DC Plan Administrator
San Diego Pension Consultants
in CA

Administrative Consultant for Qualified Retirement Plans
PenSys, Inc.
in CA, NC

3(16) Fiduciary Services Specialist
Pensys Fiduciary Services, Inc.
in CA

Sales Consultant 401(k) / DB
Farmer & Betts
in GA, MN, MO, NC, SC, TN, TX, WI

Institutional Assistant
WealthSouth, A Division of Farmers National Bank
in KY

H&W Account Executive
Alerus Financial
in MN

Defined Contribution Pension Plan Administrator
The Angell Pension Group, Inc.
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2017 Year in Review: Plus What Lies Ahead in 2018!
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Text of 2017 IRS Instructions for Form 8889: Health Savings Accounts (HSAs) (PDF)
"Use Form 8889 to: [1] Report health savings account (HSA) contributions (including those made on your behalf and employer contributions), [2] Figure your HSA deduction, [3] Report distributions from HSAs, and [4] Figure amounts you must include in income and additional tax you may owe if you fail to be an eligible individual."
Internal Revenue Service [IRS]

Online Learning Course: COBRA

Even with ACA coverage easier for individuals to obtain, group health plans must continue to offer COBRA coverage. This course explains technicalities of COBRA, including who is entitled and how to administer.

IRS Provides Guidance on Qualified Small Employer Health Reimbursement Arrangements
"According to [ IRS Notice 2017-67 ], a separate benefit up to the maximum permitted benefit must be provided to each eligible employee, regardless of whether employees are covered under an individual health policy or a family policy. Therefore, spouses who work for the same employer and who are covered under a family policy must both receive the full family benefit coverage.... However, eligible employees may not be reimbursed for duplicate costs, so the total premium reimbursement for Employees A and B may not exceed the $10,000 annual premium for their family health insurance policy."
von Briesen & Roper, s.c.

Fringe Benefits: What Tax Reform Means to the Employer
"If a tax-exempt entity provides an opportunity for employees to pay transportation expenses on a pre-tax basis, the entity may inadvertently trigger [unrelated business taxable income (UBTI)], which could be a significant issue. Further complicating this issue are the local laws in New York City, Washington, DC, and the San Francisco Bay area that require certain employers to maintain qualified transportation fringe benefit programs under Code Section 132(f). Therefore, it will not be easy for certain employers to simply discontinue transportation fringe programs in order to avoid UBTI."
McDermott Will & Emery

A Game Plan for Employers Facing Possible ACA Penalties
"Letter 226-J only provides 30 days to defend against a penalty assessment. The first step is to review the IRS notice carefully, focusing on whether the facts recited in the letter are accurate.... If the facts in the Letter 226-J are correct, ... you should assess whether you have additional defenses.... Your final reaction should be to generate a response to the Letter 226-J, as you will be presumed to owe the amount assessed if you do not respond, and the IRS may levy assets to collect."
Carlton Fields

Tax Code Revisions Will Affect Employer Policy and Litigation Strategy Decisions (PDF)
"The bill does not require employers to offer paid leave. Rather, the TCJA establishes a tax credit as an incentive to employers to provide paid family and medical leave. This tax credit has a sunset provision -- it is only available in tax years 2018 and 2019. Furthermore, the credit is not available with respect to any amounts paid by a state or local government or required by state or local law."
Stevens & Lee

Now is the time to become a member of ECFC

ECFC is dedicated to maintaining and expanding employee benefit programs on a tax-advantaged basis. Members include employers, TPAs, health plan providers, brokers, payers, providers, payment networks, processors, and financial institutions.

Tax Law Sends Mixed Messages on Transportation Benefits
"Beginning in 2018, the law repeals employer deductions for parking and transit benefits ... Employees are still able to exclude employer-provided parking and transit benefits from their income and use salary reductions to purchase such benefits on a pre-tax basis. The law makes the opposite changes to bicycle commuting reimbursements."
Bloomberg BNA

Two-Year Delay for Cadillac Tax Included in Continuing Resolution Bill to Keep the Government Running
"[T]he effective date of the excise tax on high-cost health plans would be delayed for an additional two years, so that the tax will not become effective until 2022 rather than 2020. The bill also addresses other tax provisions that were part of the [ACA], such as the medical device excise tax and the excise tax on health insurers. In addition, the bill would extend the Children's Health Insurance Program (CHIP) for six additional years."
Employers Council on Flexible Compensation [ECFC]

Employers Received Rebates in 2016 Due to ACA's MLR Provision
"In 2016, employers in the small group market received approximately $153 million in rebates, and employers in the large group market received $191 million in rebates due to the [ACA's] medical loss ratio (MLR) provision ... Consumers in the individual market received approximately $103 million in rebates. In 2016, health insurance companies paid approximately $447 million in rebates."
Wolters Kluwer Law & Business

Health Insurers Rely on Group Coverage Profits to Offset Exchanges
"The individual health insurance market is still a slog for health plans, but health plans remain profitable overall because of their group coverage sales.... [I]nsurers gained ground in their medical loss ratios, which averaged 81% through the third quarter. They saw similar improvement in gross margins per member per month in the individual market segment, up to $79 per enrollee in the third quarter of 2017. That figure had been as low as $10 in 2015."
HealthLeaders Media

Where Is an Employee's 'Home' for Travel Expense Reimbursement Purposes?
"An employee's 'tax home' is generally determined by where the employee works, not by where the employee lives. An employee's tax home is not limited to a particular building or property but rather includes the entire city or area in which the tax home is located.... Assignments of indefinite duration can change a taxpayer's tax home, but temporary assignments will not if the assignment is realistically expected to last, and in fact lasts, for one year or less[.]"
Thomson Reuters / EBIA

Text of IRS Disaster Relief CA-2018-01, for Victims of Wildfires, Flooding, Mudflows and Debris Flows in California
"Individuals who reside or have a business in Los Angeles, San Diego, Santa Barbara and Ventura Counties may qualify for tax relief.... [C]ertain deadlines falling on or after Dec. 4, 2017 and before April 30, 2018, are granted additional time to file through April 30, 2018."
Internal Revenue Service [IRS]

No More Delays! DOL Says New Disability Claims Rules Take Effect April?2
"[1] Identify all ERISA-covered plans sponsored by the employer that provide disability benefits.... [S]hort-term disability (STD) plans may or may not be subject to ERISA.... In addition, some retirement plans have disability-based provisions and could be caught up in the new rules. [2] Confirm that all ERISA-covered plans that provide disability benefits have updated claims procedures in effect on April 2.... [T]he procedures should be in writing and ready to be implemented by this date.... [3] Update summary plan descriptions (SPDs) to include the new procedures, and distribute the revised SPDs."
Mintz Levin

How the Changes to Section 162(m) Executive Comp Rules Impact Your Company (PDF)
"[The] changes will necessitate reviewing proxy disclosures related to Section 162(m) and considering whether provisions and practices related to complying with the previously applicable Section 162(m) rules should continue to be followed. As companies both public and private prepare for their compensation decisions in 2018, here are key things you need to know[.]"
Debevoise & Plimpton LLP

Press Releases

Phyllis C. Borzi Joins Fiduciary Institute Board of Advisors Institute for the Fiduciary Standard

DiGregorio will join Lockton as senior vice president in Florida Lockton

Robert Q. Johnson Named Member at Kaufman & Canoles Kaufman & Canoles, P.C.

Christopher L. McLean Named Member at Kaufman & Canoles Kaufman & Canoles, P.C.

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