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Participant’s Estate Fails to Show a Claim For Failure to Give Notice of Right to Continue Life Insurance Coverage: Estate of...

by Williams Mullen on

Providing a practical lesson on determining a duty to give notice to ERISA participants, the U. S. District Court for the Middle District of Florida dismissed the claim by the estate of an ERISA group life insurance plan...more

Court Permits Beneficiary Designations By Telephone

by Williams Mullen on

In a somewhat surprising case, the US Court of Appeals for the Ninth Circuit has ruled that a participant may change his prior written beneficiary designation by a telephone call to the plan sponsor. The Becker v....more

Report From Counsel: Insights And Developments In The Law - Winter 2014/2015

by Archer Norris PLC on

In this Newsletter: - Federal Advertising Guidelines for Businesses - Case by Case - Arbitration Clauses in Employment Contracts - Life Insurance Can Be Part of Your Estate Plan - Employment...more

Divorce and Beneficiary Designations—Florida Law Changes

by Carlton Fields on

Introduction - This article discusses a significant change in Florida law regarding the effect of dissolution or annulment of marriage on designations of one former spouse as beneficiary upon death of the insured other...more

Beware of Unintended Beneficiary Designations

by Pepper Hamilton LLP on

Beneficiary designations are commonly used to name the individuals or entities who are to receive the proceeds of life insurance policies or retirement plans after the death of the owner. An increasing number of financial...more

IRS Amends Revenue Ruling 81-100 to Permit Participation in Group Trusts by Puerto Rico Plans and Insurance Company Separate...

by Goodwin on

The Internal Revenue Service (the “IRS”) issued Revenue Ruling 2014-24 (the “Ruling”). The Ruling amends Revenue Ruling 81-100, the ruling that established the requirements applicable to a tax-qualified group trust. The...more

IRS Finalizes Guidance on Rev. Rul. 81-100 Group Trusts, and Insurance Company Separate Accounts

In Rev. Rul. 2014-24, scheduled for publication on September 8, 2014, the Internal Revenue Service (the Service) substantially completed its pending guidance on Rev. Rul. 81-100 group trusts by permanently authorizing the...more

Fourth Circuit Rejects Widow’s Claim for Equitable Relief

The Fourth Circuit recently rejected fiduciary breach and equitable estoppel claims for life insurance coverage by Leslie Moon, the widow of a deceased employee, who claimed that the employer’s actions resulted in Mr. Moon’s...more

Eighth Circuit Decisions Reminds Employers Of Importance Of Granting ERISA Plan Administrators Discretion To Interpret Plan Terms

Recently, the United States Court of Appeals for the Eighth Circuit released an opinion which highlights the importance of ensuring ERISA plan documents grant plan administrators the discretion to construe and interpret the...more

ERISA 8th Circuit: Deciding Who Is The Beneficiary — The Abuse Of Discretion Standard Trumps The Substantial Compliance Doctrine

Sometimes determining the correct beneficiary for ERISA-governed life insurance benefits can present real challenges. Can the deceased’s will prove the deceased’s intent designating the correct beneficiary? It...more

Ohio Court of Appeals Upholds Constructive Trust in Favor of Unnamed Beneficiaries

The Ohio Court of Appeals imposed a constructive trust over the proceeds of an ERISA governed life insurance policy for the benefit of the decedent’s children even though the children were not named beneficiaries of the...more

Tax-Qualified Retirement Plans: Amendments and Other Year-End Action Items - 11/21/2013

by Morgan Lewis on

Plan sponsors should consider whether they need to make certain plan amendments or provide certain plan notices prior to the end of the year. The end of the year marks the deadline by which sponsors of qualified...more

Courts Do Not Always Agree

I blogged recently about a decision from a federal district court in Virginia (Eastern District) involving a widow who sought to recover life insurance benefits from her late husband’s employer-sponsored group term life...more

State Law Cannot Reallocate Life Insurance Proceeds That Accrued To Named Beneficiary Under Federal Law

The Supreme Court recently held that federal law pre-empts state law that attempts to reallocate proceeds accruing to the designated beneficiary of a federal life insurance policy. Hillman v. Maretta, 133 S. Ct. 1943 (2013)...more

Supreme Court Holds Federal Law Preempts State Law Allowing Litigation Over Proceeds of Federal Life Insurance Policy

by Littler on

Recently, in Hillman v. Maretta, the Supreme Court of the United States affirmed a Virginia Supreme Court ruling that held that federal law preempts a state law that allowed a deceased federal employee’s spouse to sue a...more

ERISA Does Not Preempt State Court Order Requiring Beneficiary to Renounce Right to Employee’s Plan Benefits, Fourth Circuit Rules

The scenario is not difficult to imagine: An employee designates her spouse as the primary beneficiary under her employer’s life insurance and retirement benefit plans. Years later, the couple divorces, and in the marital...more

Second Circuit: Deferential Standard Applies Without Notice To Participants & Reimbursement Claims Are Equitable Relief

Yesterday, the Second Circuit ruled on two important issues of note for ERISA plan sponsors and plan fiduciaries. In Thurber v. Aetna Life Insurance Co., 2013 WL 950704 (2d Cir. Mar. 13, 2013), the Court ruled that...more

Legal Solutions, March 2013

by Paul Sullivan on

Legal Solutions is the quarterly newsletter of Sullivans Law LLP Solicitors based in Belfast, Northern Ireland - UK. Included in the March 2013 edition: + confidentiality agreements + county courts jurisdiction...more

New Rules Coming into Effect Affect Retirement Plans Entering into Swaps

by King & Spalding on

New rules affecting ERISA-covered retirement plans entering into swap transactions will come into effect in May 2013. These rules, known as the “Business Conduct Standards,” implement certain provisions of the Dodd-Frank...more

IRS Releases Updated Employee Plan Correction Procedures

by Reed Smith on

On December 31, 2012, the Internal Revenue Service (the “IRS”) released Revenue Procedure 2013-12, which contains long-awaited updates to the Employee Plans Compliance Resolution System (“EPCRS”), previously set forth in...more

New Tax Guidance on Use of Annuities in Retirement Plans

On February 2, 2012, the Internal Revenue Service (IRS) and Department of Treasury, together with the White House, released four pieces of guidance with the stated purpose of easing certain burdens on providing annuity...more

Tax Relief, Unemployment Insurance Reauthorization & Job Creation Act of 2010

The 2010 Tax Act, formally named the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 (the “Act”), was signed into law by the President on December 17, 2010. Among other things, the Act...more

2010 Tax Relief Act

by Thompson Coburn LLP on

From an estate planning perspective 2010 has been a year of uncertainty. We have been waiting for Congress to act, and last Friday Congress did. President Obama signed the Tax Relief, Unemployment Insurance Reauthorization,...more

President Signs the 2010 Tax Relief Act Giving Taxpayers a Measure of Tax Certainty

On December 17, 2010, President Obama signed into law the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 (HR 4853) (the “2010 Tax Relief Act”). The 2010 Tax Relief Act extends for two...more

McAfee & Taft: AgLINC: Agriculture & Equine Industry Legal Information News & Commentary - March 2010

by McAfee & Taft on

Inside This Issue: 2 Landowner considerations when negotiating wind energy leases 3 Avoiding pitfalls associated with crop insurance 3 DOL issues rule change for workers on farms 4 Do you need to update your estate...more

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