Get Ready, Get Set, to Cover COVID-19 Vaccines for Free

Last month, we reported that Moderna was seeking FDA authorization for its COVID-19 vaccine and reminded readers about the immunization coverage requirements in Section 3202 of the CARES Act in our SW Benefits Blog, “Free COVID-19 Vaccine and Testing Update.”  As of the date of this blog, the Moderna and Pfizer-BioNTech COVID-19 vaccines have been approved and group health plans must act quickly to meet the requirements of the CARES Act.

On October 28, 2020, HHS, DOL, and the Treasury issued interim final rules (the “new regulations”) about the COVID-19 immunization coverage requirements.  The new regulations generally took effect November 2, 2020 and are effective until the end of the COVID-19 public health emergency declared by HHS.  Read More ›

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Is Your Safe Harbor Section 401(k) Plan Required to Provide an Annual Notice?

Sponsors of safe harbor Section 401(k) plans should consider whether they are required to provide their annual safe harbor notice in 2020 for the upcoming 2021 plan year.  The Setting Every Community Up for Retirement (“SECURE”) Act, which was enacted on December 20, 2019, changed the annual notice requirements for some safe harbor Section 401(k) plans.

Prior to the SECURE Act, safe harbor Section 401(k) plans were required to meet certain annual notice requirements regardless of whether they relied on matching or nonelective contributions to satisfy the safe harbor requirement.  The Internal Revenue Code requires that this annual safe harbor notice be provided to participants within a reasonable period before the beginning of the plan year.  Read More ›

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New Year, New Age: the SECURE Act Increases the Required Minimum Distribution Age to 72

On December 20, 2019, President Trump signed the Further Consolidated Appropriations Act, 2020, a spending bill that includes the Setting Every Community Up for Retirement Enhancement Act of 2019 (the “SECURE Act”).  The SECURE Act initially passed the House in May, as discussed in our S&W Benefits Blog “The SECURE Act – A Primer on the top Six SECURE Act Changes that could be coming to Retirement Plans Next Year”, but fizzled out in the Senate.  The SECURE Act was later added to the Further Consolidated Appropriations Act, 2020, which passed Congress and was sent to the White House on December 19. Read More ›

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