The SECURE 2.0 Act of 2022 requires certain 401(k) and 403(b) plans to include automatic enrollment and escalation features for the first plan year beginning after December 31, 2024, meaning that for those plans with a...more
The U.S. Department of Labor (DOL) announced two settlements with major insurance companies this month that highlight the importance of employers avoiding the collection of group life insurance premiums from employees until...more
6/28/2024
/ Benefit Plan Sponsors ,
Denial of Insurance Coverage ,
Department of Labor (DOL) ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Employer Liability Issues ,
Employer Responsibilities ,
ERISA Litigation ,
Fiduciary Duty ,
Insurance Industry ,
Insurance Litigation ,
Life Insurance ,
Open Enrollment ,
Premiums
Employers sponsoring 403(b) plans should be aware that we are nearing the deadline for adopting a pre-approved 403(b) plan that provides relief for any documentary noncompliance back to January 1, 2010 (or, if later, the...more