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Benefit Plan Sponsors Department of Labor (DOL) Employee Benefits

Akerman LLP - Health Law Rx

MHPAEA Final Rule: Clarity on Mental Health Parity?

The three federal agencies tasked with enforcement of the Mental Health Parity and Addiction Equity Act (MHPAEA) — the Departments of Labor, Health & Human Services (through CMS), and Treasury (the Departments) — issued their...more

McDermott Will & Emery

Landmark Mental Health Parity Final Rule: What Plan Sponsors and Insurers Need to Know

McDermott Will & Emery on

The US Departments of the Treasury, Labor, and Health and Human Services (the Departments) recently issued much-anticipated final regulations under the Mental Health Parity and Addiction Equity Act (MHPAEA). The newly issued...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Predictions In The 401(k) Space

Whether it’s a presentation or an article, predictions over the fu- ture don’t usually add up. Sure, then the 1964 World’s Fair predicted video phone calls, we all still don’t have our jet- packs, and an article on the Mets...more

Proskauer - Employee Benefits & Executive...

DOL Updates Guidance on Pension and Health & Welfare Plan Cybersecurity Best Practices

In 2021, the U.S. Department of Labor (DOL) issued 3 documents outlining guidance on cybersecurity practices for benefits plans, which we discussed in a blog post at the time. The DOL recently issued revised versions of the...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

The Essential Plan Providers Needed For A 401(k) Plan

When people are sick, especially with debilitating illnesses or diseases, it’s natural for them to travel far and wide to get the best medi- cal coverage possible. People who are ill will try to find the best medical coverage...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Don’t use forfeitures to reduce

There are plenty of cases out there, arguing that plan sponsors that use forfeitures to reduce employer contributions rather than paying administrative expenses are creating a fiduciary breach and a prohibited transaction....more

Verrill

Prepare for Cooler Weather, Annual Enrollment, and 2025

Verrill on

Summer is ending and fall is rapidly approaching. For employee benefit professionals with calendar-year health and welfare benefit plans that means preparing for annual enrollment and year-end compliance requirements. This...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

In Praise Of Fee Disclosure

People who didn’t sponsor a plan or weren’t involved in the retirement plan industry before 2012, think some 401(k) industry veterans like myself, are part of some multiverse when we talk about life before fee disclosure. The...more

Kaufman & Canoles

ESOPs, Benefits & Compensation Q2 2024 Client Update

Kaufman & Canoles on

On behalf of the ESOPs, Benefits & Compensation team, we hope your Summer is off to a great start. In the time of family vacations and out-of-office replies, the pace of employee benefits changes—both large and small—remains...more

Groom Law Group, Chartered

DOL Proposes Exemption for Pension “De-Risking” with Captive Insurer

Earlier this month, the Department of Labor proposed a significant prohibited transaction exemption that would allow a plan sponsor’s captive insurer to reinsure pension annuity risks. Proposed Exemption From Certain...more

Goodwin

The U.S. Department Of Labor’s New Definition of Fiduciary Investment Advice Is Finalized (Again)

Goodwin on

The Department of Labor (DOL) has issued a new regulation defining fiduciary “investment advice” under the Employee Retirement Income Security Act of 1974 (ERISA), as amended, and Section 4975 of the Internal Revenue Code of...more

Faegre Drinker Biddle & Reath LLP

IRS Proposed Regulations for Plan Forfeitures

Today, employees are more likely than ever to seek new employment opportunities and change jobs. These employees may leave a company before becoming fully vested in their qualified retirement plan benefits – which may result...more

Stinson - Benefits Notes Blog

DOL Settlements Remind Employers to Avoid Collecting Premiums Until Evidence of Insurability is Approved

The U.S. Department of Labor (DOL) announced two settlements with major insurance companies this month that highlight the importance of employers avoiding the collection of group life insurance premiums from employees until...more

Bricker Graydon LLP

Did Your Auditors Find an Error During Your Plan Audit?

Bricker Graydon LLP on

It is the first week of summer, even though in Ohio the smoldering heat has made it feel like summer for weeks now. Summer reminds many of us of pool days, eating watermelon and corn on the cob, Fourth of July fireworks, and...more

Eversheds Sutherland (US) LLP

DOL Final Rule 4.0 - Correcting the historical record

From the 2010 outset of its project to extend ERISA fiduciary status broadly to financial intermediaries, including insurance agents, the US Department of Labor (DOL) has consistently relied on the evolution of the private...more

McDermott Will & Emery

It’s the Plan Assets, Stupid: Why Group Medical Stop-Loss Captives and Level-Funded Plans Don’t Mix

McDermott Will & Emery on

A question in response to last week’s post on self-funding of employer group health plans assumed that stop-loss coverage under a level-funded plan could be provided under a group captive medical captive. However, it cannot...more

Morgan Lewis

Secure Act 2.0: DOL and IRS Issue Coordinated Guidance on PLESAS

Morgan Lewis on

The US Department of Labor and Internal Revenue Service have issued coordinated guidance on the pension-linked emergency savings account (PLESA), a new in-plan emergency savings account feature created by the SECURE 2.0 Act...more

Holland & Hart - The Benefits Dial

You Say It’s Your Birthday?! Well, It’s ERISA’s Birthday, Too!

Employee benefits law is mostly drawn from two federal sources—the Internal Revenue Code and ERISA. Just what is “ERISA,” though? Its official reference is the “Employee Retirement Income Security Act of 1974.” That means the...more

Miller Canfield

DOL’s Latest Regulatory Package Expands Definition of Fiduciary

Miller Canfield on

The Department of Labor ("DOL") recently issued a regulatory package that includes a final rule updating ERISA's definition of an investment advice fiduciary and amending certain related prohibited transaction exemptions...more

Morgan Lewis

DOL Publishes QPAM Exemption Amendments: Action Items and Considerations for QPAMS, Plan Sponsors

Morgan Lewis on

The US Department of Labor (DOL) published final amendments to Prohibited Transaction Class Exemption 84-14, the so-called “QPAM Exemption,” in the Federal Register on April 3, 2024. The amendments are anticipated to affect...more

K&L Gates LLP

QPAM Exemption Amendment—Key Takeaways and Action Steps for Advisors and Other Stakeholders

K&L Gates LLP on

Executive Summary - Many investment advisers and other financial institutions rely on the Department of Labor’s QPAM Exemption when providing services to, and transacting with, employer-sponsored retirement plans, individual...more

Keating Muething & Klekamp PLL

Benefits Monthly Minute - April 2024

The April Monthly Minute looks at a recent court decision highlighting ERISA’s preemptive power in response to a 401(k) garnishment claim and explores the DOL’s latest steps towards creating an online search tool intended to...more

Morris, Manning & Martin, LLP

Voluntary Reporting for a Mandatory Database: DOL’s New Approach for the SECURE Act 2.0 Retirement Savings Lost and Found

On April 15, the Department of Labor (“DOL”) published a Notice of Proposed Information Request (the “Notice”), outlining its plan to create the Retirement Savings Lost and Found required by SECURE Act 2.0.  Although...more

Bricker Graydon LLP

Too Little, Too Late? Plan Contribution Timing Requirements and How to Correct Delays

Bricker Graydon LLP on

One of the most basic duties of a defined contribution plan sponsor is to ensure that that there is no delay and participants’ salary deferral elections are correctly and timely deposited into the retirement plan. Not only is...more

Hall Benefits Law

The DOL’s New “Economic Realities” Test to Determine Employee Status: ERISA Considerations for Benefit Plan Sponsors

Hall Benefits Law on

The Department of Labor (DOL) Wage and Hour Division issued final regulations, effective March 11, 2024, which are intended to serve as a practical guide to employers on how the DOL determines whether a worker is an employee...more

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