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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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In Case You Missed It – Key 2021 Employee Benefits Topics
This year is off to a fast start and plan sponsors might find their heads spinning as they try to keep track of rapidly developing employee benefits legislation and guidance. We periodically consolidate key newsletters and blog posts to help … Continue reading
Posted in Employee Benefits, Executive Compensation, Health & Welfare Plans, Health Care Reform, Qualified Retirement Plans
| Tagged COBRA, Consolidated Appropriations Act, multiemployer plan, wellness program
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Can’t Touch This: IRS Extends Physical Presence Relief for Remote Notarization
On December 23, 2020, the IRS issued Notice 2021-03, which extends relief from the “physical presence” requirement applicable to signatures that must be witnessed by a plan representative or notary public. By way of background, Treasury Regulations Section 1.401(a)-21(d)(6)(i) provides … Continue reading
Posted in Employee Benefits
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‘Tis the Season: Four Year-End Employee Benefit Plan Checklists
Each year, we publish health and welfare, cost-of-living, executive compensation, and qualified retirement plan checklists to help individuals and employers stay apprised of updates to the law of employee benefits. We recently published the last of these annual checklists. In … Continue reading
Posted in Employee Benefits, Executive Compensation, Health & Welfare Plans, Health Care Reform, Qualified Retirement Plans
| Tagged COLA, cost-of-living, Executive Compensation, health and welfare, qualified plans, year end checklist
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IRS Confirms Major Disaster Leave-Sharing Program Use for COVID-19 Pandemic
On August 3, 2020, the IRS posted a short set of frequently asked questions for leave-sharing programs which confirm that major disaster leave-sharing programs under IRS Notice 2006-59 can be used for employees who have been adversely affected by the … Continue reading
Posted in Employee Benefits
| Tagged covid-19, IRS, leave donation, leave sharing, major disaster
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IRS Approves Additional Leave-Based Donation Programs for COVID-19 Relief
We previously posted about two leave-sharing programs available to employers during the COVID-19 pandemic: major disaster leave-sharing programs and medical emergency leave-sharing programs. These leave-sharing programs may allow employees to donate paid leave to co-workers affected by COVID-19. When properly … Continue reading
Posted in Employee Benefits, Health & Welfare Plans
| Tagged 2020-46, IRS, leave, leave donation, leave sharing, sick leave, tax
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Department of Labor Issues Final Electronic Disclosure Rule
On May 21, 2020, the Department of Labor (the “DOL”) announced a final rule establishing a new electronic disclosure safe harbor. The new safe harbor permits retirement plan administrators to deliver certain plan documents by one of two methods: (1) … Continue reading
Posted in Employee Benefits, Qualified Retirement Plans
| Tagged DOL, electronic disclosure, internet availability, NOIA, paper notice, plan administrator, safe harbor
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COVID-19-Related Cancellations of NQDC Elections
As a general matter, deferral elections under non-qualified deferred compensation plans (“NQDCs”) cannot be cancelled unless a NQDC plan participant incurs an “unforeseeable emergency” or “disability” as each such term is defined in Section 409A of the Internal Revenue Code. … Continue reading
Posted in Executive Compensation
| Tagged CARES Act, covid-19, elections, furlough, lay off, nonqualified deferred compensation, nqdc, reduction in hours
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CARES Act Enables Employers to Assist with Student Loan Repayments
The Coronavirus Aid Relief and Economic Security Act (the “CARES Act”), signed into law on March 27, 2020, provides employers with a new mechanism to assist their employees with repayment of student loans. Section 2206 of the CARES Act amends … Continue reading
Posted in Employee Benefits, Health & Welfare Plans
| Tagged CARES Act, covid-19, educational assistance, Section 127, Section 2206, Student Loans
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Two Leave-Sharing Program Options for Employers During the COVID-19 Pandemic
As employers cope with the COVID-19 pandemic, they may consider leave-sharing programs as a method to permit employees to donate paid leave to their coworkers. Leave-sharing programs that are properly structured under Internal Revenue Service (“IRS”) guidance permit exclusion of … Continue reading
Posted in Employee Benefits, Health & Welfare Plans, Health Care Reform
| Tagged covid-19, leave sharing, major disaster, stafford act
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IRS Continues to Extend Key Filing Deadlines in Response to COVID-19
On April 9. 2020, the Internal Revenue Service (the “IRS”) issued Notice 2020-23, which extends a number of key filing deadlines in the wake of the COVID-19 pandemic. The guidance provides welcome relief to individuals and plan sponsors who must … Continue reading
Posted in Employee Benefits, Executive Compensation, Qualified Retirement Plans
| Tagged 5500 deadline, form 990, notice 2020-23, Section 83(b) election
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