News & Analysis as of

Benefit Plan Sponsors Life Insurance

Stinson - Benefits Notes Blog

DOL Settlements Remind Employers to Avoid Collecting Premiums Until Evidence of Insurability is Approved

The U.S. Department of Labor (DOL) announced two settlements with major insurance companies this month that highlight the importance of employers avoiding the collection of group life insurance premiums from employees until...more

Saul Ewing LLP

The Friday Five: Five ERISA Litigation Highlights - October 2023

Saul Ewing LLP on

This month’s Friday Five explores recent decisions that range from the effect on disability benefits when medical records are not provided after two appeals, to a case that examines how an award of death benefits is...more

Saul Ewing LLP

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

Saul Ewing LLP on

This month’s Friday Five covers cases relating to interpretation of ambiguous policy terms, evaluation of claimant’s expert witness, inclusion of law firms as appropriate parties from whom plan administrators may seek...more

Dickinson Wright

Administration of Group Life Insurance – Not So Easy?

Dickinson Wright on

Group life insurance is perhaps the most common of the benefits provided by employers who sponsor employee benefit programs. Many times employees are given the opportunity to purchase supplemental coverage in addition to the...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

VALIC sued over surrender charge

One of the most annoying parts of being an ERISA attorney is dealing with surrender charges for clients who want to escape an insurance provider before the contract is up....more

Genova Burns LLC

How to Comply with ERISA’s Prohibited Transactions Requirements For Group Benefit Plans

Genova Burns LLC on

The Employee Retirement Income Security Act of 1974 (“ERISA”), the principal federal law which regulates the benefit plans marketed to employers in this country, imposes specific requirements on most employer-sponsored...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

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

The problem with insurance with 401(k) plans

I have life insurance and it’s an important financial tool to protect your loved ones. I’ve never been a fan of maintaining a life insurance policy within a qualified plan and that bias against it is because of the compliance...more

Bradley Arant Boult Cummings LLP

State and Federal Regulators Open Probe into 403(b) Plans for Teachers

In what appears to be a growing trend, state and federal regulators are launching investigations into the sales practices and administration of 403(b) retirement plans for school districts. Two weeks ago, on January 10,...more

McDermott Will & Emery

Tyll v. Stanley Black & Decker: When Plan Ambiguity Cost an Employer $4 Million

McDermott Will & Emery on

An employer learned the full cost of ambiguity when a Connecticut federal district court agreed with an employee’s widow that the word “maximum” was ambiguous in the company’s life insurance plan, thus making the widow...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

Eversheds Sutherland (US) LLP

Basic-Supplemental Life Insurance Plan Pricing Structure Upheld in ERISA Class Action

An employee benefit plan that includes an alleged subsidization component for its basic and supplemental options is neither prohibited by the Employee Retirement Income Security Act of 1974 (ERISA) nor a violation of the plan...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Always Be Watching

Who can forget Alec Baldwin’s speech in Glengarry Glenn Ross on how salesmen should “Always Be Closing” and how coffee is for closers only? It was the highpoint of a great movie. I’m not going to go through a discussion...more

BakerHostetler

State Data Breach Notification Requirements Specifically Applicable to Insurers

BakerHostetler on

Almost all U.S. states and territories have enacted breach notification laws requiring private and/or government entities to notify individuals when their personal information is compromised....more

K&L Gates LLP

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

K&L Gates LLP on

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

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Plan Sponsor Should Avoid These Retirement Plan Provider “Con Games”

The George Clooney-Brad Pitt trilogy of heist films known as Ocean’s Eleven, Ocean’s Twelve, and Ocean’s Thirteen were remembered for their twist endings, stylish pacing, and lightheartedness. Since the Ocean gang were...more

Proskauer - Employee Benefits & Executive...

Eighth Circuit: ERISA Plan Beneficiary Designation Trumps Will

The Eighth Circuit held that the named beneficiary of an ERISA governed life insurance policy was entitled to the proceeds even though the decedent’s will named a different beneficiary. Hall v. Metro. Life Ins. Co., 2014 U.S....more

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