Seyfarth Synopsis: Avid readers of Beneficially Yours may recall that just over a year ago we asked the pressing question of whether surgical mask purchases could be covered under a health care FSA, among other “novel” coronavirus questions — see what we did there? [Click here for our previous post.] The IRS has confirmed our
Sarah Touzalin, Christina Cerasale and Irine Sorser presenting ERIC Webinar: “Unfinished Business – Guidance and Questions Under the SECURE Act”
On Thursday, April 8 at 2:00 p.m. ET, Seyfarth employee benefits attorneys Sarah Touzalin, Christina Cerasale and Irine Sorser will present the ERIC Webinar: “Unfinished Business – Guidance and Questions Under the SECURE Act.”
The COVID-19 pandemic created many forms of legislative relief and regulatory guidance in 2020. However, the pandemic also necessarily resulted in
I Am Not Throwing Away My [COVID] Shot!
COVID-19 vaccines are finally here! Employers have a lot to think about in how this new tool in the fight against COVID-19 applies in the workplace, and whether it should be a mandatory aspect of employment. Check out the labor and employment considerations about the extent to which an employer should implement a vaccine policy,
Happy New Year! The IRS Grants Permission to Celebrate New Year’s Eve
Seyfarth Synopsis: The IRS has announced that the due date for contributions to a single-employer defined benefit pension plan due in 2020, previously extended to January 1, 2021 by the CARES Act, will be considered timely if made no later than January 4, 2021.
Under the funding rules for qualified defined benefit pension plans, plan
Upcoming Webinar! “Navigating a New Landscape: Post-COVID Retirement Plan Design and Administrative Issues”
Thursday, October 8, 2020
3:00 p.m. to 4:00 p.m. Eastern
2:00 p.m. to 3:00 p.m. Central
1:00 p.m. to 2:00 p.m. Mountain
12:00 p.m. to 1:00 p.m. Pacific
COVID-19 has changed the landscape of retirement readiness for many employees. Employees have been furloughed or lost jobs and plan account balances have been negatively
IRS Provides Guidance on CARES Act Defined Benefit Contribution Funding Relief
Seyfarth Synopsis: As Seyfarth has blogged about on multiple occasions [here, here and here], the CARES Act provided relief for qualified plans as a result of COVID-19. With respect to qualified defined benefit pension plans, the CARES Act extended the deadline for making minimum required contributions until January 1, 2021, and permitted
Seyfarth Launches COVID-19 Employee Benefits Toolkit
Businesses are dealing with the effects of the pandemic on retirement plans and pensions, executive compensation, and health and welfare benefits. Workforce management issues resulting in reduction in hours, furloughs, and severance situations have required unique approaches to termination, conversion or bridging of benefits.
Our Employee Benefits & Executive Compensation attorneys have been monitoring, advising
Out for a Penny, Out for a Pound? IRS Provides Employees Opportunity to Cancel Non-Qualified Deferral Elections through Self-Certification
Seyfarth Synopsis: As Seyfarth has blogged about on multiple occasions [here and here], the CARES Act provides participants in tax-qualified retirement plans the opportunity to request distributions on a tax-favored basis by self-certifying that they have been adversely impacted by COVID-19. Seyfarth has also blogged about the IRS’s recent guidance on these distributions
PBGC Issues Q&As Related to the Pandemic and the CARES Act
Seyfarth Synopsis: With the background of the COVID-19 pandemic, the PBGC published unofficial guidance for plan sponsors of single-employer plans on certain reportable events, PBGC premium payments and plan termination issues. The Q&As (found here) provide detail on when and how to report a failure to make required minimum contributions in light of the
Webinar: Seyfarth, Moss Adams, and Northwest Plan Services Present “A Guide to Implementing the CARES Act and More: Relief for Employers and Retirement Plans Explained”
As we all are aware, the global pandemic is a force to be reckoned with. Life as we now know it looks completely different than what we had expected a mere few months ago. Nowhere is this more evident than in the financial fortunes of US companies and workers. In response, Congress passed the Coronavirus