Employee Benefits
Have questions about the new Frequently Asked Questions for group health plans’ coverage of over-the-counter COVID-19 test kits? Our Employee Benefits & Executive Compensation Group addresses key provisions of the extensive requirements for plans and issuers.
Plans have a pair of safe harbors to limit reimbursement to $12 per test and limit the number of tests available to eight per month (or 30 days)
Plans have some flexibility to prevent fraud and offer education to participants
Certain plans must provide preventive care for colonoscopies and contraceptive services
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Do You Need to Send an Annual Notice to Plan Participants?
If so, you may need to do so by December 1, 2021. Our Employee Benefits & Executive Compensation Group reviews the multiple year-end notices that defined contribution plans must issue to participants.
2022 retirement plan limitsNotice content and deadlinesPractice pointers
Read the full advisory here.
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Do You Need to Send an Annual Notice to Plan Participants?
Qualified Retirement Plan Considerations and 2019 Year-End Action Items
Our Employee Benefits & Executive Compensation Group reminds plan sponsors to get ready for 2019 IRS year-end amendments and offers year-end action items.
Discretionary amendments
Changes to hardship withdrawals
Adjustment to the determination letter program
Read the full advisory here. [...]Read more
Final Hardship Distribution Rules Are Here: Does Your 401(k) or 403(b) Plan Comply?
Our Employee Benefits & Executive Compensation Group examines the numerous changes – mandatory and permissible – plan sponsors can make to their 401(k) or 403(b) plans in light of new regulations for hardship distributions.
When do you need to amend your plan?
What are the mandatory and permissible changes?
What next steps should you take?
Read the full advisory here. [...]Read more