Bulletins

IRS sets 2018 limits for FSA, HSA, 401(k)

The IRS announced the 2018 contribution limits for multiple tax provisions, including cost-of-living adjustments for Flexible Spending Accounts (FSAs), Health Savings Accounts (HSAs) and pension plan and 401(k) accounts. The limits for each have been increased to deliver greater tax-saving...

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Creditable Coverage notice is annual CMS requirement

Deadline for distribution is October 15; second disclosure deadline linked to plan year

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IRS announces 2018 HSA contribution limits

The IRS announced the 2018 health savings account (HSA) maximum contribution limits detailed in the newly released Revenue Procedure 2017-37The annual limit on contributions will increase by $50 for individuals and $150 for families.

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EEOC issues sample wellness notice

For employer sponsored wellness programs, the Equal Employment Opportunity Commission (EEOC) has posted a sample notice to help companies comply with their obligations under a recently issued Americans with Disabilities Act (ADA) rule.

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DOL fiduciary regulations affect plan sponsors

On April 6, 2016, the U.S. Department of Labor (DOL) released its final rule on fiduciary investment advice (Fiduciary Rule) that significantly broadens the types of activities which will qualify as fiduciary investment advice under the Employee Retirement Income Security Act (ERISA).

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2017 401(k) contribution limits static for employees, increased for employers

For 2017, employee 401(k) contributions will once again cap at $18,000 while still allowing an additional $6,000 “catch-up” contribution for those age 50 or older. Total maximum contributions from both sources (employee and employer combined) will increase by $1,000.

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IRS announces 2017 HSA contribution limits

The IRS has announced the 2017 Health Savings Account (HSA) maximum contribution limits detailed in the newly released Revenue Procedure 2016-28. HSA contribution and plan limits will remain mostly unchanged for 2017, with only the individual HSA contribution limit increasing by $50.
 
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Taxpayers beware; email phishing schemes on the rise

The Internal Revenue Service renewed a consumer alert after seeing an approximate 400% surge in phishing and malware incidents so far this tax season. The emails are designed to trick taxpayers into thinking they are receiving official communications from the IRS or others in the tax industry,...

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DOL to release new fiduciary standard

The financial services industry is eagerly awaiting the release of the Department of Labor’s (DOL) final rule on a revised fiduciary standard. According to the Wall Street Journal, the final rule will be unveiled April 6. The Department’s initial draft of the rule was met with controversy...

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Creditable Coverage notice is an annual CMS requirement

Deadline for distribution is October 15; second disclosure deadline linked to plan year. Employers have an annual obligation to issue a Creditable Coverage notification to all plan participants who are Medicare eligible, including dependents and retirees. The notice informs Medicare-eligible...

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