The Coronavirus Air, Relief, and Economic Security (CARES) Act signed into law on March 27 includes an allocation of $200 million to the Federal Communications Commission (FCC) to support telehealth services and $125 million to the US Department of Agriculture’s Rural Utilities Service to expand its existing distance learning, telehealth, and broadband initiative.
ML BeneBits
EXAMINING A RANGE OF EMPLOYEE BENEFITS
AND EXECUTIVE COMPENSATION ISSUES
AND EXECUTIVE COMPENSATION ISSUES
Our employee benefits and executive compensation practice is available to help employers evaluate and troubleshoot potential issues arising from the changing work environment and economic situation caused by the COVID-19 pandemic.
Sponsors of single employer defined benefit (DB) pension plans could be subject to higher-than-usual minimum funding contribution requirements over the next several years, for at least two reasons.
In recent years, there has been an upward trend of regulators focusing on the issue of retirement plan participants not collecting retirement benefits upon reaching retirement age (and we have previously covered the final rule on the missing participants program on this blog). Although there are many reasons why individuals delay collection, in some cases, the individuals are not starting their benefit payments because they are “missing”—meaning the administrators of their retirement plans cannot locate them or the plans lack critical identifying information to locate them.
In final regulations set to take effect for 2020 Forms W-2, the IRS gives employers the option of using truncated Social Security numbers (SSNs) on employee Forms W-2 issued after December 31, 2020.
Recent decisions by the US Court of Appeals for the Ninth Circuit have reinvigorated the debate over whether mandatory individual arbitration provisions are enforceable with respect to ERISA claims and, if so, whether these provisions are worth including in your ERISA plan document.
Join Morgan Lewis this month for these programs on employee benefits and executive compensation.
Join Morgan Lewis this month for these programs on employee benefits and executive compensation.