-
An Eastman Kodak employee filed a civil lawsuit against Kodak's board members and other fiduciaries of the photography companies' retirement plans, saying they breached their duties as the company was spiraling toward bankruptcy.
February 1 -
On January 3, 2012, the Internal Revenue Service issued Revenue Procedure 2012‑6, which formally changes and eliminates certain features of its determination letter program for qualified retirement plans. According to an earlier announcement of these changes (in IRS Announcement 2011-82), the IRS concluded that the features being eliminated are “of limited utility to plan sponsors in comparison with the burdens they impose.” However, the changes will significantly restrict the determination letter service on which plan
January 27 -
Do you have an action plan for complying with the Wage Theft Protection Act by February 1? Read in todays BeAdvised as EBA contributor Ken Moyle shares three areas New York employers must comply with under the WTPA.
January 26
-
Wage laws are tricky. But it is an area of law all employers need to familiarize themselves with. It's necessary to compensate employees sometimes even when you least expect it. In fact, there are times when employees need to be paid for...not working.
January 25 -
I recently read an article about a company wellness program that consisted primarily of a company health fair. At the health fair, an employee who thought he was otherwise healthy took a Prostate-Specific Antigen test and discovered he had elevated PSA levels. He was encouraged to follow up with his doctor, who discovered he had prostate cancer. He was ultimately cured and his doctor said he probably would have died had it not been for
January 20 -
The Patient Protection and Affordable Care Act requires employers to report the aggregate cost of employer-sponsored health coverage on the Forms W-2 of its employees. In March 2011, the Internal Revenue Service issued interim guidance on the Form W-2 informational reporting requirement in the form of 31 Q&As. Recently, the Internal Revenue Service revised this interim guidance by issuing Notice 2012-9, which clarifies several of the original Q&As and adds some Q&As.
January 13 -
Broker-dealers are up in arms over a little-known provision of the Department of Labor's 401(k) plan fee disclosure rules.
January 12 -
An official at the Department of Labor acknowledged that it may not be feasible for securities industry groups to immediately provide all of the data it requested for use in a cost-benefit analysis it is conducting.
January 10 -
Although it is probably not high on the list of priorities for plan administrators, the end of a calendar year usually means means the start of the process of preparing 5500s. They may not be due right away, but it is always good to know what information you will have to provide when you eventually file them. The Employee Benefits Security Administration has made an informational copy of the 2011 5500 available, with instructions, on
January 6 -
In the midst of the holiday season, many of us spend time reflecting on the past year and identifying opportunities to improve ourselves in the one ahead. As you make your personal New Years resolutions, why not make some professional resolutions as well? A 2012 review and update of these 10 personnel policies will help manage employee expectations, limit company liability and ensure regulatory compliance.
December 30