January 15, 2020

2020 Penalty Amounts for ERISA Health and Welfare and 401(k) Plans

To adjust for annual inflation, the Department of Labor (DOL) published the 2020 civil monetary penaltis for certain violations of health and retirement plans subject to the Employee Retirement Income Security Act (ERISA). The DOL must annually adjust these amounts no later than January 15 of each year. The updated penalties for 401(k) and health… Continue Reading

January 10, 2020

Loss of Unencrypted Laptop Leads to $65,000 HIPAA Settlement

The last major settlement of 2019 regarding violations of the Health Insurance Portability and Accountability Act (HIPAA) may not have been the largest penalty of the year; but it nonetheless demonstrates the importance of compliance with HIPAA. On December 30, 2019, the Office for Civil Rights (OCR) at the U.S. Department of Health and Human… Continue Reading

January 7, 2020

How Will The SECURE Act Affect Me? Hightlights of Some of the Top New Provisions Affecting 401(k) Plans (PART ONE)

Passed by Congress and signed into law at the midnight hour as part of the 2019 comprehensive budget appropriation package, the Setting Every Community Up for Retirement Enhancement (“SECURE”) Act is now the law of the land. In our previous blog, we listed and discussed in a very general way many of the SECURE Act’s… Continue Reading

December 31, 2019

PCORI Fee Gets 10-Year Extension

The Cadillac Tax is officially out – but the PCORI Fee is here to stay for another decade. On December 20, 2019, President Trump signed into law H.R. 1865, the “Further Consolidated Appropriations Act, 2020.” This $1.4 Trillion spending legislation included the Setting Every Community Up for Retirement Enhancement Act of 2019 (SECURE Act), which… Continue Reading

December 27, 2019

Cadillac Tax Officially Repealed

On December 20, 2019, the Cadillac Tax was officially repealed on December 20, 2019, as part of the Further Consolidated Appropriations Act, 2020. The Cadillac Tax was intended to be a major revenue-raising source of the Affordable Care Act (ACA). Employer-sponsored health benefits whose value exceeded legally specified thresholds would have been subject to a… Continue Reading

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