Benefit Plan Sponsors Employee Benefits

News & Analysis as of

Benefits Litigation Update – July 2015

Welcome to the new, rejuvenated version of the Benefits Litigation Update, which we bring you jointly with the law firm of Epstein Becker Green. Our goal is to provide a concise and, we hope, insightful glimpse into recent...more

The IRS Tosses Plan Sponsors a Curveball: New Guidance Throws Out One Method of Pension Plan De-Risking

In recent guidance, the IRS surprised plan sponsors with its plan to prevent them from using one means of “de-risking” their defined benefit pension plans to reduce their pension plan liabilities. In Notice 2015-49, the IRS...more

Employee Benefits Developments - June 2015

Supreme Court: Plan Fiduciaries Have a Continuing Duty to Monitor Plan Investments. In 2007, participants and beneficiaries under a 401(k) plan sued the plan fiduciaries and the plan sponsor to recover damages for alleged...more

Oregon Governor Kate Brown Signs “Fair Shot” Legislation into Law—Employers Beware!

Oregon Governor Kate Brown signed a package of four bills into law on Monday, three of which will directly impact Oregon employers. Specifically, it requires even small employers to give up to 40 hours of paid sick time,...more

The Supreme Court Addresses Federal Health Care Subsidies and Same-Sex Marriage

Two recent Supreme Court decisions have implications for employee benefit plan sponsors: King v. Burwell, decided June 25, 2015, and Obergefell v. Hodges, decided June 26, 2015....more

Reminder: Non-Grandfathered Plans Must Implement Embedded Out-of-Pocket Maximums

As employers and plans prepare for 2016 open enrollment, they must be sure to address in their benefit design and with their third party vendors the new embedded out-of-pocket maximum limitations on individuals that were...more

July and August 2015 Filing and Notice Deadlines for Qualified Retirement and Health and Welfare Plans

Employers and plan sponsors must comply with numerous filing and notice deadlines for their retirement and health and welfare plans. Failure to comply with these deadlines can result in costly penalties. To avoid such...more

So Same-Sex Marriage Is Legal … Now What? Important Decisions Employers Face Now

In Obergefell v. Hodges, the U.S. Supreme Court held that the 14th Amendment to the Constitution requires all 50 states to license marriages between same-sex couples and to recognize same-sex marriages performed out-of-state....more

The Supreme Court’s Same-Sex Marriage Ruling & Its Employment Implications

Unless you’ve been living under a rock, you probably are well aware that on June 26, 2015, the U.S. Supreme Court ruled that same sex couples have a constitutional right to marry and have their marriages recognized across the...more

Monthly Benefits Alert - June 2015

Supreme Court - As explained in more detail in separate alerts we issued over the past several days, the Supreme Court decided two major cases involving the Affordable Care Act and same-sex marriage. First, as described...more

Supreme Court Says Constitution Requires States to License Same-Sex Marriages

In another blockbuster 5-4 ruling authored by Justice Kennedy, in Obergefell v. Hodges, 576 U.S. ___. ____ (2015), the U.S. Supreme Court has held that the Fourteenth Amendment to the Constitution requires a state to license...more

Supreme Court Ruling on Marriage of Same-Sex Couples Has Employee Benefit Plan Implications

On Friday, the Supreme Court, overturning a Sixth Circuit Court of Appeals ruling, affirmed that the Constitution requires states to permit same-sex couples to marry and to recognize such marriages legally celebrated...more

The U.S. Supreme Court Finds a Constitutional Right to Same-Sex Marriage: Implications for Employee Benefit Plan Sponsors

On June 26, 2015, the U.S. Supreme Court issued a historic decision in Obergefell v. Hodges, holding that the Fourteenth Amendment’s Due Process and Equal Protection Clauses require states to allow same-sex marriage and to...more

DOL Report on Quality of Independent Plan Audits Shows that Plan Sponsors Must Continually Monitor Plan Compliance

The Employee Benefits Security Administration (EBSA) of the U.S. Department of Labor (DOL) recently released “Assessing the Quality of Employee Benefit Plan Audits,” a comprehensive report reviewing the quality of audit work...more

The One Mutual Fund Family Lineup

You must know about the shoemakers’ children and how they go barefoot and have no shoes. In the retirement plan industry, we have retirement plan providers and their employees’ retirement plan. I know, I have been there....more

Department of Labor Proposes New Fiduciary Regulation and Prohibited Transaction Exemption Relief for Investment Advice...

On April 20, 2015, more than three years after withdrawing a similar proposal that was staunchly opposed by the financial services industry, the U.S. Department of Labor (DOL) published in the Federal Register a proposed...more

More ERISA Complications

In passing the Employee Retirement Security Act of 1974 (“ERISA”), Congress sought to make it as easy and economical as possible for employers to provide benefits to their workers; for example, pensions, health insurance,...more

Locke Lord QuickStudy: IRS Changes Retirement Plan Correction Program (EPCRS)

The Internal Revenue Service (IRS) recently issued two revenue procedures that modify the Employee Plans Compliance Resolution System (EPCRS). EPCRS sets forth the various correction programs and correction methodologies for...more

Case Alert: Employee Benefits Insurance – Does Coverage Apply to Employees Working Overseas?

What happened? In Rai v Legal & General Assurance Society [2015] EWHC 170, the English High Court decided that coverage was not available under an employee benefits insurance policy due to the operation of an exclusion in...more

ERISA: Sometimes A Government Employee’s Benefits Could Be Governed By ERISA?

You already know that employee benefit plans established by governmental entities are exempt from ERISA. But ERISA might apply if the employee benefit for the government employee is established through an association....more

DOL Issues Final Rules on Annual Funding Notice for Defined Benefit Plans

The Department of Labor recently issued final regulations implementing the annual funding notice that defined benefit plans are required to provide under Section 101(f) of ERISA. The final regulations are similar to the...more

Why bad funds remain in 401(k) plans

A few years ago, researchers from the business schools at the University of Indiana and the University of Texas at Austin looked at some data to try to figure out why many poor 401(k) investment choices linger on fund...more

Monthly Benefits Update - December 2014

Illinois Becomes the First State to Require Automatic Retirement Savings Program for Workers Without Access to a Workplace Retirement Plan - On January 5, 2015, outgoing Governor Quinn signed landmark legislation that...more

Mandatory Retirement Plans in Illinois

Is Illinois the precursor to mandatory retirement savings programs across the country the way that Massachusetts was for mandatory health care? Illinois has become the first state to require that private-sector employers...more

The Rosenbaum Law Firm Review - December 2014

In This Issue: - Stuff That Prospective 401(k) Plan Providers Tell You That's True. - An Employer's "Recipe" for having a Great Retirement Plan. - Why An Employer Can And Should Set Up A Retirement Plan...more

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