DOL’s New ESG Rule ‘Unremarkable’
DOL’s New ESG Rule ‘Unremarkable’ - Marcia Wagner, Forbes, November 23, 2022 (PDF)
Sophisticated Legal Solutions Boutique-Style Service
IRS Announces Increase in PCORI Fee
The IRS has released Notice 2022-59 to announce the “applicable dollar amount” for the Patient-Centered Outcomes Research Institute (“PCORI”) fee for plan years ending before October 1, 2023. Background. The PCORI was established under the Affordable Care Act to...
Department of Labor Proposes Updates to the Voluntary Fiduciary Correction Program
In 2002, the Employee Benefits Security Administration (“EBSA”) of the Department of Labor (“DOL”) established the Voluntary Fiduciary Correction Program (“VFCP”), a free program designed to encourage plan fiduciaries to voluntarily correct certain fiduciary breaches...
House Republicans Vow To Immediately Repeal Funding For 87,000 IRS Agents
House Republicans Vow To Immediately Repeal Funding For 87,000 IRS Agents - Marcia Wagner, Financial Advisor Magazine, November 18, 2022 (PDF)
IRS Announces Expansion of Change in Status Rules for Cafeteria Plans
One of the basic rules under which cafeteria plans operate is that elections are irrevocable except in certain limited circumstances. Further, even when those limited circumstances apply, the change in election must be consistent with the change in status. Legislative...
The Wagner Law Group Signs Letter to Congress on Crucial HSA Issue
During the pandemic, Congress allowed telehealth services to be provided to HSA-eligible individuals without cost-sharing and without regard to whether they had met their deductibles under their High Deductible Health Plans. That authorization expired December 31,...
IRS to Permit Determination Letters in Limited Circumstances for Individually Designed Code Section 403(b) Plans
Historically, an important element of compliance for tax-qualified plans under Code Section 401(a) or 403(a) was the submission of a request for a favorable determination letter on the form of the plan document. Indeed, requesting a favorable plan determination was...
Why the Crypto Collapse Matters
Why the Crypto Collapse Matters - Marcia Wagner, New York Times, November 17, 2022 (PDF)
New IRS Regulations Resolve “Family Glitch” Issue
The IRS has issued final regulations amending the Affordable Care Act (“ACA”) rules regarding eligibility for the law’s premium tax credit (“PTC”). The new rules provide that the “affordability” of employer-sponsored coverage for employees’ family members is based on...
Despite TPA’s Contractual Obligation, Employer May Still Be Liable for COBRA Notice Violation
An Alabama district court, in Howard v. Ivy Creek of Tallapoosa, LLC, has held that an employer could not avoid liability for failing to provide a COBRA election notice to a plan participant at the correct address merely because it had contracted with a third-party...