News & Analysis as of

Best Practices Employee Retirement Income Security Act (ERISA)

BCLP

Closing the Gap: Health and Welfare Compliance

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Even the most well-managed employee benefit plans may have certain compliance blind spots. From outdated documentation to missed filing deadlines, we have highlighted a few areas below where we often see gaps....more

Alston & Bird

Department of Labor's Temporary Policy Allows Voluntary Escheatment of Certain Retirement Benefits

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Our Unclaimed Property and Employee Benefits & Executive Compensation teams delve into the Department of Labor’s temporary ERISA enforcement policy for unclaimed retirement benefit payments of $1,000 or less....more

Holland & Hart LLP

Tenth Circuit Weighs in on Reductions in Force: Takeaways for Employers

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The Tenth Circuit affirmed summary judgment in favor of Spirit AeroSystems in a discrimination case related to a 2013 reduction-in-force (RIF). The plaintiffs had alleged that the company targeted older workers in a...more

Seyfarth Shaw LLP

The Department of Labor’s Expanded Cybersecurity Guidance: What ERISA Plan Sponsors and Fiduciaries Need to Know

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On September 6, 2024, the U.S. Department of Labor (DOL) issued Compliance Assistance Release No. 2024-01, titled “Cybersecurity Guidance Update.” The updated guidance clarifies that the DOL cybersecurity guidance applies to...more

Foster Swift Collins & Smith

DOL Echoes Employee Benefits and Cybersecurity Best Practices

On April 14, 2021, the U.S. Department of Labor’s (“DOL”) Employee Benefits Security Administration (“EBSA”) issued its first cybersecurity best practices guidance for retirement plans. The EBSA guidance was highly...more

Epstein Becker & Green

#WorkforceWednesday®: New DOL Guidance - ERISA Plan Cybersecurity Update - Employment Law This Week®

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This week, we’re interpreting the U.S. Department of Labor’s (DOL’s) recently updated cybersecurity guidance for all employee benefit plans covered under the Employee Retirement Income Security Act (ERISA): The DOL recently...more

Woodruff Sawyer

Dependent Eligibility Audit Best Practices

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As health care costs continue to rise, many employers are looking for ways they can help contain or eliminate unnecessary health plan costs without impacting the benefits coverage itself. Toward that end, some employers may...more

Williams Mullen

[Hybrid Event] 2024 Benefits Forum: Celebrating 50 Years of ERISA - September 12th, Richmond, VA

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Join us as we commemorate ERISA’s 50th anniversary and review the past, present and future of this pivotal legislation. This hybrid event offers two options for attendance: in-person or webinar. Both options will have an...more

Fisher Phillips

New ERISA Class Actions Zero in on Group Health Plan Fiduciary Obligations: 10 Best Practices for Employers

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ERISA class action lawsuits against retirement plan fiduciaries have become commonplace over the last few decades, usually alleging that imprudent processes and lack of oversight led to excessive fees for investment options,...more

Holland & Knight LLP

Plaintiffs Request Court Approval of $8.7M Settlement in ERISA Class Action Cyberattack Lawsuit

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Multi-employer plan participants involved in an Employee Retirement Income Security Act of 1974 (ERISA) class action lawsuit against Horizon Actuarial Services LLC (Horizon), a national retirement services firm, have entered...more

McDermott Will & Emery

[Webinar] Gender-Affirming Benefits: Best Practices for Group Health Plans - February 29th, 1:00 pm - 1:30 pm EST

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Employers and plan sponsors are facing growing – and often conflicting – pressures related to the coverage of gender-affirming care. Join McDermott lawyers Sarah G. Raaii and Alden J. Bianchi for a webinar to review recent...more

Bricker Graydon LLP

Forfeitures Account - The Next New Topic of ERISA Litigation Trends & Should You Be Concerned?

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A handful of new ERISA litigation cases (including McManus v. Clorox Co., N.D Cal. No. 4:23-cv-05325) are taking aim at forfeiture accounts and trying to pull them into the never-ending list of ways in which retirement plan...more

Bricker Graydon LLP

Investment Committee Best Practices - If a Prudent Decision Was Made and No One Documented it, Did it Happen?

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If you are serving as a fiduciary for your employer’s retirement plan, you have a duty under the Employee Retirement Income Security Act (ERISA) to act prudently. Engaging in prudent behavior is only the first step a plan...more

FordHarrison

[Webinar] Lessons Learned from the Trenches of ERISA Litigation - June 21st, 1:00 pm - 2:00 pm EDT

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Join FordHarrison attorneys Tiffany Downs and Matt Grabell as they discuss best practices from ERISA Litigation and other strategies for staying out of hot water. Tiffany and Matt will discuss recent lawsuits regarding...more

Foley & Lardner LLP

401(k) Compliance Check #4: Required Participant Notices

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In last month’s 401(k) Compliance Check, we discussed what to do if you inadvertently failed to enroll someone in your 401(k) plan. In this month’s Compliance Check, we focus on the variety of typical notices that are...more

Troutman Pepper Locke

DOL Guidance on Cybersecurity: A Cautionary Note for Plan Sponsors

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Have you asked yourself recently: “Are my ERISA plan’s assets and participant data protected from cyberattacks?” If not, you should. The Department of Labor’s (DOL) release of cybersecurity best practices for plans covered by...more

Jenner & Block

The “Defensive” 401(k) Plan

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No good deed goes unpunished. Those of us working with 401(k) plans are familiar with this sentiment. An employee benefit plan, as the name implies, is supposed to benefit employees. Yet benefit plans – particularly 401(k)...more

Groom Law Group, Chartered

Cybersecurity Requests Appear in DOL Audits

Plan sponsors, fiduciaries, and service providers are being asked by DOL investigators how their ERISA governed plans address cybersecurity concerns with increasing frequency. These requests may take the form of production...more

ArentFox Schiff

Don’t Be Insecure: DOL Guidance Addresses Cybersecurity for ERISA Plans

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The Department of Labor (DOL) recently issued new guidance on best practices for maintaining cybersecurity in connection with ERISA plans (the Guidance). The Guidance, which is intended for sponsors, fiduciaries, record...more

Bass, Berry & Sims PLC

DOL Begins Audit of Retirement Plans for Cybersecurity Shortfalls

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To increase protections for the estimated $9.3 trillion in American retirement assets, the Department of Labor (DOL) has begun a new cybersecurity audit initiative for retirement plans. After providing its first set of...more

Holland & Knight LLP

DOL Releases Cybersecurity Best Practices Guidance for Protecting Retirement Benefits

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For the first time, the U.S. Department of Labor's (DOL) Employee Benefits Security Administration (EBSA) has released cybersecurity guidance aimed at protecting workers' retirement benefits. The guidance, which was released...more

Williams Mullen

PODCAST: Williams Mullen's Benefits Companion - Best Practices for Reducing ERISA Litigation Risk

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On this episode of Williams Mullen's Benefits Companion, host Brydon DeWitt is joined by one of Williams Mullen’s newest attorneys, litigator Zan Gormley, who walks us through best practices to help prevent ERISA lawsuits and...more

Bond Schoeneck & King PLLC

DOL Issues New Cybersecurity Guidance for Plan Sponsors, Plan Fiduciaries, Record-Keepers and Plan Participants

On April 14. 2021, the U.S. Department of Labor (DOL) issued much needed guidance concerning best practices for plan sponsors, fiduciaries, record-keepers, participants and beneficiaries pertaining to cybersecurity for...more

Ogletree, Deakins, Nash, Smoak & Stewart,...

ERISA Cybersecurity Lessons for Employers

Retirement plans are increasingly subject to cybersecurity issues, and the U.S. Department of Labor (DOL) is taking notice. On April 14, 2021, the DOL published cybersecurity guidance “for plan sponsors, plan fiduciaries,...more

Akin Gump Strauss Hauer & Feld LLP

Department of Labor’s Cybersecurity Guidance for Benefit Plans Signals Increased Scrutiny

On April 14, 2021, the Department of Labor (DOL) issued its first set of guidance documents related to the cybersecurity of retirement benefit plans covered by the Employee Retirement Income Security Act (ERISA). The...more

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