Deferred Compensation News and Updates

Deferred Compensation News brings you the latest information and insights on 409A nonqualified deferred compensation; institutional COLI, BOLI, and ICOLI; tax-and cost-efficient non-COLI funding strategies; low-cost tax managed non-COLI asset/liability designs; executive benefits benchmarking; succession planning and timely issues of executive pay and benefits. Click here to read all recent articles related to the impact of the COVID-19 Pandemic.
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November 30, 2016

2016 Year-End Compliance Checklist Employment Benefit Plans Isler Dare

2016

The following update was prepared by IslerDare PC and is shared here with their permission as Fulcrum Partners continues to provide education and insight on the changes and clarifications to rules involving employment benefit plans. You may download this report on the Resources Page (2016 Year-End Compliance Checklist) of the Fulcrum Partners website. 2016 Year-End Compliance Checklist: Employment Benefit Plans With the results of the Presidential election just behind us, it is likely that the landscape of employee benefit plans—and the regulations that govern them—will change. For the time being, however, there are still some important compliance deadlines quickly approaching, so we wanted to remind plan sponsors of these key compliance actions as 2016 comes to a close: November 15, 2016 Transitional Reinsurance Report and Fee for Self-Funded Group Health Plans: If you sponsor a self-insured group health plan, you (or your third-party administrator (“TPA”), on behalf of the plan) must report your enrollment count, calculate your reinsurance fees of $27 per covered life for 2016, and schedule the required reinsurance payment. The reinsurance payment can be made in one payment no later than January 15, 2017, or in two payments, with the first payment of $21.60 per covered life due no later than
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November 21, 2016

Roundup of Recent Legal Developments Impacting Your Health and Welfare Plans

2016

The following update was prepared by IslerDare PC and is shared here with their permission as Fulcrum Partners continues to provide education and insight on the changes and clarifications to health plan and benefit rules. You may download this report on the Resources Page (A Roundup of Recent Legal Developments Impacting Your Health and Welfare Plans) of the Fulcrum Partners website. A Roundup of Recent Legal Developments Impacting Your Health and Welfare Plans Executive Summary The Federal Government has issued a series of new rules addressing gender identity discrimination and transgender rights, which may impact the benefits that you are required to offer under your health insurance plans. The IRS issued proposed regulations on the treatment of “opt-out” payments that employees may receive for waiving an employer’s medical coverage, providing that properly structured payments will not be considered employee contributions for purposes of determining whether the coverage that is offered is affordable under the employer-shared responsibility provisions of the Affordable Care Act (the “ACA”). The proposed regulations will apply beginning with the first plan year beginning on or after January 1, 2017, although they can be relied on immediately. Employers have started to receive notices from the Health Insurance Marketplaces informing them that
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