Check Out Our Events!

November 07, 2017

Join Morgan Lewis in November for these programs on a variety of topics in employee benefits and executive compensation:

ABA’s 28th Annual Philadelphia Tax Conference – Employee Benefits: Employment Tax Update| November 1 | Philadelphia | Seminar presented by Mary B. (Handy) Hevener

Joint Committee on Employee Benefits (JBC)—American Bar Association (ABA) Fiduciary Institute 2017 – Special Considerations in Investments Involved with 401(k) Plans | November 6 | Washington, DC | Presentation by Marla J. Kreindler

2017 TEI Mergers & Acquisitions Seminar – Employee Benefits & Compensation| November 7 | Boston | Seminar presented by Patrick Rehfield

TEI Federal Chapter Meeting: Executive Compensation Update | November 9 | New York | Seminar presented by Mary B. (Handy) Hevener, Rosina Barker, Jeanie Cogill, Gina Lauriero, and Jonathan Zimmerman   

Tax Reform: The Devil’s in the Details, Part III of our Morgan Lewis Tax Reform Discussion | November 10 | Webinar presented by Mary B. (Handy) Hevener, Alexander L. Reid, and Jonathan Zimmerman | To learn more about this series, access Part I and Part II

2017 Tennessee Federal Tax Conference – The Incredible Shrinking De Minimis Fringe Benefit | November 17 | Franklin | Seminar presented by Patrick Rehfield

We’d also encourage you to attend the firm’s Public Company Academy series: Morgan Lewis Public Company Academy - Shareholder Activism Defense: What You Need to Know About Advance Notice and Other Bylaw Provisions | November 8

Visit the Morgan Lewis events page for more of our latest programs. 

Join Morgan Lewis in October for these upcoming programs on a variety of employee benefits and executive compensation topics:

Disruption in Washington: Impact on Benefits and Compensation | October 3 | Philadelphia | Seminar presented by Morgan Lewis and The ERISA Industry Committee (ERIC) | Morgan Lewis panelist is John Ferreira

Morgan Lewis Public Company Academy – Equity Plans | October 4 | Webinar presented by Randall (Randy) McGeorge, Patrick Rehfield, and Mims Maynard Zabriskie

2017 Roundtable for Consultants & Institutional Investors – Successfully Navigating the DC Seas | October 5 | Chicago | Morgan Lewis panelist is Marla Kreindler

Pensions & Investments Annual West Coast Defined Contribution Conference – It’s Process, Process, Process . . . | October 10 | San Diego | Morgan Lewis moderator is Marla Kreindler

Visit the Morgan Lewis events page for more of our latest programs.

On June 16, the US Departments of Labor, Health and Human Services, and Treasury (collectively, the “Departments”) released additional guidance under the Mental Health Parity and Addiction Equity Act (MHPAEA), as amended.

The guidance consists of a frequently asked question (FAQ) and a draft model form to help participants request information from health plans regarding nonquantitative treatment limitations that may affect their mental health or substance use disorder benefits or to obtain documentation to support an appeal after an adverse benefit determination involving such benefits.

Join Morgan Lewis in May for these upcoming programs on a variety of employee benefits and executive compensation topics:

Disruption in Washington: Impact on Benefits and Compensation | Seminars presented by Morgan Lewis and The ERISA Industry Committee (ERIC)

May 10 | Silicon Valley | Morgan Lewis Seminar Panelist John Ferreira

May 12 | Los Angeles | Morgan Lewis Seminar Panelist John Ferreira

2017 TEI New England Chapter | May 12 | Massachusetts| Seminar presented by Mary B. (Handy) Hevener

Morgan Lewis Public Company Academy - Executive Compensation: Current Trends and Design Challenges | May 16 | Webinar presented by Jeanie CogillMims Maynard Zabriskie, and Jonathan Zimmerman

2017 Technology May-rathon: Benefits and Compensation – Mission Critical for Tech-Company Success | May 23 | Webinar presented by Saghi (Sage) Fattahian, Carly Grey, and Erin Randolph-Williams

Visit our events page for more of our latest programs.

Join Morgan Lewis in April for these upcoming programs on a variety of employee benefits and executive compensation topics:

All Fired Up and Ready to Go: Navigating the Legal Minefield of Executive Terminations | April 12 | Webinar presented by Joseph J. Costello, Mims Maynard Zabriskie, and David B. Zelikoff

Developments in Executive Compensation, Fringe Benefits, and Information Reporting: Advance Planning to Reduce Audit, Class Action, and Whistleblower Challenges | April 13 | Tax Executives Institute, Inc. (TEI) Seminar presented by Mary B. (Handy) Hevener, Rosina Barker, Jeanie Cogill, Jonathan Zimmerman, and Cosimo Zavaglia

TEI 2017 Federal Tax Course – Level I | April 24–28 | TEI Seminar presented by Mary B. (Handy) Hevener and Samantha (Sam) Souza

Retirement Plans: Steering the Fiduciary Ship | April 25 | Seminars presented by Morgan Lewis, Grant Thornton, and Fiduciary Investment Advisors (FIA) | Morgan Lewis Seminar Panelist Amy Pocino Kelly

TEI Minnesota Chapter 34th Annual President’s Seminar | April 25–26 | TEI Seminar presented by Mary B. (Handy) Hevener

Visit our events page for more of our latest programs.

 

On March 6, the US House of Representatives Committee on Ways and Means and Committee on Energy and Commerce released long-awaited official proposed legislative language addressing the repeal and replacement of the Affordable Care Act (ACA). As with the unofficial language leaked during the Presidents Day recess (addressed here), this proposed language—known as the American Health Care Act (AHCA)—contemplates using the 2017 budget reconciliation process, which will allow the bill to avoid a filibuster by Senate Democrats.

In contrast to the leaked language, the AHCA does the following:

  • Drops language intended to tax participants on the value of health coverage that falls above the 90th percentile of all plans
  • Retains the Cadillac Tax—but postpones it until January 1, 2025 (however, it may yet be repealed by the Senate)
  • Delays most ACA tax repeals until January 1, 2018 (likely for revenue scoring purposes)
  • Delays health savings account, health reimbursement account, and flexible spending account changes until January 1, 2018 (likely for revenue scoring purposes)

Join Morgan Lewis in March for these upcoming programs on a variety of employee benefits and executive compensation topics:

Visit our events page for more of our latest programs.

Two years ago the US Internal Revenue Service (IRS) said in one of its Employee Plans newsletters that plan sponsors were required to retain—for production on audit—documentation to substantiate 401(k) hardship withdrawals. This requirement appeared to be substantially more rigorous than the hardship withdrawal procedures followed by many plan sponsors and service providers. Those procedures typically required retention of summary information, rather than actual documents, critical to substantiation of participant hardships.

A February 23, 2017 Field Directive addressing audit guidelines for substantiation of hardship withdrawals appears to indicate the IRS’s acceptance of those common practices. It says that auditors may substantiate hardship withdrawals based on either source documents themselves or summaries of critical information from source documents. Where summaries are used, the Field Directive provides lists of relevant information that must be contained in the summaries and notifications that must be provided to participants requesting hardship withdrawals. Where summaries are incomplete, auditors are directed to request source documents. The IRS has said informally that those documents may be provided directly to the auditor by participants, rather than through the plan sponsor or service provider. Finally, if summaries are prepared and retained by service providers, the Field Directive says that plan sponsors should receive annual reports from the service providers covering those summaries.

Plan sponsors should familiarize themselves with these new audit standards and ensure that they and their auditors and service providers follow compliant procedures.