News & Analysis as of

Plan Administrators

Investment Funds Update: Europe: Legal and regulatory updates for the funds industry from the key asset management centres and...

by Dechert LLP on

Central Bank Issues FAQ on Brexit - The Central Bank has issued an FAQ document on Brexit, which provides general information to financial services firms who are considering relocating their operations from the UK to...more

Disability Claims Procedures Should be Updated for New Regulations

As open enrollment approaches for many benefit plans, employers and plans sponsors should check to make sure their claims procedures for disability claims are consistent with regulations that become effective for plan years...more

Missing Participants – Out of Sight Out of Mind?

by Snell & Wilmer on

Imagine it’s March 31 and you are a retirement plan administrator. You have a participant who terminated employment 15 years ago. He turned 70½ last year and now you owe him his first required minimum distribution from the...more

The Full Fifth Circuit Will Re-Visit The Standard Of Review In Denial Of Benefits Cases

by Jackson Lewis P.C. on

On July 10, the Fifth Circuit Court of Appeals announced that the full Court would re-hear a recent case concerning the applicable standard of review in an ERISA denial of benefits case – which is often outcome-determinative...more

Alert: Ontario Sets out Transitional Measures, Provides Solvency Relief

As mentioned in our May 2017 Blakes Alert: Ontario Government Announces New Funding Framework for Defined Benefit Pension Plans, the Ontario government had promised that transitional measures would be available to plan...more

Fifth Circuit Holds That SPD Was An Enforceable Plan Document Through Which The Administrator Could Properly Seek Reimbursement

by DeWitt Law, LLC on

In another victory for plan administrators seeking reimbursement under the terms of ERISA plans, in Rhea v. Alan Ritchey, Inc. Welfare Benefit Plan, No. 16-41032, 2017 U.S. App. LEXIS 9482 (5th Cir. May 30, 2017), the Fifth...more

The Thing about Payroll Provider TPAs

by Ary Rosenbaum on

Last week, I published on JDSupra.com my annual article regarding payroll provider third party administration (TPAs) firms and my recommendation that using them is a bad mistake....more

The Time is Right to Contact Recordkeepers About Hardship Substantiation

If your 401(k) plan recordkeeper has not talked to your company lately about hardship distributions, it may be time to reach out to the recordkeeper. The short story is that the IRS recently issued an internal memorandum...more

The Fifth Circuit Calls Into Question Its Standard Of Review In ERISA Denial Of Benefits Cases

by Jackson Lewis P.C. on

Explaining that “[a]s any sports fan dismayed that instant replay did not overturn a blown call learns, it is difficult to overcome a deferential standard of review,” a panel of the Fifth Circuit Court of Appeals has called...more

2017 Ontario Budget: Highlights for Pension Plan Sponsors and Administrators

by Dentons on

Pension plan sponsors and administrators have much to anticipate with the release of the 2017 Ontario Budget: A Stronger, Healthier Ontario (Budget) on April 27, 2017. The Budget provides updates to several pension reform...more

Revenue sharing costs money

by Ary Rosenbaum on

I guess my comments regarding revenue sharing is a bit sarcastic, but I think accurate. While revenue sharing payments from mutual funds to TPA to help defray the costs of administration of a plan sponsor’s plan is legal, it...more

It’s a mistake to only focus on fees

by Ary Rosenbaum on

I remember as a kid that there was move to use margarine because of the cholesterol that was in butter. Who can forget those talking Parkay carton commercials? Of course, we later learn that many margarines had high amounts...more

How to Avoid Costly Beneficiary Designation Litigation – Helpful Hints for All Benefit Plans

by Foley & Lardner LLP on

When administering an employee benefits plan, it is critically important to provide clear and specific instructions as to how a participant can designate a beneficiary. A recent federal district court opinion in Florida...more

Halo looms over new decision that adds to ERISA risks for claims administrators

by Thompson Coburn LLP on

The latest decision to rely on the influential Halo v. Yale Health Plan decision from the 2nd Circuit adds to a worrisome pattern of courts applying the strictest possible review to lawsuits brought by aggrieved plan...more

Health Care Reform Update – American Health Care Act Shelved

The American Health Care Act (“AHCA”), the legislation intended to “repeal and replace” the Affordable Care Act (“ACA”), was shelved on Friday, March 24, 2017, ending for now efforts to repeal the ACA. The AHCA, described in...more

CASE ALERT: 8th Circuit Rules Against Anheuser-Busch Plan Finding That ERISA-Plan Language Must Be Interpreted According to its...

by Kiesewetter Law Firm on

Case: Knowlton, et al. v. Anheuser-Busch Companies Pension Plan — Eighth Circuit Issue Presented: Whether a plan administrator’s interpretation of ERISA-subject plan language that resulted in a denial of pension...more

Ask the TPA about their administrators’ training

by Ary Rosenbaum on

If I want to get a new doctor or an attorney, I certainly want to know their background. Same with a financial advisor, I don’t want the next Bernie Madoff. When you hire a professional, you want to know their credentials....more

The TPA Asset Based Fee is a dinosaur

by Ary Rosenbaum on

I have a good friend of mine that I’ve known for the last 18 years and he’s one of the most honest people in the 401(k) business and I love him even though he roots for the New York Islanders. He works for a third party...more

Recent Budget Measures Bill Amends Ontario Pension Legislation

On November 16, 2016, Bill 70, Building Ontario Up for Everyone Act (Budget Measures), 2016 (Bill) received first reading in Ontario’s legislative assembly. If passed, the Bill will amend the Pension Benefits Act (Ontario)...more

Environmental, Social and Governance Factors: Should Pension Plan Administrators Look to Rating Agencies for Links Between ESG and...

by Dentons on

In my August 17, 2016 post, I summarized Ontario’s recent changes to the Pension Benefits Act and Regulation that require a pension plan’s statement of investment policies and procedures (“SIPP”) to include information as to...more

Plan Administrators, Are You Prepared for Ontario’s New Regime for Pension Advisory Committees?

Many pension plan administrators will soon have new obligations regarding pension advisory committees (PAC). Ontario’s new PAC regime was proposed in fall 2015 and will come into force on January 1, 2017. In particular, O....more

Ontario Pension Advisory Committees

by Dentons on

If you are involved with the administration of an Ontario registered pension plan, you should familiarize yourself with new Ontario rules regarding pension advisory committees. The new rules will be effective January 1,...more

Evidence From LinkedIn, IMDB Used to Support Denial of Benefits

by Seyfarth Shaw LLP on

Be careful what you ask for. The Plaintiff in a recent case from the Central District of California learned that lesson when the Plan’s re-evaluation of her claim for benefits revealed that she was apparently working as a...more

Sometimes it’s about control

by Ary Rosenbaum on

As a retirement plan provider, you meet a potential client and you just do so well in the meeting that you think there should be no way that you’re going to lose this prospect. Yet you get the call that a competing provider...more

Who is the biggest 401(k) Recordkeeper and what really matters

by Ary Rosenbaum on

A few weeks back, I wrote an article about 401(k) hustlers you should watch out for and I mentioned the caveat of using a payroll provider as your 401(k)’s third party administrator (TPA). I posted it on LinkedIn and someone...more

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