Health and Welfare Plan Inflation-Adjusted Limits for 2017

HR Alert October 2016 In order to avoid costly penalties and administratively burdensome correction procedures, plan sponsors must remain up-to-date with respect to applicable Health and Welfare plan limits. Yesterday,October 26, 2016, the IRS announced cost-of-living adjustments affecting 2017 dollar limitations for Health and Welfare plans and other related Health and Welfare Benefits items. We've included some of Read More

Fiduciary Breach Cases Continue to Make Headlines | Hall Benefits Law Seeks New Associate | ERISA Penalty Increases Now in Effect | Case Points to Importance of HIPAA Policies and Procedures

Plan Sponsors Under the Microscope as Fiduciary Breach Cases Make Headlines Prestigious universities' 403(b) plans are facing lawsuits for alleged breaches of fiduciary duties under ERISA. Universities in the midst of active lawsuits include Emory University, Johns Hopkins University, Massachusetts Institute of Technology (M.I.T.), N.Y.U., Yale University, University of Pennsylvania, Duke University, and Vanderbilt Read More

Hall Benefits Law Welcomes David Hall

Hall Benefits Law is excited to announce the addition of David Hall as its Director of Business Development. David was born and raised in Atlanta, he is an alumnus of Marist School, and he earned his Bachelor's Degree at Wake Forest University. Prior to joining Hall Benefits Law, David was the Southeastern District Sales Manager for School Outfitters, a role in which he consulted with school districts throughout the Read More

Supreme Court Upholds Federal Exchange Subsidies

On June 25, 2015, the Supreme Court ruled, in a 6-3 decision, that subsidies for individuals who purchase health insurance on Federally-facilitated health insurance Exchanges are legal under the Affordable Care Act (ACA). This HR Alert provides an overview of the issues involved in King v. Burwell, the Supreme Court's stated reasoning for upholding Federal Exchange subsidies, and the possible implications of this Read More

Pre-Approved Plan Program Extended to Include Cash Balance Plans and Employee Stock Ownership Plans (ESOPs)

On June 8, 2015, the Internal Revenue Service (IRS) issued Revenue Procedure 2015-36 (the “Revenue Procedure”), updating existing guidance on pre-approved plan (including master and prototype (M&S) and volume submitter (VS) plans) applications for opinion and advisory letters. It also opens the pre-approved program to cash balance plans and ESOPs. The Revenue Procedure modifies and supersedes Revenue Procedure Read More

Revenue Procedure 2015-27: IRS Updates Qualified Retirement Plan Correction Program

The IRS recently released Revenue Procedures 2015-27 and 2015-28, which modify, but do not replace, the existing Employee Plans Compliance Resolution System (EPCRS) in Revenue Procedure 2013-12 (the “2013 Revenue Procedure”). This HR Alert summarizes the changes included in Revenue-Procedure 2015-27. The July HR Alert will include a summary of the modifications set forth in Revenue-Procedure 2015-28. Generally, the Read More

IRS Prohibits Reimbursement of Individual Health Plan Premiums – Limited Transition Relief Available for Small Employers

Earlier this year, the IRS issued Notice 2015-17 (the “Notice”), which addresses employer direct payment or reimbursement of individual health plan premiums. Prior to the Affordable Care Act (ACA), employers were allowed to reimburse premiums paid for individual coverage on a tax-favored basis. Many small employers adopted this type of arrangement rather than sponsoring a group health plan. However, the Notice Read More

What are the Advantages and Disadvantages of a Phantom Equity Plan?

I was recently asked to describe the advantages and disadvantages of a phantom equity plan. Phantom equity plans are particularly useful for private companies without publicly traded shares of stock.  Privately held companies have unique organizational traits that require a substantially different approach to executive compensation. Often, executive compensation arrangements that are appropriate in a publicly Read More

What Relief Is Provided Under the Employer ‘Pay or Play’ Mandate Final Regulations?

On February 10, 2014, the Department of Treasury (the "Treasury") and Internal Revenue Service (IRS) issued final regulations on the requirement that employers provide affordable health insurance to employees (the "Employer Mandate") and the associated "Pay or Play" penalty under health care reform.  This HR Alert provides a summary of the transitional relief available during 2015 under the final Read More

What Are Some Employer Best Practices for Managing a DOL Audit?

Most employer ERISA pension and welfare benefit plans are subject to investigation by the Department of Labor (DOL).  The Employee Benefits Security Administration (EBSA) is the agency of the DOL responsible for enforcing Title I of ERISA (which sets minimum standards to ensure that employee benefit plans are maintained in a fair and financially sound manner), including managing civil and criminal investigations. Read More