Insights

On May 20, 2022, the IRS, DOL and PBGC (the agencies) released a final rule announcing changes to the Form 5500 and Form 5500-SF and related instructions. These changes will go into effect for the 2022 annual reports. (Remember that Forms 5500 are due by the end of the seventh month after the end of the plan year.) The changes to the forms and instructions mostly implement annual reporting changes for defined benefit plans. Specifically, the agencies are adding new questions and revising exist

Employers are increasingly choosing to offer fertility benefits to employees. However, it is important to ensure that such a benefit offering is properly structured. To the extent the fertility benefits program provides medical care, it would generally be considered a group health plan and thus subject to the ACA, ERISA, COBRA and other laws. 'Medical care' for this purpose is broadly defined to include amounts paid for 'the diagnosis, cure, mitigation, treatment or prevention of disease, or fo

Vermont's crime victim leave law requires employers to provide unpaid job protected leave for eligible employees to attend a deposition or court processing related to a criminal processing when an employee is an alleged victim. Employees who have been continuously employed for at least six months for an average of at least 20 hours per week and who are the victims of crimes are eligible to take the leave. The eligible employees are allowed to use accrued sick, vacation, and other paid time off

On May 25, 2022, the Department of Labor's (DOL) Wage and Hour Division released a Fact Sheet and series of FAQs on FMLA leaves taken for mental health-related reasons. The new guidance does not change existing law. Rather, it serves to emphasize that mental health conditions should not be treated any differently than physical health conditions in FMLA administration. Under FMLA, eligible employees working for covered employers may take job- and benefits-protected unpaid leave for their own se

Recently, Gov. Ivey signed Senate Bill 31, the 'Adoption Promotion Act,' into law. The act, which takes effect July 1, 2022, allows eligible employees to take up to 12 weeks of parental leave to care for and bond with a newborn or newly placed adopted child. The act applies to covered employers and eligible employees under the FMLA. Accordingly, employers who employ 50 or more employees within 75 miles must comply. Employees are eligible after having been employed by the employer for at least

On May 26, 2022, Gov. Pritzker signed two bills into law to increase health insurance protections and access for Illinois consumers, building on existing protections under the federal No Surprises Act. For more information on the federal No Surprises Act and the interim final rules. First, HB 4703 (effective July 1, 2022) grants the Illinois Department of Insurance (IL DOI) additional authority to assist consumers who were billed at out-of-network rates after receiving care they believed was in

The IRS recently updated its descriptions of the tax rules applicable to the employer-provided parking benefit. Employer paid parking that is a 'qualified transportation fringe' (QTF) is excluded from employees' gross income up to the statutory limit (e.g., $280 per month in 2022) under IRC Code Section 132(f). A QTF includes qualified parking, which is on or near the employer's business premises or at a location from which the employee commutes to work by mass transit facilities, commuter high

On May 25, 2022, the IRS announced that it will revise Form 5300, Application for Determination for Employee Benefit Plan, and its instructions. The revisions will allow plans to submit the form electronically. Form 5300 is used to request a determination letter from the IRS for the initial qualification of a defined benefit or a defined contribution plan and the exempt status of any related trust. Starting on June 1, 2022, the form can be submitted electronically via Pay.gov, along with a sin

The Oregon Employment Department has recently announced that the contribution rate for the state's paid family and medical leave program (a.k.a., 'Paid Leave Oregon') will be at 1% when contributions begin in 2023. As a reminder, starting January 1, 2023, employees in Oregon will contribute 60% through payroll withholding, and employers will contribute 40% of the combined contribution rate of 1% of employee wages up to the annual maximum of $132,900. Employers with fewer than 25 employees are