As 2013 draws to a close and we look ahead to 2014, there is no shortage of benefit plan administrative challenges with which employers must contend. While the Patient Protection and Affordable Care Act of 2010 (“ACA”) remains very much at the forefront of these challenges, retirement plan and deferred compensation plan administration continue to require attention. With that in mind, we offer the following non-exhaustive summary of key legal compliance matters to keep in mind while closing out this year and planning for next year.
Health Care Reform Update
Despite the waves of political and judicial attacks that are not expected to let up – and the missteps that marred the roll out of HealthCare.gov – the ACA continues to be the law of the land. The implementation of some important components of the ACA has been delayed, however, and some elements of the law have been modified. Beyond well-publicized notice and other requirements that took effect earlier this year, employers should take note of the following: