News & Analysis as of

The United States Department of Labor Employee Retirement Income Security Act

The United States Department of Labor is a federal executive department established in 1913 and headed by the Secretary of Labor. The Department's mission is to promote workers's general welfare and... more +
The United States Department of Labor is a federal executive department established in 1913 and headed by the Secretary of Labor. The Department's mission is to promote workers's general welfare and improve working conditions. less -

Labor Secretary Discusses DOL Priorities During House Committee Hearing

by Littler on

Labor Secretary Alexander Acosta fielded a range of questions on the DOL's priorities during a November 15 hearing before the House Committee on Education and the Workforce. Although members of the Committee inquired about...more

Watch for any Potential Conflicts of Interest

by Ary Rosenbaum on

It’s amazing sometimes how people are blind to conflicts of interest that are as clear as day. In my local hamlet, the Library Board hired a School District board member as their attorney even though there is a financial...more

Settling the Standard for Prudence? Fall Brings New Guidance for ESOP Trustees

by McDermott Will & Emery on

Through a series of recent settlements, the US Department of Labor has outlined the process steps fiduciaries should follow in connection with a transaction involving a purchase from, or sale to, an employee stock ownership...more

IRS Issues Memo on Missing Participant Search Standards

On October 19th, the IRS released a memorandum titled “Missing Participants and Beneficiaries and Required Minimum Distributions” (the “Memo”) to its plan auditors that provides guidelines for when a plan’s efforts to locate...more

ERISA’s Six-Year Statute of Repose for Fiduciary-Breach Claims Can Be Tolled

The Eleventh Circuit ruled that ERISA’s six-year statute of repose can be tolled by the parties even though it is a statute of repose. During pre-litigation negotiations between the U.S. Department of Labor and a trustee of...more

Department of Labor's Fiduciary Rule

by Ropes & Gray LLP on

David Tittsworth, Ropes & Gray investment management counsel, analyzes the possible fate of the Department of Labor’s Fiduciary Rule. ____ In April 2016, the Department of Labor issued a final rule that amends the...more

Don’t want to call an ERISA attorney? It’ll snowball

by Ary Rosenbaum on

The snowball effect is a term for a process that starts from something that is small and builds upon itself, becoming larger and also perhaps potentially dangerous or disastrous. The idea is that an avalanche can be started...more

Expanding Association Health Plans—Which Agencies Need to do What

On October 13th, President Trump signed an Executive Order directing various federal agencies to consider how to achieve three administration health reform objectives: (1) expand access to Association Health Plans (AHPs); (2)...more

Weekly Update Newsletter - October 2017 #2

by PilieroMazza PLLC on

GOVERNMENT CONTRACTS - “Conferees Will Determine Fate of Defense Bill Provision to Deter Frivolous Contractor Bid Protest” Government Executive, October 13, 2017. Retrieved from govexec.com Senators, as they have in...more

Find those “missing” plan participants

by Ary Rosenbaum on

Missing plan participants are usually only an issue when a retirement plan decides to terminate and wants to avoid dragging out the process and having to file another Form 5500....more

Is the New Moral Exemption From ACA Contraceptive Coverage a Game Changer?

Any privately held, for-profit company could potentially be exempt from the Affordable Care Act’s (ACA) requirement to provide comprehensive contraceptive coverage without cost-sharing based on the company’s “sincerely held...more

Association Health Plans: What Are They & What’s Changing?

by Nilan Johnson Lewis PA on

What are Association Health Plans? Association Health Plans allow small employers or self-employed individuals to group together to form a larger pool for offering health insurance. An Association Health Plan model can...more

The DOL Fiduciary Rule: Charting a Course, Avoiding Collisions & Potential Litigation Q&A #2 - Q&As on Annuity Sales Practices,...

by Carlton Fields on

Last month, we wrote about potential litigation issues under the “revised temporary” DOL Rule involving the offer and sale of annuities in the IRA market. This paper continues that discussion. I emphasize to the reader that...more

The Fiduciary Rule Status Update

by Carlton Fields on

On April 8, the Department of Labor published the so-called "Fiduciary Rule." It defines who is an employee benefit plan’s "fiduciary" for purposes of the Employee Retirement Income Security Act (ERISA) and the Internal...more

“A Strong Pull on the Threads Holding Obamacare Together:” President Trump’s October 12, 2017 Affordable Care Act Executive Order

by LeClairRyan on

President Trump’s Executive Order titled “Promoting Healthcare Choice and Competition Across the United States” seeks to reform certain aspects of the Affordable Care Act (“ACA” or “Obamacare”) by Executive Agency action...more

Association Health Plans … Someday … Maybe

by Balch & Bingham LLP on

The October 12, 2017 “Executive Order Promoting Healthcare Choice and Competition Across the United States” gets things rolling, but this ball will have to roll up hill for months before it can roll downhill. Here’s...more

BREAKING NEWS — ERISA: DOL Publishes TODAY Proposed Rule to Delay Implementation of New ERISA Claims Regulations?

You already know that since December 2016 the United States Department of Labor (DOL) has been reworking regulations governing disability plan administration. ...more

Can The President Nullify The Affordable Care Act By Issuing Executive Orders?

President Trump issued an Executive Order yesterday which purports to suggest three avenues for offering health insurance at a decreased cost to small employers and consumers for the overall goal of reducing healthcare costs...more

Department of Labor Proposes to Delay Implementation of Disability Claim Regulations

On October 6, 2017, the Department of Labor signed a proposed Rule “to delay for ninety (90) days – through April 1, 2018 – the applicability of the Final Rule amending the claims procedure requirements applicable to...more

Global Private Equity Newsletter - Fall 2017 Edition: The DOL's Fiduciary Rule and Sales/Marketing Activities

by Dechert LLP on

The U.S. Department of Labor on April 6, 2016 released the final version of its “investment advice” regulation and accompanying prohibited transaction exemptions (collectively, the “Final Rule”), a highly-anticipated...more

The DOL Fiduciary Rule: Charting a Course, Avoiding Collisions & Potential Litigation Q&A #3 - Q&As on Annuity Sales Practices,...

by Carlton Fields on

For the past two months, we have written about potential litigation issues under the “revised temporary” DOL Rule involving the offer and sale of annuities in the IRA market. We continue that discussion here. As in the past,...more

ERISA Newsletter - Third Quarter 2017

by Proskauer Rose LLP on

Editor's Overview - As we have observed on other occasions, the ERISA class action plaintiffs' bar has, for several years now, honed in on 401(k) plan fiduciaries and their decisions to select and retain investment options...more

Employee Benefits Developments - September 2017

by Hodgson Russ LLP on

Arbitration Clause in Employee Handbook Requires Participant to Arbitrate Fiduciary Breach Claims Against Investment Advisor - Cooper v. Ruane Cunniff & Goldfarb Inc. (S.D.N.Y. 2017) - In a major victory for an...more

Obama’s DOL Fiduciary Rule Fades into the Distance

by Bowditch & Dewey on

If you have an account in a retirement plan where you work or you own an Individual Retirement Account, you may get financial advice about the assets in your account from an investment advisor, broker, planner, or insurance...more

To Audit Or Not To Audit? A Good Question For Self-Funded Group Health Plans

by Jackson Lewis P.C. on

The rise in insurance premiums for group health plans has prompted many employers to reexamine the decision whether to fund participant health benefits with insurance or self-fund benefits and limit their claims risk by...more

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