We are pleased to welcome Jeffrey Penn as the newest attorney to join Boutwell Fay LLP!

Attendees will learn the basics about different types of M&A transactions and their impact on employee benefits, key issues to look out for and potential pitfalls to avoid.

The Internal Revenue Service (“IRS”) recently released the final 2025 Instructions for Forms 1094-C and 1095-C (“2025 Instructions”). Though self-insured employers and applicable large employers have been required to file these forms with the IRS—and furnish copies of forms to their employees—for over a decade, we regularly assist employers who have questions about (or have received proposed penalty notices related to) these forms.

This week the IRS finalized and announced retirement plan and related limits for 2026. Many categories were increased, but the annual the elective deferral limit for 401(k) and 403(b) plans and the compensation used to determine Highly Compensated Employee status remained the same. Notably, the IRS unexpectedly increased the FICA wage threshold for Roth catch-up contributions from $145,000 to $150,000 for catch-up contributions made in 2026.

As we approach the new year, it’s time to review the updated contribution and limit amounts for 2026. The IRS has announced increases across several key areas, including HSAs, FSAs, and other employee benefit accounts.

Nonprofit organizations often look for ways to attract and retain key executives through deferred compensation arrangements. Three common approaches are the 457(b) plan, 457(f) plan, and split-dollar life insurance plan. Each can supplement retirement benefits, but they differ in eligibility, funding, and tax treatment.

The Mental Health Parity and Addiction Equity Act (MHPAEA) was enacted in 2008 and generally prevents most group health plans that provide mental health and substance use disorder (MH/SUD) benefits from imposing more restrictive coverage limitations on those benefits than on medical/surgical (M/S) benefits.

As we head into the last quarter of the year, plan sponsors should be mindful of the upcoming SECURE 2.0 Act deadline for mandatory Roth catch-up contributions, effective January 1, 2026. The SECURE 2.0 Act was passed on December 23, 2022, so its amendment of Internal Revenue Code Section 414(v) to require mandatory Roth catch-up contributions isn’t new news.

Section 1557 of the Affordable Care Act (“ACA”) provides individuals shall not be subject to discrimination on the basis of sex under a health program or activity that receives federal financial assistance or is administered by an Executive Agency.  (42 USC 18116(a)).  As discussed in our blog post regarding United States v. Skrmetti, the contours of Section 1557’s prohibition of discrimination on the basis of sex remain a hotly litigated issue.

Join Boutwell Fay LLP as we will walk through common Form 5500 errors, what happens if you don’t make a filing deadline and how to avoid (or, if needed, appeal) Form 5500 late filing penalties.

We are proud to share that The Best Lawyers in America® has recognized two of our partners in its 2026 Edition.

As we’ve advised, the times are changing when it comes to what participants’ retirement plan investment options.  On Thursday, August 7, 2025, the president signed an executive order to allow 401(k) participants to join institutional investors and non-ERISA retirement plans in investing in alternative investments like private equity, cryptocurrency, and real estate.  The order is aimed to place ERISA regulated 401(k) and defined contribution plan participants on an equal play

In her recent Daily Journal article "Strategic Connections Can Power Practice Growth," Sherrie Boutwell, partner at women-owned ERISA firm Boutwell Fay LLP, highlights collaboration as a key growth strategy for niche law firms.

The One Big Beautiful Bill Act (“Bill”) did not extend the enhanced premium tax credits (“PTCs”) which help make health insurance purchased through the marketplace (e.g., Covered California) more affordable for millions of Americans. The Affordable Care Act’s employer shared responsibility penalties are only imposed in situations where a full-time employee receives a PTC or cost-sharing reduction.

Each employer that sponsors a 403(b) plan which uses a pre-approved plan document must ensure that document is restated to account for changes in law by December 31, 2026.  Especially because organizations in the nonprofit and public sectors often face resource and staffing constraints, it’s crucial they start the restatement process now. 

Following up on our prior post on private equity investments in 401(k) plans, the Ninth Circuit Court of Appeals has now dismissed a six-year-long lawsuit brought by Intel employees against the company. The lawsuit centered on Intel’s inclusion of private equity and hedge funds in its 401(k) defined contribution plans, alleged that offering these investment options violated fiduciary duties under the Employee Retirement Income Security Act (ERISA).

On June 18, 2025, the majority of the United States Supreme Court held Tennessee’s law prohibiting access to gender-affirming care for certain minors was permissible under rational basis review. The Tennessee law at issue, SB1, forbids healthcare providers from providing puberty blockers or hormones to minors.

Holiday Reminder: Please note that our office will be fully closed on Friday, July 4th.

In the five months since the Trump Administration took the reins in Washington, DC, we have seen a flurry of changes affecting employee benefit plans: both retirement plans and health and welfare plans.  In this post, we focus on a few of the recent retirement plan changes relating to plan investments.

We are proud to announce that Boutwell Fay LLP has been recognized in the 2025 California Edition of Best Law Firms®, ranked by Best Lawyers®.