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Cowden Times: Volume 17

Inside this Edition Cowden News National Kidney Foundation’s 2018 Kidney Walk Industry News Compliance Bulletin: DOL Updates Model FMLA Forms ACA Compliance Bulletin: Exchange Model Notice Expiration Date Extended Compliance Overview: Medicare Part D Notices Are Due Before October 15, 2018 Meet Our Team What’s Dinkin Thinkin? Emerging Trend Regarding Medical Marijuana Will Create Even … Continued

Preliminary Proposal from the Joint Select Committee on Solvency of Multiemployer Pension Plans

Tomorrow, November 30, 2018, is the deadline for the Joint Select Committee on Solvency of Multiemployer Pension Plans (JSC) to vote on and propose new legislation that attempts to solve the multiemployer pension crisis. The JSC held several hearings during the first half of 2018 to better understand the current crisis and gain perspectives from … Continued

Recent Jobs Growth Report and Hourly Wage Rate Increases Create an Urgency to Review Base Compensation Structures, Merit Pay Structures, and Career Ladders

Background  If you are in the midst of setting compensation rates for 2019, including salary budgets, you may want to consider the following facts:The results of the October jobs report indicated that 250,000 new jobs were created last month, with a majority of them in private industry.The unemployment rate held steady at 3.7%.Thousands of Americans … Continued

ACA Compliance Bulletin: Final Forms for 2018 ACA Reporting Released

The Internal Revenue Service (IRS) has released the final forms and instructions for 2018 reporting under Revenue code Sections 6055 and 6056. Links to the forms and related instructions can be found in the opening section of this Compliance Bulletin. It can be noted that the 2018 forms and instructions are very similar to those … Continued

Administration Announces Big Changes for Health Reimbursement Arrangements (HRAs)

On October 23, 2018, the Trump Administration released a proposed rule that would expand the use of Health Reimbursement Arrangements (HRAs), starting in 2020, by effectively rolling back Obama era regulations.Before the Affordable Care Act (ACA)HRAs served as a vehicle that allowed employees to purchase a non-group insurance plan of their choice. Employees submitted receipts … Continued

The SOA Releases Mortality Improvement Scale MP-2018 Plus a Second Option

An Update and a New Optional Mortality Improvement TableThe Society of Actuaries RPEC group (Retirement Plans Experience Committee) has released an updated mortality improvement scale (MP-2018) using a methodology similar to scales MP-2014 through MP-2017. The release incorporates an additional year of favorable historical experience vs. scale MP-2017. In general, the update should decrease plan … Continued

IRS Issues Guidance on Tax Credit for Paid Family and Medical Leave

The Internal Revenue Service (IRS) recently released guidance on the employer tax credit for paid family and medical leave. A tax credit is available to employers who meet certain criteria outlined in this “Compliance Bulletin.” Paid leave provided through an employer’s short-term disability program may qualify as paid family and medical leave if it meets … Continued

ACA Compliance Bulletin: Final Forms for 2018 ACA Reporting Released

The Internal Revenue Service (IRS) has released the final forms and instructions for 2018 reporting under Revenue code Sections 6055 and 6056. Links to the forms and related instructions can be found in the opening section of this Compliance Bulletin. It can be noted that the 2018 forms and instructions are very similar to those … Continued

ACA Compliance Bulletin: IRS Issues Letter 5699 to Non-Compliant Employers

The Internal Revenue Service has been sending Letter 5699 to employers that are not compliant with the Affordable Care Act (ACA) reporting requirements for the 2015 calendar year. This letter requests missing information from Applicable Large Employers (ALEs) that failed to file Forms 1094-C and 1095-C. Employers who receive this letter should respond in the … Continued

Former Employees Who Have Previously Signed A Severance Agreement Do Not Have To Return Their Severance Pay Before Suing A Former Employer

I admit to having to read this several times:  the U.S. Court of Appeals for the Sixth Circuit recently ruled that former employees do not have to return their severance pay before suing their former employer, if the reason for wanting to cancel the agreement relates to filing certain discrimination claims under Title VII and … Continued

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