The HHS Office for Civil Rights (OCR) has begun the second phase of audits of covered entities and their business associates. Covered entities take into account employers with self-insured group …
DOL Increases Penalties for Health Plan and Other Violations
On June 30, 2016 the DOL issued an interim rule increasing penalties for various health plan and other compliance violations. The changes became effective beginning August 1, 2016 and include …
DOL Releases Final Fiduciary Rules
On April 6, the DOL issued final regulations modifying the definition of “fiduciary.” The new rules redefine who is considered a “fiduciary” for ERISA plans and for certain other plans …
IRS Releases Guidance on Mid-Year Changes to 401(k) Safe-Harbor Plans
Historically, safe harbor 401(k) plans generally have not been permitted to make mid-year amendments without risking plan disqualification. In Notice 2016-16, the IRS actually expanded the type of mid-year plan …
IRS Releases 409A and 457 Proposed Regulations
On July 22, the IRS released proposed regulations under Code Section 409A and under Code Section 457. Section 409A applies to deferred compensation arrangements while Section 457 governs 457(b) and …