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Suzanne G. OdomBlog Posts

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  • About That Pension Check… A Miscalculation Case With Broader Implications

    The Ninth Circuit Court of Appeals recently addressed several issues of first impression in Bafford v. Northrop Grumman (9th Cir. April 15, 2021), a lawsuit involving retirees who received vastly overstated pension benefit estimates from the plan’s recordkeeper reminds employers of the importance of careful administration.   The case highlights the need to ensure that electronic recordkeeping... Continue Reading
    April 25, 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
  • Consolidated Appropriations Act, 2021: Top Practical Considerations on FSA, Election Change Relief

    The Consolidated Appropriations Act, 2021 (Act) provides certain COVID-19-related relief, including temporary additional flexibility regarding flexible spending accounts (FSAs). Employers have several practical considerations when deciding whether to adopt one or more of the changes in their plans. Under the FSA changes, employees need not lose the benefit of the dollars they set aside from their... Continue Reading…
    January 11, 2021
  • Consolidated Appropriations Act, 2021: Top Practical Considerations on FSA, Election Change Relief

    The Consolidated Appropriations Act, 2021 (Act) provides certain COVID-19-related relief, including temporary additional flexibility regarding flexible spending accounts (FSAs). Employers have several practical considerations when deciding whether to adopt one or more of the changes in their plans. Under the FSA changes, employees need not lose the benefit of the dollars they set aside from their...… Continue Reading
    January 11, 2021
  • Consolidated Appropriations Act, 2021: Employer-Sponsored Retirement Plans

    The Consolidated Appropriations Act, 2021 generally provides the annual funding for the federal government and also contains several important rules giving further COVID-19 relief. The comprehensive relief package funds certain hard-hit industries, expands eligibility for the Paycheck Protection Program (PPP), and extends and expands the Employee Retention Tax Credit. The Act also relaxes several normally... Continue Reading…
    December 28, 2020
  • Consolidated Appropriations Act, 2021: Employer-Sponsored Retirement Plans

    The Consolidated Appropriations Act, 2021 generally provides the annual funding for the federal government and also contains several important rules giving further COVID-19 relief. The comprehensive relief package funds certain hard-hit industries, expands eligibility for the Paycheck Protection Program (PPP), and extends and expands the Employee Retention Tax Credit. The Act also relaxes several normally...… Continue Reading
    December 28, 2020
  • IRS Expands and Clarifies CARES Act Distribution Rules

    Since March 27, 2020 when the CARES Act was signed into law, many questions have mounted related to implementing the retirement plan provisions.  Now, with roughly 3 months under our belts since the issuance of the Act and countless CARES Act distributions and loan suspensions processed, the IRS clarified several eligibility, administrative, and taxation reporting...… Continue Reading
    June 25, 2020
  • IRS Expands and Clarifies CARES Act Distribution Rules

    Since March 27, 2020 when the CARES Act was signed into law, many questions have mounted related to implementing the retirement plan provisions.  Now, with roughly 3 months under our belts since the issuance of the Act and countless CARES Act distributions and loan suspensions processed, the IRS clarified several eligibility, administrative, and taxation reporting... Continue Reading…
    June 25, 2020
  • IRS Issues Proposed Regulations for Tax-Exempt Organizations Paying Excess Executive Compensation

    The IRS issued proposed regulations under Section 4960 of the Internal Revenue Code of 1986, as amended (the “Code”), which was added as part of the Tax Cuts and Jobs Act.   The proposed regulations published in the Federal Register on June 11, 2020, largely follow the IRS interim guidance under IRS Notice 2019-09. However, the...… Continue Reading
    June 22, 2020
  • COBRA Compliance Through a COVID-19 Lens

    Over the last few weeks, we have seen significant changes affecting COBRA compliance. Employers should contact their COBRA administrators to discuss the best practices in light of these developments, which include the Department of Labor’s publication of new model COBRA notices and COVID-19 notice and premium payment extensions.  We have a helpful article that discusses... Continue Reading…
    June 1, 2020

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