On July 29, 2019, the Department of Labor issued final rules clarifying when an employer group or association, or professional employer organization (“PEO”) may sponsor a defined contribution multiple employer retirement plan (“MEPs”). Although MEPs already exist, the Department issued the regulation to alleviate the uncertainty surrounding the ability of PEOs and associations to sponsor
Renee Lieux
New Options for Providing Health Care Coverage
By Renee Lieux on
Posted in Employee Benefits
On June 13, 2019, the U.S. Department of the Treasury, Department of Labor, and Department of Health and Human Services issued final regulations which expand the options for employers to fund health insurance for employees. Previously, employers were not permitted to establish heath reimbursement accounts (“HRAs”) for employees to purchase individual health insurance coverage unless…
IRS Expands Self-Correction Program for Retirement Plans
By Renee Lieux on
Posted in Employee Benefits
In Revenue Procedure 2019-19 effective April 19, 2019, the IRS expanded a plan sponsor’s ability to Self-Correct certain retirement plan failures. This expansion makes it easier for plan sponsors to fix retirement plan mistakes without paying the fee assessed for corrections and, more importantly, without contacting the IRS. The changes expand the Self-Correction Program in…
Ten Changes to Consider for Your Benefit Plans in 2019
By Renee Lieux on
Posted in Employee Benefits
2019 is the year of “tidying up” thanks to the popular Netflix show. Start the year off by reevaluating your employee benefit plans to determine whether they continue to meet the changing needs of your workforce while complying with changing regulatory requirements. Here is our top-ten list of changes to consider in 2019 (in no…