The term “work-life balance” has been around for decades. For much of that time, the struggle to attain this elusive equilibrium has typically involved having too much “work” and not enough “life.” Employers have been urged to, among other things, create dynamic paid-time-off policies and encourage employees to use their vacation days regularly and sick […]
What rules apply to “PTO buying” under a cafeteria plan?
The novel coronavirus (COVID-19) pandemic has forced many people to cancel or postpone vacations, as well as travel plans to visit friends and family. While staying home to stay safe — and, often, to telework — many employees may not use as much paid time off (PTO) this year as they normally would. In a […]
Carryover amount for Health FSAs has been increased
The IRS recently increased the carryover limit for Health Flexible Spending Arrangements (FSAs) to an amount indexed for inflation. The agency also clarified the ability of a health plan to reimburse individual insurance policy premium expenses incurred before the beginning of the plan year for coverage provided during the plan year. Boosted maximum Under IRS […]
IRS addresses CARES Act relief for retirement plan distributions and loans
The IRS recently issued frequently asked questions (FAQs) regarding retirement plan distribution and loan relief under the Coronavirus Aid, Relief and Economic Security (CARES) Act. This relief applies to qualified individuals affected by the novel coronavirus (COVID-19) pandemic. It expanded distribution options and favorable tax treatment, increased plan loan limits and delayed repayment of outstanding […]
Apply change management to today’s workforce challenges
Typically, when employers undertake major changes to how and where employees do their jobs, it’s only after copious planning and careful implementation. The novel coronavirus (COVID-19) pandemic eliminated this luxury in a matter of days for most organizations. That doesn’t mean that you still can’t apply change management — a mindful and open approach to […]
FFCRA update: DOL clarifies issues related to paid leave
The U.S. Department of Labor’s (DOL’s) Wage and Hour Division recently posted additional guidance regarding paid sick and emergency childcare leave under the Families First Coronavirus Response Act (FFCRA). Much of the guidance offers details and clarifications on the calculation of paid leave, including: How to calculate an employee’s regular rate of compensation, Whether the […]
Offering COBRA to employees furloughed because of COVID-19
In response to the novel coronavirus (COVID-19) outbreak, many employers have closed all or parts of their operations — and placed all or some employees on temporary unpaid leave in the form of mandatory furloughs. If yours has done so, or is considering it, you may wonder whether you have to offer continuing health care […]
Temporary regs address health plans and pandemic-related paid leave
The U.S. Department of Labor recently issued temporary regulations implementing the emergency paid sick and family leave provided under the Families First Coronavirus Response Act (FFCRA) and the Coronavirus Aid, Relief, and Economic Security (CARES) Act. Here are some highlights of the regs’ impact on group health plans. Maintenance of coverage Employers must maintain group […]