Author Archives: Sarah Sise

Fiduciary Cannot Use ERISA 502(a)(3) To Seek Equitable Relief for Participant

In Duda v. Standard Insurance Company, a recent case decided by the Federal District Court in the Eastern District of Pennsylvania, we are reminded of the limits on the type of relief an employer may obtain for participants in its […]

Posted in ERISA Litigation, Fiduciary Issues, Legal Updates, Plan Administration and Compliance, Welfare Plans | Tagged , , , , , , , | Leave a comment

Documentation Hardship for Hardships (and Participant Loans, Too)

What is the IRS thinking about when it announces that plan sponsors, even those using a qualified TPA/recordkeeper, should maintain the records for hardship distributions and participant loans? 401(k) plans particularly (although this applies to other types of qualified plans […]

Posted in Legal Updates, Plan Administration and Compliance, Tax-qualified Retirement Plans | Tagged , , , | Leave a comment

What we’ve got here is a failure to communicate

Unlike the 1967 film, Cool Hand Luke, where the prison warden delivers the above line shortly after giving a beating to prisoner Luke (Paul Newman) for making a sarcastic remark, employers may be worried about a beating from the IRS […]

Posted in Health Care Reform, Multi-employer Plans | Tagged , , , , , | 2 Comments

How to Avoid the “Kitchen Sink” Appeal and Other Nuances for A Self-Insured Health Plan

For many years, medical plan drafting was viewed as a commodity. Insurance companies, third-party administrators and brokers often prepared summary plan descriptions and plan documents for self-insured medical plans using form documents. With the passage of the Affordable Care Act […]

Posted in Commentary/Opinions/Views, ERISA Litigation, Health Plans, Welfare Plans | Leave a comment

Check and Double-Check! Errors on Your Form 5500 Can Lead to an IRS Audit

Mistakes on your plan’s Form 5500 create a nice target for the Internal Revenue Service’s auditors. In its February 2, 2015 edition of Employee Plans News, the Internal Revenue Service explains that entering incorrect information or leaving a blank in […]

Posted in Plan Administration and Compliance, Qualified Plans, Welfare Plans | Tagged , , , | Leave a comment

Eligible Rollover Distributions – Safe Harbor Notices Revised

In Notice 2014-74, the Internal Revenue Service (“IRS”) issued amendments to the safe harbor eligible rollover distribution notices – one of which describes the rollover options available to distributions from non-Roth accounts and the other of which describes the rollover […]

Posted in Legal Updates, Plan Administration and Compliance, Qualified Plans, Tax-qualified Retirement Plans | Tagged , , , , | Leave a comment

HHS Guidance Recognizes HIPAA Privacy Rights of Same-Sex Spouses and Dependents

On September 17th, the Department of Health and Human Services Office for Civil Rights (“HHS”) issued guidance to assist covered entities and business associates in complying with the privacy requirements under the Health Insurance Portability and Accountability Act of 1996 […]

Posted in Health Plans, Legal Updates, Plan Administration and Compliance, Welfare Plans | Tagged , , | Leave a comment

2014 Year-End Qualified Retirement Plan Checklist

It’s time to ensure year-end qualified plan deadlines are satisfied. Below is a checklist designed to help employers with this process.  This checklist addresses both year-end deadlines and January 2015 deadlines which sponsors of qualified retirement plans may wish to […]

Posted in Legal Updates, Plan Administration and Compliance, Qualified Plans, Tax-qualified Retirement Plans | Tagged , , , , , , , , , | Leave a comment

Florida Stamp Tax

If your 401(k) plan maintains a participant loan program, you may discover that you have compliance concerns thanks to a relatively obscure Florida tax statue.  Under its revenue laws, Florida imposes a document tax on loan transactions that are made, […]

Posted in Legal Updates, Plan Administration and Compliance, Qualified Plans, Tax-qualified Retirement Plans | Tagged , , , , , | 4 Comments

83(b) Elections

Our sister blog, Start-Up Bryan Cave, recently posted about when and why to use the an 83(b) election.  The post has a good discussion of the advantages and disadvantages. One item it does not mention is the company’s deduction, which […]

Posted in Equity Compensation, Executive Compensation | Tagged , , , , , | Leave a comment