Restricted stock grants (RSGs) are one of the most common forms of equity compensation in publicly traded companies. More than two-thirds of large publicly traded companies and half of small companies use RSGs. Generally, restricted stock grants provide executives grants of shares of stock that are subject to forfeiture unless certain conditions are satisfied. The shares become available to the executive as the Read More
How do I Correct a 401(k) Plan Loan Error?
Many 401(k) plans allow loans to participants. However, failure to properly administer plan loans is a common 401(k) compliance issue. Before distributing loans to participants, plan sponsors should ensure that their plan document: (i) allows plan loans and (ii) appropriately reflects the requirements prescribed under Internal Revenue Code (the “Code”) Section 72(p). What are the loan requirements under the Read More
Business Associates and Business Associate Contracts
An HR Director recently asked me (i) how to determine if an entity is a business associate and (ii) what terms should be included in a business associate agreement? Who is a Business Associate? Generally, a business associate is a person who, on behalf of a health plan, and in a capacity other than as part of the covered entity’s workforce: performs or assists in performing a function or activity involving the Read More
Frequency of HIPAA Privacy Training
I was recently asked how often an employer is required to provide HIPAA privacy training to employees. It does not appear that the regulations specify a certain training frequency or content. Instead, the regulations generally state that a "covered entity" train all members of it's workforce on the covered entity's privacy policies and procedures, as necessary and appropriate for the members of the workforce to Read More