President Donald Trump recently signed an executive order and three memorandums to address pandemic relief in response to the ongoing impact of the coronavirus (COVID-19) pandemic. After negotiations for a relief package between the White House and lawmakers collapsed, the executive actions extend pandemic unemployment benefits, student loan payment deferrals, eviction protections for renters and payroll tax cuts.
At Armada Risk Partners, we are always evolving. We may not always know all the answers, but we know where to find them — for ourselves and our clients. And this once-in-a-century pandemic we’re now experiencing has made that learning orientation — and ability to be extremely flexible — all the more crucial.
It’s a truism of business that organizations that add the most value for their clients and other stakeholders tend to thrive. But when it came to a once-in-a-century pandemic, all bets were off for us in the early going. After all, there was no playbook for how to respond to a global pandemic sitting around on our shelf. So we decided to make one up as we went.
On May 12, 2020, the IRS released Notice 2020-29, which provides temporary flexibility for mid-year election changes under a Section 125 cafeteria plan during calendar year 2020. The changes are designed to allow employers to respond to changes in employee needs as a result of the COVID-19 pandemic.
After observing a 30-day nonenforcement period to help employers come into compliance with new paid leave rules, the U.S. Department of Labor (DOL) has announced that it is fully enforcing all provisions of the Families First Coronavirus Response Act (FFCRA).
As you know from prior alerts, the Families First Coronavirus Response Act (FFCRA) was signed into law by President Trump on March 18, 2020, and are effective this Wednesday, April 1st. After three rounds of Questions and Answers from The US Division of Labor, we have aggregated all into a singular news alert for simplification and to aid in understanding and compliance with this new legislation.
The CARES Act, in addition to providing previously mentioned SBA loans available, also makes a variety of changes affecting health plans.
In these continued challenging times, Armada wants to make sure you were aware of new programs available in response to the coronavirus (COVID-19) pandemic.
The attached compliance bulletin helps to clarify the exemptions small businesses may qualify for with regard to the Families First Coronavirus Response Act (FFCRA).
