November 12, 2019

Announcements | View All

Podcast 63: DOL Proposes New Electronic Disclosure Safe Harbor

In a welcome turn of events, the DOL has proposed a new rule that would allow for electronic disclosure of many retirement plan documents. Beth Allen and Carol Wood discuss the proposed rule — beginning with how the DOL got to this point, explaining the details of the rule, and highlighting the rule’s limited application. Ultimately, the discussion will give retirement plan sponsors a better idea of how they may be able to distribute documents, should this rule be adopted.

Every other week, NFP's legal experts make the subject of compliance personal for a wide audience. By breaking down the daunting details of emerging policies and bridging the gap between legislation and what it means for the listener, Chase Cannon and Suzanne Spradley make compliance issues relatable and relevant. Visit our Soundcloud page every two weeks for the most up-to-date episode.

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November Get Wise Wednesdays Webinar – Register Now

NFP's Benefits Compliance team is hosting its next webinar on November 20, 2019, from 2:00 to 3:00 p.m. CT (3:00 to 4:00 p.m. ET). The topic is "You’re Never Too Small to Be In Compliance."

Can't make a live webinar? A recording of each session will be posted to the NFP Client Learning Portal within 48 hours of the live webinar. Those listening to a recorded webinar aren't eligible for recertification credit.

The moderator will answer as many questions as possible during the webinar. If your question isn't answered by the end of the webinar, reach out to your advisor for assistance.

You’re Never Too Small to Be In Compliance
November 20, 2019

Register Now »
 

All programs are pending approval for 1.0 (general) recertification credit hour toward PHR, SPHR and GPHR recertification through the HR Certification Institute. For more information about certification or recertification, visit the HR Certification Institute website at www.hrci.org.

New White Paper Now Available: Domestic Partner Benefit Considerations

NFP Benefits Compliance is excited to announce the availability of a new white paper: Domestic Partner Benefits Considerations. This new resource provides detailed information about how domestic partnerships impact a wide range of employee benefits programs, including state-mandated leave of absence benefits, health coverage plans, health FSAs, HSAs, and many other common employee benefits. The new white paper can serve as a toolkit for all domestic partner benefit and leave considerations.

The paper includes a detailed discussion on (and methods for calculating) imputed income — the requirement to include in the employee’s gross income the value of non-tax-dependent coverage (most domestic partners are not considered tax dependents of the employee). The paper also includes a discussion on leave considerations, which is an increasingly relevant issue with states enacting paid family and medical leave laws that allow employees to take paid leave to care for family members, most often including domestic partners. Employers operating in such states will have to develop leave policies and administrative practices relating to employees with domestic partners.

The white paper includes two helpful appendices:

  • Appendix A, NFP Model Certification of Family Relationships, provides detailed guidelines for recognizing domestic partners and other family member relationships for all types of employee benefits, including state leave laws.
  • Appendix B, Calculating and Processing Domestic Partner Cost of Coverage Imputed Income, provides detailed information about accepted methods for administering the tax consequences of domestic partner health coverage.

Please contact your advisor for a copy.

Now Available: Employee Benefits Annual Limits White Paper (Updated for 2020)

The NFP Benefits Compliance team has recently updated the "Employee Benefits Annual Limits" white paper to reflect 2020 adjustments. This document includes revised limits on HSA contributions, qualified HDHPs, health FSAs, qualified transportation benefits, retirement plans, QSEHRAs, and several additional limits.

Employers may want to review these limits and make any necessary adjustments to plan documents and communications. Please contact your advisor for a copy of the updated white paper.