SEARCH

Quick Facts: The Employee Benefits Security Administration (EBSA) today issued new model notices that plans may use to provide the required general and election notices under the Consolidated Omnibus Budget Reconciliation Act of 1985 (COBRA). The new model notices contain more detail regarding how COBRA interacts with Medicare. The EBSA also released new FAQs to address the interplay between COBRA and Medicare. Employers who have developed their own COBRA notices based on the existing EBSA templates should update their notices to incorporate the latest details regarding COBRA and Medicare. The U.S. Department of Labor’s Employee Benefits Security Administration …

… what they need to do with the poster. The FAQs have been updated to include reference to the updated poster, and are summarized below. Where do I post this notice? Since most of my workforce is teleworking, where do I electronically “post” this notice? Each covered employer must post a notice of the Families First Coronavirus Response Act (FFCRA) requirements in a conspicuous place on its premises. An employer may satisfy this requirement by emailing or direct mailing this notice to employees, or posting this notice on an employee information internal or external website. Do I have to post this

… 15, 2020. In turn, the IRS extended the standard deadline for contributions to HSAs. The FAQs also clarify that individuals have until July 15, 2020 to withdraw excess HSA contribution amounts (and any interest or income on the excess amounts) to avoid the 6% excise tax on excess contributions. EPIC Employee Benefits Compliance Services For further information on this or any other topics, please contact your EPIC consulting team. Learn About Our Employee Benefits Compliance Services EPIC offers this material for general information only. EPIC does not intend this material to be, nor may any person receiving this information construe …

Quick Facts: The IRS and the DOL recently announced limited, automatic extended deadlines for filing Forms 5500 and M-1 due to the COVID-19 National Emergency. The relief applies to filings due on or after April 1, 2020, and before July 15, 2020, including due dates for extensions falling within those dates. The limited extension window does not apply to Forms 5500 for 2019 calendar year plans, which have a standard due date of July 31, 2020. Calendar-year plans may still request a Form 5500 filing extension by submitting Form 5558 to the IRS. The Internal Revenue Service …

The Employee Benefits Security Administration (EBSA) has issued Disaster Relief Notice 2020-01 (Notice) in which it declared that employee benefit plans, employers, plan sponsors, plan fiduciaries, plan service providers, participants, beneficiaries and employees will have additional time to perform certain time-sensitive plan actions due to the impact of the COVID-19 pandemic. The Notice provides relief for a period beginning March 1, 2020, and ending 60 days after the officially announced end of the COVID-19 National Emergency (Outbreak Period) or such other date announced by the Department of Labor (DOL) in a future notice. The Department of …