News
June 27, 2023
Press Releases
Verrill Welcomes Kaitlyn Malkin to Firm’s Employee Benefits and Executive Compensation Group
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Firm Highlights
Blog
Student Loans and Code Section 127 Educational Assistance Programs: A Reminder from the IRS, FAQs, and a Sample Plan Document
On August 28, the IRS issued IR-2024-227 , reminding employers of the following key aspects of educational assistance programs under Internal Revenue Code Section 127: They can be used to help reimburse the costs...
Blog
IRS Provides Helpful Answers Regarding Long-Term Part-Time Employees in 403(b) Plans
In November 2023, the IRS issued proposed regulations addressing the SECURE 2.0 long-term part-time (LTPT) employee eligibility requirements applicable to 401(k) plans knowing that further guidance would be needed to explain how those requirements...
Blog
A Brief Guide to Qualified Disclaimers for Retirement Plan Administrators
A “qualified disclaimer” is a tax-effective way to refuse a transfer of property that would otherwise occur on someone’s death. From time to time, retirement plan administrators may be contacted by a beneficiary who...
Blog
Novel 401(k) Plan Lawsuits Over the Use of Forfeitures—Swinging for the Fences or Plausible Claims?
In our December 7, 2023 post , we noted five class action lawsuits, all filed by the same law firm within two months, in which 401(k) plan participants allege plan fiduciaries violated ERISA by...
Blog
Proposed Rules for Maine Paid Family and Medical Leave Provide Some Helpful Information for Employers
Maine’s comprehensive paid family and medical leave (PFML) law, enacted in October 2023, establishes a state benefits program funded by employer and employee contributions (the “Program”). The PFML law provides for implementation of the...
Blog
Prepare for Cooler Weather, Annual Enrollment, and 2025
Summer is ending and fall is rapidly approaching. For employee benefit professionals with calendar-year health and welfare benefit plans that means preparing for annual enrollment and year-end compliance requirements. This post provides a high-level...
Blog
IRS Issues Guidance Addressing Matching Contributions on Student Loan Payments
Section 110 of the SECURE 2.0 Act of 2022 (“SECURE 2.0”) permits employers maintaining a 401(k), 403(b), governmental 457(b), or SIMPLE IRA plan to make matching contributions based on qualified student loan payments (“QSLPs&rdquo...
Blog
Can a Self-Funded Group Health Plan Exclude Coverage for Gender-Affirming Care?
We are sometimes asked whether a self-funded group health plan is required to cover gender-affirming medical services. As this post explains in detail, it is generally impracticable for a self-funded ERISA-covered plan to exclude...
Blog
HHS Issues Model Attestation Required by Final HIPAA Regulations Supporting Reproductive Health Care Privacy
On April 26, 2024, the U.S. Department of Health and Human Services (HHS) and Office for Civil Rights (OCR) published Final Regulations under HIPAA’s Privacy Rule introducing greater protections for information related to reproductive...
Blog
A Primer on COBRA Continuation Coverage for Health Care Flexible Spending Accounts
It is a common practice for employers to offer employees a health care flexible spending account (“Health FSA”) option under a cafeteria plan. However, employers (and their COBRA administrators) may not be aware that...
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