Insights

On April 13, 2024, the IRS released a set of FAQs concerning the tax treatment of work-life referral (WLR) services that employers may provide to employees. The FAQs establish that WLR services are a de minimis fringe benefit excluded from an employee’s gross income and from the employer’s employment taxes. The FAQs define WLR services as “informational and referral consultations that assist employees with identifying, contacting, and negotiating with life-management resources for solutions to

On April 16, 2024, the DOL issued a request for public comment on its proposal to create a database to allow individuals to locate former retirement plan information. This searchable database would help implement the requirement under the SECURE 2.0 Act to more easily allow individuals to obtain plan administrator contact information. Prior DOL initiatives under the existing Terminated Vested Participants Project (TVPP) for defined benefit pension plans indicate retirement plan administrators o

In response to a request by Congress, the Government Accountability Office (GAO) recently released a report focusing on state regulation of PBMs serving private health plans. Among other things, the report describes actions selected states have taken to regulate PBMs and the views of various stakeholders regarding such state regulation. As cited in the report, retail prescription drug spending by private health plans in the US totaled nearly $152 billion in 2021 — almost 13% of total private he

The IRS recently issued Notice 2024-35, which updates and extends the transition relief provided in Notice 2023-54, which addressed changes made by the SECURE Act and the SECURE 2.0 Act in required minimum distribution (RMD) requirements for qualified plans such as 401(k) plans, IRAs, Roth IRAs, 403(b) plans, and 457(d) eligible deferred compensation plans. (For further information on prior Notice 2023-54, please see our August 1, 2023, Compliance Corner article.) The SECURE Act originally incr

At a high-level, STD, LTD, and salary continuations (collectively, STD/LTD) are employer-sponsored plans provided to employees to pay partial wage replacement for an employee’s non-work-related disability or serious health condition for a specific time period.   However, STD/LTD plans alone do not entitle employees to continuation of health coverage. Instead, depending on an employer’s group size, some of the federal and state laws grant protected leave entitlements to employees with continuati

As more states enact various paid family medical leave (PFML), paid family leave and disability insurance laws, complying with each state’s PFML mandate and administering the overall leave policy is particularly challenging for multistate employers. In this webinar, we discussed several state PFML programs and how those programs interact with employer leave policies in addition to state and federal leave laws. Our Benefits Compliance team collaborated with NFP’s Human Capital Solutions team to

In an ever-evolving professional landscape, the concept of working from home has transitioned from a rare privilege to a widespread reality. Whether you're a seasoned remote worker seeking to enhance your productivity, a manager aiming to optimize your team's performance, or someone new to the world of telecommuting, our comprehensive set of work-from-home guides is here to provide you with the knowledge and tools you need to thrive in this dynamic environment. From establishing an efficient ho

For real estate professionals who want to maximize value for their clients, environmental insurance is a vital tool in commercial transactions.

In the fast-paced and competitive landscape of today's business world, organizations face numerous challenges in attracting, retaining, and motivating top talent.