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About this Blog
Welcome to the Snell & Wilmer Benefits Blog. We will be posting about current employee benefits and executive compensation topics and issues. We invite you to contact the authors with your thoughts or questions.Blog Contributors
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The IRS Significantly Increased the Availability of Mid-Year Changes to Safe Harbor Plans
Mid-year changes to safe harbor 401(k) plans have long been thought to be available in only very limited circumstances. However, the IRS recently released guidance in Notice 2016-16 that significantly increases the scope of permissible mid-year changes to safe harbor … Continue reading
Posted in Employee Benefits, Qualified Retirement Plans
| Tagged 401(k) plan, IRS, mid-year amendment, mid-year change, safe harbor, safe harbor 401(k) plan
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IRS Announces 2016 Retirement Plan Dollar Limits
The IRS recently announced cost of living adjustments for 2016. In general, the dollar limitations for retirement plans remained the same. The key dollar amounts are noted below, all of which remain unchanged from 2015. Maximum Qualified Retirement Plan Dollar Limits 2015/2016 … Continue reading
Posted in Employee Benefits, Qualified Retirement Plans
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The IRS Takes Aim at De-Risking of Defined Benefit Plans
Many defined benefit plan sponsors are looking for ways to reduce the on-going liability and the volatility of the annually required contributions to their defined benefit plans, which is sometimes referred to as “de-risking.” One de-risking strategy involves offering lump-sum … Continue reading
Posted in Employee Benefits, Qualified Retirement Plans
| Tagged annuity payment, de-risking, defined benefit plans, IRS, lump-sum payment, Section 401(a)(9)
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Obergefell v. Hodges – Same-Sex Marriage Now Legal in All 50 States
In 2013, the Supreme Court, in United States v. Windsor, struck down Section 3 of the Defense of Marriage Act (“DOMA”) which defined marriage, for Federal purposes, as between one man and one woman. The Windsor ruling resulted in numerous … Continue reading
Posted in Employee Benefits, Health & Welfare Plans, Qualified Retirement Plans
| Tagged DOMA, domestic partner benefits, obergefell v. hodges, same-sex marriage, Supreme Court, United States v. Windsor
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State of Celebration Standard Now in Effect for FMLA
In a previous blog, I wrote about regulations issued by the Department of Labor (“DOL”) proposing to revise the regulatory definition of “spouse” under the Family and Medical Leave Act (“FMLA”) to be based on the law of the place … Continue reading
Posted in Employee Benefits
| Tagged DOL, FMLA, same-sex marriage, spouse, United States v. Windsor
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Proposed Regulations for Summary of Benefits and Coverage Seek to Simplify Compliance
As part of Health Care Reform, employers and insurers are required to provide group health plan participants with a Summary of Benefits and Coverage (“SBC”) describing the important features of the group health plan option(s) offered by the employer/insurer. The … Continue reading
Posted in Employee Benefits, Health & Welfare Plans, Health Care Reform
| Tagged Affordable Care Act, group health plan, health care reform, proposed regulations, SBC, summary of benefits and coverage
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Accurate Documentation of Welfare Plans May Save Employers Certain Costs and Headaches Down the Road
ERISA requires all pension and welfare benefit plans to be maintained in a written plan document. The DOL and several courts have taken a broad view of what constitutes a “written plan document,” and while pension plans are usually very … Continue reading
Posted in Employee Benefits, Health & Welfare Plans
| Tagged health plans, plan documents, welfare plans
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Pre-Approved Plan Sponsors are Starting to Contact Adopting Employers
Many employers adopt defined contribution retirement plans that have been pre-approved by the IRS. Plan sponsors of pre-approved plans submit the plans to the IRS to obtain approval of whether the form of the plan meets the requirements of Internal … Continue reading
Posted in Employee Benefits, Qualified Retirement Plans
| Tagged IRS, master and prototype plans, pre-approved plans, qualified retirement plans, retirement plans, volume submitter plans
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FMLA to Apply to All Employees in Same-Sex Marriages
When the U.S. Supreme Court declared DOMA unconstitutional in United States v. Windsor, many federal benefits that were previously denied to individuals in same-sex marriages became available to those individuals. However, job-protected leave under the Family and Medical Leave Act … Continue reading
Posted in Employee Benefits
| Tagged DOL, DOMA, FMLA, proposed regulations, same-sex marriage
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Complying with the Windsor Decision: Mid-Year Amendment for Safe-Harbor 401(k) Plans
Previously, the IRS issued guidance on what employers need to do in order to comply with the United States v. Windsor decision. The guidance insturcts employers on how and when to amend a qualified retirement plan if its current terms regarding marriage and … Continue reading
Posted in Employee Benefits, Qualified Retirement Plans
| Tagged 401k) plans, DOMA, IRS, qualified retirement plans, safe-harbor plans, same-sex marriage, United States v. Windsor
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