News & Analysis as of

Employee Retirement Income Security Act

Employee Retirement Income Security Act is a United States federal law enacted in 1974 to set minimum standards for pension and health plans in the private sector and to protect participants in those plans.... more +
Employee Retirement Income Security Act is a United States federal law enacted in 1974 to set minimum standards for pension and health plans in the private sector and to protect participants in those plans.  ERISA requires plans to provide information to participants, establishes a grievance process,  and allows participants to sue for benefits or breach of fiduciary duties.  less -

Recent Pennsylvania Superior Court Case Addresses the Messy Business of Divorce, Postnuptial Agreements and Death

A woman who dropped divorce proceedings three days after her husband died is entitled to the proceeds from his insurance policy but cannot claim his pension benefits, according to a recent Pennsylvania Superior Court ruling...more

I-22- The Benefits of Benefits: A Roundtable Discussion on Trending Benefits Issues for 2018

by Cozen O'Connor on

From tax and health care reform to employee wellness programs to even handheld electronic devices, why should your company be interested in today's hot benefits issues? In today's episode of Employment Law Now, a roundtable...more

DOL Finalizes 18-Month Fiduciary Rule Delay, Extends Enforcement Policy

by McGuireWoods LLP on

The Department of Labor (DOL) on Nov. 29 finalized additional delays to major aspects of its fiduciary rule by formally extending, by 18 months, certain transition period deadlines and applicability dates. Consequently, in...more

Department of Labor Extends Transition Period for Exemptions Under the Fiduciary Rule

On November 27, 2017, the U.S. Department of Labor (DOL) extended the transition period for its conflict of interest regulation (commonly referred to as the "fiduciary rule") until July 1, 2019....more

The DOL Fiduciary Rule: Charting A Course, Avoiding Collisions & Potential Litigation Q&A #4 - Q&As on Annuity Sales Practices,...

by Carlton Fields on

For the past several 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. This article continues that discussion. Recall...more

The DOL’s Fiduciary Rule: An Update And Practical Advice

by Carlton Fields on

This updates our August 15 blog entry, which targeted employers who sponsor retirement or welfare plans and are concerned about their fiduciary liabilities for properly selecting service providers....more

Plan Sponsors Should Take Action during the New Fiduciary Rule Transition Relief Period

On November 29, the Department of Labor (DOL) announced an extension to July 1, 2019, of the previously established deadline for transition relief from many provisions of the new fiduciary rule applicable to investment...more

Extension of DOL Fiduciary Rule is Official and some Guidelines for Documenting Rollovers

by Liskow & Lewis on

he Department of Labor officially announced the 18-month extension of the effective date of the key, and most onerous provisions, of the DOL Fiduciary Rule (until July 1, 2019). The announcement was made on November 29, 2017....more

Treasury’s Third Report on Financial System Regulation Focuses on the Asset Management and Insurance Industries

by Dechert LLP on

The U.S. Department of the Treasury (Treasury) recently released a report examining the regulatory framework for the asset management and insurance industries (Report). The Report is the third in a series of four reports that...more

ERISA: How Missing an Appeal Decision Deadline Can Change Policy Terms

It’s that time of year again… when you may see ERISA plans amending policies or plans— during the time employees are receiving benefits. Employers have the right to amend long term disability plans at any time, and to...more

It’s Official - Implementation of Final Rule on Disability Claims Procedures Formally Delayed

by Dickinson Wright on

On November 24, 2017, the Department of Labor (“DOL”) Employee Benefits Security Administration (“EBSA”) formally delayed the applicability date of previously issued final regulations imposing new claims procedures to...more

Employee Benefits Developments - November 2017

by Hodgson Russ LLP on

The Employee Benefits practice group is pleased to present the Benefits Developments Newsletter for the month of November 2017. Minimum Required Distributions – IRS Guidance for Handling Missing Participants - Missing...more

ERISA: Successfully Opposing Motions to Supplement the Record with Social Security Disability Determinations– the Advantage to De...

You already know that in ERISA life, health and disability claim determinations, “‘[i]n most cases…the district court should only look at the evidence that was before the plan administrator at the time of the determination.’”...more

Statute of Limitations and Third-Party Claims

by McGuireWoods LLP on

Plan administrators seeking a standard termination of a defined benefit pension plan must comply with very specific Employee Retirement Income Security Act (ERISA) rules and Pension Benefit Guaranty Corporation (PBGC)...more

The First State Auto IRA Is Up Running and Working So Why Do Some Business Groups Want These Plans to Fail?

by K&L Gates LLP on

As we go to press, a leading business trade group, backed by faulty legal “advice,” is aiming to kill state automatic individual retirement accounts (IRAs). Their immediate target is OregonSaves, which launched the first such...more

DOL kicks fiduciary rule enforcement until 2019

by Ary Rosenbaum on

As expected, the Department of Labor (DOL) has delayed enforcement of the main provisions of the new fiduciary rule. Provisions covering exemptions for best-interest contracts and principal transactions will now go into...more

When Is Your ERISA Plan or Flexible Benefit Plan Not Good Enough to Be a Bona Fide Plan?

by Winstead PC on

Employee benefit plan drafters frequently complete plan documents for their client’s use assuming that the document’s status as an employee benefit plan under the Employee Retirement Income Security Act of 1974 (‘‘ERISA’’) or...more

The Friday Five: Five Current ERISA Litigation Highlights

On November 29, 2017, the Department of Labor (DOL) further delayed and extended the applicability date of the 2016 Final Rule amending claims procedures for ERISA-covered employee benefit plans. Previously, the Final Rule...more

Department of Labor Finalizes 18-Month Extension for Simplified Compliance With the BIC Exemption Under the ERISA Fiduciary Advice...

On November 29, the US Department of Labor (DOL) finalized its 18-month extension of the transition period under the Best Interest Contract Exemption (the "BIC Exemption"). As described in Katten's earlier advisory,...more

United States Judicial Panel on Multidistrict Litigation: November Meeting Overview

The next hearing session of the United States Judicial Panel on Multidistrict Litigation is scheduled for November 30, 2017 in St. Louis, Missouri. Eight matters are set for oral argument to consider motions to transfer each...more

President Trump Once Again Attempts To Dismantle The Affordable Care Act

by Fisher Phillips on

After multiple failed attempts by Congress to reform the Affordable Care Act (ACA), President Trump announced several weeks ago that the federal government would stop making subsidy payments to insurers who sell coverage...more

It’s Official! DOL Finalizes Delay

by Morgan Lewis on

The Fiduciary Rule transition period is extended until mid-2019, with financial institutions having flexibility in complying with the impartial conduct standards during this period....more

EBSA Formally Extends Applicability Date of Disability Claims Regulations to April 1, 2018; Time to Comment on the Regulations...

In today’s Federal Register, the Employee Benefits Security Administration (EBSA) of the U.S. Department of Labor has published its notice delaying, by 90 days, the applicable date of its final rule amending the disability...more

What Should Employers Do About the Delay In the New Disability Claims Procedure Requirements?

by Bond Schoeneck & King PLLC on

On November 24, 2017, the United States Department of Labor ("DOL") announced a 90-day delay in the effective date of regulations that will significantly change the claims procedure requirements for employee benefit plans...more

Confirm what the auditor says

by Ary Rosenbaum on

If you have a retirement plan with more than 100 participants, you probably have a plan audit (if you have more than 120 participants, you do). Like with any plan providers, there a lot of great auditors out there and some...more

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