Global Reward Services Alerts

Employers and employees are facing workplace disruption, limits on mobility, increased expenses, and reliance on benefits related to COVID-19. Employers’ first priority was the health and safety of their workforce, with most moving to work-from-home arrangements. Organizations are now beginning to consider various reward and mobility issues that may arise in the coming weeks and months.

The Setting Every Community Up for Retirement Enhancement Act was signed into law on December 20, 2019. This new law includes various provisions aimed at expanding and preserving retirement savings.

The Treasury and IRS release regulations addressing the section 274 deduction limitations for meal and entertainment expenses as well as reflecting amendments made by the TCJA.

When a corporation undergoes a change in control, section 280G disallows a deduction for any excess parachute payments paid to a disqualified individual.

Notice 2019-18 provides that Treasury and IRS no longer plan to amend the required minimum distribution regulations under section 401 (a)(9) to prohibit offering a lump sum benefit to retirees currently receiving annuities payments.

Revenue Procedure 2019-20 provides for a limited expansion of the determination letter program for certain individually designed retirement plans.

This article focuses on notice 2018-71 which provides guidance regarding the employer credit for paid family and medical leave under Section 45S.