Recent Articles

Give Them The Documents!

Keith R. McMurdy
November 14, 2008 22:11

There are certain requirements in ERISA that employees be provided with documents like summary plan descriptions.  There is also a requirement under ERISA Section 104(b)(4) that a plan administrator must, upon written request from a participant, furnish a copy of the latest updated...

Bicycles Added To Qualified Transportation Fringes

Keith R. McMurdy
November 12, 2008 22:25

As Monty Python would say, now for something completely different. I usually write about retirement or health plans but this particular benefit caught my eye. As of October 3, 2008, a bicycle commuter benefit is added to IRC 132(f), meaning employers can reimburse certain expenses for employees who...

Dumb Business Decisions to Avoid

Keith R. McMurdy
November 06, 2008 18:38

I recently read an interesting article in the Business Law Magazine 2008 for the Northern Nevada Business Weekly written by Craig Denney, a noted criminal attorney.  Unfortunately I cannot figure out how to link it here, but the article summarizes some "dumb" decisions that...

Mental Health Parity Act Enacted

Keith R. McMurdy
October 24, 2008 16:02

After many years of debate, the mental health parity requirements for group health plans became permanent on October 3, 2008.  These new required provisions will apply to plan years beginning after October 3, 2009.  For calendar year plans, the effective date is January 1, 2010. ...

Mental Helth Parity Act Enacted

Keith R. McMurdy
October 24, 2008 16:02

After many years of debate, the mental health parity requirements for group health plans became permanent on October 3, 2008.  These new required provisions will apply to plan years beginning after October 3, 2009.  For calendar year plans, the effective date is January 1, 2010. ...

2009 Limits for Benefit Plans

Keith R. McMurdy
October 22, 2008 21:49

Each year the U.S. Government adjusts the limits for certain plans.  These limits deal with compensation, contributions and other components of benefit plan administration.  Here are the limits for 2009: For Retirement Plans: Basic Annual Compensation Limit; $145,000 Defined...

Beware of Investment Advice in Market Turmoil

Keith R. McMurdy
October 15, 2008 23:53

At a time when the financial markets are obviously seething, plan participants can tend to be desperate for guidance about whether or not to move their money or change their retirement portfolio.  They may turn to the plan sponsor for guidance about how to better position their retirement plan...

Distributing SPDs: Intranet is Not Enough

Keith R. McMurdy
September 22, 2008 22:45

Frequently I am asked if it is good enough to just publish the new SPDs through the company intranet, making them available on-line.  I usually say no because it does not cover former employees on COBRA or dependents.  Now apparently I have a Court case that makes me right. In...

Check Your Bonus Deferral Decisions Now

Keith R. McMurdy
September 22, 2008 22:29

As we have previously discussed, performance based bonus plans are subject to Section 409A and have to be compliant by January 1, 2009.  Employers who have permitted deferral elections to be made in these plans using the "six month" rule under 409A(a)(4)(B)(iii) should review these...

New 403(b) Regulations Take Effect 1/1/2009

Keith R. McMurdy
September 17, 2008 19:42

On July 26, 2007, the IRS published final 403(b) regulations providing updated guidance on administrative requirements for these plans.  The earliest applicability for these requirements is January 1, 2009, which is just around the corner.  Below is a summary of some of the primary areas...