On October 14, 2021, the U.S. Department of Labor’s Employee Benefits Security Administration (the “DOL”) published in the Federal Register a new proposed regulation (the “Proposed Rules”) on fiduciary responsibility in...more
11/22/2021
/ Comment Period ,
Department of Labor (DOL) ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Environmental Social & Governance (ESG) ,
Fiduciary Duty ,
Financial Services Industry ,
Investment Adviser ,
Investment Management ,
Proposed Regulation ,
Proxy Voting Guidelines ,
Regulatory Agenda ,
Regulatory Reform ,
Retirement Plan
As we previously reported, the American Rescue Plan Act of 2021 (“ARPA”) created a special financial assistance program that is administered by the Pension Benefit Guaranty Corporation (“PBGC”) and intended to extend the...more
7/16/2021
/ American Rescue Plan Act of 2021 ,
Corporate Counsel ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Interim Final Rules (IFR) ,
Multiemployer Plan ,
New Guidance ,
PBGC ,
Pension Reform ,
Pensions ,
Retirement Plan ,
Withdrawal Liability
On November 3, 2020, the U.S. Department of Labor’s Office of the Solicitor of Labor (the “DOL”) issued an opinion letter (the “2020 Letter”) to the Securities Industry and Financial Markets Association (“SIFMA”) stating that...more
In this episode of the Proskauer Benefits Brief, partner Robert Projansky and special guest Garrett Fenton, senior attorney at Microsoft Corporation, discuss cyber theft of 401(k) plan accounts. Tune in as we discuss why...more
Editor's Overview -
Happy New Year. We wrap-up 2019 with an article that reflects on significant developments in ERISA litigation during 2019, and takes a look at what's on the horizon for 2020. The courts (at all levels)...more
1/17/2020
/ 401k ,
Affordable Care Act ,
American Arbitration Association ,
Arbitration ,
Article III ,
Benefit Plan Sponsors ,
Best Practices ,
Breach of Duty ,
Cadillac Tax ,
Department of Labor (DOL) ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Employer Liability Issues ,
Individual Mandate ,
Intel Corp. Investment Policy Committee v. Sulyma ,
IRS ,
Loss Causation ,
Multiemployer Plan ,
Pleading Standards ,
Retirement Plan ,
SCOTUS ,
Standing ,
Thole v U.S. Bank ,
Venue
On February 6, 2019, the Pension Benefit Guaranty Corporation ("PBGC") issued a proposed rule that impacts how multiemployer pension plans in endangered or critical status calculate withdrawal liability. The rule is not yet...more
As we closed the door on 2018, we were met by two surprising decisions—one from a panel of the Second Circuit addressing employer stock drop litigation, and one from a federal district court in Texas declaring the entire...more
1/11/2019
/ 403(b) Plans ,
Affordable Care Act ,
Amgen v Harris ,
Breach of Duty ,
Constitutional Challenges ,
Disclosure Requirements ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
FIfth Third Bancorp v Dudenhoeffer ,
Hardship Distributions ,
Health Insurance ,
IRS ,
Plan Administrators ,
Proposed Regulation ,
Section 409A ,
Securities and Exchange Commission (SEC) ,
Stock Drop Litigation ,
Tax Cuts and Jobs Act
In this benefits law edition of The Proskauer Brief, senior counsel Anthony Cacace and partner Robert Projansky discuss how severance plans can be subject to ERISA. We will discuss the key advantages of having severance pay...more
Editor's Overview -
For over two decades, federal law has required covered health plans and insurers to ensure that certain mental health benefits are in parity with offered medical/surgical benefits. The meaning of...more
1/9/2018
/ 401k ,
Affordable Care Act ,
Attorney's Fees ,
Benefit Plan Sponsors ,
Claim Procedures ,
Compensation & Benefits ,
Cost-Sharing ,
Deferred Compensation ,
Department of Health and Human Services (HHS) ,
Department of Labor (DOL) ,
Disability ,
Disability Benefits ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Enforcement Actions ,
Fiduciary Duty ,
Health Savings Accounts ,
Healthcare Facilities ,
Healthcare Reform ,
Income Taxes ,
Individual Retirement Account (IRA) ,
Mental Health ,
Mental Health Parity Rule ,
MHPAEA ,
Public Health Service Act ,
QMAC ,
QNEC ,
Securities and Exchange Commission (SEC) ,
Sexual Harassment ,
Shared Responsibility Rule ,
Statute of Repose ,
Tax Deductions ,
Tax Reform ,
User Fees
Editor's Overview -
Welcome once again to Proskauer's newly revamped ERISA Newsletter. As a reminder, readers can obtain the information in this Newsletter as it is published on our blog.
Our featured article this...more
7/7/2017
/ 401k ,
American Health Care Act (AHCA) ,
Church Plans ,
Class Action ,
Conflicts of Interest ,
Department of Labor (DOL) ,
Employee Retirement Income Security Act (ERISA) ,
ESOP ,
Fiduciary Rule ,
Hardship Distributions ,
Healthcare Reform ,
Hospitals ,
Investment Adviser ,
IRS ,
Labor Management Relations Act (LMRA) ,
Mental Health Parity Rule ,
MHPAEA ,
Pension Funds ,
Preemption ,
Qualified Retirement Plans ,
Request For Information ,
Split of Authority ,
Stock Drop Litigation ,
Summary Plan Description ,
Taft-Hartley Plan Trustees ,
Trustees
This month we review a recent Second Circuit decision addressing ERISA plan status as a class member in a securities shareholder class action. As discussed in the article, the decision exposes a potential conflict among the...more
12/1/2016
/ AARP ,
Administrative Procedure Act ,
Affordable Care Act ,
Americans with Disabilities Act (ADA) ,
Appeals ,
Best Interest Contract Exemptions ,
Budget Recollection Legislation ,
Class Action ,
Department of Labor (DOL) ,
Dismissals ,
Due Process ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Employer Group Health Plans ,
Equal Employment Opportunity Commission (EEOC) ,
Fiduciary Duty ,
Fiduciary Rule ,
Filing Deadlines ,
GINA ,
Investment Adviser ,
IRS ,
National Association for Fixed Annuities (NAFA) ,
Preemption ,
Preliminary Injunctions ,
Presidential Elections ,
Repeal ,
Retirement Plan ,
Reversal ,
Securities Litigation ,
Shareholder Litigation ,
Slayer Statutes ,
Summary Judgment ,
Trump Administration ,
Wellness Programs
On April 6, 2015, the U.S. Department of Labor (Department) issued its final rule defining who is a fiduciary of an employee benefit plan under the Employee Retirement Income Security Act of 1974 (ERISA) as a result of giving...more
Editor's Overview -
This month we feature three key developments. First, we review the U.S. Supreme Court's decision in Gobeille v. Liberty Mut. Ins. Co., 136 S. Ct. 936, 947 (2016) wherein the Supreme Court held that a...more
4/27/2016
/ 401k ,
Benefit Plan Sponsors ,
Best Interest Contract Exemptions ,
Best Interest Standard ,
Closely Held Businesses ,
Collective Bargaining Agreements (CBA) ,
Conflicts of Interest ,
Controlled Groups ,
Department of Labor (DOL) ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Fiduciary Duty ,
FIfth Third Bancorp v Dudenhoeffer ,
Final Rules ,
Forum Selection ,
Gobeille v Liberty Mutual Insurance Com. ,
Individual Retirement Account (IRA) ,
Investment Adviser ,
M&G Polymers v Tackett ,
Multiemployer Plan ,
Participant-Directed Plans ,
Partnership-in-Fact ,
PBGC ,
Preemption ,
PTEs ,
Reporting Requirements ,
Retirement Plan ,
SCOTUS ,
Stock Drop Litigation ,
Sun Capital Partners ,
UAW ,
Vesting ,
Withdrawal Liability
On April 6, 2015, the U.S. Department of Labor (Department) issued its highly anticipated final rule addressing when a person is considered to be a fiduciary under the Employee Retirement Income Security Act of 1974 (ERISA)...more
4/20/2016
/ Best Interest Contract Exemptions ,
Best Interest Standard ,
Broker-Dealer ,
CFTC ,
Compensation ,
Conflicts of Interest ,
Department of Labor (DOL) ,
Dodd-Frank ,
Employee Retirement Income Security Act (ERISA) ,
Fiduciary Duty ,
Final Rules ,
Individual Retirement Account (IRA) ,
Investment Adviser ,
PTEs ,
Retirement Plan ,
Securities ,
Securities and Exchange Commission (SEC) ,
Security-Based Swaps ,
Swap Dealers
On April 6, 2016, the U.S. Department of Labor will release its highly-anticipated Final Rule and Exemptions addressing when a person providing investment advice with respect to an employee benefit plan or individual...more
Editor's Overview -
In this month's newsletter, we focus on the recent wave of guidance and case law related to the Affordable Care Act. We also discuss IRS Notice 2015-86, which provides guidance on the application of...more
1/4/2016
/ Affordable Care Act ,
Attorney's Fees ,
Automatic Enrollment ,
Burwell v Hobby Lobby ,
Cadillac Tax ,
Contraceptive Coverage Mandate ,
Department of Labor (DOL) ,
Disability Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Good Faith ,
Health and Welfare Plans ,
HRA ,
IRS ,
Mental Health Parity Rule ,
Obergefell v. Hodges ,
PBGC ,
Preventive Health Care ,
Qualified Retirement Plans ,
SCOTUS ,
US v Windsor ,
Wellness Programs
Editor's Overview -
As the summer draws to a close, this month's Newsletter previews three cases that the U.S. Supreme Court already has agreed to hear that ought to be of particular interest to ERISA plan sponsors and...more
8/28/2015
/ 401k ,
Actual Injuries ,
Affordable Care Act ,
Article III ,
Benefit Plan Sponsors ,
COBRA ,
Defined Benefit Plans ,
Defined Contribution Plans ,
Delta Airlines ,
Department of Health and Human Services (HHS) ,
Department of Labor (DOL) ,
Duty to Disclose ,
Employee Retirement Income Security Act (ERISA) ,
Equitable Relief ,
Fair Credit Reporting Act (FCRA) ,
Fiduciary Duty ,
FIfth Third Bancorp v Dudenhoeffer ,
Final Rules ,
HDHP ,
Health Insurance ,
Health Plan Sponsors ,
HSA ,
IRS ,
Medicaid ,
Medicare ,
Montanile v Board of Trustees ,
Non-Grandfathered Health Plans ,
PBGC ,
Penalties ,
Preemption ,
Reimbursements ,
Reporting Requirements ,
SCOTUS ,
Section 510 ,
Spokeo v Robins ,
Standing ,
Stock Drop Litigation ,
Subrogation ,
Summary of Benefits and Coverage ,
Tax Credits ,
Trade Adjustment Assistance ,
Trade Preferences Extension Act (TPEA) ,
U.S. Treasury
Editor's Overview -
This month's article by Lindsey Chopin discusses Affordable Care Act ("ACA") litigation. Just five years old, the Supreme Court has considered issues related to the ACA numerous times. Two of those...more
7/29/2015
/ Affordable Care Act ,
Burwell v Hobby Lobby ,
Chapter 11 ,
Class Certification ,
Clawbacks ,
Commercial Bankruptcy ,
Contraceptive Coverage Mandate ,
Department of Labor (DOL) ,
Dodd-Frank ,
Due Process ,
Employee Retirement Income Security Act (ERISA) ,
Employer Mandates ,
Equal Protection ,
Executive Compensation ,
Fourteenth Amendment ,
General Motors ,
Incentive Compensation ,
Individual Mandate ,
IRS ,
King v Burwell ,
Loss Causation ,
Medicaid Expansion ,
Mental Health Parity Rule ,
Obergefell v. Hodges ,
Public Health Service Act ,
Putative Class Actions ,
Same-Sex Marriage ,
SCOTUS ,
Securities and Exchange Commission (SEC) ,
State Health Insurance Exchanges ,
UAW ,
Venue
As employers and plans prepare for 2016 open enrollment, they must be sure to address in their benefit design and with their third party vendors the new embedded out-of-pocket maximum limitations on individuals that were...more
7/13/2015
/ Affordable Care Act ,
Benefit Plan Sponsors ,
Cost-Sharing ,
Department of Health and Human Services (HHS) ,
Department of Labor (DOL) ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Employer Group Health Plans ,
Essential Health Benefits ,
HDHP ,
HSA ,
IRS ,
Non-Grandfathered Health Plans ,
Open Enrollment ,
Out-of-Pocket Expenses ,
Summary Plan Description ,
U.S. Treasury
On April 14, 2015, the U.S. Department of Labor (DOL) issued its highly anticipated re-proposed regulation addressing when a person providing investment advice with respect to an employee benefit plan or individual retirement...more
This month's newsletter focuses on how Plan Trustees can appropriately settle ERISA breach of fiduciary duty claims in order to achieve "complete peace." The article provides a check list and discusses strategies for handling...more
This month we discuss the evolving case law on the issue of whether unpaid employer contributions due under a collective bargaining agreement can be viewed as plan assets such that the individuals who decide to withhold such...more
In This Issue:
- Labor and Employment and ERISA Class Actions After Wal-Mart and Comcast — Practice Points for Defendants (Part I – Commonality)*
- Agencies Release Guidance on HRAs, FSAs, and Employer Payment...more
11/22/2013
/ Affordable Care Act ,
Class Action ,
Class Certification ,
Comcast ,
Competition ,
Damages ,
Discrimination ,
Dukes v Wal-Mart ,
Employee Retirement Income Security Act (ERISA) ,
FICA Taxes ,
Flexible Spending Accounts ,
FRCP 23 ,
Gender Discrimination ,
Healthcare ,
Healthcare Reform ,
HRA ,
IRS ,
Penalties ,
Same-Sex Marriage ,
SCOTUS ,
Section 409A ,
Severance Pay ,
Tax Refunds ,
US v Windsor ,
Wal-Mart