The Setting Every Community Up for Retirement Enhancement (SECURE) Act has now officially passed, and the need for plan sponsors and counsel to stay on high alert has increased. The bipartisan bill, signed into law by President Trump towards the end of 2019, was designed to make it easier for businesses of all sizes to offer their employees retirement plans and for employees to save for retirement. Our team will break down the new law and emphasise areas that require action. In addition to the SECURE Act, changes set forth in the Substance Use Disorder (SUD) Confidentiality Final Rule may necessitate immediate updates to agreements between the health plan or employer and service providers who receive SUD treatment information. Failure to do so can result in severe monetary penalties. The SUD final rules necessitate changes to business associate agreements, and we’ll discuss how to determine if your agreements require attention.
Elverine (Rena) Felton
Senior ERISA compliance counsel
Elverine (Rena) Felton is an ERISA attorney with over a decade of employee benefits law experience. Rena primarily focuses on employer-sponsored retirement and welfare plans and advises clients on related issues and regulatory matters. She also advises clients on maintaining compliance with ERISA, the Retirement Equity Act, IRS and other federal laws by reviewing and analysing plan provisions and how those provisions were being operationalised. Rena also helps large companies resolve group health plan compliance issues related to federal laws such as COBRA, HIPAA, cafeteria plans and healthcare reform. In addition, Rena ensures clients’ plan documents are compliant with the most recent regulations and focuses on compliance with ERISA, the Retirement Equity Act, IRS and other federal laws (HIPAA, ACA and welfare plans) by reviewing and analyzing plan provisions and how those provisions are internally operationalised.
Senior Compliance Counsel
Prior to joining Hall Benefits Law, Scott Santerre worked as an ERISA attorney as in-house counsel with some well-known insurance companies in their ERISA legal department, including New York Life and Standard Insurance Company. During his 11-plus years in the ERISA retirement space, he has assisted his companies’ clients maintain compliance with IRS and DOL regulations, and draft and maintain retirement plan documents and amendments. He was also the lead attorney for reviewing and advising on qualified domestic relations orders and preparing submissions to the DOL for correcting late remittance of deferrals and loan repayments.