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.
Common Employment Law Mistakes for Small, Start-Up and Growing Companies
This month our articles focus on the availability of damages in complex ERISA class actions and withdrawal liability actions. Jackie Len first provides Proskauer's perspective on the implications for ERISA litigation arising...more
Health Care Reform: Agencies Issue Proposed Regulations on 90-Day Waiting Period Limitation -
On March 21, the IRS, DOL, and Department of Health and Human Services issued proposed regulations on the 90-day waiting...more
Retirement plans can be an effective means for employee retention and tax savings. However if not operated properly, a retirement plan can inadvertently expose the employer to liability from unhappy plan participants and the...more
In his inaugural address in 1933 amidst the Depression, Franklin Delano Roosevelt said that the only thing we had to fear was “fear itself”. 1933 predates ERISA by 40+ years, so FDR clearly didn’t understand the dilemmas of...more
Plan sponsors know that errors and failures in administering a retirement plan happen. All too often, changes in administrators, service providers and other staff uncover errors and compliance problems that should be...more
As we have written in this space in the past, whether a worker is an employee or an independent contractor can have many consequences. The classification can determine whether the principal is liable for the negligent acts...more
In This Issue:
- Health & Welfare Plans
..Health Care Reform: IRS Issues Proposed “Pay or Play” Regulations
..Health Care Reform: IRS Issues FAQs on Various ACA Issues
..HHS Issues Final HIPAA Regulations...more
On January 28, 2013, the Employee Benefits Security Administration (EBSA), an agency of the U.S. Department of Labor (DOL), announced updates to its Delinquent Filer Voluntary Compliance (DFVC) Program.
New provisions for correcting operational and plan document errors take effect on April 1.
On December 31, 2012, the Internal Revenue Service (IRS) updated its Employee Plans Compliance Resolution System (EPCRS) through...more
Lowenstein Sandler’s Investment Management Group is pleased to provide you with (i) a summary of recent legislative and regulatory developments that impact the investment management community; and (ii) checklists of year-end...more
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 and excise taxes. To...more
In 2012, the Department of Labor (DOL) continued a fairly active program of issuing individual exemptions from the prohibited transaction rules of ERISA. These rules generally prohibit, among other things:
- Sale and...more
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