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Employee Retirement Income Security Act Pension Benefit Guaranty Corporation

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 -

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

Sun Capital Redux: Private Equity Fund Seeks Declaratory Judgment on Controlled Group Liability for Portfolio Company's Pension...

by Proskauer Rose LLP on

In light of the recent decisions by the U.S. Court of Appeals for the First Circuit and the U.S. District Court for the District of Massachusetts in Sun Capital, private investment funds, multiemployer pension funds and the...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

PBGC Issues Guidance on ‘Active Participant Reduction’ Reportable Events

by McGuireWoods LLP on

On Sept. 15, the Pension Benefit Guaranty Corporation (PBGC) issued a technical update providing interim guidance under its final rule on reportable events for defined benefit pension plans and their sponsors. This...more

Hurricane Harvey and Tropical Storm Harvey: What Kind of Relief May Employers Offer to Affected Employees? What About Hurricane...

by Epstein Becker & Green on

Employers with employees and operations impacted by Hurricane and Tropical Storm Harvey are asking what type of compensation, employee benefits, and tax relief may be available to them and their affected employees. There are...more

DOL and IRS Issue Guidance for Employee Benefit Plans Impacted by Hurricane Harvey

In the wake of massive floods caused by Hurricane Harvey, the Department of Labor (DOL), Internal Revenue Service (IRS), and Pension Benefit Guaranty Corporation (PBGC) have issued initial employee benefit plan guidance. The...more

Shoring up the PBGC’s Insurance Program for Multiemployer Plans

by Thompson Coburn LLP on

The Pension Benefit Guaranty Corporation (PBGC) provides insurance for benefits provided under two types of private sector defined benefit plans; single employer plans and collectively bargained plans that are maintained by...more

Pension Plan Sponsors – When “De-Risking”, Select Annuity Providers With Care

by Foley & Lardner LLP on

Employer-sponsored retirement plans come in many varieties. For example, under 401(k) and other defined contribution plans, employees and, often, employers may make specific contributions to an employee’s plan account...more

ERISA ‘Church Plan’ Exemption Applies to Religiously Affiliated Hospital Plans

by McGuireWoods LLP on

In a victory for religiously affiliated hospitals sponsoring defined benefit (DB) plans, the U.S. Supreme Court ruled on June 5 that such plans need not have been originally established by churches to be exempt from ERISA....more

Supreme Court clarifies definition of ‘church plan’ under ERISA

by Thompson Coburn LLP on

The Supreme Court on June 5, 2017, unanimously held that a benefits plan administered by an entity that is associated with a church and has as its principal purpose the administration or funding of that plan is a “church...more

The Supreme Court’s Church Plan Decision

by Seyfarth Shaw LLP on

Seyfarth Synopsis: The Supreme Court has held unanimously that a 1980 amendment to ERISA means that a pension benefit plan need not be established by a church in order to be exempt from ERISA rules, including most...more

High Court Agrees Pension Plans Sponsored by Church-Affiliated Hospitals Are ERISA-Exempt and Upholds Decades of IRS, PBGC and DOL...

by Genova Burns LLC on

In a much-anticipated decision, on June 5 the U.S. Supreme Court held that a pension plan sponsored by a religious affiliated nonprofit hospital qualifies as an ERISA-exempt church plan even though the plan was not initially...more

Supreme Court Unanimously Rules In Favor Of Church-Affiliated Hospitals For ERISA Exemption

by Kiesewetter Law Firm on

On June 5, 2017, the Supreme Court unanimously ruled in favor of three church-affiliated health care system retirement plan sponsors holding that such plan are covered by the exemption for church-affiliated plans under the...more

Canadian Court Dismisses ERISA “Controlled Group” Claim

by Latham & Watkins LLP on

Decision creates a substantial barrier to controlled group claims in Canada, may provide a template for other jurisdictions. Key Points: ..ERISA controlled group liability is joint and several for all members of a pension...more

The First Dinosaur Has Died

by Jackson Lewis P.C. on

The New York Teamsters Road Carriers Local 707 Pension Fund (the “Local 707 Pension Fund”) is dead, reportedly having run out of money in early March 2017. The Pension Benefit Guaranty Corporation (“PBGC”) the federal...more

ERISA: US Supreme Court Grapples with the Church Plan Exemption — Early Analysis

When does the “church plan exemption” apply? You already know that under the “church plan” exemption, Church plans do not have to comply with ERISA, including the requirements to fund a plan and pay Pension Benefit...more

Church Plan Cases: Federal Agencies Finally Speak

by Jackson Lewis P.C. on

As many of you know, currently pending before the Supreme Court are consolidated cases from the Third, Seventh, and Ninth Circuits holding that, for religiously affiliated employers, employee benefits plans must initially be...more

Litigation Alert: Leasing Property Isn’t “Automatic” Trade or Business for PBGC Liability; Asset Purchasers Generally Not Liable...

by Reed Smith on

When a single-employer defined benefit plan is terminated with insufficient assets to pay its benefit obligations, the plan sponsor and members of the sponsor’s controlled group are held jointly and severally liable to the...more

The Supreme Court’s New Church Plan Cases — How They Might Affect ERISA Litigation Generally

by Seyfarth Shaw LLP on

Seyfarth Synopsis: The Supreme Court’s grant of certiorari in three Church Plan cases presents the possibility that many Church Plans thought for years to be exempt from ERISA rules, including its funding rules, will now have...more

Supreme Court to Hear Church Plan Litigation

by McDermott Will & Emery on

On December 2, 2016, the Supreme Court of the United States granted the petitions for writs of certiorari to Advocate Health Care, et al. v. Stapleton, Maria, et al., St. Peter’s Healthcare, et al. v. Kaplan, Laurence and...more

Employee Benefits Developments - November 2016

by Hodgson Russ LLP on

The Employee Benefits practice group is pleased to present the Benefits Developments Newsletter for the month of November, 2016. ACA Information Reporting – Bad News and Good News - First, the bad news: The 2016 final...more

A Trump Presidency: Potential Impact on Employee Benefits Law and Policy

by Franczek Radelet P.C. on

For many months, we have been speculating about how the results of the 2016 presidential election would impact employee benefits policy going forward. Now that Donald Trump has won the election and Republicans have secured a...more

PBGC Proposed Rule May Offer DC Plans New Tool for Finding Missing Participants

by Bryan Cave on

For many years, the PBGC has been helping reunite missing participants with their benefits under single-employer defined benefit plans. Now, a new PBGC proposed rule may open up the program to missing participants under other...more

Proposed Changes to Form 5500 Reporting Requirements May Have Significant Impact on Retirement Plan Sponsors

by McDermott Will & Emery on

On July 11, 2016, the Department of Labor (DOL), Internal Revenue Service (IRS) and Pension Benefit Guaranty Corporation (PBGC) announced a proposal to implement sweeping changes to the forms and regulations that govern...more

Employee Benefits Developments - June 2016

by Hodgson Russ LLP on

The Equal Employment Opportunity Commission (EEOC) issued final regulations describing how the Americans with Disabilities Act (ADA) and the Genetic Information Nondiscrimination Act (GINA) apply to employer wellness...more

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