May 28, 2020
Hosting five webinars over two weeks – covering practical considerations, benefits compliance, innovation, business insurance and employee well-being – advanced understanding of the challenges of return-to-work transitions and how we can play a role in helping employers overcome them. As things evolve, we want to keep the dialogue going by providing additional resources, including a new FAQ of questions received during the webinars, a compilation of regulatory updates by state from Steptoe and Johnson LLP, and a benefits compliance FAQ. If you missed any of the webinars, you can play them back on the Webinars page.
April 01, 2020
The CARES Act also has several provisions relating to employee benefits, both on the health side and the retirement side, as well as a few miscellaneous provisions on fringe benefits (student loan repayment).
View this benefits compliance summary for more information.
The CARES Act contains provisions meant to loosen access to money in retirement vehicles. It also contains provisions meant to alleviate certain retirement plan requirements, providing plan sponsors with the option to waive the 10% early withdrawal penalty on participant distributions of up to $100,000, increase participant loan limits, and suspend existing participant loan repayments for individuals impacted by COVID-19. In addition, the Act waives required minimum distributions to be paid in 2020, provides plan sponsors relief in delaying contribution due dates for defined benefit and money purchase pension plans, and empowers the Department of Labor with broad authority to extend certain notice deadlines.
For more information on the retirement provisions of the CARES Act, click here.
March 20, 2020
NFP’s Benefits Compliance team will address the impact of COVID-19, starting with the recently enacted Families First Coronavirus Response Act (FFCRA). FFCRA includes new emergency paid sick leave requirements, expanded FMLA protections, and mandated COVID-19-related health insurance coverage requirements. We will also address COVID-19-related scenarios employers are now facing, including: 1) situations relating to benefit plan eligibility and coverage during a furlough, layoff or reduction in hours; 2) plan document and SPD issues; 3) ACA issues (including measurement and stability periods during a furlough/layoff); 4) COBRA responsibility and timing; 5) HDHP/HSA interaction with COVID-19 mandated coverage; 6) state issues (such as mandates on coverage, expansion of paid family and medical leave protections, and delayed filing requirements); and 7) HIPAA and other privacy issues.
March 20, 2020
We understand that uncertainty is stressful and that demand is high for information and insight. As developments related to COVID-19 continue to evolve, we are making every effort to keep you informed of the impact on the corporate benefits industry, provide guidance on actions to consider and offer tools you can use with employees.
March 19, 2020
On Wednesday, March 18, 2020, the president signed HR 6201, the Families First Coronavirus Response Act (the FFCRA), which contains several different provisions (also called Acts), which are now law. The new law will have a significant impact on employer benefits and leave policies, particularly for those employers with fewer than 500 employees.
March 17, 2020
- Work from home best practices
- Telecommuting policy
- Contingency planning template
- Communications for four scenarios
- Protecting yourself against scams
- And more