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1087 Matching News Items
1.
IRS Disaster Relief Notice OH-2024-01, for Taxpayers Impacted by Tornadoes in Ohio
Internal Revenue Service [IRS]
May 16, 2024
Internal Revenue Service [IRS]
May 16, 2024
"[I]ndividuals and businesses in Ohio that were affected by tornadoes that began on March 14, 2024 ... now have until Sept. 3, 2024, to file various federal individual and business tax returns and make tax payments.... [I]ndividuals and households that reside or have a business in Auglaize, Crawford, Darke, Delaware, Hancock, Licking, Logan, Mercer, Miami, Richland and Union counties qualify for tax relief."
2.
Overview of Maryland Paid Family and Medical Leave (PDF)
Mercer
May 15, 2024
Mercer
May 15, 2024
18 slides. "Payroll tax begins July 2024. Contributions will be shared 50/50 by employers and employees.... Benefits begin July 2026 ... Employers with fewer than 15 employees are exempt from contributions; employees are required to contribute."
3.
Mercer CEO Brings Employers' Legislative Priorities to Capitol Hill
Mercer
May 15, 2024
Mercer
May 15, 2024
"Mercer CEO and President Pat Tomlinson ... focused on two legislative priorities for employers: preserving ERISA's long-standing preemption and protecting current tax incentives for employer-sponsored healthcare and retirement plans. He talked about studies that have shown that for every $1.00 of tax expenditure, multiples of that amount are paid by employers to finance health and retirement benefits. He also discussed the importance of pharmacy data transparency to employers."
4.
2025 HSA, HDHP and Excepted-Benefit HRA Figures Set
Mercer
May 13, 2024
Mercer
May 13, 2024
"In 2025, tax-deductible/tax-free HSA contribution limits, HDHP in-network out-of-pocket maximums and HDHP minimum annual deductibles will rise from 2024 levels for both self-only and family coverage levels. The HSA catch-up contribution limit is set by statute and hasn't changed since 2009. The 2025 maximum annual employer contribution for an excepted-benefit HRA will increase[.]"
5.
What Plan Sponsors Need to Know About DOL's Final QPAM Changes
Mercer
May 12, 2024
Mercer
May 12, 2024
"[S]ponsors won't need to take any immediate action in response to the changes. If a QPAM becomes ineligible to use the exemption in the future, it will need to notify the sponsor, who will have up to one year to assess and implement an appropriate course of action. DOL also confirmed that changes clarifying the scope of a QPAM's authority over plan transactions won't disrupt sponsors' routine monitoring activities and establishment of investment guidelines. The changes take effect on June 17."
6.
The CFO Perspective on Health: Cost of Health Benefits Is a Significant Concern (PDF)
Mercer
May 8, 2024
Mercer
May 8, 2024
18 pages. "Over two-thirds of CFOs view health benefit cost as a significant or very significant concern compared to other operating expenses.... Over a third of CFOs are not confident that long-term health benefit cost management strategies that require investment are saving money -- and 19% don't have enough information to say.... One third of respondents with fully insured plans are at least considering converting to a different funding mechanism."
7.
Maryland Revises Paid Family and Medical Leave (PDF)
Mercer
May 7, 2024
Mercer
May 7, 2024
"Contributions ... are set to begin July 1, 2025. Starting July 1, 2026, covered employees may take up to 12 weeks of leave in a rolling 12-month period, with another 12 weeks possible for employees who experience a serious health condition and need to bond with a new child.... Covered employers must participate in the state program or comply with an approved private plan (insured, self-insured, or a combination)."
8.
IRS Changes More Preapproved Plan Amendment Timing Rules
Mercer
May 3, 2024
Mercer
May 3, 2024
"The new rules -- announced in Rev. Proc. 2023-37 -- took effect on Nov. 21, 2023.... The deadline to adopt interim amendments to preapproved plans for changes in law or guidance is now tied to IRS's Required Amendments List.... [T]he deadline for governmental employers to adopt a plan amendment is the later of: [1] The deadline that applies to nongovernmental employers for the particular type of amendment (e.g., discretionary or interim); [2] If legislative action is necessary to adopt an amendment, a date based on the employer's legislative calendar."
9.
DOL Seeks Information for SECURE 2.0 Lost-And-Found Database
Mercer
May 1, 2024
Mercer
May 1, 2024
"DOL hopes plan administrators will voluntarily provide extensive historical information -- much of which goes beyond what the act requires -- to help the agency meet its Dec. 29 deadline for setting up the database. If the ICR is approved substantively intact, sponsors will need to carefully consider whether to provide the requested data, including discussing with legal counsel any potential risks under applicable privacy laws. Comments are due June 17."
10.
Selected State Health Developments, First Quarter 2024 (PDF)
Mercer
Apr. 24, 2024
Mercer
Apr. 24, 2024
13 pages. "While most state legislatures stayed busy in the first quarter of 2024, comparatively few leave- and insurance-related bills became law. Instead, much of that activity took place on the regulatory front."
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