News & Analysis as of

Third-Party Employee Benefits

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

The truth about index funds and fee disclosure

I’ve always been a big fan of index funds, probably more so when exchange-traded funds became a thing. From experience, most funds fail to meet the benchmarks. Yet, I grew up in the retirement plan business when it was...more

Ballard Spahr LLP

Prescription for Chaos: Copay Accumulator Programs Called Into Question

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Summary - Employers taking advantage of copay accumulator programs now face unexpected administrative complications following a recent federal court decision....more

Husch Blackwell LLP

Anatomy of an ESOP

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ESOPs can pay fair market value for the stock: Stock purchased by an ESOP must be appraised by an independent third party expert working with a trustee for the ESOP who must also be independent from the seller. The ESOP is...more

Pullman & Comley - Labor, Employment and...

Mortgage or other Third Party Loan Investments in Your Plan?  Do they Pass Muster under IRS Issue Snapshot?

The IRS Issue Snapshot-Third Party Loans from Plans dated August 23, 2022 is a short advice document for examiners to use when auditing tax-qualified retirement plans that invest in mortgages or other third party loans. IRS...more

Jackson Lewis P.C.

Plaintiffs’ Bar Shows Renewed Interest in COBRA Notice Litigation

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Numerous Fortune 500 companies around the country have recently seen a barrage of cases alleging that notices required under the Consolidated Omnibus Budget Reconciliation Act (COBRA) fail to provide all information required...more

Foley & Lardner LLP

CAA Compensation Disclosures: DOL’s New FAB Confirms the Scope is Broad

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The Consolidated Appropriations Act, 2021, Public Law 116-260 (CAA) set forth new compensation disclosure requirements that apply to service providers who provide “brokerage services” or “consulting” to group health plans...more

Wiley Rein LLP

Sixth Circuit Holds E&O Policy’s ERISA Exclusion Bars Coverage for Claims Against Trustee of Employee Stock Ownership Program

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Applying Ohio law, the United States Court of Appeals for the Sixth Circuit has concluded that an ERISA exclusion in a professional services liability insurance policy barred coverage for all ERISA-related Claims made against...more

Dentons

Even the DOL is Issuing Cybersecurity Instructions

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In April, the Department of Labor, specifically the Employee Benefits Security Administration, issued cybersecurity guidance to assist in protecting “the retirement benefits of America’s workers.”  This guidance falls neatly...more

Littler

“Medical Necessity” Isn’t Well-Defined Unless It Is Well-Defined

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A U.S. District Court in Connecticut recently issued an order that highlights the importance of understanding exactly what the term “medically necessary” means in an ERISA health plan....more

Seyfarth Shaw LLP

ERISA Preemption — The Courts of Appeal Continue to Rule As They Await Further Supreme Court Attempts To Define, Once and for All,...

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Synopsis: Two Courts of Appeal reach opposite results on ERISA preemption, thus continuing the judicial quest for a definitive meaning of ERISA preemption. Stay tuned for more such decisions, and yet more Supreme Court...more

Best Best & Krieger LLP

CalPERS Board Decision on Contract Workers Will Not Become Precedential. Now What? - Contract Workers May Still Be Reclassified as...

The CalPERS Board of Administration will not consider whether to establish the Tracy Fuller decision as a CalPERS precedent, we have confirmed. While the decision to not pursue Fuller as a precedential decision is welcome...more

BakerHostetler

Ohio Federal Court Rejects Attempt to Certify Class Against Third-Party Plan Administrator Under ERISA § 502(a)(3)

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Employee Retirement Income Security Act (ERISA) claims can potentially involve significant amounts in controversy, and in an effort to broaden the pool of potential defendants, ERISA plaintiffs are often fond of arguing that...more

McNees Wallace & Nurick LLC

Supreme Court Issues New Ruling on Workers’ Compensation Subrogation Reimbursement

In a recent case, decided on June 19, the Supreme Court of Pennsylvania granted appeal to clarify the scope of subrogation reimbursement under the Pennsylvania Workers Compensation Act (the “Act”)....more

Robinson & Cole LLP

How Secure is Your Retirement Plan?

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Most employers are generally aware of their fiduciary status as a “plan sponsor” of an ERISA-governed retirement plan (e.g., 401(k) and 403(b) plans). In fact, the employer’s hiring of a service provider is in and of itself a...more

Proskauer Rose LLP

The ERISA Litigation Newsletter - February 2013

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In This Issue: - Editor's Overview - View from Proskauer: Are Your Conversations Privileged under ERISA? - Rulings, Filings, and Settlements of Interest ...more

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