Legislative & Regulatory Updates

Raising the Roof - New Limits for HSAs and HDHPs

The Internal Revenue Service has announced new limits for contributions to Health Savings Account (HSAs) and definitional limits for High Deductible Health Plans (HDHPs) that will be effective for the 2017 calendar year. 

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DOL’s New Fiduciary Regulation: Seven Action Items for the Next Year

To comply with the new fiduciary investment advice rules, plan sponsors will like this "To Do" list of what needs to be done before April 2017.

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EEOC Proposed Changes to EEO-1 Report: Take a Closer Look at Pay Programs

The EEOC proposal requires companies to disclose the number of employees and total hours worked by job categories and annual salary bands.  If approved, it is recommended that companies get out ahead of the issue before questions start coming down from executives and board members.

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Leap Day Deadline Looms – Creditable Coverage Disclosures to CMS

If you sponsor a calendar year group health plan that provides prescription drug coverage to Medicare Part D-eligible individuals, then you have a Leap Day deadline.

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You're Safe! IRS Provides Guidance on Mid-year Changes to Safe Harbor 401(k) Plans

While plan sponsors of safe harbor 401(k) plans have enjoyed the benefits of not having to worry about passing nondiscrimination and top-heavy testing, some have struggled with the limitations on making mid-year amendments to such plans. In Notice 2016-16, the IRS provides additional guidance allowing such mid-year amendments.

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Legislation Signed by the President on November 2nd Impacts Pensions

Most notable among the pension changes is an increase in premiums payable by single-employer defined benefit plans to the Pension Benefit Guaranty Corporation (PBGC). 

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Handy Reference - 2016 Employee Benefit Plan Limits

This handy reference includes 2016 limits for employee benefit plans, Social Security benefits, Medicare prescription drug benefits, and Health Savings Accounts (HSAs). As a point of comparison, 2015 plan limits are also included.

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Seven Questions to Pose for FLSA Overtime Regulations

The changes outlined in the proposed overtime regulations will likely impact financial results, human resources and information systems.

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Dodd-Frank Pay Ratio Final Regulations

The SEC issued a final rule to establish the standards for compliance with the executive pay ratio requirements. Issuers have several actions as they prepare for the disclosure.

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One More Year Until New Mortality Tables Are in Place for Lump Sums

Plan sponsors have one more year before the new mortality tables are in place and lump sum values increase. Consult with your actuary for details on the implications and strategies of de-risking before the RP-2014 mortality tables are implemented.

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IRS Eliminates 5-Year Determination Letter Remedial Amendment Cycles for Individually Designed Plans

Written By Jason Rothman

On July 21, 2015, the IRS issued Announcement 2015-19, which eliminates the 5-year remedial amendment cycles for individually designed plans, effective January 1, 2017. As of that effective date, the IRS will no longer accept determination letter submissions for plans based on the 5-year remedial amendment cycles (with the exception of Cycle A plans which have a determination letter submission period of February 1, 2016 through January 31, 2017).

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