Hurricane Relief Legislation for Retirement Plans

in Qualified Plans, Retirement Plans, Tax Issues

By: Sterling Perkinson and Harrison Taylor

We addressed hurricane relief for retirement plans offered by the IRS and other agencies in previous blog posts (covered here and here). While the IRS relief allows for easier access to retirement funds on account of losses due to the recent hurricanes, the IRS could not on its own alleviate the adverse tax impacts of obtaining a hardship distribution. But with the Disaster Tax Relief and Airport and Airway Extension Act (the “Act”), Congress...Continue Reading

DOL Adopts 90-Day Delay for Disability Regulations

in Disability Plans

New disability claims procedures were scheduled to go into effect on January 1, 2018.  In a notice to be published in the Federal Register on October 12th, the DOL will provide for a 90-day delay to examine the burdens of the new regulation.  That means the new applicability date of the disability final regulations would be April 1, 2018, unless the DOL chooses to further delay or revise the regulation.

HIPAA Electronic Certification Rules Withdrawn

in HIPAA Privacy & Security

Proposed rules issued January 2, 2014 would have required certain health plans (including self-insured health plans) to certify compliance with three of the HIPAA rules relating to electronic transactions. These certification requirements were viewed as fairly onerous, particularly for self-insured plans that rely on their third party administrators for such transactions. More specifically, these rules would have required controlling health plans to demonstrate compliance with the electronic...Continue Reading