Having health insurance is critical in this time of rising medical costs. Many employees enjoy access to insurance through employer-offered plans. But what happens when employee is terminated? The Consolidated Omnibus Budget Reconciliation Act of 1986, as amended (“COBRA”)  provides relief to employees in danger of losing health insurance due to a qualifying event like the loss of a job. However, that relief comes at Read More

Saving for retirement is an important consideration for most Americans. Social Security retirement payments are sometimes not enough to fully fund retirement, so many employers offer retirement plans to their employees. For example, a company might establish a 401(k) then match a certain percentage of deposits made by employees. However, many workers find themselves caught between paying down student loan debt and Read More

The Affordable Care Act, enacted in March 2010, was intended to make affordable health insurance possible for millions of Americans. However, with that expanded access came the need for new and complicated reporting by employers. As with many government programs, ACA reporting failures happen, bringing with them stiff penalties for violators.       ACA REPORTING REQUIREMENTS The number and type Read More

Association Health Plans (AHPs) are both group health plans and multiple employer welfare arrangements (MEWA). However, unlike typical plans offered by employers, this benefit is sponsored by a group association of employers. Recently, the Department of Labor (DOL) has provided new guidance and regulation regarding association health plans. Association Health Plans, in General As an employee welfare benefit plan Read More

Multiple employer plans (MEPs) and multiple employer welfare arrangements (“MEWAs”) allow workers greater access to retirement programs. However, the Department of Labor recently proposed a revised definition of the term “employer” that may bring about changes to MEPs and MEWAs. Companies that currently participate in MEPs or MEWAs, or who wish to participate in such a plan, need to learn more about the revised Read More

Recruiting the right executives requires companies to develop the right compensation plans. In fact, the task can be daunting, especially in a tight employment market. However difficult it may seem, it just takes a little analysis and thought to create executive compensation plans that attract, motivate, and retain key employees.     Designing an Executive Compensation Plan that Attracts and Read More

Two issues hit close to home for most people: privacy and equality or fair treatment. Our federal government has enacted legislation and put regulations in place to protect an individual’s right to keep medical information private. In addition, those laws closely correlate to federal nondiscrimination laws. It’s important for employers and plan administrators to understand the nexus between HIPAA and federal Read More

The Employee Retirement Income Security Act of 1974, as amended (“ERISA”) does not explicitly require that fiduciaries carry fiduciary liability insurance. However,given the risks taken by fiduciaries, the insurance may be considered money well spent. In fact, plan administrators and others may consider the existence of fiduciary liability insurance before hiring a service provider for their plan. In this article, we Read More