Author: Michael Rubenstein

25 Jun

The DOL Audit: Understanding the spectrum of risk

Risk is discussed in many contexts in the retirement plan industry. It comes up as a sales tactic; as good counsel from trusted advisors preaching procedural prudence; or, often, in the form of intimidating industry vernacular like fiduciary liability, fidelity bond or the big, bad Department of Labor. This DOL paranoia is an underlying motivation […]

25 Jun

How to deal with the biggest IRS issue employers didn’t know they had

It’s a common benefit to offer, and one that can add up quickly. It’s an employer paying out accumulated unused sick, vacation or any other form of financial incentive to their employees at retirement. The figures add up. In New York, an attorney in the city’s law department received a $211,779 payout after stockpiling 120 […]

25 Jun

More employers adopt HSA programs but questions remain

Health savings accounts are rising in popularity as more employers turn to high-deductible health plans as a means of saving themselves and their employees money on healthcare. Fidelity Investments says that in 2017, 112 new employers began offering health savings accounts to employees and that the company saw a 50% increase in the number of […]

Wrong assumptions plan sponsors make

“My plan only has $3 million in it. How much ERISA exposure could we have?” This question from a client who wondered whether it was worth the cost of putting in written plan policies and controls got me to thinking about why this misconception is so common. Small plan violations can result in very large […]

25 Jun

CREATES Act will lower prescription drug costs

Everyone should be able to get affordable coverage and care. Businesses, insurance providers, doctors, hospitals, and others continue to work on new ways to reverse healthcare cost trends, as we help patients get better faster — and stay healthier longer. Prescription drug costs have been a particular challenge, as they continue to represent the greatest […]

25 Jun

New Obamacare lawsuit looks like another loser

(Bloomberg Opinion) – A lawsuit against the Affordable Care Act may well turn out to be a bigger story in the news than in the courts. When the Donald Trump administration declined to defend the law, and partly endorsed the lawsuit, critics denounced it for flouting its alleged duty to defend duly enacted federal laws […]

25 Jun

Keeping compliant: Pay equity law updates

New Connecticut pay equity law On May 22, 2018, Connecticut Gov. Dannel P. Malloy signed Public Act No. 18-8, “An Act Concerning Pay Equity,” into law. The new Connecticut law follows a recent trend by states to enact laws prohibiting employers from seeking salary history from prospective employees. Connecticut now joins California, Delaware, Massachusetts (see below), […]