News & Analysis as of

Retirement Plan Employee Benefits Health and Welfare Plans

McAfee & Taft

DOL confirms cybersecurity guidance applies to health and welfare plans

McAfee & Taft on

On Friday, September 6, 2024, the U.S. Department of Labor confirmed that its cybersecurity guidance applies to all employee benefit plans, including health and welfare plans. In 2021, the DOL issued guidance providing best...more

McDermott Will & Emery

The Case for the Welfare Plan Fiduciary Committee

Recent lawsuits filed against the group health plans of two large US employers underscore the importance of implementing formal welfare benefit plan governance structures that include fiduciary committees comparable to the...more

Lowenstein Sandler LLP

How the Structure of Your M&A May Impact Your Workforce

Lowenstein Sandler LLP on

On the latest episode of Just Compensation, Lowenstein’s Darren Goodman, Megan Monson, and Jessica Kriegsfeld of the Executive Compensation, Employment and Benefits practice discuss how the structure of an M&A transaction...more

Jackson Lewis P.C.

Health Plan Hygiene Part 2: ERISA Fiduciaries – That May Mean You!

Jackson Lewis P.C. on

The Employee Retirement Income Security Act of 1974 (ERISA) regulates most private employee benefit retirement and welfare plans. This statute’s purview is vast; it governs employer-sponsored defined benefit and defined...more

Verrill

Health and Welfare Benefit Plan Fiduciary Governance in the Wake of the Johnson & Johnson Lawsuit

Verrill on

For the past few years, we have encouraged plan sponsors to focus on matters of fiduciary governance for their health and welfare benefit plans (see our 2021 blog post). Yet many plan sponsors overlook the fact that the...more

Seyfarth Shaw LLP

Drugmaker Sued for…Overpaying for Drugs? Lawsuit Ushers in Expected Wave of Welfare Fiduciary Litigation

Seyfarth Shaw LLP on

The first complaint was filed in what is expected to be a wave of litigation alleging breach of fiduciary duty in selecting and monitoring welfare plan vendors. While the facts of this particular case may make it somewhat...more

Troutman Pepper

Employee Benefits and Executive Compensation: Getting Ready for 2024 - Health and Welfare Plan Developments — Special Edition...

Troutman Pepper on

In the second episode of our three-part Employee Benefits and Executive Compensation podcast miniseries, hosts Lynne Wakefield and Lydia Parker discuss key health and welfare plan developments as we close out 2023 and head...more

Quarles & Brady LLP

2023 Year-End Employee Benefits Updates

Quarles & Brady LLP on

This newsletter provides updates employers should be aware of heading into 2024, including an outline of the updated 2024 retirement and welfare plan limits, instructions related to the “gag order” attestation requirements...more

Davis Wright Tremaine LLP

IRS Releases 2024 Cost-of-Living Adjusted Limits for Benefit Plans

The Internal Revenue Service recently announced 2024 dollar limits for qualified retirement plans (including 401(k) plans), deferred compensation plans, and health and welfare plans. Adjustments to certain limits are based on...more

McDermott Will & Emery

IRS Announces 2024 Employee Benefit Plan Limits

McDermott Will & Emery on

The Internal Revenue Service (IRS) recently announced the cost-of-living adjustments to the applicable dollar limits for various employer-sponsored retirement and welfare plans for 2024. Certain health and welfare plan limits...more

Groom Law Group, Chartered

Seventh Circuit Affirms Plan Sponsor’s Discretion for Severance Benefits

A recent opinion out of the U.S. Court of Appeals for the Seventh Circuit provides additional support for ERISA-governed severance plans to incorporate a “discretionary component” as a factor in determining eligibility for...more

Lowenstein Sandler LLP

Acquiring a Company with a PEO? What Buyers Need to Know

Lowenstein Sandler LLP on

The latest “Just Compensation” podcast features Megan Monson, Taryn E. Cannataro, and Jessica Kriegsfeld of Lowenstein’s Employee Benefits & Executive Compensation group describing some of the benefits-related considerations...more

McDermott Will & Emery

From Clinic to Courtroom: Legislation and Litigation Limiting Prescription Practices

McDermott Will & Emery on

On April 20, 2023, McDermott’s Alden Bianchi was a speaker at the ERISA Industry Committee’s 2023 Annual Spring Policy Conference, which was held at the National Press Club in Washington, D.C. The panel in which he...more

Davis Wright Tremaine LLP

[Event] Annual Employee Benefits and Employment Law Seminar - March 8th, Seattle, WA

Join us for our Annual Employee Benefits and Employment Law Seminar, covering the latest updates and practical insights on benefits, labor, and employment issues. Topics include: - SECURE 2.0 - ERISA Litigation...more

Bass, Berry & Sims PLC

SECURE 2.0 + 1: Retirement Plan Changes and One Notable Health Plan Change

Bass, Berry & Sims PLC on

As widely reported, the president recently signed into law the Consolidated Appropriations Act of 2023 (CAA 2023), a $1.7 trillion omnibus spending bill, which contains significant provisions affecting employer-sponsored...more

McDermott Will & Emery

[Webinar] SECURE 2.0 Takes Second Bite at Retirement Security - January 25th, 12:00 pm - 1:00 pm CST

McDermott Will & Emery on

Join partners from McDermott’s Employee Benefits team as they discuss the impact of the recently passed SECURE 2.0 Act of 2022. With over 90 changes to retirement plans and individual retirement accounts (IRAs), this webinar...more

Williams Mullen

2022 Annual Employee Benefits Compliance Checklist for Plan Administrators

Williams Mullen on

Plan administrators should review actions to be taken before the end of 2022 and focus on what to expect for 2023. This checklist addresses plan amendments, notices and other considerations for qualified retirement plans,...more

McDermott Will & Emery

IRS Announces 2023 Employee Benefit Plan Limits

McDermott Will & Emery on

The Internal Revenue Service (IRS) and the Social Security Administration announced the cost-of-living adjustments to the applicable dollar limits on various employer-sponsored retirement and welfare plans and the Social...more

Lowenstein Sandler LLP

The Form 5500: What All Employers and Plan Administrators Need to Know and How to Avoid Costly Fines

In today’s episode of “Just Compensation,” hosts Megan Monson, Taryn E. Cannataro, and Batool T. Banker of Lowenstein’s Employee Benefits & Executive Compensation practice examine the Form 5500, which must be filed by all...more

McDermott Will & Emery

ERIC Petitions US Supreme Court on Seattle Healthcare Case

McDermott Will & Emery on

McDermott Will & Emery’s Michael B. Kimberly, Sarah P. Hogarth and Andrew C. Liazos, are co-counsel on a petition for certiorari before the Supreme Court of the United States on behalf of the ERISA Industry Committee (ERIC)....more

McDermott Will & Emery

Inflation and ERISA Penalties: Hand in Hand for 2022

2022 INFLATION-ADJUSTED PENALTIES ANNOUNCED BY THE DEPARTMENT OF LABOR - The Federal Civil Penalties Inflation Adjustment Act of 2015 directs the US Department of Labor (DOL) to make annual inflation adjustments to...more

Bass, Berry & Sims PLC

Tolling, Tolling, Tolling, Keep Those COVID-19 National Emergency Deadlines Tolling

On February 18, President Biden announced that the COVID-19 National Emergency would continue beyond March 1, 2022, for up to another year. As a result of the continuing National Emergency, the “tolling” of several important...more

Perkins Coie

2022 Cybersecurity Issues and Recommendations for ERISA Plan Fiduciaries

Perkins Coie on

New cybersecurity developments and observations, including those relating to U.S. Department of Labor's (DOL) review of cybersecurity issues, warrant prompt consideration by plan sponsors and other fiduciaries of employee...more

Snell & Wilmer

2021 End of Year Plan Sponsor “To Do” List (Part 4) Executive Compensation

Snell & Wilmer on

As is tradition, we are happy to present our End of Year Plan Sponsor “To Do” Lists. We are publishing our “To Do” Lists in four separate Employee Benefits Updates. Part 1 covered year-end health and welfare plan issues, Part...more

Snell & Wilmer

The DOL Asks and Answers Questions About the New Welfare Plan Fee Disclosure Rules

Snell & Wilmer on

In Field Assistance Bulletin 2021-03 (12/31/21) (FAB), the Department of Labor (DOL) issued guidance and temporary enforcement policy to address the new 408(b)(2) disclosure requirements that apply to certain service...more

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