The Employee Benefits Security Administration’s Role in ERISA Compliance

The Employee Benefits Security Administration (EBSA) is just one of the divisions operating under the United States Department of Labor. The EBSA’s mission, as stated on its website, is: “to assure the security of the retirement, health and other workplace related benefits of America’s workers and their families. We will accomplish this mission by developing effective regulations; assisting and educating workers, Read More

Are You Meeting ERISA Deadlines?

The Employee Retirement Income Security Act of 1974 (“ERISA”) sets minimum standards for many private industry pension and health plans. ERISA regulations also set deadlines for the submission of many reports and forms. Since penalties for ERISA compliance violations can be severe, it’s important to know whether your retirement plans are meeting ERISA deadlines. First, we can look at the types of deadlines that Read More

Three Reasons to Offer an ESOP to Your Employees

As the employment landscape changes, employers may search for benefit options that provide value to their employees and their business. One possibility that is sometimes overlooked is the employee stock ownership plan or ESOP. Similar to a profit sharing plan, an ESOP invests in the stock of the employer thereby creating a situation where the employer and employees share ownership of the business. Since ESOPs offer Read More

How to Defend an ERISA Lawsuit

People often say we live in a litigious society. Even employee benefit plans are not immune to lawsuit-happy plaintiffs. Plan administrators who are sued may be relieved to learn there are ways to defend an ERISA lawsuit. Motions to Dismiss or for Summary Judgment A defendant typically begins by assessing the claims contained in the lawsuit, then begins the process of defending against those claims. One of the Read More

IRS Updates Retirement Plan Limits

One of the most common compliance issues for employers and plan sponsors is failure to adhere to annual retirement plan limits. To avoid costly penalties and administratively burdensome correction procedures, plan sponsors must remain up-to-date with respect to applicable retirement plan limits. Today, November 1, 2018, the IRS announced cost-of-living adjustments affecting the 2019 dollar limitations for retirement Read More

IRS Issues Employer Mandate Penalties/Is an ESOP Right for Your Company?

  IRS Issues Employer Mandate Penalties On November 2, the IRS issued Letter 226J to applicable large employers (ALEs) (generally, an ALE is any employer with 50 or more full-time employees and full-time equivalents) that the IRS believes are subject to the penalties related to the employer ‘Pay or Play’ mandate for the 2015 tax year (the “Employer Shared Responsibility Payment (ESRP) Penalty”). It is reported Read More

60 Day Delay Proposed for Fiduciary Rule | Spotlight on Financial Wellness Programs | New Final Rule for Disability Claims Procedures

March 2017 HR Alert Employee Benefit Spotlight: Financial Wellness Programs A new type of employee benefit has emerged within the last few years called financial wellness programs. These programs aim to empower participants to take control over their financial lives, with the goal of increased participant productivity as well as participation in and effective use of employer-sponsored retirement plans. Financial Read More

Hall Benefits Law Welcomes Leilani Robinson | HBL Office Expansion | Anne Tyler Hall Named 2017 Super Lawyer

Hall Benefits Law Welcomes Leilani Robinson  Hall Benefits Law is excited to announce the addition of attorney Leilani Robinson. Leilani earned her Juris Doctor from the University of Oregon Law School in Eugene, Oregon. Her legal career spans over a decade, with experience as a tax examiner, insurance litigation attorney, and most recently as an associate representing clients in retirement plan audits and advising Read More

IRS Extends ACA Reporting Deadlines

The IRS issued Notice 2016-70 on November 18, 2016. The notice extends the due date by 30 days for businesses to provide Forms 1095-C and 1095-B to individuals. The new due date for furnishing these forms is March 2, 2017. It is important to note the filing deadline has NOT been extended and remains March 31, 2017 for electronic filing. Also, regulations allowing the IRS to give extensions of usp to 30 days to Read More

The Campaign and Beyond: Donald Trump on Healthcare and Employee Benefits

“Change is the only constant in life.” - Heraclitus, Greek Philosopher One week ago, more than 129 million Americans cast their ballots and chose the 45th President of the United States of America. How is the Trump presidency going to affect the world of ERISA and Employee Benefits Law? As a business owner, executive, or HR professional, how will policy changes over the coming years affect one’s ability to grow a Read More