The U.S. District Court for the District of Columbia has ordered the EEOC to reconsider its final regulations on the extent to which an employer may offer incentives to participate in a wellness program without violating the...more
8/23/2017
/ AARP ,
Affordable Care Act ,
Americans with Disabilities Act (ADA) ,
Corporate Counsel ,
Employer Group Health Plans ,
Equal Employment Opportunity Commission (EEOC) ,
GINA ,
Health Insurance Portability and Accountability Act (HIPAA) ,
Incentives ,
Irreparable Harm ,
Preliminary Injunctions ,
Self-Funded Health Plans ,
Wellness Programs
On August 9, 2017, the Department of Labor (“DOL”) stated in a court filing that the Office of Management and Budget (“OMB”) is reviewing a proposal to extend the applicability date for certain requirements under DOL’s...more
Editor's Overview -
Welcome once again to Proskauer's newly revamped ERISA Newsletter. As a reminder, readers can obtain the information in this Newsletter as it is published on our blog.
Our featured article this...more
7/7/2017
/ 401k ,
American Health Care Act (AHCA) ,
Church Plans ,
Class Action ,
Conflicts of Interest ,
Department of Labor (DOL) ,
Employee Retirement Income Security Act (ERISA) ,
ESOP ,
Fiduciary Rule ,
Hardship Distributions ,
Healthcare Reform ,
Hospitals ,
Investment Adviser ,
IRS ,
Labor Management Relations Act (LMRA) ,
Mental Health Parity Rule ,
MHPAEA ,
Pension Funds ,
Preemption ,
Qualified Retirement Plans ,
Request For Information ,
Split of Authority ,
Stock Drop Litigation ,
Summary Plan Description ,
Taft-Hartley Plan Trustees ,
Trustees
On June 29, 2017, the Department of Labor (“DOL”) requested another round of public comment on its fiduciary rule—this time in the form of a Request (“RFI”) for Information. The RFI seeks input on (a) whether to extend the...more
The U.S. Department of Labor's (DOL) final rule significantly expanding when a person is considered to be a fiduciary under the Employee Retirement Income Security Act of 1974 (ERISA) and the Internal Revenue Code (Code) as a...more
5/29/2017
/ Best Interest Contract Exemptions ,
Broker-Dealer ,
Department of Labor (DOL) ,
Employee Retirement Income Security Act (ERISA) ,
Fiduciary Rule ,
Final Rules ,
Fund Managers ,
Hedge Funds ,
Individual Retirement Account (IRA) ,
Investment Adviser ,
Popular ,
Private Equity ,
Retirement Plan
The Department of Labor has announced that the new fiduciary conflict of interest rule and related exemptions will begin taking effect on June 9, 2017, ending speculation of further delay. At the same time, the Department...more
5/24/2017
/ Conflicts of Interest ,
Department of Labor (DOL) ,
Duty of Loyalty ,
Duty of Prudence ,
Employee Retirement Income Security Act (ERISA) ,
Excise Tax ,
Fiduciary Rule ,
Final Rules ,
HSA ,
Individual Retirement Account (IRA) ,
Internal Revenue Code (IRC) ,
Investment Adviser ,
Private Right of Action ,
Self-Reporting
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
A lot has been written over the last few months about what to do now that the IRS has closed its determination letter program for ongoing individually designed tax-qualified retirement plans....more
On April 4, 2017, the U.S. Department of Labor issued a final rule postponing applicability of the conflict of interest rule and related exemptions for sixty days, until June 9, 2017...more
4/7/2017
/ Best Interest Contract Exemptions ,
Conflicts of Interest ,
Delays ,
Department of Labor (DOL) ,
Fiduciary Rule ,
Final Rules ,
Investment Adviser ,
Popular ,
Private Right of Action ,
Public Comment ,
Retirement Plan ,
Trump Administration
After a brief hiatus, Proskauer's ERISA Newsletter is back with a brand new look. We hope you like it and find it is easier to navigate. In addition to implementing our new format, we have moved to a quarterly publication...more
4/6/2017
/ 401k ,
403(b) Plans ,
Administrative Procedure Act ,
Aetna ,
Affordable Care Act ,
Alternative Pleadings ,
Benefit Plan Sponsors ,
Breach of Duty ,
Chamber of Commerce ,
Class Action ,
Class Certification ,
Collective Bargaining ,
Conflicts of Interest ,
Delays ,
Department of Labor (DOL) ,
Duty of Prudence ,
Employee Retirement Income Security Act (ERISA) ,
Exhaustion Doctrine ,
Fiduciary Duty ,
Fiduciary Rule ,
FIfth Third Bancorp v Dudenhoeffer ,
HRA ,
Insider Information ,
IRS ,
Lifetime Health Benefits ,
Mental Health Parity Rule ,
Notice Requirements ,
Pleading Standards ,
Preliminary Injunctions ,
Presidential Memorandum ,
Proposed Legislation ,
Public Disclosure ,
Qualified Small Employer Health Reimbursement Plan (QSEHRAs) ,
Repeal ,
Retirement Plan ,
Small Employers ,
Stock Drop Litigation ,
Trump Administration ,
Unilateral Modification ,
Vested Benefits
On March 1, 2017, the U.S. Department of Labor proposed a 60-day delay of the conflict of interest rule and related exemptions (currently set to be applicable on April 10, 2017). The Department opened two comment periods...more
On March 1, 2017, the U.S. Department of Labor proposed a 60-day delay of the conflict of interest rule and related exemptions (currently set to be applicable on April 10, 2017). The Department opened two comment periods...more
Editor’s Overview -
In 2016, we saw a considerable uptick in the number and variety of excessive fee lawsuits commenced against plan fiduciaries of defined contribution plans. We begin the year by taking a look at these...more
1/31/2017
/ 401k ,
403(b) Plans ,
AARP ,
Americans with Disabilities Act (ADA) ,
Benefit Plan Sponsors ,
Breach of Duty ,
Class Action ,
Collective Bargaining ,
Defined Contribution Plans ,
Dismissals ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Employer Group Health Plans ,
Equal Employment Opportunity Commission (EEOC) ,
Excessive Fees ,
Fiduciary Duty ,
Financial Adviser ,
GINA ,
Investment Funds ,
Irreparable Harm ,
Lifetime Health Benefits ,
Preliminary Injunctions ,
Reservation of Rights ,
Retirement ,
Retirement Plan ,
Revenue Sharing ,
Self-Dealing ,
Unions ,
Vesting ,
Wellness Programs
The U.S. District Court for the District of Columbia (Judge Bates) has denied AARP’s request to block the implementation of the EEOC’s final wellness regulations pending a decision on the merits. As we have discussed...more
1/3/2017
/ AARP ,
Americans with Disabilities Act (ADA) ,
Discrimination ,
Employee Benefits ,
Equal Employment Opportunity Commission (EEOC) ,
GINA ,
Health Insurance ,
Healthcare ,
Incentives ,
Preliminary Injunctions ,
Wellness Programs
This month we review a recent Second Circuit decision addressing ERISA plan status as a class member in a securities shareholder class action. As discussed in the article, the decision exposes a potential conflict among the...more
12/1/2016
/ AARP ,
Administrative Procedure Act ,
Affordable Care Act ,
Americans with Disabilities Act (ADA) ,
Appeals ,
Best Interest Contract Exemptions ,
Budget Recollection Legislation ,
Class Action ,
Department of Labor (DOL) ,
Dismissals ,
Due Process ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Employer Group Health Plans ,
Equal Employment Opportunity Commission (EEOC) ,
Fiduciary Duty ,
Fiduciary Rule ,
Filing Deadlines ,
GINA ,
Investment Adviser ,
IRS ,
National Association for Fixed Annuities (NAFA) ,
Preemption ,
Preliminary Injunctions ,
Presidential Elections ,
Repeal ,
Retirement Plan ,
Reversal ,
Securities Litigation ,
Shareholder Litigation ,
Slayer Statutes ,
Summary Judgment ,
Trump Administration ,
Wellness Programs
As we have previously discussed in detail in several blogs (New EEOC Regulations Provide Roadmap for Wellness Programs; EEOC Issues Final Rules On Employer-Sponsored Wellness Program Compliance Under the ADA and GINA; and...more
10/27/2016
/ AARP ,
Affordable Care Act ,
Americans with Disabilities Act (ADA) ,
Corporate Counsel ,
Employee Benefits ,
Employer Group Health Plans ,
Equal Employment Opportunity Commission (EEOC) ,
Final Rules ,
GINA ,
Incentives ,
Non-Discrimination Rules ,
Wellness Programs
Editor's Overview -
This month, we look at the implications of the two federal district court cases from California that applied the ban on discretionary clauses typically found in ERISA plans to self-insured plans. The...more
10/27/2016
/ Abuse of Discretion ,
Administrative Procedure Act ,
Arbitrary and Capricious ,
Audits ,
Best Interest Contract Exemptions ,
De Novo Standard of Review ,
Department of Labor (DOL) ,
Determination Letter ,
Disability Benefits ,
Discretionary Clauses ,
Eligibility ,
Employee Retirement Income Security Act (ERISA) ,
EPCRS ,
Equal Employment Opportunity Commission (EEOC) ,
Federal Arbitration Act ,
Fiduciary Duty ,
Fiduciary Rule ,
First Amendment ,
Forum Selection ,
Health Insurance ,
Insurance Code ,
IRS ,
Notice and Comment ,
Pre-Dispute Arbitration ,
Preemption ,
Savings Clause ,
Self-Funded Health Plans ,
State Bans ,
Voluntary Correction Program ,
Wellness Programs
Editor's Overview -
This month, we have re-published an interview of our colleague Seth Safra discussing the Department of Labor’s final regulation concerning fiduciaries and conflicts of interest. In this interview,...more
9/28/2016
/ 401k ,
Best Interest Contract Exemptions ,
Breach of Duty ,
Department of Labor (DOL) ,
Dismissals ,
Employee Retirement Income Security Act (ERISA) ,
Excessive Fees ,
Fiduciary Duty ,
Fiduciary Rule ,
Forum Selection ,
Fund Managers ,
Interference Claims ,
Investment Adviser ,
Retirement Plan ,
Retirement Plan Providers ,
Section 510 ,
Statute of Limitations ,
TPAs
In EEOC v. Orion Energy Systems, Inc., the Eastern District of Wisconsin rejected the EEOC’s claims that Orion Energy’s wellness program violated the Americans with Disabilities Act (“ADA”). Although the court upheld the...more
9/27/2016
/ Affordable Care Act ,
Americans with Disabilities Act (ADA) ,
Discrimination ,
Employee Benefits ,
Employer Liability Issues ,
Equal Employment Opportunity Commission (EEOC) ,
GINA ,
Health Insurance ,
Health Insurance Portability and Accountability Act (HIPAA) ,
Healthcare ,
HRA ,
Incentives ,
Orion Energy ,
Wellness Programs
On April 6, 2016, the U.S. Department of Labor (DOL) issued its highly anticipated final rule addressing when a person is considered to be a fiduciary under the Employee Retirement Income Security Act of 1974 (ERISA) and the...more
7/20/2016
/ Benefit Plan Sponsors ,
Best Interest Contract Exemptions ,
Conflicts of Interest ,
Department of Labor (DOL) ,
Employee Retirement Income Security Act (ERISA) ,
Exclusions ,
Fees ,
Fiduciary Duty ,
Financial Institutions ,
Fund Managers ,
Individual Retirement Account (IRA) ,
Internal Revenue Code (IRC) ,
Investment Adviser ,
Pensions ,
Private Investment Funds ,
PTEs ,
Retirement Plan ,
Retirement Plan Providers
On June 21, 2016, the Internal Revenue Service (IRS) issued long-awaited proposed Treasury Regulations prescribing rules under Section 457 of the Internal Revenue Code (the "Code") for the income taxation of deferred...more
7/1/2016
/ Collective Bargaining Agreements (CBA) ,
Deferred Compensation ,
Forfeiture ,
Income Taxes ,
Internal Revenue Code (IRC) ,
IRS ,
Non-Compete Agreements ,
Proposed Regulation ,
Section 409A ,
Section 457(f) ,
Section 457A ,
State Employees ,
Tax Exempt Entities ,
Tax Exemptions ,
U.S. Treasury
Editor's Overview -
In this month’s newsletter, our colleagues focus on two sets of legislative updates. First is a discussion of the IRS’s proposed Treasury Regulations prescribing rules under Section 457 of the...more
7/1/2016
/ Administrative Procedure Act ,
Affordable Care Act ,
Americans with Disabilities Act (ADA) ,
Best Interest Contract Exemptions ,
Confidential Information ,
Deferred Compensation ,
Department of Health and Human Services (HHS) ,
Department of Labor (DOL) ,
Due Process ,
Employee Retirement Income Security Act (ERISA) ,
Equal Employment Opportunity Commission (EEOC) ,
Fiduciary Duty ,
Fifth Amendment ,
Forfeiture ,
Former Employee ,
GINA ,
Health Insurance Portability and Accountability Act (HIPAA) ,
Incentives ,
Individual Retirement Account (IRA) ,
IRS ,
Medical Examinations ,
Proposed Regulation ,
PTEs ,
Retaliation ,
Section 409A ,
Section 457(f) ,
Section 457A ,
Section 510 ,
Summary Judgment ,
Tax Exemptions ,
Termination ,
Tobacco-Cessation ,
U.S. Treasury ,
Wellness Programs
For large employers, the quest to reduce the cost of medical benefits relies in part on helping employees get healthier. Enter the “wellness program,” where employers offer incentives to employees and their families to be...more
6/2/2016
/ Affordable Care Act ,
Americans with Disabilities Act (ADA) ,
Employee Benefits ,
Employer Group Health Plans ,
Equal Employment Opportunity Commission (EEOC) ,
Final Rules ,
GINA ,
Health Insurance Portability and Accountability Act (HIPAA) ,
Incentives ,
Tobacco-Cessation ,
Wellness Programs