Expert Compliance Insights & Tips for Businesses
DOL Proposes Rule to Consider New Factors in Benefits Plan Management
October 18, 2021
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On October 13th, 2021, the U.S. Department of Labor (DOL) announced a proposed benefits plan management rule. Generally, the rule would remove barriers to specific plan fiduciaries’ abilities. For instance, now considering climate change and other environmental, social, and governance factors when selecting investments and exercising shareholder rights. Earlier, in August 2021, the Internal Rev...
October 12, 2021
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DOL Cites Employer for COVID-19 Exposure
The U.S. Department of Labor (DOL) has announced levying citations on a business for purposely allowing COVID-19 exposure. In summary, a federal workplace health investigation found that an auto insurance company ignored coronavirus safety requirements. Subsequently, it permitted individuals displaying symptoms to work at the exact location where an employee previously died of COVID-19. Since t...
Notice Clarifies COBRA Coverage Deadlines
October 11, 2021
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On October 7th, 2021, the Internal Revenue Service (IRS) issued guidance relating to COBRA continuation coverage deadlines. Also written by the Department of Treasury, Notice 2021-58 clarifies current COBRA coverage deadlines in connection with the COVID-19 pandemic. In addition, the U.S. Departments of Labor and Health and Human Services will also follow the new guidance. Previously, in May 20...
Frequently Asked Questions on Affordable Care Act Implementation Released
October 11, 2021
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The Department of Health and Human Services (HHS) oversees the Affordable Care Act (ACA), including any Affordable Care Act implementation processes. In summary, the ACA is a 2010 comprehensive health care reform law designed to extend health coverage to Americans. Accordingly, the ACA includes premium tax credits and cost-sharing reductions to help lower expenses for lower-income individuals ...
Federal Agency Issues Guidance on HIPAA and COVID-19
October 5, 2021
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On September 30, the Department of Health and Human Services (HHS) issued guidance on the connection between HIPAA and COVID-19. In summary, the Health Insurance Portability and Accountability Act (HIPAA) protects patient health information from disclosure without prior consent. Chiefly, the guidance addresses when HIPAA applies to disclosures and requests for information about a person receivi...
FBI and Cybersecurity Agency Warn of Increased Ransomware Cyberattacks
October 4, 2021
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The Cybersecurity and Infrastructure Security Agency (CISA) and the Federal Bureau of Investigation (FBI) recently observed increases in ransomware cyberattacks. Indeed, in Alert AA21-265A, the agencies note the use of Conti ransomware in over 400 attacks on various global organizations. By and large, in Conti ransomware cyberattacks, malicious entities steal files, encrypt servers and workstat...
IRS Updates Benefit Plan Correction Guidance
October 4, 2021
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On August 25th, 2021, the Internal Revenue Service (IRS) released updated guidance for employers on correcting benefit plan mistakes. In general, Revenue Procedure 2021-30 updates the Employee Plans Compliance Resolution System (EPCRS). Chiefly, if an administrator makes a mistake in a retirement plan, the EPCRS can fix the error, avoiding plan disqualification. Earlier, in July 2021, the IRS r...
DOL Relies on Court Decision to Address ERISA’s Statute of Limitations
September 28, 2021
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Under the Employee Retirement Income Security Act (ERISA), an investigation into possible violations must follow ERISA’s statute of limitations. In general, ERISA sets standards for established retirement and health plans in private industry. In effect, these standards protect individuals enrolled in these plans. Given that, rules allow the Department of Labor (DOL) to file suit against entitie...
Federal Workforce COVID Guidance Released
September 28, 2021
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On September 24th, 2021, the Safer Federal Workforce Task Force (Task Force) released new federal workforce COVID guidance. In brief, the White House COVID-19 Response Team leads the Task Force. The General Services Administration (GSA) and the Office of Personnel Management (OPM) also lead the team. Chiefly, the Task Force gives federal agencies ongoing guidance to keep their employees safe an...
Latest DOL Final Rule Levies Penalties on Employee Tip Withholding
September 27, 2021
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On September 23rd, 2021, the U.S. Department of Labor (DOL) announced a new final rule on employee tip withholding. Generally, the rule restores the DOL’s ability to assess civil penalties against employers who take tips earned by their employees. Markedly, the rule states this is a violation no matter if the action is willful or repeated. Additionally, the rule modifies the DOL’s broader civil...