News & Analysis as of

Compensation & Benefits Department of Labor (DOL) Employee Retirement Income Security Act (ERISA)

Littler

July is Still the New January! Littler’s Workplace Policy Institute’s Mid-Year Legislative Report

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Hot off the press – here is Littler’s mid-year report!  As federal regulators, states and cities continue to pass new workplace regulations through the calendar year, we summarize each state’s notable labor and employment law...more

K&L Gates LLP

QPAM Exemption Amendment—Key Takeaways and Action Steps for Advisors and Other Stakeholders

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Executive Summary - Many investment advisers and other financial institutions rely on the Department of Labor’s QPAM Exemption when providing services to, and transacting with, employer-sponsored retirement plans, individual...more

Morris, Manning & Martin, LLP

Expanded Fiduciary Rule Finalized By DOL

Lost amidst the hoopla of invalidated non-competes and overtime rules, the U.S. Department of Labor issued its long-awaited final fiduciary rule (the “Final Rule”) yesterday. The Final Rule is more limited in scope than the...more

Snell & Wilmer

Donning the Plan, Forgetting the Top Hat: A Common Oversight in ERISA Compliance

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When drafting a deferred compensation plan or agreement for a key employee (a “top hat plan”), the focus is almost always on the terms of the plan. In the process, many employers miss a crucial step—filing the top hat...more

Bricker Graydon LLP

2024 Inflation Adjustment to DOL Penalties

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The Department of Labor recently announced the 2024 inflation adjustments for ERISA-related penalties applicable to health and welfare and retirement plans. Applicable penalties increased for 2024 as follows...more

Proskauer - Employee Benefits & Executive...

DOL Announces Temporary Enforcement Policy and Guidance to Address New Compensation Disclosure Requirements for Service Providers...

On December 30, 2021, the U.S. Department of Labor (“DOL”) issued Field Assistance Bulletin No. 2021-03 (“FAB”), announcing its temporary enforcement policy for group health plan service provider disclosures under ERISA...more

Keating Muething & Klekamp PLL

Benefits Monthly Minute - January 2022

The January Monthly Minute highlights the new OTC COVID-19 test coverage mandate (eff. January 15, 2022), group health plan provider compensation disclosure rules, and updated standards for ERISA plan financial statement...more

Proskauer - Employee Benefits & Executive...

DOL Statement on Private Equity Investment Emphasizes Fiduciary Responsibility

On December 21, 2021, the Department of Labor (the “DOL”) published a Supplemental Statement (the “Supplemental Statement”) to its June 3, 2020 Information Letter (the “2020 Letter”) addressing fiduciary considerations for...more

Dechert LLP

The Pendulum Swings – Department of Labor Changes Its Tone for Private Equity Under 401(k) Plans

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Last week, the U.S. Department of Labor (the "DOL") on December 21, 2021 issued a supplement (the “2021 Supplement”) to a June 2020 Information Letter (the "2020 Information Letter") that had addressed the possible use of...more

Verrill

Employee Benefits & Executive Compensation 2021 Summer Client Advisory

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This Client Advisory summarizes developments in the law governing employee benefit plans prompted by the COVID-19 pandemic. We explain what these developments mean for plan sponsors and highlight the need to adopt plan...more

Laner Muchin, Ltd.

DOL Issues Implementation FAQs Regarding the Lifetime Income Illustrations for Defined Contribution Plans

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The Setting Every Community Up for Retirement Enhancement Act of 2019 (SECURE Act) amended the Employee Retirement Security Act of 1974 (ERISA) to add two lifetime income illustrations, furnished at least annually, to plan...more

Stinson LLP

DOL Issues FAQs on SECURE Act Lifetime Income Illustrations and Interim Final Rule

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On July 26, 2021 the Department of Labor’s (DOL) Employee Benefits Security Administration issued a set of four frequently asked questions (FAQs) that address the implementation of Section 203 of the Setting Every Community...more

Proskauer - Employee Benefits & Executive...

ERISA Disclosure Requirements for Service Providers Extended to Group Health Plans

The recently enacted Consolidated Appropriations Act of 2021 (“CAA”) requires new disclosures for brokers and other consultants providing services to certain group health plans. Under the CAA, “covered service providers”...more

Snell & Wilmer

2020 End of Year Plan Sponsor “To Do” List (Part 1) Health and Welfare

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We are pleased to present our annual End of Year Plan Sponsor “To Do” Lists. This year, we present our “To Do” Lists in four separate Employee Benefits Updates. This Part 1 covers year-end health and welfare plan issues....more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Being aggressive could be a bad idea

Many years ago, I was contacted by a bank that had an issue. For 20 years, they didn’t include bonuses as part of their plan’s compensation, even though it was supposed to be included. I told them that the only option was an...more

Ogletree, Deakins, Nash, Smoak & Stewart,...

Compass: Insights And Direction For Employers – Winter 2020

With the start of a new year, in-house counsel and human resources professionals will want to be aware of what’s on the horizon for 2020 and beyond. It’s a good time for employers to take a breath and consider what issues...more

King & Spalding

DOL’s Proposed Electronic Disclosure Regulations for Retirement Plans

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On October 22, 2019, the U.S. Department of Labor (DOL) announced proposed regulations that would allow disclosures for retirement plans to be posted online. The proposal aims to make retirement plan disclosures more...more

Proskauer - Employee Benefits & Executive...

Best Practices in Administering Benefit Claims #4 – Know (and Understand) the Law: Full and Fair Review

This week in our blog series on best practices in administering benefit claims, we discuss the importance of knowing and, importantly, understanding the laws governing benefit claim administration. Section 503 of ERISA...more

Akerman LLP - Health Law Rx

Tread Carefully – DC Federal Judge Weakens Association Health Plan Regulation

A recent ruling by the United States District Court for the District of Columbia calls into question the recently expanded regulations allowing small employers to band together to establish Association Health Plans....more

Neal, Gerber & Eisenberg LLP

Employee Benefits Alert

Use of Forfeitures for Safe Harbor Contributions, QNECS and QMACS - The Internal Revenue Service (IRS) recently issued final regulations allowing forfeitures in 401(k) plans to be used to fund safe harbor contributions,...more

Husch Blackwell LLP

Association Health Plans Are Drawing A Lot Of Attention, Including Some Pushback

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This is the third article in our series on Association Health Plans (AHP). This week’s discussion focuses on the mixed reaction to the recent Department of Labor (DOL) AHP. In the health benefits market, some state-based...more

Stinson LLP

Association Health Plans Present Opportunities for Employers

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New guidance helps plan sponsors and employers manage and operate AHPs - The Department of Labor (DOL) and Internal Revenue Service (IRS) recently released guidance related to the DOL's June 28th final rule on association...more

Mintz - Employment Viewpoints

Association Health Plans and the Sale of Group Health Insurance “Across State Lines”

In advance of issuing the Executive Order that culminated in the promulgation by the Department of Labor of proposed regulations expanding the availability of Association Health Plans, President Trump announced that one of...more

Winstead PC

Updates for the New Year - Executive Compensation & Benefits

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In spite of certain sound bites you probably heard late last year, the Affordable Care Act (“ACA”) was not repealed for employers. The individual mandate penalty was reduced to zero for a few years, beginning after 2018, so...more

Seyfarth Shaw LLP

Issue 117: DOL Issues Proposed Rules On Association Health Plans

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This is the one hundred and seventeenth issue in our series of alerts for employers on selected topics on health care reform. This series of Health Care Reform Management Alerts is designed to provide an in-depth analysis...more

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