Employee Retirement Income Security Act Disclosure Requirements

Employee Retirement Income Security Act is a United States federal law enacted in 1974 to set minimum standards for pension and health plans in the private sector and to protect participants in those plans.... more +
Employee Retirement Income Security Act is a United States federal law enacted in 1974 to set minimum standards for pension and health plans in the private sector and to protect participants in those plans.  ERISA requires plans to provide information to participants, establishes a grievance process,  and allows participants to sue for benefits or breach of fiduciary duties.  less -
News & Analysis as of

New FAQs on Preventive Services, Wellness Program Rewards and Mental Health and Substance Use Treatment: McGuireWoods Healthcare...

This is the 54th in a series of WorkCite articles concerning the Patient Protection and Affordable Care Act and its companion statute, the Health Care and Education Reconciliation Act of 2010 (referred to collectively as the...more

November and December 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

Recent Government-Issued FAQs Cause Plan Sponsors to Clarify Preventive Care and Wellness in Health Plan Communications

On October 23, 2015, the U.S. Departments of Labor (DOL), Health and Human Services (HHS), and Treasury issued frequently asked questions (FAQs) on the implementation of preventive care and wellness provisions of the...more

Checklist for Group Health Plan Participant Disclosure Requirements

There has been an explosion of participant disclosure requirements for group health plans in recent years. While health care reform created some of these new requirements, many of them became effective years earlier. For busy...more

Investment Management Update - October 2015

Below is a summary of recent investment management developments that affect registered investment companies, private equity funds, hedge funds, investment advisers, and others in the investment management industry. Schwab...more

Financial Services Weekly News - September 2015 #5

Regulatory Developments - SEC Proposes to Amend Administrative Proceedings Rules: On Sept. 24 the SEC announced that it had voted to propose amendments to rules governing its administrative proceedings. The...more

Plaintiffs’ Misdirected Demand for Documents Fails, and Their Claim for ERISA Civil Penalties Is Dismissed: Boyd v. Sysco...

A federal court dismissed the plaintiffs’ claim to recover civil penalties for failure to provide plan documents requested by the plaintiffs. Boyd v. Sysco Corporation, No. 4:13-cv-00599 (D. S. C. September 3, 2015), provides...more

Employee Benefits Alert - August 2015

Retirement Plans - IRS Issues Guidance on Benefit Suspension Voting under MPRA - As we have written in prior alerts, the Multiemployer Pension Reform Act of 2014 (MPRA) permits trustees of financially troubled...more

Agencies Issue Final Regulations on the Summary of Benefits and Coverage (SBC) Requirements

As promised in the FAQ issued on March 30, 2015, the U.S. Departments of the Treasury, Labor and Health and Human Services (the Departments) have issued final regulations regarding the summary of benefits and coverage (SBC)...more

SEC No-Action Letter Permits Non-ERISA Retirement Plans to Issue Participant Fee Disclosures Without Violating Securities Laws

In a no-action letter dated February 18, 2015, the U.S. Securities and Exchange Commission (SEC) extended relief from the application of Rule 482 of the Securities Act of 1933 to certain retirement plans that are exempt from...more

DOL Clarifies Timing Requirement for Annual Investment-Related Disclosures

On Wednesday, the U.S. Department of Labor (DOL) announced a modification to the fee and investment-related disclosure requirements for ERISA individual account retirement plans that allow participants to direct the...more

DOL Provides More Timing Flexibility for Annual Participant Investment Disclosures

As promised, on March 19, 2015, the U.S. Department of Labor (DOL) published guidance that would provide more flexibility in the timing of the annual plan and investment disclosures for participant-directed defined...more

Employee Benefits: ERISA Fiduciary Guidance - Fairness for Defined Contribution Fees (6/14)

There has been a tremendous amount of focus on participant-assessed fees in 401(k) and 403(b) plans over the last couple of years. This has come about, in part, because of lawsuits and the Department of Labor (DOL)...more

The ERISA Litigation Newsletter - June 2014

Editor's Overview - In this month's issue, our authors address severance benefit claims and ERISA disclosure requirements. In our first article, Joe Clark addresses whether a plan administrator should conduct an...more

Death, Taxes and …ERISA Disclosure Regulations?

There are few sure things in life, and although it is probably safe to say that ERISA disclosure regulations would not be considered one of them, there has certainly been a steady stream of new ERISA-related disclosure and...more

Investment Advisers to Plans May Be Required to Deliver "Disclosure Guide" Under ERISA

On March 12, 2014, the U.S. Department of Labor (the DOL) issued a proposed amendment (the Proposed Amendment) to its final regulations (the Final Regulations) under Section 408(b)(2) of ERISA (commonly referred to as the...more

Let Their Summary Be Your Guide - U.S. Department of Labor Proposes Fee-Disclosure Guide Requirements Under ERISA

Section 408(b)(2) of the Employee Retirement Income Security Act of 1974 ("ERISA") provides an exemption from the “prohibited transaction” provisions of ERISA for certain compensation arrangements with employee benefit plans....more

DOL Issues Proposed Rule Requiring Guide for 408(b)(2) Disclosures

On March 11, the Department of Labor (the “DOL”) issued a proposed rule (the “Proposed Rule”) which would require employee benefit plan “covered service providers” (as defined in the 408(b)(2) disclosure regulation of the...more

DOL Proposes Amendment to Service Provider Fee Disclosure Regulation

Proposal would require certain service providers to furnish a separate disclosure guide. On March 11, the U.S. Department of Labor (DOL) issued a proposed amendment to its 2012 final regulations under section 408(b)(2)...more

Legal Alert: DOL Proposes 408(b)(2) Disclosure Guide

On March 12, 2014, the Department of Labor (DOL) published in the Federal Register a proposed amendment to its disclosure requirements for “covered service providers” to retirement plans under ERISA § 408(b)(2) that would...more

Seventh Circuit Again Grants Class Certification In Excessive Fee Case

On remand from the Seventh Circuit, a federal district court in Illinois granted class certification in a case where participants in a Boeing 401(k) plan alleged that Boeing breached its fiduciary duties under ERISA by: (i)...more

Congress and DOL Consider Requiring Lifetime Income Projections

In early May, the Department of Labor released an advance notice of proposed rulemaking containing intended proposed regulations that would require all defined contribution plan benefit statements to include lifetime income...more

So You Want To Be A 401(k) Financial Advisor?

Whether you are financial advisor who is not in the 401(k) business and wants to be in it or you’re the financial advisor who wants to dramatically increase their small book of business, this is the perfect time. With...more

Update: One-Time Extension for Furnishing Annual Fee Disclosures to Participants

Earlier this month we reminded you that plan administrators of participant-directed ERISA defined contribution retirement plans (e.g., 401(k) plans, 403(b) plans, profit sharing plans and money purchase plans) had to...more

ERISA Participant Fee Disclosure Notice Deadline Extended (But Only a Little Bit)

On July 22, 2013, the U.S. Department of Labor (DOL) issued Field Assistance Bulletin Number 2013-02, which offers sponsors of ERISA-covered retirement plans temporary relief from the participant fee disclosure deadline...more

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