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By McDermott Will & Emery on Jan 21, 2016
Posted In Employee Benefits, Employment
The Internal Revenue Service has issued correction procedures for Forms 941 and W-2 in response to the retroactive increase in transit benefit exclusions. Read the full article.
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EU Data Protection Reform and Its Impact on EU and Non-EU Businesses
By Anthony A. Bongiorno and McDermott Will & Emery on Jan 12, 2016
Posted In Privacy and Data Security
The European Commission’s proposed changes to the current legal framework on data protection will soon be adopted and will impact on EU and non-EU businesses alike. Read the full article (PDF).
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Cadillac Tax Delayed to January 1, 2020; Extension of ACA Health Plan Information Reporting Due Dates
By McDermott Will & Emery on Jan 7, 2016
Posted In Employment, Health and Welfare Plans
Recent year-end delays to important Affordable Care Act requirements have given employers and other stakeholders much needed reprieve. President Obama signed into law a two-year delay of the Cadillac Tax on December 18, 2015. This two-year delay is part of Congress’s $1.8 trillion omnibus spending deal, the Consolidated Appropriations Act, 2016. In addition, the IRS...
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How to Determine Full-Time Employment Status of Employees for the ACA Employer Shared Responsibility Mandate
By McDermott Will & Emery on Jan 5, 2016
Posted In Employee Benefits, Employment, Health and Welfare Plans
As part of the insurance market reforms enacted under the ACA, large employers are required to maintain a certain level of health insurance for their common law employees (and only their common law employees) or pay a penalty — the so-called pay or play or employer shared responsibility rules. The rules for determining which workers...
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Employers Need 2015 Year-End Planning to Meet Employee Reporting and Withholding Requirements
By McDermott Will & Emery and Joseph K. Urwitz on Dec 17, 2015
Posted In Benefit Controversies, Employment, Executive Compensation
To avoid tax reporting and withholding penalties as 2015 draws to a close, employers need to properly plan and check their reporting for employees under non-qualified deferred compensation, fringe benefits, health benefits or other remuneration. Year-end planning for employers is important, because employee information reporting, including both Form W-2 and the new Affordable Care Act...
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New Transit Benefit Requirements for D.C. and New York Employers Effective January 1, 2016
By McDermott Will & Emery on Dec 10, 2015
Posted In Employee Benefits, Employment
Two new laws require employers in Washington, D.C., and New York City to offer pre-tax transit benefits, effective on January 1, 2016. Employers with employees in these cities must take action quickly to ensure compliance with the new requirements. Read the full article.
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Reportable Event Changes for Pension Plans Effective January 1, 2016
By McDermott Will & Emery, Diane Morgenthaler and Patrick Ryan on Dec 2, 2015
Posted In Fiduciary and Investment Issues, Retirement Plans
Effective January 1, 2016, the Pension Benefit Guaranty Corporation (PBGC) altered the reportable event rules for defined benefit pension plans. Although new PBGC regulations make electronic filing of all reportable event notices mandatory, the regulations also substantially reduce the reporting requirements for pension plan administrators, sponsors and contributing employers. Read the full article.
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DOL’s New Disability Claim Rules Add to a Plan Administrator’s Duties under Welfare and Retirement Benefit Plans
By McDermott Will & Emery on Nov 30, 2015
Posted In Benefit Controversies, Employee Benefits, Health and Welfare Plans, Labor, Retirement Plans
Now, faced with an aging baby-boomer generation and increased costs related to disability litigation, the U.S. Department of Labor’s Employee Benefit Security Administration (DOL) has proposed new rules that would revise and strengthen the current rules for claims adjudication of disability claims under welfare and retirement plans. Read the full article.
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EEOC to Clarify and Expand Wellness Program Incentives Related to the Genetic Information Nondiscrimination Act
By McDermott Will & Emery on Nov 13, 2015
Posted In Employee Benefits, Employment, Health and Welfare Plans
On October, 30, 2015, the Equal Employment Opportunity Commission (EEOC) issued a proposed rule that would amend regulations implementing Title II of the Genetic Information Nondiscrimination Act of 2008 (GINA), as they relate to employer wellness programs. Title II of GINA protects employees from employment discrimination based on their genetic information, including the health status...
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Recent Government-Issued FAQs Cause Plan Sponsors to Clarify Preventive Care and Wellness in Health Plan Communications
By McDermott Will & Emery on Nov 5, 2015
Posted In Employee Benefits, Employment, Health and Welfare Plans
On October 23, 2015, the U.S. Departments of Labor (DOL), Health and Human Services (HHS) and Treasury issued frequently asked questions (FAQs) on the implementation of preventive care and wellness provisions of the Affordable Care Act (ACA) and mental health parity disclosure, adding to the existing list of 28 previous editions of FAQs on the...
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