On May 5, 2021, the Ways and Means Committee in the U.S. House of Representatives showed a rare sign of bipartisanship by unanimously passing the Securing a Strong Retirement Act of 2021 – more commonly known as SECURE 2.0. The bill builds on a number of items that were included in the SECURE Act that…

Today, the DOL announced new guidance for plan sponsors, plan fiduciaries, record keepers and plan participants on best practices for maintaining cybersecurity, including tips on how to protect retirement benefits.  This is the first time the department’s Employee Benefits Security Administration (EBSA) has issued cybersecurity guidance. Below is what they released today with web links –…

Yesterday (April 7), the Department of Labor issued a series of frequently asked questions (“FAQs”) regarding the COBRA provisions of the American Rescue Plan of 2021 (“ARP”) – along with four model COBRA notices.  The FAQs clarify a number of issues.  Employers need to take action right now. You might recall that on March 11,…

On March 26, 2021 the IRS released Announcement 2021-7, which provides that amounts paid for personal protective equipment for the primary purpose of preventing the spread of COVID-19 are treated as amounts paid for medical care under Section 213(d) of the Internal Revenue Code.  This means that amounts paid for things such as masks, hand sanitizer…

Earlier this month, the American Rescue Plan Act of 2021 (“ARPA”) became the latest COVID relief package passed by the federal government. ARPA, just like the many COVID relief packages that came before it, contains a number of changes that benefits professionals will want to become familiar with. Only for 2021, ARPA allows employers to…

Late last week, President Biden signed the American Rescue Plan Act of 2021 (“ARPA”), which makes COBRA continuation coverage free for certain qualifying-individuals and their families from April 1, 2021 to September 30, 2021.  This free coverage is available to those who lose group health plan coverage because either: they are terminated (not including resignations);…