News & Analysis as of

Employee Retirement Income Security Act (ERISA) Retirement Plan

Faegre Drinker Biddle & Reath LLP

The New Fiduciary Rule (48): Recommendations to Transfer IRAs (DOL)

The stay of the effective dates of the amended fiduciary regulation and amended exemptions means that the “old” DOL fiduciary regulation (the 5-part test) and the existing exemptions continue in effect indefinitely....more

Morgan Lewis - ML Benefits

DOL Reiterates Its Focus on Cybersecurity with Updated Guidance

The US Department of Labor (DOL) issued a press release on September 6, 2024 reminding ERISA plan fiduciaries that it considers cybersecurity to be an area of “great concern” and emphasizing that it continues to investigate...more

Faegre Drinker Biddle & Reath LLP

Rollover Recommendations: PTE 2020-02 Compliance Considerations Following the DOL Fiduciary Rule Stay

The effective date of the DOL’s new expansive fiduciary rule and the amendments to Prohibited Transaction Exemption (PTE) 2020-02 has been stayed pending the outcome of the lawsuits challenging the rule and the amended PTE....more

Troutman Pepper

9th Circ. Clarifies ERISA Preemption for Healthcare Industry

Troutman Pepper on

On May 31, the U.S. Court of Appeals for the Ninth Circuit published an opinion in Bristol SL Holdings Inc. v. Cigna Health and Life Insurance Co., which has significant implications for the healthcare industry. Originally...more

Carlton Fields

Second Circuit Rejects Enforcement of Class Waiver and Arbitration Agreement Under FAA, Finds That Provisions Impermissibly...

Carlton Fields on

The plaintiff sued the trustee of his retirement plan, his former employer, and others for breach of fiduciary duties in connection with the plan’s purchase of shares of the employer’s parent company for more than fair market...more

Holland & Hart - The Benefits Dial

Both Sides Now… Must Be Alert to Cybersecurity

by Becky Achten New guidance from the Employee Benefits Security Administration (EBSA) affirms that both sides—retirement plans and welfare plans—must take steps to secure participant data from cybercrime. In 2021 the...more

Morgan Lewis - ML Benefits

DOL QPAM Notification Deadline of September 15 Fast Approaching

The amendments to the QPAM Exemption include a September 15, 2024 notification deadline that will apply to many asset managers. This blog post includes a brief summary of the US Department of Labor’s (DOL’s) recent technical...more

Warner Norcross + Judd

50 Years of ERISA: Reflecting on the Past, Present and Future of Employee Benefits

Warner Norcross + Judd on

As we celebrate the 50th anniversary of the Employee Retirement Income Security Act of 1974 (ERISA), it is important to reflect on the impact this legislation has had on private sector employee benefit plans such as...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

Faegre Drinker Biddle & Reath LLP

The New Fiduciary Rule (47): Recommendations to Transfer IRAs (SEC)

The stay of the effective dates of the amended fiduciary regulation and amended exemptions means that the “old” DOL fiduciary regulation (the 5-part test) and the existing exemptions continue in effect indefinitely. As a...more

The Wagner Law Group

District Court Grants Motion to Dismiss Forfeiture Complaint

The Wagner Law Group on

Last year, we alerted you to the filing of several class action lawsuits alleging that plan fiduciaries violated their duties of prudence and loyalty under Title I of ERISA by using forfeitures to reduce employer...more

Lathrop GPM

Fifty Years of ERISA

Lathrop GPM on

On Labor Day fifty years ago, September 2, 1974, President Ford signed the Employee Retirement Income Security Act of 1974 (ERISA) into law. It is a combination of tax and labor law incorporating trust law like fiduciary...more

Warner Norcross + Judd

Attention Auto Suppliers: Don’t Leave Money on the Table Through Unused Retirement Forfeitures and Unallocated Accounts

We understand that running an automotive supplier business involves more than just industry-specific issues. That's why we regularly provide important insights and tips on broader legal trends to help you navigate challenges...more

Jackson Lewis P.C.

Class Action Alleges “Scheme” by TIAA and Morningstar to Drive Participants into TIAA’s Most Profitable Funds

Jackson Lewis P.C. on

On August 5, three Named Plaintiffs sued TIAA and Morningstar in the S.D.N.Y., claiming Defendants engaged in a “scheme to enhance corporate profits” by counseling participants to invest in two of TIAA’s most lucrative...more

Snell & Wilmer

Cheers to 50 Years of ERISA: A Major Milestone in Employee Protection

Snell & Wilmer on

As the Employee Retirement Income Security Act (“ERISA”) celebrates its 50th anniversary, it offers us an opportunity to reflect on its transformative impact on employee benefits and retirement security. Signed into law on...more

Vedder Price

Two Federal District Courts Stay DOL Fiduciary Rule

Vedder Price on

On July 25, 2024, the U.S. District Court for the Eastern District of Texas stayed the U.S. Department of Labor’s (DOL) recently-issued final rule, set to take effect September 23, 2024, which would amend the definition of an...more

Morgan Lewis - ML Benefits

What the End of the Chevron Doctrine May Mean for ERISA’s Fiduciary Provisions

In Loper Bright Enterprises v. Raimondo and Relentless Inc. v Department of Commerce, the Supreme Court held that both the United States’ constitutional structure and the Administrative Procedure Act preclude a court from...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Some Answers to Questions

As an ERISA attorney, I always have an open phone policy with plan sponsors, financial advisors, accountants, TPAs, and other attorneys from around the country on questions they may have about their plan or a client’s...more

Hogan Lovells

Court rulings put implementation of Department of Labor Fiduciary Rule on hold

Hogan Lovells on

Two federal district courts in Texas have issued orders staying the implementation of the United States Department of Labor’s (DOL) 2024 Fiduciary Rule (the Final Rule) and related prohibited transaction exemption amendments....more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Clues that it’s time for a plan review

As many of you know, I offer a Retirement Plan Tune-Up, a legal review for $750 that reviews the documentation, administration, costs, and the fiduciary process of a retirement plan....more

Morgan Lewis - ML Benefits

Withdrawal Liability Notice and Demand in Multiemployer Plans: Interpreting ‘As Soon as Practicable’ for Funds and Employers

A recent ruling by the US Court of Appeals for the Third Circuit serves provides a valuable reminder for multiemployer pension funds and contributing employers regarding ERISA’s withdrawal liability notice and demand...more

Davis Wright Tremaine LLP

How Does the Demise of Chevron Deference Affect Employee Benefit Plans and ERISA Regulatory Actions and Litigation?

Since 1984, citation to Chevron v. Natural Resources Defense Council ("Chevron") has meant that courts should defer to an agency's interpretations of an ambiguous statute—as long as the agency's interpretation is...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

The nuisance value

When I write about the need for plan sponsors to understand their responsibilities as plan fiduciaries and their potential liability if they ignore their duties, I hear the same complaints about my ideas. The complaint which...more

Faegre Drinker Biddle & Reath LLP

The New Fiduciary Rule (45): The Regulation and Exemptions are Stayed (5)—What Remains?

The stay of the effective dates of the amended fiduciary regulation and amended exemptions means that the “old” fiduciary regulation (the 5-part test) and the amended exemptions continue in effect indefinitely. As a result,...more

Nelson Mullins Riley & Scarborough LLP

Federal Court Finds Pension Plan “Established” by Hospital Authority is Exempt from ERISA

The case involves a dispute over the sponsorship and funding obligations for a pension plan formed by a Hospital Authority in Georgia. Our...more

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