Author Archives: Jennifer Stokes

Code Section 409A…Here Today but Possibly Gone Tomorrow and Other Proposed Changes in the Tax Cuts and Jobs Act

Last week the House unveiled its tax overhaul plan, the Tax Cuts and Jobs Act (“Act”).  The Act’s proposals related to employee benefits and compensation are as follows: Nonqualified Deferred Compensation Perhaps one of the most talked about aspects of […]

Posted in 409A, Deferred Compensation, Equity Compensation, Executive Compensation, Fringe Benefits, Legal Updates, Non-qualified Retirement Plans, Qualified Plans, Tax-qualified Retirement Plans | Tagged , , , , , , , , , | Leave a comment

Avoiding Beneficiary Befuddlement

Retirement plans are complicated creatures to administer so it perhaps is not surprising that the process of determining the beneficiary of a deceased participant can present its own set of challenges and, if things go awry, expose a plan to […]

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Stop! Drop! …and Roll. Smothering Regulations Before They Ignite.

It has been an eventful 10 days in the courts and in Congress for halting impending regulations and setting the stage to roll-back new rules implemented by the Obama Administration. Employers can expect a repeal of recently passed regulations is […]

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Clouds, With A Nearly 100% Chance of a Business Associate Agreement

HHS recently posted guidance on its website addressing HIPAA’s approach to cloud computing.  Basically, any time a cloud service provider has electronic protected health information (ePHI), it’s a business associate.  This is true even if the cloud provider only stores […]

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Tired of the Health Care Hullabaloo?

Hullabaloo: noun: a commotion, a fuss. In recent years, almost every change to health care has caused a hullabaloo. Today, we thought you might enjoy reading about a few recent and proposed changes that, although important, have not caused quite […]

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Good News for Safe Harbor Plan Sponsors: The IRS Will Allow Mid-Year Changes

On January 29, 2016, the Internal Revenue Service issued guidance on mid-year changes to safe harbor plans under Internal Revenue Code Sections 401(k), and 401(m). Notice 2016-16 significantly expands the permissible mid-year changes available to sponsors of safe harbor plans […]

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Hurry up and Spend the Money?

It’s like a simple set of facts on a law school exam with an answer that defies logic. And, yet, Supreme Court precedent has brought us to this illogical conclusion. Facts: Participant agrees to reimburse the plan money it has […]

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Self-Insured Plans – One More Reminder – Get those SSNs!

Annual open enrollment is always a complicated time for benefits teams…. Questions abound: Is the coverage offered legally compliant? What is the latest and greatest notice that must be included in the annual open enrollment package? Have the rules changed […]

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New IRS Procedures for Waiver of Penalties for Delinquent Form 5500 Filings

ERISA Plans.     Plan administrators who fail to timely file an annual report on Form 5500 are subject to penalties under both ERISA and the Code.  In 1995, the Department of Labor (DOL) adopted the Delinquent Filer Voluntary Compliance program (DFVC), […]

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Are You Smarter Than a Plan Administrator?

We want our employees to make healthy choices so that they will have long and healthy lives (and also to decrease the cost of health benefits).  We also want our employees to participate in the 401(k) plan so that they […]

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