The May edition of the Insider Report discusses recent agency rulemaking, legislative maneuvers to block new and pending rules, and state efforts to enact labor and employment laws that have stalled at the federal level.
The DOL has issued a final rule to re-define who is rendered a "fiduciary" of an employee benefit plan under the Employee Retirement Income Security Act (ERISA) by providing investment advice to a plan or its participants or beneficiaries.
The IRS is inviting comments on several new compliance questions contained in the 2015 IRS Form 5500/5500-SF, the annual report filed by retirement plans with the DOL and the IRS.
Michigan recently amended state law to make it clear that unless otherwise specifically provided for in the franchise agreement, a franchisee is considered the sole employer of workers to whom it pays wages or provides a benefit plan.
The Puerto Rico Treasury recently issued an Administrative Determination eliminating the requirement to file PR Treasury Form 480.70(OE) for retirement plans whose tax year begins after December 31, 2014.
Littler's Workplace Policy Institute® (WPI™) presents the Insider Report, a monthly newsletter detailing key labor, employment, and benefits policy developments at the federal, state, local and global levels.
Santa Monica, California, became the latest municipality to enact its own minimum wage and sick leave ordinance, proposed by the City Council on January 12, 2016, and approved shortly thereafter on January 26, 2016.
The IRS recently issued Notice 2016-03, addressing several items with respect to changes made to the IRS’s determination letter program, and extending the deadline for sponsors to adopt a pre-approved defined contribution plan in certain instances.
