When a participant terminates employment without being fully vested in their qualified retirement plan account, the non-vested portion of the account is a “forfeiture.” While forfeitures are a common element of most...more
In light of the U.S. Supreme Court ruling in Dobbs v. Jackson Women’s Health Organization overruling the constitutionally protected right to an abortion, many employers have announced various travel benefits that may cover...more
We are just past the “official” start of summer, which means it is time for sponsors of retirement plans and many health and welfare plans to think about preparing and submitting Form 5500. In this post on the All Things HR...more
A qualified retirement plan paying more in distributions than a participant is entitled to occurs frequently. Common reasons for overpayments include miscalculation of benefits due to systemic error, the plan sponsor being...more
The Department of Labor (“DOL”) has proposed a new safe harbor to allow employers to furnish information to participants and beneficiaries subject to ERISA....more
With immigration enforcement in the news, some employers may be wondering what responsibilities they have related to their retirement plans, if an employer discovers that an employee lacks documentation authorizing the...more
As I have discussed previously on Dickinson Wright’s All Things HR Blog, the Department of Labor’s (“DOL”) disclosure regulations with respect to electronic disclosure of ERISA plan-related documents and notices are woefully...more
It is well known by employers that nonqualified deferred compensation (“NQDC”) plans that are established to provide unfunded deferred compensation benefits to a select group of management or highly compensated employees...more
One common response we hear from employers when asked to provide a copy of their health or other welfare plan summary plan description (“SPD”), is whether providing a bundle of insurance certificates and/or summaries of...more
March and April will be critical months for employers who sponsor ERISA-governed employee benefit plans that provide benefits subject to the disability claim procedures. Any claims filed after April 1, 2018 will be subject to...more
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
On May 22, 2017, Secretary of Labor Jim Acosta announced that, after having been delayed 60 days, the Department of Labor’s (“DOL”) Conflict of Interest Rule (“Fiduciary Rule”) will largely apply on June 9, 2017. At that...more
Last week the U.S. Supreme Court issued its opinion in Tibble v. Edison International, a highly anticipated case involving whether ERISA’s six year statute of limitations for breach of fiduciary duty claims prevented a claim...more
On June 25, 2014, the Supreme Court of the United States unanimously held that there is no special presumption of prudence for fiduciaries of employee stock ownership plans (“ESOPs”). Fifth Third Bancorp v. Dudenhoeffer, No....more