Experience

Implementation of Health Savings Account

We provided comprehensive advice to our client regarding its implementation of a high deductible health plan with a Health Savings Account (HSA) feature. This project involved analyzing and communicating to the client the complex interplay between HSAs and other benefit options, advising on plan design, writing plan documents and disclosures, and reviewing written communications to employees.

Firm Highlights

Blog

DOL Proposed Regulation Highlights the Risks of ESG Investing for ERISA Fiduciaries

On June 23, 2020, the U.S. Department of Labor (“DOL”) issued a proposed regulation outlining the duties of an ERISA fiduciary when considering an investment that incorporates environmental, social, and corporate governance (“ESG”) factors...

News

Nearly 80 Verrill Attorneys Recognized by Best Lawyers® 2021, Including a Dozen Named Lawyers of the Year

(August 24, 2020) – Nearly 80 Verrill attorneys were recognized as "Best Lawyers" by Best Lawyers® 2021 , including 12 attorneys named “Lawyer of the Year,” a distinguished recognition for only a single lawyer...

Publication/Podcast

December 2019 Client Advisory

Click here to view as a PDF. This Client Advisory highlights important developments in the law governing employee benefit plans and executive compensation over the past year. It offers insight into what these developments...

Blog

A Chronology of COVID-19 Relief for ERISA Plans

This chronology traces the major ongoing relief provided by legislation, regulatory action, and other agency guidance to assist ERISA plan participants, fiduciaries, and sponsors during the ongoing COVID-19 pandemic through August 10, 2020. Superseded...

Publication/Podcast

The SECURE Act

Click here to view as a PDF. The Setting Every Community Up for Retirement Enhancement Act of 2019 (the “SECURE Act”) is the most far reaching new law affecting retirement benefits in more than...

Blog

IRS Issues New Guidance on CARES Act Retirement Plan Distributions and Loans

The IRS recently issued Notice 2020-50 , which expands relief provided for retirement plan distributions and loans under the Coronavirus Aid, Relief, and Economic Security Act (CARES Act). Distributions Under the CARES Act, a...

Blog

ERISA and COBRA Implications for EAPs and Wellness Programs

There is a growing trend for employers to provide employee assistance programs (“EAPs”) and wellness programs for the benefit of their employees. Typically, the employer pays for benefits under these programs out of its...

Blog

IRS Allows Tax-Advantaged Leave Donation to COVID-19 Relief Organizations

Under new guidance, the IRS will give favorable tax treatment to employees who donate leave to COVID-19 relief organizations. In IRS Notice 2020-46 , the agency announced that employees who donate paid leave for...

Blog

Allocation of Medical Loss Ratio Rebates and Premium Refunds

One consequence of the current COVID-19 crisis for group health plans has been the significant reduction in employee preventive care and elective medical procedures as people shelter in place and socially distance. When group...

Blog

Proposed Regulations Clarify Application of Excise Tax under Code Section 4960

Proposed Regulations published by the Treasury Department last month provide helpful clarifications regarding the application of the excise tax under Section 4960 of the Internal Revenue Code of 1986, as amended (the “Code”). The...