The now conservative majority U.S. Supreme Court will hear three ERISA cases this term and decide issues involving the right to sue under ERISA. The Intel case deals with the statute of limitations for bringing a breach of fiduciary duty claim under ERISA. The Thole case involves whether participants in a fully funded defined benefit
How to Take Advantage of the IRS Expanded Self-Correction Program
By now you’ve probably read that the IRS has expanded the failures that can be self-corrected under the Employee Plans Compliance Resolution System (EPCRS) as set forth in Rev. Proc. 2019-19 issued April 19, 2019. This development comes on the heels
CalSavers Saved From ERISA Preemption By District Court
On March 29, 2019, the United States District Court for the Eastern District of California dismissed the lawsuit filed by the Howard Jarvis Taxpayers Association (HJTA) maintaining that CalSavers, California’s mandated auto-enrollment payroll deduction IRA retirement savings program, is preempted by ERISA. The court found that HJTA had standing to bring the suit and that
Meter Expiring On Important Election Regarding Tax Consequences Of Reserved Employee Parking
As a result of the 2017 Tax Act, the costs of providing qualified parking to employees as a tax-free fringe benefit is not deductible by for-profit employers and is subject to a 21% tax for tax exempt organization employers. Interim guidance provided by the Internal Revenue Service in Notice 2018-99 in December sets forth a
Reminder: Qualified and Nonqualified Plans Must Be Amended for New Disability Claims Procedures
The U.S. Department of Labor’s final disability claims procedures became effective for disability claims filed after April 1, 2018. See No Fooling: New Disability Claims Procedures are Effective April 1, 2018. Any qualified or nonqualified retirement or deferred compensation plan governed
Presidential Order Signals Relaxing of Restrictions on Open Multiple Employer Plans
On August 31, 2018, President Trump signed an Executive Order directing the Labor Department to consider issuing regulations and guidance that would make it easier for businesses to join together in Association Retirement Plans also known as open multiple employer
Suit Claims CalSavers is Preempted by ERISA
For the past year or so, I have been speaking and writing about the California Secure Choice Law authorizing the State’s mandatory payroll deduction IRA program named CalSavers (“Program”). When implemented, the Program will require private employers who don’t otherwise offer employees a retirement plan to automatically enroll their employees and withhold and contribute to
Documents! Documents! Documents!
Most employee benefits require a written plan document setting forth the terms of the plan. ERISA requires that every employee benefit plan be established and maintained pursuant to a written instrument. In addition, the Internal Revenue Code also requires many employee benefits be pursuant to a written plan. For example, cafeteria plans must be in
No Fooling: New Disability Claims Procedures are Effective April 1, 2018
The U.S. Department of Labor’s final disability claims procedures become effective for disability claims filed after April 1, 2018. The purpose of the new procedures is to ensure full and fair claims review procedures for any determination of disability in line with protections for certain group health plans under the Affordable Care Act. This means