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Overpayment Employee Benefits

Hogan Lovells

Overpayments: lessons from the Ombudsman

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Recovering overpayments of benefits is a challenge often faced by pension trustees.  Pension scheme benefits are complex and it is no surprise that mistakes can arise and lead to members being paid more than they are entitled...more

Saul Ewing LLP

The Friday Five: Five ERISA Litigation Highlights - February 2024

Saul Ewing LLP on

This month’s Friday Five explores decisions regarding the transfer of an ERISA action that was filed in a state where an insurer did not maintain sufficient minimum contacts, an award of attorneys’ fees, costs, and...more

Kilpatrick

IRS Issues SECURE 2.0 Guidance on Expanded Availability of Self-Correction

Kilpatrick on

The SECURE 2.0 Act of 2022 (“SECURE 2.0”) greatly expands the availability of self-correction of compliance failures involving employer retirement plans and IRAs. On May 25, 2023, the IRS issued Notice 2023-43, which...more

Williams Mullen

PODCAST: Williams Mullen's Benefits Companion - SECURE 2.0 Act - More Relief for Plan Administrators

Williams Mullen on

On this episode of Williams Mullen's Benefits Companion, host Brydon DeWitt shares more good news for benefit plan administrators, this time under the banner of the SECURE 2.0 Act. Highlights include a discussion of the...more

Bradley Arant Boult Cummings LLP

SECURE 2.0: Changes Affecting Defined Benefit Pension Plans

Enacted last December as part of omnibus appropriations legislation, the “Securing a Strong Retirement Act of 2022” (SECURE 2.0) includes a number of provisions that have an impact on retirement plan administration, effective...more

Ogletree, Deakins, Nash, Smoak & Stewart,...

SECURE 2.0: Oops! So the Employer-Sponsored Retirement Plan Overpaid?

SECURE 2.0 may cause some insecurity. However, the law’s changes to the treatment of overpayments from employer-sponsored retirement plans may replace that insecurity with relief....more

Kilpatrick

SECURE 2.0 Upends IRS Correction Procedure

Kilpatrick on

The SECURE 2.0 Act of 2022 (“SECURE 2.0”) is one of the most significant pieces of retirement plan legislation in many years. (See our high level summary of SECURE 2.0 at link.) Among other things, SECURE 2.0 brings sweeping...more

Fox Rothschild LLP

Correcting Retirement Plan Overpayments: Relief and Restrictions From SECURE 2.0

Fox Rothschild LLP on

The Consolidated Appropriations Act of 2023, which was signed into law on December 29, 2022, includes numerous provisions impacting retirement savings plans, which are collectively referred to as SECURE 2.0. SECURE 2.0...more

Bradley Arant Boult Cummings LLP

SECURE 2.0: Retirement Plan Changes for 2023

The SECURE 2.0 Act of 2022 was enacted at the end of last year as part of the Consolidated Appropriations Act of 2023. The act sets forth a number of changes affecting retirement plans that go into effect over several years....more

Saul Ewing LLP

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

Saul Ewing LLP on

This month’s Friday Five covers cases relating to: (1) whether claim administrators can recover overpayments through a breach of contract claim under state law; (2) whether claim administrators can rely solely on a claimant’s...more

Snell & Wilmer

New Ways to Self-Correct Overpayments Under EPCRS

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On July 16, 2021, IRS issued Revenue Procedure 2021-30 to update the Employee Plans Compliance Resolutions System (the “EPCRS”). The update in part expands the opportunities for plan sponsors to self-correct failures under...more

Proskauer - Employee Benefits & Executive...

EPCRS Update Offers New Tools to Correct Retirement Plan Errors

The IRS recently updated its “Employee Plans Compliance Resolution System” (EPCRS).  By way of background, EPCRS is a correction program administered by the IRS for plan sponsors to correct certain retirement plan errors. ...more

McDermott Will & Emery

Need a Do-Over? IRS Expands and Updates Qualified Plans Correction Guidance

McDermott Will & Emery on

The Internal Revenue Service (IRS) issued Revenue Procedure 2021-30, which provides an updated version of the Employee Plans Compliance Resolution System (EPCRS). EPCRS is the IRS’s comprehensive program for plan sponsors to...more

Eversheds Sutherland (US) LLP

IRS goes for gold with EPCRS Expansion

Just in time for the Olympics, the Internal Revenue Service (IRS) is attempting to take a medal in the category of “long-form voluntary compliance programs”. The IRS issued Revenue Procedure 2021-30 (Rev. Proc. 2021-30),...more

Morgan Lewis

IRS Expands Self-Correction Procedures, but Eliminates Anonymous Voluntary Correction Program

Morgan Lewis on

The Internal Revenue Service (IRS) made important changes to the Employee Plans Compliance Resolution System (EPCRS) in Revenue Procedure 2021-30 that are helpful for plan sponsors as they expand the ability of plan sponsors...more

Jackson Walker

Qualified Retirement Plan Correction Program Expanded and Revised

Jackson Walker on

The Internal Revenue Service updated and expanded the ability to correct plan operational and document defects with the new and improved Employee Plans Compliance Resolution System (Rev. Proc. 2021-30) (EPCRS). Issued and...more

Dickinson Wright

Recovering Retirement Plan Overpayments: Process is Key

Dickinson Wright on

A qualified retirement plan paying more in distributions than a participant is entitled to occurs frequently. Common reasons for overpayments include miscalculation of benefits due to systemic error, the plan sponsor being...more

Sheppard Mullin Richter & Hampton LLP

Cross-Plan Offsetting in the Balance: UnitedHealth Group, Inc. Petitions the Supreme Court to Allow Cross-Plan Offsetting;...

In its decision, the Court concluded that UnitedHealth Group, Inc. (“United”) was not authorized to engage in “cross-plan offsetting.” What is cross-plan offsetting? It is a “self-help” practice that third party...more

King & Spalding

Eighth Circuit Questions Whether Cross-Plan Offsetting Violates ERISA in Recent Decision Holding that the Underlying Plan...

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On January 15, 2019, the United States Court of Appeals for the Eighth Circuit considered whether certain plan documents allowed UnitedHealth Group Inc. and affiliates (“United”) to engage in a practice known as “cross-plan...more

McDermott Will & Emery

Eighth Circuit Rejects Cross-Plan Offsetting

A recent Eighth Circuit decision regarding “cross-plan offsetting” serves as an important reminder of how ERISA’s fiduciary duties impact both employers and fiduciaries who handle claims. The case involved the common...more

King & Spalding

Eighth Circuit Rules that Cross-Plan Offsetting of Payments Is Unreasonable

King & Spalding on

On January 15, 2019, the U.S. Court of Appeals for the Eighth Circuit issued an order affirming a lower court’s ruling that UnitedHealth’s interpretation of ERISA plan documents to authorize cross-plan offsetting was...more

Best Best & Krieger LLP

CalPERS Employers Dodge A Bullet - SB 1124 Would Have Imposed Statutory Liability For Errors In Calpers Reporting

Gov. Jerry Brown vetoed legislation that would have imposed significant liability on CalPERS employers for errors in their CalPERS reporting which result in post-retirement pension reductions....more

Proskauer - Employee Benefits & Executive...

Pension Consultant Found Not to be an ERISA Fiduciary

The Tenth Circuit held that a pension plan consultant, who misstated the amount of monthly pension payments that a pension plan participant would receive in retirement, was not a fiduciary under ERISA. Plaintiffs Trent...more

Locke Lord LLP

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

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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

Proskauer Rose LLP

The ERISA Litigation Newsletter

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Editor's Overview - This month's newsletter focuses on repayment of pension plan overpayments. Our issue discusses pension plan overpayments to participants, a plan administrator's duties to seek repayment, corrections...more

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