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Congress Giveth and They Taketh Away — Recent Health Plan Changes

In enacting the Further Consolidated Appropriations Act, 2020, (the “Act”), Congress, among other changes, enacted the following key changes affecting employer group health plans: Repeal of the Cadillac Tax:  Most notably, and a huge relief to most employers, Congress repealed the Cadillac tax.   The Affordable Care Act (“ACA”) added a requirement requiring employers to pay […]

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Will the ACA Stay or Will it Go?

After surviving two Supreme Court cases and numerous repeal efforts, the Affordable Care Act (“ACA”) is in jeopardy again. Despite the law’s uncertainty, employers may want to continue their compliance efforts because: (1) the ACA is currently the law and there are significant penalties for noncompliance; and (2) for the reasons stated below complete repeal […]

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Five Lawsuits Filed Against DOL’s Fiduciary Rule (so far)

As we previously discussed in our May 19, 2016 SW Benefits Update, the Department of Labor (“DOL”) recently issued final regulations on fiduciary conflicts of interest in retirement programs.  Since 2010 when the DOL first proposed regulations addressing self-interested advice to retirement plan and IRA participants, the rule has been widely criticized by some in […]

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Harkin Unveils USA Retirement Funds Act

Senator Tom Harkin (D-IA) recently unveiled his plan to improve the private retirement system.  Senator Harkin’s proposal was the third recent proposal targeting retirement plan savings.  President Obama introduced his myRA program during the State of the Union address and Senator Susan Collins (R-ME) and Senator Bill Nelson (D-FL) introduced the Retirement Security Act of […]

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Obama Administration Announces Plan for “Starter” Retirement Accounts

In his State of the Union address on January 28, President Obama announced that he will use his executive authority to direct the Treasury Department to create “myRA”, a starter retirement savings account program. According to White House Fact Sheet, a myRA will be available to individuals who do not have access to workplace retirement […]

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