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The Coronavirus Aid, Relief, and Economic Security Act, or “CARES Act” was signed into law on March 27, 2020, in response to the Coronavirus (COVID 19) pandemic. The CARES Act provides financial assistance to small businesses impacted by COVID 19. To assist our clients in understanding what benefits may be available through this legislation, we …
by Paul J. Sundermier, Of Counsel No matter what your feelings are about PERS retirees’ benefits, this is an important case. Business persons should be as happy as some retirees with this decision because it explains how the State of Oregon needs to be able to enter into contracts in order to create infrastructure and …
By Randy Cook, Partner, Saalfeld Griggs PC A major component to any successful financial services employer is its ability to attract and retain key employees. Studies indicate that an employer’s retirement program is high on the list of factors considered by key employees when choosing an employer, second only to current compensation. With creative planning, …
By Employee Benefits & Executive Compensation Practice Group This article is intended to help plan sponsors understand the difference between retirement plan fidelity bonds and fiduciary liability insurance. Retirement Plan Fidelity Bonds The Employee Retirement Income Security Act of 1974 (“ERISA”) generally requires all retirement plans to be covered by a fidelity bond. These bonds, …
Saalfeld Griggs PC has been named a “Tier 1 Law Firm” for Employee Benefits (ERISA) Law by U.S. News – Best Lawyers® 2015 “Best Law Firms”. Randy Cook is the practice group leader for the firm’s Employee Benefits & Executive Compensation group. Firms included in the 2015 “Best Law Firms” list are recognized for professional excellence with persistently impressive ratings …
IRS Bans Pre-Tax Reimbursement of Individual Health Insurance Premiums Due to skyrocketing cost of group health insurance, many employers have opted to drop group coverage altogether and instead reimburse their employees for all or part of their individual health insurance premiums on a pre-tax basis. Under these arrangements, the employee did not pick up the …
Helping Fiduciaries Sleep Well at Night By Christine Moehl Managing a company’s retirement plan is a challenging job, too often delegated to one or two employees within the company who may have neither the time nor the skills for the task. These employees are considered “plan fiduciaries” under the Employee Retirement Income Security Act (“ERISA”). …
How to Fix Those Mistakes Before Uncle Sam Finds Them By Randy Cook Qualified retirement plans are wonderful business tools for attracting and retaining employees, maximizing tax savings, and planning for retirement. For many businesses, the company-sponsored retirement plan is one of the most valuable assets associated with the business. As such, the prospect of …
By Christine Moehl Although Health Care Reform was originally effective in 2010, so far employers have experienced relatively minor changes to the rules applicable to their health care plans. The status quo will change drastically in 2014, when the “employer shared responsibility” provisions of Health Care Reform, a.k.a., “Play or Pay” penalties, take effect. These …