Katrina McCann
Katrina E. McCann is an associate in the Tax Department and a member of the Employee Benefits & Executive Compensation Group.
Katrina also has experience advising both employers and senior executives in connection with various executive compensation matters, including the negotiation and drafting of equity plans and awards, employment agreements, severance agreements and other compensation arrangements.
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On May 18, 2021, the IRS released Notice 2021-31 (the “Notice”) providing guidance on the temporary 100% COBRA premium subsidy under the American Rescue Plan Act of 2021 (“ARP”), summarized generally here. The Notice addresses how to calculate the premium subsidy and the corresponding tax credit available to premium payees, as well as the rules … Continue Reading
One important question that arises when determining whether an individual is eligible for the COBRA premium subsidy under the American Rescue Plan Act of 2021 (“ARP”) is whether the employee has experienced an involuntary termination of employment. (See our prior blogs on the ARP subsidy, here.) The IRS’s recent Notice 2021-31 (the “Notice”) provides helpful … Continue Reading
In an earlier post we reviewed the end dates for the ARP COBRA premium subsidy provided by the American Rescue Plan Act of 2021 (“ARP”), and addressed the required expiration notice. This post revisits the topic in light of the new guidance in IRS Notice 2021-31 (the “Notice”). In general, for individuals otherwise eligible for … Continue Reading
Due to tight timelines and an initial sprint to issue the special extended COBRA election period notices by the May 31st deadline, plan administrators may not have focused on the other COBRA-related notice requirements under the American Rescue Plan Act (ARP). This blog post focuses on these other notices – for individuals who become entitled … Continue Reading
The American Rescue Plan (“ARP”) offers a special 60-day election period for certain individuals who previously declined or discontinued COBRA coverage (“Assistance Eligible Individuals” or “AEIs,” as defined in ARP). These individuals may elect COBRA coverage prospectively, beginning April 1st, at no cost, as long as they are not eligible for Medicare or other group … Continue Reading
As mentioned in our earlier posts, the American Rescue Plan Act of 2021 (“ARP”) provides a 100% COBRA premium subsidy for continuation coverage between April 1 and September 30, 2021 for certain assistance eligible individuals (“AEIs”). As employers and plan administrators prepare to educate AEIs about this subsidy, they cannot overlook another necessary notice: a … Continue Reading
The DOL recently issued Field Assistance Bulletin 2021-01, blessing the PBGC’s Missing Participant Program as an additional method of addressing a perennial issue in 401(k) terminations – the problem of missing participants and beneficiaries with remaining account balances. Background. After a defined contribution plan’s termination, DOL regulations provide a safe harbor allowing the distribution of … Continue Reading
****UPDATE: These proposed regulations were not published in the Federal Register before President Biden’s inauguration. In accordance with the Memorandum for the Heads of Executive Departments and Agencies, issued by Chief of Staff Ronald A. Klain, the proposed regulations have been withdrawn for review by the Biden administration.**** On January 7th, the EEOC released proposed … Continue Reading
The DOL recently provided retirement plans with a new method to comply electronically with certain participant disclosure and notice requirements. See our blog post outlining the new DOL rule. This new method adds to the previously issued DOL safe harbor and the IRS rules. Below is a side-by-side general comparison to help plan administrators keep … Continue Reading
A recently released redacted report from the Treasury Inspector General for Tax Administration (TIGTA) offers some helpful insights for employers who may be assessed shared responsibility payments because the IRS thinks they failed to offer adequate health coverage, as required by the Affordable Care Act (ACA). The TIGTA report shows a wide gap between the … Continue Reading
On April 29, 2020, the U.S. Departments of Labor (Employee Benefits Security Administration, “EBSA”) and Treasury (IRS) published a final regulation, and EBSA issued a package of guidance and relief, for employee benefit plans affected by the COVID-19 outbreak. EBSA’s package includes (i) EBSA Disaster Relief Notice 2020-1, (ii) DOL COVID-19 FAQs for Participants and … Continue Reading
In this episode of the Proskauer Benefits Brief, partner Paul Hamburger, and associate Katrina McCann discuss the suspension of benefits rules, and the unique and interesting issues that arise when defined benefit plan participants work beyond their normal retirement age. Plan sponsors and administrators should tune in, as these rules are quite complicated and are often misunderstood. Listen to the … Continue Reading
In this episode of the Proskauer Benefits Brief, partner Robert Projansky and associate Katrina McCann discuss the recent district court case, Texas et al. v. The United States of America, which declared the Affordable Care Act (ACA) unconstitutional. On December 14, 2018, a district court judge in the Northern District of Texas deemed the entirety of the Affordable Care Act … Continue Reading
In this episode of the Proskauer Benefits Brief, Paul Hamburger, co-chair of Proskauer’s Employee Benefits & Executive Compensation Group, and associate Katrina McCann discuss how to fix retirement plan overpayments, based on (1) the type of plan (i.e., defined contribution or defined benefit plan), (2) whether the overpayment was with respect to a lump sum or ongoing payments, … Continue Reading
As promised in the FAQ issued on March 30, 2015, the U.S. Departments of the Treasury, Labor and Health and Human Services (the Departments) have issued final regulations regarding the summary of benefits and coverage (SBC) and uniform glossary for group health plans and health insurance coverage in group and individual markets under the Patient … Continue Reading
Calculating the ARP COBRA Premium Subsidy Tax Credit
By Roberta Chevlowe, Katrina McCann and Mary Grace Richardson on Posted in COBRA
A Word from the IRS on Involuntary Terminations of Employment for Purposes of the ARP COBRA Premium Subsidy
By Paul M. Hamburger, Roberta Chevlowe, Katrina McCann and Joshua E. Stephens on Posted in COBRA
All Good Subsidies Must Come to an End, Part II: The IRS Adds Some Nuances
By Katrina McCann on Posted in COBRA
You’ve Sent the COBRA Special Extended Election Period Notices – What’s Next?
By Katrina McCann on Posted in COBRA
ARP COBRA Subsidy Special Election Opportunity: Who Gets a Second Bite at the Apple, and How Do They Take It?
By Roberta Chevlowe, Katrina McCann and Mary Grace Richardson on Posted in COBRA
All Good Subsidies Must Come to an End: ARP’s Expiration Notice Requirements
By Sydney Juliano, Paul M. Hamburger and Katrina McCann on Posted in COBRA
Terminating a 401(k) Plan? The DOL Blesses Use of the PBGC Missing Participant Program
By Katrina McCann on Posted in Department of Labor
EEOC Proposed Wellness Regulation Restricts Incentives For Voluntary Programs But Offers Path For Programs That Satisfy ACA Standard
By Katrina McCann and Seth Safra on Posted in Equal Employment Opportunity Commission, Wellness Programs
Side by Side Comparison: Electronic Disclosure Rules for Pension & Welfare Plans
By Katrina McCann on Posted in Disclosure
What Employers Should Know about ACA Shared Responsibility Payments
By Katrina McCann on Posted in Affordable Care Act, Health Plan Compliance
DOL/Treasury COVID-19 Relief Includes Long Extension of Participant Deadlines and Rule of Reasonableness for Plan Administration
By Seth Safra and Katrina McCann on Posted in Coronavirus
[Podcast]: Suspension of Benefits Issues
By Paul M. Hamburger and Katrina McCann on Posted in Benefits Brief Podcast
[Podcast]: Texas Judge Declares Affordable Care Act Unconstitutional
By Robert Projansky and Katrina McCann on Posted in Affordable Care Act, Benefits Brief Podcast, Tax Reform
[Podcast]: Fixing Retirement Plan Overpayments
By Katrina McCann and Paul M. Hamburger on Posted in Benefits Brief Podcast, Fiduciary
Agencies Issue Final Regulations on the Summary of Benefits and Coverage (SBC) Requirements
By Ahuva Warburg and Katrina McCann on Posted in Affordable Care Act
