On Sept. 14, 2021, federal agencies announced proposed revisions to the Form 5500 Annual Return/Report. These changes are designed primarily to implement provisions in the Setting Every Community Up for Retirement Enhancement Act of 2019 (SECURE Act), in addition to other improvements. This Legal Update explains further.
Recently, the IRS released Rev. Proc. 2021-36, which announced the 2022 indexing adjustments for two important percentages under the Affordable Care Act (ACA).
On Aug. 18, 2021, the U.S. Equal Employment Opportunity Commission (EEOC) announced that employers submit to equal employment (EEO-1) reporting now have until Oct. 25, 2021, to complete their submissions of 2019 and 2020 workforce data. This Legal Update provides information about the deadline extension.
With Employee Benefits & HR topics regularly in the news, it’s difficult to stay up to date. Our weekly newsletter will help you stay current. Check out this week's edition.
For employers operating their group health and welfare plans beginning on or after Jan. 1, 2022, now is the time of the year to prepare for open enrollment. Typically, the focus is on evaluating the services and performance of vendors, renewing rates, and considering design changes. In addition to these items, employers need to address various legal requirements. This Benefits Brief provides a checklist that covers these requirements for the 2022 plan year.
On August 4, 2021, the Internal Revenue Service (IRS) published Notice 2021-49 with respect to the 2021 Employee Retention Credit (ERC). Previously, The American Rescue Plan Act (ARPA, P.L. 117-2) extended the ERC through December 2021 and revised certain provisions and ERC eligibility. With this recently issued notice, the IRS provides further details related to some important matters businesses needed clarification on. Specific topics addressed include recovery startup businesses; coordination with PPP loans; severely financially distressed employers; and wages paid to majority owners and spouses, in addition to clarifying other areas.