Employee Benefits Legal Update Inland HR Management Conference Diane V. Dygert Ben Conley

Employee Benefits Legal Update

Inland HR Management Conference

Diane V. Dygert

Ben Conley

Legal Disclaimer

The contents of this presentation should not be construed as legal advice or a legal opinion on any

specific facts or circumstances.

These materials are intended for general information purposes only, and you are urged to consult a lawyer concerning your own situation and any specific legal

questions you may have.

2 | ©2014 Seyfarth Shaw LLP

Today’s Roadmap

• Same-sex marriage developments• ACA challenges• IRS ACA reporting forms• DOL versus SEC


Same-Sex Marriage Update

• Same-Sex Marriages►Windsor decided June 2013

•Federal DOMA unconstitutional

►IRS – retroactive impact on retirement plans (Notice 2014-19) ►State Bans on Same-Sex marriage

•Split created by 6th Circuit•Supreme Court to hear Obergefell v. Hodges on April 28•May states limit marriage to a man and a woman•Must states recognize same-sex marriage performed in other states

►Map has been rapidly evolving


No recognition Same-sex

marriage Pending court challenge

Ct challenge & Recognize other states

States’ Position on Same-Sex Unions

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ACA Exchanges

• Federally established exchanges►Several states refused to establish their own Exchange ►Other states partnered with the Federal government to assist


ACA Exchanges

Establishing State Exchanges?

State Exchange State/Federal Partnership Federal Exchange 7 | ©2015 Seyfarth Shaw LLP

ACA Exchanges

• King v. Burwell – ►ACA authorizes subsidies on exchanges “established by the

state”►Question heard by SCOTUS

• Does the language of the ACA mean taxpayers in states with Federal exchange are not eligible for a subsidy?

►Oral arguments on March 6, 2015►Court decision will not be published until late June 2015


IRS ACA Reporting

• When? ►2015 – first year reporting required (due in 2016)

• Who? ►6055: Providers of minimum essential coverage (insurers and

sponsors of self-funded plans), and ►6056: Applicable large employers (ALEs) subject to the

employer mandate

• What?►1094 and 1095 B series

• Insurance providers of minimum essential coverage

►1094 and 1095 C series• ALEs

©2013 Seyfarth Shaw LLP9 |

IRS ACA Reporting Forms






DOL v SEC on Fiduciary Rules

• White House Economic Advisors’ January memorandum ►Abusive trading practices cost workers $8-17 billion in retirement

savings annually►Suggests DOL re-propose its fiduciary rule to require brokers to

act in clients’ best interests

• DOL indicated that it will re-issue its fiduciary rule (originally enacted in 1975)

• Wall Street reacts►SEC indicates protections already in place through their rules

• Congress acts:►Bill introduced that would force the DOL to wait until SEC has

acted ►Demands proof that DOL is coordinating with SEC

©2013 Seyfarth Shaw LLP13 |

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Documents

Employee Benefits Legal Update Inland HR Management Conference Diane V. Dygert Ben Conley