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Will American Rescue Plan Act Multiemployer Pension Provisions Bring Relief to Employers?

The American Rescue Plan Act of 2021 includes a modified version of the Butch Lewis Act, referred to as the Emergency Pension Plan Relief Act of 2021 (EPPRA), which restores to financial health more than 100 failing multiemployer pension plans. However, the measure falls well short of any meaningful long-term funding reform.  More…… Continue Reading
March 15, 2021

American Rescue Plan Act Extensions, Changes to Select Tax Credit, Compensation Deduction Provisions

The American Rescue Plan Act of 2021 expands upon some popular tax credit provisions and makes other changes to a key tax provision regarding compensation deduction limitations. These changes are summarized below.   More…… Continue Reading
March 15, 2021

American Rescue Plan Act of 2021: COBRA Subsidy, Pension Funding, and Other Employee Benefit Changes

The American Rescue Plan Act of 2021 (ARPA) is the latest federal COVID-19 relief bill, which the President signed into law March 11, 2021. ARPA includes new COBRA continuation coverage election, notice, and subsidy requirements; pension plan funding relief; and some cost-saving benefit opportunities employees may be able to leverage.  Some of these changes are...… Continue Reading
March 11, 2021

Second Circuit: Investment Advisor Not Covered by Plaintiff’s Employment Arbitration Agreement

The U.S. Court of Appeals for the Second Circuit recently concluded that investment advisor Ruane Cunniff & Goldfarb must face a proposed class action under ERISA Section 502(a)(2) for breach of fiduciary duty relating to its alleged mismanagement of a profit-sharing plan sponsored by DST Systems, Inc.  Cooper v. Ruane Cunniff & Goldfarb Inc., No....… Continue Reading
March 7, 2021

COVID-19 Deadline Extensions—No More Time Outs but No Single Deadline Either!!

We recently provided an update on the looming end date for COBRA and other deadline extensions and the uncertainty that continues to add to the administrative burdens without more clarity from the DOL and IRS.  Message received, apparently. On behalf of the IRS, the DOL has now released Disaster Relief Notice 2021-01 that attempts to...… Continue Reading
February 26, 2021

Is Relief for the Plight of Multiemployer Pension Plans in the Works?

I – Overview of the Butch Lewis Emergency Pension Plan Relief Act The much-heralded Butch Lewis Emergency Pension Plan Relief Act of 2021 (the “Butch Lewis Act of 2021”) is closer to becoming a reality as part of the COVID-19 relief bill, which is set for a vote in the House of Representatives on February...… Continue Reading
February 25, 2021

COVID-19 Deadline Extensions—Still Relevant to Plan Sponsors?

In May of 2020, the Department of Labor (DOL) and Internal Revenue Service (IRS) released joint-agency guidance that extended several important deadlines for employees, including COBRA election and payment deadlines, HIPAA Special Enrollment deadlines, and claims submission and appeal deadlines.  Under the guidance, plan administrators were required to extend the deadlines that would otherwise apply...… Continue Reading
February 25, 2021

TOP 5 EMPLOYEE BENEFIT PLAN OPPORTUNITIES FOR EMPLOYERS TO CONSIDER IN 2021

A spate of recent legislation and IRS guidance promises to make 2021 an active year for any employer seeking to provide its employees with a competitive array of employee benefits.  My “top 5” list of employee benefits that an employer should introduce or enhance in 2021, to improve retention and/or recruitment, is set forth below:...… Continue Reading
February 17, 2021

U.S. Supreme Court: Courts Can Review Railroad Retirement Board’s Refusal to Reopen Claims

In a 5-4 decision, the U.S. Supreme Court has ruled that federal courts can review decisions by the U.S. Railroad Retirement Board denying claimants’ requests to reopen prior benefits denials. Salinas v. U.S. R.R. Ret. Bd., No. 19-199 (Feb. 3, 2021). Justice Sonia Sotomayor, writing for the majority, explained the relevant provision of the Railroad...… Continue Reading
February 7, 2021

What Took So Long? Democrats Quickly Introduce Pension Relief Bill

House Ways and Means Committee Chairman Richard Neal (D-Mass.) introduced the Emergency Pension Plan Relief Act of 2021 (EPPRA) on January 21, 2021. EPPRA represents the latest legislative attempt to address the well-documented multiemployer pension crisis. EPPRA is significant in that it is the first legislation introduced by Chairman Neal under the Biden administration, signaling a possible...… Continue Reading
January 24, 2021

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