Treasury Department and IRS Publish Final Hybrid Plan Regulations and Announce Extension of Required Amendment Date for Certain Hybrid Plan Provisions

Anne M. Meyer • November 26, 2015

The Treasury Department and the IRS recently issued final regulations (the “2015 Final Regulations”) relating to hybrid retirement plans, including cash balance pension plans.

The 2015 Final Regulations provide anti-cutback relief to allow hybrid plans to be amended to change the interest crediting rate to an interest crediting rate that is a market rate of return as described in the hybrid plan final regulations issued in 2014 (the “2014 Final Regulations”).

The 2015 Final Regulations allow plan sponsors additional time to amend hybrid plans to comply with the 2015 Final Regulations as well as certain provisions of the 2014 Final Regulations.  Plan sponsors have until the first day of the first plan year that begins on or after January 1, 2017 to amend hybrid plans to implement the 2015 Final Regulations and certain provisions of the 2014 Final Regulations.

Plan sponsors should note, however, that not all provisions of the 2014 Final Regulations have been extended.  Accordingly, plan sponsors should review their hybrid plans to determine whether any amendments need to be made prior to January 1, 2016.

A link to the 2015 final regulations is here.

Employee burnout: what it is and how to prevent it

By Mardy Gould • May 24, 2024
Employee burnout has become an epidemic in today’s modern workplace. So much so that the World Health Organization (WHO) officially recognizes it as an “occupational phenomenon.”1 While many used to consider mounting workplace stress an individual employee problem, these days, it’s become an employer’s responsibility to prevent burnout before it hurts productivity and business performance—not to mention your employees’ physical and mental health. Luckily, you can prevent burnout from affecting your workforce in several ways. This article will explore the causes and signs of employee burnout and the steps you can take to create a positive work environment where employees feel safe from toxic stress levels.

Form 720 and PCORI fee FAQs

By Mardy Gould • May 23, 2024
If you're a small business owner, you may have heard of the acronym PCORI and the fees that come with it. But what is PCORI, and how does it apply to your organization? Under the Affordable Care Act (ACA), sponsors of self-insured health plans must pay a fee to fund the federal Patient-Centered Outcomes Research Institute (PCORI). PCORI is an independent organization the ACA created to conduct research to help healthcare consumers make better decisions for their specific needs and outcomes. It also performs research related to clinical effectiveness. Employers offering a self-insured medical reimbursement health plan, such as a health reimbursement arrangement (HRA), must pay this fee by July 31 each year via Form 7201. This fee was initially set to expire in 2019, but Congress extended it through September 30, 20292, due to the Further Consolidated Appropriations Act of 20203.
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