Group Benefits

IRS Expands Tax Relief for Identity Protection

Due to growing concerns about data breaches and identity theft, some employers have started offering identity protection services to their employees as a fringe benefit. The Internal Revenue Service (IRS) has issued two pieces of guidance that address the taxability of this benefit. In August 2015, the IRS released Announcement 2015-22 to clarify that the…

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New Overtime Rule Goes Into Effect Dec. 1

On Dec. 1, 2016, the U.S. Department of Labor’s (DOL) final rule updating white collar exemption qualification requirements will go into effect. This change is expected to affect more than 4 million workers across the United States. The final rule increases the salary an employee must be paid in order to qualify for a white…

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DOL Increases Penalties for Health Plan Violations

The DOL recently issued an interim final rule that increases the civil penalty amounts that may be imposed under the Employee Retirement Income Security Act (ERISA) to account for inflation. The interim final rule increases the civil penalty amounts associated with: Failing to file an annual Form 5500 Failing to provide the annual notice regarding…

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