave Act of 1993 ("FMLA") when it failed to notify an employee on FMLA leave that he would not be restored to his position...
On Monday, January 30th, President Trump issued an executive order providing that, unless otherwise prohibited by law, in the event an executive department or agency proposes or promulgates a new regulation, it must identify at least two existing regulations to be...
Dear Clients and Friends: The U.S. Department of Labor's new fiduciary "Conflict of Interest Rule" applicability date of April 10, 2017, is fast approaching and the implications of being a fiduciary (whether you have always been one or are going to become one for the...
The IRS has released updated Q&As to explain the information reporting requirements under the Affordable Care Act ("ACA"). Background. The ACA added Section 6055 to the Internal Revenue Code, which requires every provider of minimum essential coverage to report...
Retirement Plan Governance: Understanding the Role of a Benefit Plan Committee - Legg Mason, January 2017
The recently enacted 21st Century Cures Act (the "Act") will allow small employers that do not offer any group health plan to their employees to resume offering "qualified small employer" Health Reimbursement Arrangements ("QSEHRAs") to employees that can be used to...