CARES Act 2020: Paycheck Protection Loans as Funding for Defined Benefit Pension Plans Sponsored by Small Businesses

Apr 16, 2020 Peter Faber Defined Benefit Plan COVID-19

UPDATE: On April 24, 2020, President Trump signed the Paycheck Protection Program and Health Care Enhancement Act into law. The new act provides an additional $310B in funding to the Paycheck Protection...

CARES Act 2020: Coronavirus Aid, Relief, and Economic Security Act Defined Benefit Plan Update

Apr 02, 2020 William Stuart Defined Benefit Plan COVID-19

On Friday, March 27, 2020, President Trump signed the Coronavirus Aid, Relief, and Economic Security Act (CARES Act). While the legislation applies to several retirement-related provisions, we’ll focus on two key...

Health Plan Coverage and Leave Benefits Mandated by the Federal Coronavirus Act

Mar 25, 2020 Steve Chase Health & Welfare COVID-19

President Trump signed the Families First Coronavirus Response Act (FFCRA) on March 18, 2020 following its passage by both houses of Congress. FFCRA includes employer mandates for expanded leave requirements under...

Worried about Funding your Pension Plan? There are Options.

Mar 23, 2020 Jill Casey Defined Benefit Plan COVID-19 Cash Balance Plans

Every sponsor of a traditional pension plan or a cash balance plan can be impacted by the effects of COVID-19. The impact of plan investment losses and decline in business revenue...

IRS Issues COVID-19 Guidance

Mar 11, 2020 Steve Chase Health & Welfare COVID-19

In response to the rapidly developing Corona virus outbreak, the IRS has issued guidance confirming that COVID-19 testing and treatment will be considered preventive care under high deductible health plans (HDHPs). ...

Setting up your HSA Contributions

Feb 10, 2020 Hannie Spitzack HSAs Financial Education

If you have a high deductible health plan, chances are you also considered a Health Savings Account (HSA) to help pay for out-of-pocket healthcare costs. Open enrollment has come and gone,...

Defined Benefit Plan Provisions of the SECURE Act

Jan 22, 2020 Ken Prell Regulations & Compliance

On December 20, as part of the Further Consolidated Appropriations Act, President Trump signed the Setting Every Community Up for Retirement Enhancement Act of 2019 (SECURE Act) into law. It is...

DC Provisions of the Secure Act

Jan 14, 2020 Maryann Geary Regulations & Compliance

On December 19th, President Trump signed the Setting Every Community Up for Retirement Enhancement Act of 2019 (SECURE Act) into law. This act aims to bolster retirement security with numerous provisions....

What is a Basis Point and how does it relate to the cost of VEBA/HRA Administration?

Jan 14, 2020 Karni Adamson VEBA/HRA

VEBA/HRAs are a valuable, fully tax-sheltered vehicle through which employees can be reimbursed for eligible medical expenses. The cost of administering both the VEBA Trust and claims reimbursement can be incurred...

What H.R. 1865 Means for Health Plans

Jan 09, 2020 Dan Megelick Health & Welfare

On December 20, 2019, President Trump signed H.R. 1865 into law, entitled “Further Consolidated Appropriations Act, 2020.” The legislation is a sweeping funding bill that incorporates the SECURE Act’s numerous provisions...