Publications

Retirement Plan Relief in Consolidated Appropriations Act, 2021

T. KATURI KAYE and CATHERINE L. REAGAN, January 14, 2021 Signed by the President in December, the Consolidated Appropriations Act, 2021 (CAA) combines COVID-19 stimulus relief with a number of year-end appropriations bills, and it includes numerous provisions that will impact retirement plans. The retirement plan relief provisions in the CAA are divided between (1) […]

Flexible Spending Account Relief in Consolidated Appropriations Act, 2021

MARY E. POWELL and ELIZABETH LOH, January 6, 2021  In December, the President signed the Consolidated Appropriations Act, 2021 (CAA), which combines COVID-19 stimulus relief with a number of year-end appropriations bills. The CAA contains numerous provisions that will impact health and welfare plans. The provisions of the CAA that need immediate attention are the […]

Supreme Court to Decide on ERISA Preemption of State Law Regulating Prescription Drug Pricing

CLARISSA A. KANG, November 24, 2020  One of the cases heard by eight justices of the Supreme Court (after Justice Ruth Bader Ginsburg died and before Justice Amy Coney Barrett was appointed and sworn in), Rutledge v. Pharmaceutical Care Management Association involves the question of whether ERISA preempts or supersedes an Arkansas state law governing […]

Keeping COBRA Notices Compliant in an Ever-Changing Landscape

JAHIZ NOEL AGARD, November 24, 2020  2020 has presented several issues requiring urgent attention for employers who sponsor group health plans, including a need to update the notices required under the Consolidated Omnibus Budget Reconciliation Act of 1985 (COBRA), in particular the general (or initial) notice and the continuation coverage election (or enrollment) notice. This […]

A Pecuniary Focus: Department of Labor Issues Final Rule on Financial Factors in Selecting Plan Investments

ROBER R. GOWER, November 12, 2020  On October 30, 2020, the Department of Labor (DOL) issued a final rule (the “Final Rule”) amending the investment duties regulation under Section 404(a) of the Employee Retirement Income Security Act of 1974 (ERISA). The significant and much-anticipated Final Rule updates the existing investment duties regulation framework to provide […]

Nonqualified Deferred Compensation Plans Must Be Amended by December 31, 2020, to Remove Mandatory Payment Delays due to 162(m) Nondeductibility

J. MARC FOSSE, October 8, 2020  The amendments to section 162(m) of the Internal Revenue Code (“Code”) under the Tax Cuts and Jobs Act (TCJA) can create a payment trap for nonqualified deferred compensation plans with a mandatory payment delay of amounts that are not deductible under Code section 162(m). The proposed Treasury Regulations under […]