News & Analysis as of

Retirement Plan Employee Benefits Life Insurance

Carlton Fields

Expect Focus - Volume II, May 2024

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Last Lap in SEC RILA Rulemaking Critical Unresolved Issues - Congress directed the SEC to adopt a new registration statement for registered indexed annuities (RILAs) by the end of June. Several months ago, the SEC...more

Carlton Fields

Expect Focus - Volume I, January 2024

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Funds Not Caged by SEC Names Rule Amendments: Roaming Room Remains - The SEC recently adopted amendments to its investment company “names” rule that apply to most SEC-registered funds, including underlying funds in which...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

A Defined Benefit Plan isn’t about selling insurance

While the talk about retirement plans is usually centered on 401(k) plans, the value of a defined benefit plan for those companies that could afford it should not be discounted. Thanks to the generous deductible contribution...more

Pietragallo Gordon Alfano Bosick & Raspanti,...

ERISA: A Journey from a Promise of Protection to a Retirement Crisis

The closure of the Studebaker-Packard Corporation car manufacturing plant in 1963 was a major catalyst leading into the enactment of the Employee Retirement Income Savings Act of 1974 (“ERISA.”) ...more

Saul Ewing LLP

The Friday Five: Five Current ERISA Litigation Highlights - February 2022

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This month’s Friday Five explores recent decisions that elucidate the difference between disputes that call upon the discretion and judgment of a court compared to disputes where the court is called upon to follow...more

Jackson Lewis P.C.

Eleventh Circuit Highlights Importance of Unambiguous Disclaimers in SPDs

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The Eleventh Circuit recently affirmed an Alabama district court’s decision granting summary judgment in favor of Allstate Insurance Company in a consolidated ERISA class action challenging Allstate’s decision to stop paying...more

Carlton Fields

DOL Warms Up to Private Equity in 401(k) Plans

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On June 3, 2020, the Department of Labor provided valuable insights via an information letter addressing private equity investment (PEI) within defined contribution retirement plans (such as 401(k) plans). ...more

Carlton Fields

Supreme Court Shuts Door on Defined-Benefit Plan Participants’ ERISA Suits

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In a recent 5–4 decision, the U.S. Supreme Court shut the door on defined-benefit plan participants’ standing to sue under the Employee Retirement Income Security Act of 1974 (ERISA)....more

Robinson+Cole ERISA Claim Defense Blog

Connecticut District Court Enforces ERISA Venue Provisions and Dismisses Lawsuit with No Connection to Connecticut

In Cook v. Life Insurance Company of North America et al., No. 3:20-cv-139, the plaintiff, Robert Cook, sued Life Insurance Company of North America (LINA), and its indirect corporate parent, Cigna Corporation, for denial of...more

Obermayer Rebmann Maxwell & Hippel LLP

Important Retirement Account Changes Under the SECURE Act

In a spending bill passed in December 2019, Congress enacted the SECURE Act, changing several laws governing retirement plans, some of which increase your ability to save for retirement while others require an immediate...more

Constangy, Brooks, Smith & Prophete, LLP

Benefits Considerations In Light Of Changing Employment Conditions And The COVID-19 Pandemic

In light of the current COVID-19 health care crisis, employers are considering numerous options in the face of closed businesses and reduced income. These considerations include reducing employee work hours, furloughing...more

Stinson LLP

SECURE Act Impact on Estate Planning

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The Setting Every Community Up for Retirement Enhancement (SECURE) Act was made a part of the appropriations bill late in 2019 and was signed into law on December 20, 2019....more

Carlton Fields

Court Sheds Light on ERISA’s Fiduciary Exception to Attorney-Client Privilege

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A federal district court in Ohio recently attempted to shed some light on when internal communications between an ERISA plan administrator and its in-house counsel are discoverable and when they are protected by the...more

Carlton Fields

Sixth Circuit Holds Employer Has No Duty to Notify of Conversion Options

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The Sixth Circuit recently held that an employer had no duty to notify employees of conversion options in group life insurance policies. ...more

Carlton Fields

Fifth Circuit Vacates DOL Fiduciary Rule

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On March 15, the Fifth Circuit, in Chamber of Commerce, et. al. v. United States Department of Labor, a 46-page opinion, reversed the district court’s ruling upholding the Department of Labor (DOL) fiduciary rule and vacated...more

Carlton Fields

Did Santa Give the Insurance Industry a Lump of Coal or a Diamond in the Rough? The Proposed Suitability and Best Interest...

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As reported in our November 28 client alert, the National Association of Insurance Commissioners’ (NAIC) Annuity Suitability Working Group (Suitability WG) circulated the proposed Suitability and Best Interest Standard of...more

Carlton Fields

The DOL Fiduciary Rule: Charting a Course, Avoiding Collisions & Potential Litigation Q&A #4 - Q&As on Annuity Sales Practices,...

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For the past several months, we have written about potential litigation issues under the “revised temporary” DOL Rule involving the offer and sale of annuities in the IRA market. This article continues that discussion. ...more

Carlton Fields

The DOL Fiduciary Rule: Charting A Course, Avoiding Collisions & Potential Litigation Q&A #4 - Q&As on Annuity Sales Practices,...

Carlton Fields on

For the past several months, we have written about potential litigation issues under the “revised temporary” DOL Rule involving the offer and sale of annuities in the IRA market. This article continues that discussion. Recall...more

Carlton Fields

Summary Judgment Win for Insurer in “Stable Value” Interest Rate Setting Case

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In July, MetLife obtained a win in the Northern District of Illinois when the court granted summary judgment in its favor on a claim that it had breached the duty of good faith and fair dealing in setting interest rates for a...more

Carlton Fields

The Fiduciary Rule Status Update

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On April 8, the Department of Labor published the so-called "Fiduciary Rule." It defines who is an employee benefit plan’s "fiduciary" for purposes of the Employee Retirement Income Security Act (ERISA) and the Internal...more

Dickinson Wright

Company Liable for Not Providing Accurate Information about Benefits

Dickinson Wright on

A recent court case, Erwood vs Life Insurance Company of North America, is a reminder that plan sponsors must understand the terms of their welfare and retirement benefit plans, and ensure that their staff follows the...more

Carlton Fields

What’s Your Game Plan? Offensive or Defensive: Playing to Your Strengths [Expect Focus – October 2016]

Carlton Fields on

- AXA Prevails at First Post-Jones v. Harris Excessive Fee Trial - Potential Secondary Effects of Regulatory Examinations: Evidentiary Issues and Preclusion in Parallel Litigation - On The Horizon: Global...more

Carlton Fields

For Life Insurers and Agents – A Summary of Predicted Litigation Under the DOL’s Proposed Fiduciary Rule

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The Department of Labor’s recent Proposed Rule (the “Proposal”), which defines the term “fiduciary” as it applies to persons who provide “investment advice” to ERISA plans and IRAs, will impact the likelihood and severity of...more

Chambliss, Bahner & Stophel, P.C.

Starting a New Job? Consider These Tips When Signing Up for Employee Benefits

When you start a new job you may be offered a wide range of employee benefits, from retirement accounts to life insurance. If you are the parent of a child with special needs, the decisions you make when signing up for these...more

Stinson - Benefits Notes Blog

Internet Posting of SPD is Insufficient

Employers know that they must prepare and distribute a summary plan description (SPD) for their ERISA benefit plans, including retirement benefits, health insurance, life insurance and disability insurance. Because of the...more

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