Author: George Kasper

Fiduciary Rule Update – SEC to Consider Broker Dealer and Investment Adviser Standards

The SEC has announced it will hold a public meeting on Wednesday, April 18 at 3:30 p.m. to discuss possible standards for broker-dealers and investment advisers when dealing with retail investors (e.g., small retirement plans, their participants, and IRA owners), signaling that it will consider a new fiduciary standard of conduct and related rules.  At…

Read more

House Passes Small Business Healthcare Relief Act

Despite repeated guidance from the IRS that employer payment plans violate insurance reforms under the Affordable Care Act (the “ACA”), many small employers continue this arrangement of reimbursing employees for their cost of health insurance purchased on the individual market. Under current law, employers who do not sponsor a group health plan but instead reimburse…

Read more

Deadline Extended For ACA Information Reporting Forms

The IRS has extended the deadlines for furnishing to employees the new Forms 1095 and filing these Forms with the IRS.  The Forms are designed to confirm compliance with the employer and individual health insurance mandates under the Affordable Care Act.  IRS Notice 2016-4 provides the following new deadlines: Furnishing to Employees: 2015 Forms 1095-B, Health Coverage…

Read more

ACA Update: Cadillac Tax Postponed!

The budget and tax package passed by Congress on December 18, 2015, and signed by the President, includes a two-year delay of the controversial excise tax on high-value health plans (a.k.a., the Cadillac Tax), part of the Affordable Care Act (ACA). Here is what its delay means for employers:   The Cadillac tax was slated to begin…

Read more

Many Employee Retirement Plan Dollar Limits Adjusted For 2014

The Internal Revenue Code provides for various dollar limitations on benefits, contributions, and compensation for tax-qualified employee benefit plans.  Recently, the Internal Revenue Service announced cost of living adjustments (COLAs) for 2014, including limits relating to 401(k) and other tax-qualified retirement plans.  Some dollar limits such as the salary deferral contribution limit to 401(k) plans…

Read more