Blitman & King has issued their Spring/Summer 2018 Benefits Update. To read more, view the newsletter here.
On December 1, 2016, the U.S. Department of Labor (“DOL”) will make a significant adjustment to the rules governing overtime exemptions for salaried workers under the Fair Labor Standards Act (“FLSA”) which will greatly benefit those workers. In March 2014, President Obama directed the DOL to make this change and, in the interim, the DOL […]
Inside this issue we cover: IRS EXTENDS DUE DATES FOR 2015 INFORMATION REPORTING UNDER INTERNAL REVENUE CODE (“CODE”) SECTIONS 6055 AND 6056 IRS NOTICE PROVIDES ADDITIONAL GUIDANCE REGARDING VARIOUS HEALTH REIMBURSEMENT ACCOUNT (“HRA”) ISSUES TWO YEAR DELAY OF THE “CADILLAC TAX” PENSION BENEFIT GUARANTY COPRORATION (“PBGC”) PREMIUM RATES INCREASE IN 2016 DOL PROPOSES AMENDMENTS TO […]
The New York attorney general’s office and the U.S. Department of Labor Employee Benefit Security Administration (“EBSA”) recently announced that they have entered into an agreement to work together on enforcement of the Employee Retirement Income Security Act and state laws governing health insurance plans. The arrangement will help cover enforcement gaps in state and […]
On October 31, 2011, a representative of the Department of Labor, Employee Benefits Security Administration, announced that the DOL expects to release guidance in the near future concerning new registration and reporting requirements for multiple employer welfare arrangements (“MEWAs”).
On October 24, 2011, the Department of Labor, Employee Benefits Security Administration, released its final rule on investment advice. This final rule implements a statutory prohibited transaction exemption under ERISA which permits financial advisors to receive fees from providers of investment products that are recommended to participants of employee benefit plans. The final rule becomes effective December 27, 2011.
U.S. Department of Labor Extends Effective Date of Service Provider Fee Dislosure Rule | Employment Law
The Department of Labor recently issued a final rule that extends by three months, from January 1, 2012 until April 1, 2012, the effective date for service providers to comply with final regulations concerning disclosure of fees and costs to the responsible plan fiduciary.
On February 11, 2011, the Department of Labor announced that it will extend until January 1, 2012 the effective date for compliance with final regulations concerning disclosure of plan fees and costs to participants in defined contribution participant-directed account plans.
U.S. Department of Labor Issues Fee Disclosure Regulations for Participant-Directed Defined Contribution Plans
On October 14, 2010, the U.S. Department of Labor issued final regulations concerning disclosure of plan fees and costs to participants in defined contribution participant-directed account plans. The final regulations will become effective December 20, 2010 and are applicable for the first plan year beginning on or after November 1, 2011 (January 1, 2012 for calendar year plans).
Health Care Reform requires that group health plans and health insurance issuers have effective internal claims and appeals process
One of the many provisions of the Patient Protection and Affordable Care Act of 2010 (“PPAC”) is a requirement that group health plans and health insurance issuers have an effective internal claims and appeals process. As is the case for a number of the PPAC provisions, this requirement becomes effective for plan years beginning on or after September 23, 2010. For a number of health plans, this will mean January 1, 2011.