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Employee Benefits Informer

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Nov 08, 2018

It’s Not Too Late to Amend Your Plans to Comply with the DOL’s New Disability Claims Procedures

In December 2016, the U.S. Department of Labor (DOL) announced new disability claims procedure regulations, effective April 1, 2018, for ERISA-covered plans. The new rules apply to all ERISA benefit plans that base any benefit decisions on the plan administrator’s determination of whether a person is “disabled.”

The rule applies to more than just disability plans

The new procedures also apply to retirement plans and non-qualified deferred compensation plans that provide disability benefits, but only if the plan’s definition of disability requires the plan administrator to make an independent determination that the participant is disabled. » Read More

Nov 07, 2018

Charles A. Bruder to Present at Healthier Somerset’s Annual Worksite Wellness Breakfast

Charles A. Bruder, a Member of law firm Norris McLaughlin, P.A., and Co-Chair of its Executive Compensation & Employee Benefits Practice Group, will be a presenter at Healthier Somerset’s annual Worksite Wellness Breakfast on Thursday, November 15, from 8:30am to 10:30am at Norris McLaughlin’s offices in Bridgewater. » Read More

Oct 26, 2018

Tax-Exempt Organizations, Excise Taxes and Executive Compensation – A Year End Reminder and 2019 Planning Opportunity

As 2018 draws to a close, the trustees, directors, and senior management of tax-exempt organizations should review the compensation structure of some of its executives in light of the Tax Cuts and Jobs Act (TCJA), which was enacted earlier this year. » Read More

Oct 24, 2018

Will We Finally See Adoption of the Retirement Enhancement and Savings Act/Family Savings Act in 2019?

A legislative vehicle that has periodically enjoyed bipartisan support in the past was reintroduced to Congress in 2018 and may just see a resurgence early next year, albeit under a different moniker.

The Retirement Enhancement and Savings Act (“RESA”), a collection of proposed enhancements to voluntary retirement plans, was approved by the Senate Finance Committee in 2016, but saw no further legislative action. » Read More

Oct 22, 2018

Short-Term Insurance Coverage Periods Get Longer in October

A new rule issued by the Trump administration will allow short-term health insurance plans to cover individuals for longer periods of time without complying with the consumer protections of the Affordable Care Act (“ACA”).  The rule aims to provide greater temporary gap coverage at a potentially lower cost to certain eligible individuals. » Read More

Oct 21, 2018

Trump Administration Will Study “Association” Retirement Plans for Small Businesses

Small employers should have an easier time banding together to create less expensive retirement plans for their workers, with potentially simplified required notices and disclosures to plan participants under an Executive Order recently signed by President Trump that addresses certain issues relating to private-sector retirement plans. » Read More

Oct 20, 2018

Welcome to the Norris McLaughlin Employee Benefits Informer!

Through periodic postings and commentary, our firm’s Executive Compensation and Employee Benefits practice group will provide its subscribers with informal guidance and discussion concerning timely employee benefits topics that impact today’s employers, executives and their professional advisors. From group health insurance plan issues to equity-based compensation topics, from retirement plan compliance items to income tax recognition matters, our attorneys will share their knowledge, insight, and years of experience in employee benefits and compensation matters through commentary and practical application of provisions of the Internal Revenue Code, ERISA and various federal and state guidance, notices and pronouncements. » Read More

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