Recent guidance from the U.S. Department of Labor and other developments in the public and private sectors signal that the use of cryptocurrency is starting to gain a substantial foothold in employment and compensation. For employers of all sizes and stripes, this trend should call for both excitement and caution.

First, last month the DOL’s

The U.S. Department of Labor (DOL), Employee Benefits Security Administration, (EBSA),  on March 10, 2022 released Compliance Assistance Release No. 2022-01, 401(k) Plan Investments in Cryptocurrencies.

The DOL indicates that it has become aware of firms marketing investments in cryptocurrencies as potential investment options for 401(k) plan participants. The DOL cautions plan fiduciaries to

A unanimous U.S. Supreme Court (8-0, Justice Barrett recused) overturned a decision by the U.S. Court of Appeals for the Seventh Circuit which had dismissed a case brought by plan participants involving the fiduciary obligations of an ERISA plan sponsor in the selection of funds in its 403(b) plans. The case is remanded and will

The IRS recently issued FAQs regarding the temporary, 100% COBRA subsidy created by the American Rescue Plan Act of 2021 (“Rescue Plan Act”).  This subsidy is available to “Assistance Eligible Individuals” for COBRA continuation coverage during the period April 1, 2021 through September 30, 2021.  We previously covered developments relating to the COBRA subsidy in

Contained within the recent Stimulus Bill is the Taxpayer Certainty and Disaster Tax Relief Act of 2020. Section 214 of that Act provides flexibility for Health Flexible Spending Accounts (Health FSA) and Dependent Care Accounts (DCA).


HFSAs and DCAs have certain limitations and restrictions known as the ‘use or lose’ rule, which generally provide

The Internal Revenue Service (IRS) has announced that the amount employees may contribute to their 401(k) and 403(b) plans next year remains at $19,500.  The IRS announced this week its inflation adjustments for 2021, including:

  • Overall contribution limit for defined contribution plans increases from $57,000 to $58,000 (but see catch-up contributions below).
  • Catch-up contributions for

Notwithstanding all the news about repeal and changes to the Affordable Care Act, we are aware that the Internal Revenue Service is enforcing current provisions and assessing penalties.

Enforcement of the 2015 Employer Mandate Penalty

The IRS has announced that it will assess employer mandate penalties for the 2015 tax year.  Employers who had 100