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NEWS & PUBLICATIONS

American Rescue Plan Act of 2021 - Mandatory COBRA Premium Assistance Part 1
(April 27,2021)

On March 11, 2021, President Biden signed the American Rescue Plan Act of 2021 (the “Act”), which is a $1.9 trillion legislative package that includes pandemic relief for individuals and families. The Act implements a mandatory 100% COBRA premium subsidy for individuals who have lost group health plan coverage due to the involuntary termination of employment or reduction in hours. Spouses and dependents who are qualified beneficiaries at the time of the loss of health coverage are also eligible for the subsidy. Employers are entitled to a tax credit under the Act in order to fund the costs.

Consolidated Appropriations Act - 2021, American Rescue Plan Act of 2021 and Other Recent Retirement Plan Guidance (April 20,2021)

The Consolidated Appropriations Act, 2021 (the “CAA”), was signed into law on December 27, 2020, which is most widely discussed in the context of the $900 billion stimulus package, but also contains several retirement plan provisions intended to ease the administration of retirement plans during the COVID-19 pandemic. Additionally, on March 11, 2021, the American Rescue Plan Act of 2021 (“ARPA”) was enacted into law in order to address the continued impact of the pandemic on the economy and businesses. Plan sponsors are encouraged to take advantage of the relief offered by the new legislation in the administration of their employee benefit plans.

2021 Retirement Plan Reminders and Certain Amendment Deadlines (March 17,2021)

Calendar year 2021 presents new opportunities to review existing benefit arrangements to determine whether design changes are needed based upon changing economics and employee demographics. The new year also provides a new opportunity to focus on regulatory compliance by ensuring that the plan documents and other instruments governing benefit plans reflect actual operation and incorporate required law changes. Plan sponsors are encouraged to review their retirement plans to ensure that the arrangements remain in documentary and operational compliance with the ERISA and IRC rules. COVID-19 has clearly impacted plan administration and resulted in Congress’ enactment of the legislation to relax several of the tax-qualification requirements for retirement plans. This important legislation, in addition to pre-COVID-19 legislation, requires plan sponsor action.

Parker, Brown, Macaulay & Sheerin, P.C. - Employee Benefits Alert (February 2021)
The Consolidated Appropriations Act, 2021 - No Surprises Act
The Consolidated Appropriations Act, 2021 (the “CAA”), was signed into law on December 27, 2020, which is most widely discussed in the context of $900 billion stimulus package, but also contains several group health plan focused consumer protection provisions. The No Surprises Act (the “Act”), enacted as part of the CAA, increases the disclosure and transparency obligations for group health plans and insurers to provide information to participants regarding the cost of coverage in order to avoid surprises. The Act amends Title XXVII of the Public Health Service Act, the Employee Retirement Income Security Act of 1974 (“ERISA”), and the Internal Revenue Code. As indicated below, plan sponsors are encouraged to start the process of negotiating with third party administrators and insurers to ensure that their practices will align with the Act as of the effective date. The Act’s provisions are generally effective for plan years beginning on or after January 1, 2022.

Parker, Brown, Macaulay & Sheerin, P.C. Newsletter - Employee Benefits Alert (October 2020)
Employee benefits regulatory guidance this year has been largely reactive to the administrative burdens and uncertainties experienced by employers and plan sponsors due to the Coronavirus Disease 2019 (“COVID-19”). In addition to COVID-19 related guidance, however, regulatory agencies have kept pace in the issuance of guidance unrelated to the pandemic. For these reasons, 2020 has been a challenging year for employers and plan sponsors due to unanticipated changes in the rules coupled with the obligation to comply with existing guidance. The newsletter provides an update on the recent guidance.

Parker, Brown, Macaulay & Sheerin, P.C. Newsletter - CARES Act - Retirement Plan Provisions (April 2020)
Provides a summary of the CARES Act Retirement Plan Provisions

Parker, Brown, Macaulay & Sheerin, P.C. Newsletter - Employee Benefits Alert(January 2020)
Provides a summary of regulatory updates that may affect your retirement plan

New England Employee Benefit Council presents -- 2018 Retirement Boot Camp
Thursday, November 1, 2018, 8:00 to 12:00
Forefront Waltham Conference Center, 404 Wyman Street, Waltham MA.

A Defined Contribution (DC) retirement plan is a key component of most employee benefit programs. Beyond the initial design and implementation:

Is your DC plan in compliance?
Are you meeting your fiduciary responsibilities managing the plan?
Is your 401(k) maximizing its full potential for all of your employees?

These are ongoing considerations for ALL benefits and HR professionals alike: new, entry-level and seasoned!

Summary of Draft EMAC Supplement Regs (November 2017)

Have you "HIRD"? A Massachusetts EMAC Update (November 2017)

Summary of New and Increased EMAC Assessments Beginning January 1,2018 and Ending December 31, 2019 (October 2017)

New England Employee Benefit Council presents -- 2017 Basics: Get the 411 on your 401(k) -- on Thursday, November 2, 2017, 8:30 to 12:00 at Waltham Woods Conference Center, 860 Winter Street, Waltham MA.

2017 Draft Forms 1094/1095 Released (July 2017)

Senate Efforts Collapse- July 28, 2017 Alert (July 2017)

Senate Vote Delayed - June 27, 2017 Alert (June 2017)

Senate Health Bill Released - June 23, 2017 (June 2017)

Parker, Brown, Macaulay & Sheerin, P.C. Newsletter (April 2017)
Provides a summary of regulatory updates that may affect your retirement plan

Trump Executive Order on the ACA (January 2017)

Opt-Out Plans - Proof of Coverage Is Not Enough (August 2016)

New England Employee Benefit Council presents -- 2016 Strategic Retirement Solutions: Vendor Showcase for Employee Financial Wellness Resources -- on Thursday, May 19, 8:30 to 12:00

IRS Delays Employer Reporting Requirements (December 2015)

IRS Adjustments to 9.5% Affordability and ESR Penalty Assessments (December 2015)

No MEC Filing Required for Integrated HRAs (September 2015)

REVISED MA EST Safe Harbor - Employee Notice Released 6.10.15

New Massachusettes Earned Sick Time Law will not be delayed, but there is a six-month transistional Sage Harbor for some employers (May 2015)

Notice 2014-55 - Additional Permitted Election Changes for Health Coverage under Section 125 Cafteria Plans (September 2014)

Final Employer Shared Responsibility Provisions under the ACA (Febraury 2014)

Use or Lose Rule Modified to Permit Carryovers (November 2013)

MA Connector Announces Fate of Section 125 Plan Requirement (October 2013)

Transistion Relief for 2014 Under the ACA's Information Reporting Requirements and Employer Shared Responsibility Provisions (July 2013)

New Guidance on The Notice to Employees of Marketplace Coverage Options and the Updated Model COBRA Election Form (July 2013)

Continuing to Implement the ACA in Careful, Thoughtful Manner (July 2013)

Employer Shared Responsibility – Identifying FT Employees and IRS Safe Harbors. (April 2013)

Employer Shared Responsibility Quick Start Overview (January 2013)

MA Fair Share Contribution to be Repealed (January 2013)

Here Come the Taxes on your GHP

Regulations Proposed for Health-Contingent Wellness Programs Under the ACA (December 2012)

Guidance Issued on Full-Time Employee Status (September 2012)

Changes to MA Fair Share Contribution Requirement Enacted (August 2012)

SCOTUS Rules on the ACA - It's Business as Usual (June 2012)

$2,500 FSA Contribution Limit Guidance Issued (June 2012)

Essential Health Benefits Report Released to HHS By Institute of Medicine (October 2011)

Overview of Proposed Regulation Regarding Summary of Benefit Coverage (SBC) and Uniform Glossary Requirements (August, 2011)

Additional Guidelines for Coverage of Women’s Preventive Services Without Cost Sharing Adopted. (August, 2011)

Interim Final Rules for International Claims/Appeals and External Review Processes (July 20, 2010)

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