Author: Trucker Huss

Searching for Missing Retirement Plan Participants

BARBARA PLETCHER, September 29, 2022  Over the years, the Department of Labor (DOL), the Pension Benefit Guaranty Corporation (PBGC), and the Internal Revenue Service (IRS) have published guidance regarding acceptable methods of searching for missing participants in tax-qualified retirement plans governed by the Employee Retirement Income Security Act (ERISA). In the September Benefits Report, we […]

DOL Proposes Stricter Prohibited Transaction Exemption Application Procedures

MIA BUTZBAUGH, July 28, 2022  The Employee Retirement Income Security Act of 1974, as amended (ERISA) includes rules that limit plan fiduciaries’ conduct. The limits set forth in ERISA Sections 406 and 407(a) are known as the “prohibited transaction rules” and are so broad that, absent exemptions, employee benefit plans would be unable to function. […]

FICA Tax Withholding and Reporting for Section 457(b) and 457(f) Nonqualified Deferred Compensation Plans

J. MARC FOSSE, July 28, 2022  Administering withholding and reporting of taxes under the Federal Insurance Contributions Act (FICA) for nonqualified deferred compensation plans maintained under Section 457 of the Internal Revenue Code (the “Code”) can be complex for many tax-exempt organizations. Employers frequently need assistance in setting up proper procedures and pay codes to […]

DOL Releases RFI on Possible Agency Actions to Protect Life Savings and Pensions from Threats of Climate-Related Financial Risk

YATINDRA PANDYA, May 26, 2022  On February 14, 2022, the Department of Labor (DOL) Employee Benefits Security Administration (EBSA), which is responsible for administering, regulating and enforcing the provisions of Title I of the Employee Retirement Income Security Act of 1974 (ERISA), published a Request for Information on Possible Agency Actions to Protect Life Savings […]

Revisiting the HIPAA Proposed Rule: What Group Health Plan Sponsors Need to Know

SARAH BOWEN, May 26, 2022  In late 2020, the Office for Civil Rights (OCR) at the Department of Health and Human Services (HHS) proposed significant changes to the Health Insurance Portability and Accountability Act of 1996 (HIPAA) Privacy Rule, aimed primarily at improving care coordination and data sharing. As the final rule on these changes […]

Ninth Circuit Court of Appeals Revives Two 401(k) Fee Cases, Potentially Making It More Difficult for Plan Fiduciaries to Obtain Early Dismissal

 DYLAN RUDOLPH and CLARISSA KANG, April 21, 2022  In a rather surprising move, the Ninth Circuit Court of Appeals issued two short decisions within the span of a week, which reversed lower court dismissals in 401(k) fee cases brought against Salesforce.com, Inc. and Trader Joe’s Company. A motion to dismiss challenges the quality of a […]

Texas District Court Vacates Part of New IDR Rule for Surprise Medical Billing

 JENNIFER WONG, March 31, 2022  On February 23, 2022, the U.S. District Court for the Eastern District of Texas vacated certain provisions of the interim final regulations (IFR) which the tri-agency Departments of Labor, Health and Human Services, and Treasury (the “Departments”) issued pursuant to the surprise medical billing rules under the No Surprises Act […]

Tri-Agencies Provide Additional At-Home COVID-19 Testing Coverage Guidance

RYAN KADEVARI and JENNIFER TRUONG, February 22, 2022  On February 4, 2022, the Departments of Labor, Health and Human Services (HHS), and the Treasury (collectively, the Departments) released additional guidance concerning group health plan and health insurance coverage of over-the-counter COVID-19 diagnostic tests (“OTC Tests”). The guidance complements an initial set of FAQs previously issued […]

Missing Participants: The Search Continues

JOELLE TAVAN, February 22, 2022  For a number of years, the Employee Benefit Security Administration (EBSA), the Department of Labor (DOL)’s branch responsible for administering and enforcing the fiduciary, reporting, and disclosure provisions of Title I of the Employee Retirement Income Security Act of 1974 (ERISA), has made missing plan participants one of its key […]

Long-Anticipated Supreme Court Decision on Excessive Fee Pleadings Standards Sends Case Back to the Seventh Circuit — Hughes v. Northwestern University

ANGEL L. GARRETT and CATHERINE L. REAGAN, February 4, 2022  With 401(k) plan excessive fee litigation sweeping the nation, the wait is finally over: The Supreme Court has issued a decision which plan fiduciaries anticipated might revolutionize excessive fee case pleading standards — Hughes v. Northwestern University.1 On January 24, 2022, the Supreme Court held […]

Health Plans and Insurers Required to Cover At-Home COVID Tests

MARY E. POWELL, January 11, 2022  On January 10, 2022, the Departments of Labor, Health and Human Services, and Treasury (the “Departments”) issued FAQs Part 51 (FAQs) regarding the requirement for health plans to cover over-the-counter (OTC) COVID-19 diagnostic testing (“OTC COVID Tests”). This will be required effective with OTC COVID Tests purchased on and after […]

2022 Pension Plan Limitation Highlights

SHANNON OLIVER, December 15, 2021  On November 4, 2021, the Internal Revenue Service issued Notice 2021-61, containing the cost-of-living adjustments related to retirement plan limitations under the Internal Revenue Code (the “Code”). These changes will take effect on January 1, 2022. Below are some of the highlights. I.  Limitations That Have Increased The limitation on […]

Delay of Some Key Provisions of the Consolidated Appropriations Act and the Affordable Care Act’s Transparency Requirements

MARY E. POWELL, August 31, 2021  On August 20, 2021, the Departments of Labor (DOL), Health and Human Services (HHS) and Treasury (collectively, the Departments), issued Frequently Asked Questions (FAQs) regarding the implementation of certain provisions of the Consolidated Appropriations Act, 2021 (CAA) and the Affordable Care Act (ACA). Fortunately, several of the most complicated […]

Internal Revenue Service Updates the Employee Plans Compliance Resolution System under Revenue Procedure 2021–30

T. KATURI KAYE and NICOLAS DEGUINES, August, 2021  On July 16, 2021, the Internal Revenue Service (IRS) released Revenue Procedure 2021-30, an updated version of the Employee Plans Comp­liance Resolution System (EPCRS), which we will refer to in this article as the “EPCRS Update.” This article summarizes the significant changes and revisions made by the […]

IRS Guidance on COBRA Premium Assistance — What We Know Now

SARAH KANTER, July, 2021  After the passage of the American Rescue Plan Act of 2021 (ARP) and release of DOL model notices and FAQs on April 7, 2021, employers and other plan sponsors were still left with many open questions regarding the implementation of COBRA premium assistance. The IRS provided clarity to many of these […]

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