While the Patient-Centered Outcomes Research Initiative (“PCORI”) fee was updated at the turn of the year, the fee is not actually paid until July. For those of you that forgot about the fee, this is your reminder to start the process now before the good weather of summer arrives.
The Affordable Care Act imposed the PCORI fee on specified ...
On February 25, 2025, the White House issued a new executive order aimed at implementing many of the Administration's previously issued directives to health plans. During his first term in 2019, President Trump issued an executive order on health care price and quality transparency supported by Section 1311(e)(3) of the ACA, which imposes ...
If you have equity as part of your retirement or executive compensation plans, you likely need a 409A valuation. The need for a valuation also applies if you are preparing to issue equity (equity grants or stock options) or synthetic equity (stock appreciation rights or phantom equity). In all of those cases, an independent 409A valuation of the ...
There is a telltale sign that you are a true benefit nerd . . . you have printouts of the annual benefit plan limits tacked to the wall by your desk. I frequently reference my charts, but It has been a few years since I found a comprehensive chart online that encompassed both the retirement and health plan limits that I need at my fingertips regularly. After ...
Just before the holidays, two bills impacting reporting under the Affordable Care Act (“ACA”), H.R. 3801 (EMPLOYER REPORTING IMPROVEMENT ACT) and H.R. 3797 (PAPERWORK BURDEN REDUCTION ACT), passed both houses and were sent to the President for signature. President Biden signed the bills into law, making the changes effective for the ...
The U.S. Department of Labor (DOL) issued a revised Voluntary Fiduciary Compliance Program (VFCP), a long-awaited update by many in the industry. The most significant change is the introduction of a self-correction component, including self-correction for certain delinquent participant contributions. Based on our experience, late ...
The IRS this past Friday issued proposed regulations regarding mandatory Roth catch-up contributions. SECURE 2.0 amended the catch-up contribution provisions of the Code. The Act provided that, beginning in 2024, individuals eligible to make catch-up contributions who made over $145,000 (indexed in future years) in wages in the previous ...
We have noticed an increasing number of employers reaching out with questions about whether they should have their defined contribution plan join the auto-portability network. This new option, introduced by SECURE 2.0, has gained traction as many major recordkeepers have committed to joining the auto-portability network and have begun ...
Earlier this year, the Internal Revenue Service (IRS) issued a number of new notices updating and clarifying the preventive services expenses that high deductible health plans (HDHP) can cover without affecting a participant’s health savings account (HSA) eligibility. As background, there are multiple requirements that must be met in ...
If you are 73 or older, remember to take your Required Minimum Distributions from any retirement plan or IRA you may have. As discussed in prior blog posts, Required Minimum Distributions (“RMDs”) are taxable amounts that account owners must withdraw annually if they meet the age requirement of 73. Failure to take an RMD on time may result in ...