Administration

In the words of the great philosopher Marie Kondo, does this document spark joy? Doesn't matter. If it's a 401(k) or health and welfare plan record, the IRS says keep it anyway — for at least six years, joy or no joy.

At my talk at the SHRM Annual Conference in Orlando in June, I bemoaned the fact that health and welfare plan electronic disclosures were stuck in the era of AOL dial-up. Somebody from the DOL must have heard me, because we now have new proposed rules for health plan electronic disclosures.

Ah, the 1990's was a great time. Madonna's "Vogue," Jon Bon Jovi's "Blaze of Glory," Bryan Adams' "Everything I Do for You," and Whitney Houston's "I Will Always Love You."

And now, a return to having an at least annual paper statement for your 401(k) participants.

Congress and the US Department of Labor (DOL) apparently have a humorous side (who knew?). In a throwback to the 1990s, defined contribution plan sponsors must now provide at least one paper statement to participants each year, unless participants opt-in to receive them via electronic receipt.

When Congress passed Medicare Part D implementing prescription drug coverage under Medicare, it required all employers that offer prescription drug benefits to provide an annual notice to all Medicare-eligible plan before October 15th of each year, the start of the Medicare open enrollment period.

As we explained previously, funding for the Patient-Centered Outcomes Research Institute (PCORI) was supposed to end with filings and fees for plan years that began before October 1, 2019. In the words of the great philosopher Emily Litella, “Never mind.”

Starting in 2007, the Tax Relief and Health Care Act of 2006 (TRHCA) requires that the IRS release the upcoming year’s new HSA limits prior to June 1st. Thus, we now have the 2026 HSA limits.

When it seems like every letter of the alphabet has been thrown at you, we want to help you understand the similarities and differences between all of these different types of health care accounts available to employers to offer to their employees.

Your retirement plan offering is a valuable tool for recruiting and retaining talent, as well as helping your employees prepare for their retirement.  But, what if something were to happen to him or her before they could enjoy the savings they’ve worked so hard for?

Employers that offer High Deductible Health Plans (HDHPs) that provide telehealth benefits before the participant meets their annual deductible may need to amend their plan prior to their plan's year-end. The reason for this is that...

For plan years beginning in 2024, this new optional opportunity is for the plan to treat Qualified Student Loan Payments (QSLPs) as if they were elective deferrals to the plan (even though they were not contributed to the plan) and to provide a matching contribution to the plan as if they were.

Employers that offer prescription drug benefits are required to provide an annual notice to all Medicare-eligible plan participants and qualified beneficiaries before October 15th of each year, the start of the Medicare open enrollment period. Most send it to all participants.