Regulation and compliance
Regulation and compliance
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A couple months ago, a client's management team asked whether I agreed with their existing practice of automatically excluding from consideration for employment all candidates with criminal records. I advised them that I could not bless such a blanket disqualification, and I counseled them about how to modify their practice going forward.
June 1 -
Despite recent tax reform proposals, experts testified at a House committee hearing April 26 that cutting incentives for retirement plans would be detrimental to savings.
June 1 -
The Department of Health and Human Services announced in March that Blue Cross Blue Shield of Tennessee agreed to pay the agency $1.5 million to settle a potential HIPAA violation - the first resulting from a breach under the HITECH Act's (Health Information Technology for Economic and Clinical Health) breach notification rule, which requires covered entities to report an impermissible use or disclosure of protected health information of 500 individuals or more to HHS and the media.
June 1 -
Employers around the country are waking up to a serious and unexpected problem with their health care flexible spending accounts. The health reform law enacted several years ago quietly limited these popular “FSA” benefits to $2,500 per year, effective January 1, 2013. But the express terms of the law conflict with the explanation provided by Congress, and many employers are scratching their heads trying to figure out when plans must be changed to meet the
June 1 -
With the Supreme Court's ruling on health care reform pending, the fate of the Affordable Care Act remains largely uncertain. In the meantime, however, the law is still in force. The Department of Labor has begun requesting, through recent audit requests on health and welfare plans, that employers prove their plans currently comply with the Act. Is your plan ready?
May 25 -
JPMorgan Chase & Co has been hit with a lawsuit brought on behalf of employees whose retirement holdings fell in value after the largest U.S. bank revealed a surprise $2 billion trading loss earlier this month. The defendants are accused of violating fiduciary duties to 401(k) and other retirement plan participants by including company stock as an investment option, hiding the stock's risk, and failing to move participants to safer choices.
May 23 -
At what point does clicking "Like" on a Facebook page result in a pair of federal complaints pitting employers against employees and raising fresh questions about the role of online speech? In recent weeks, two cases have come to light, each featuring employees clicking "Like" on Facebook and being fired for having done so.
May 22 -
Today, more and more participants are requesting hardship distributions from their 401(k) plans in an effort to make ends meet. While you no doubt want to comply with their requests, you don't want to do so to the detriment of your plan. It's critical to understand what the law allows and to review your plan's hardship distribution procedures in order to avoid the headaches that will result from impermissible hardship distributions.
May 18 -
In a series of three notices, the IRS has signaled the approach that it may take on certain key issues arising under the employer shared responsibility, or "pay or play,” provisions of the Affordable Care Act and is seeking comment on these and other questions. All of the matters discussed in the notices will ultimately be addressed in regulations. …
May 11 -
Have a problem with federal employee benefit regulations? Write to the agencies that issue them. That was the message from the Department of Labor, Internal Revenue Service and Employee Benefits Security Administration at an International Foundation of Employee Benefit Plans conference on Wednesday in Washington, D.C.
May 10 -
The Equal Employment Opportunity Commission has issued its long-anticipated Enforcement Guidance on employer use of arrest and conviction records in making employment decisions. The guidance, released on April 25, 2012, is grounded on the premise that any employment practice that has a disparate impact upon a Title VII protected group is unlawful unless the practice is job related and consistent with business necessity.
May 4 -
The retirement planning industry is asking once again for leniency from federal fee disclosure regulations that take effect July 1.
May 1 -
As a result of foreign ownership, it's common for U.S. employees to receive stock options from foreign parents that are subject to taxation in the United States.
May 1 -
Regulators are more closely examining companies that serve employers' retirement plans, a sign that there may be harsher enforcement when new fee disclosure rules take effect this summer.
April 30 -
The approximately 65 million job seekers in the United States who have criminal records would get more thorough consideration by potential employers under new guidelines embraced by the federal government last week.
April 30 -
The Internal Revenue Service has issued a proposed rule addressing the fees imposed by the Affordable Care Act on issuers of certain health insurance policies and plan sponsors of certain self-insured health plans to fund comparative effectiveness research. These fees are designed to support the Patient-Centered Outcomes Research Trust Fund. The Affordable Care Act includes provisions establishing the Patient-Centered Outcomes Research Institute, a private, nonprofit corporation whose purpose is to “assist, through research, patients, clinicians,
April 20 -
Despite recent tax reform proposals, experts testified at a House committee hearing Tuesday that cutting the incentives for retirement plans would be detrimental to savings in this country.
April 18 -
The Age Discrimination in Employment Act of 1967 prohibits discrimination on the basis of age and covers employees who are 40 years of age and older, which provides a statutory exception for "reasonable factors other than age." Since the Supreme Court held in Smith v. City of Jackson that employees could bring a disparate impact case under the ADEA, employers have sought guidance from the EEOC on how it would interpret the cryptic phrase "reasonable
April 13 -
ERISA defines a multiple employer welfare arrangement as an employee welfare plan or any other arrangement which is established or maintained for the purpose of providing welfare benefits to the employees of two or more "unrelated" entities. Thus, if a welfare plan is maintained by an employer for the exclusive purpose of providing benefits to that employer's employees, former employees (e.g., retirees) or beneficiaries (e.g., spouses, former spouses, dependents) of such employees, the plan will be considered a "single employer" plan and not a MEWA.
April 1 -
On Monday, the Supreme Court began hearing oral arguments addressing the Patient Protection and Affordable Care Act. Day one of the oral arguments focused on the application of the “Anti-Injunction Act,” which could prohibit the Supreme Court from ruling on the constitutionality of PPACA (if it is considered a tax law) because the penalties would not become applicable until 2015. Although both parties agree that the Supreme Court’s review should not be barred by the
March 30