Garrett Fenton Quoted Regarding Impact of Government Shutdown on Benefits Regulations in Employee Benefit News

"Shutdown crippling guidance and regulation for employee benefits"
Employee Benefit News
10.11.13Garrett Fenton is quoted regarding the shutdown of the Federal government and its impact on employee benefit regulations. The Internal Revenue Service and the Departments of Treasury and Labor have been seemingly absent in providing guidance on regulation implementation due to staff furloughs. While some practitioners contend that the shutdown has no bearing on the effective date of implementation, employers and plan sponsors may seek clarification on exactly how to comply with certain rules while awaiting the final regulations. "When we have proposed regulations, without final regulations[,] typically the agencies will allow you to rely on those proposed regulations in good faith," Fenton said. "It's not an ideal situation when you don't have final guidance before the effective date, but that does happen relatively frequently, especially in the Affordable Care Act context."
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