News & Analysis as of

Department of Labor (DOL) Beneficiaries Employee Retirement Income Security Act (ERISA)

Alston & Bird

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

Alston & Bird on

In this article, the authors delve into the Department of Labor’s temporary ERISA enforcement policy for unclaimed retirement benefit payments of $1,000 or less. The Department of Labor (DOL) has announced a temporary...more

Keating Muething & Klekamp PLL

Benefits Monthly Minute - February 2025

The February Monthly Minute highlights a new online ACA reporting alternative, the DOL’s temporary policy regarding escheatment of small retirement benefits owed to missing participants, and new guidance clarifying the gag...more

Keating Muething & Klekamp PLL

Benefits Monthly Minute - January 2025

The January Monthly Minute highlights a recent Texas court decision holding ESG investing violated ERISA and a new development in the J&J prescription drug case that found plaintiff lacked standing to sue, and also digs into...more

Snell & Wilmer

2024 End-of-Year Plan Sponsor “To Do” List (Part 1) Health and Welfare

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We are pleased to present our annual End of Year Plan Sponsor “To Do” Lists. This year, we present our “To Do” Lists in four separate SW Benefits Updates. This Part 1 covers year-end health and welfare plan issues. Parts 2,...more

Proskauer - Employee Benefits & Executive...

Benefit Plan Deadlines Extended for Individuals Affected by Recent Natural Disasters

Last week, the U.S. Departments of Labor and Treasury issued a Joint Notice requiring the extension of certain benefit plan deadlines for individuals affected by Hurricanes Helene and Milton and Tropical Storm Helene.[1] The...more

The Wagner Law Group

Pension Risk Transfers and the Continuing Concern About Buying a Pig in a Poke

The Wagner Law Group on

Pension risk transfers (“PRTs”) continue to make the news. And well they should. Last year alone, over $100 billion in liabilities were transferred from defined benefit pension plans to insurance companies. And the trend...more

Seward & Kissel LLP

DOL Proposes to Expand the Definition of an ERISA Fiduciary

Seward & Kissel LLP on

On November 3, 2023, the U.S. Department of Labor (DOL) proposed a collection of regulatory changes in its ongoing quest to update the definition of a “fiduciary” under ERISA and Section 4975 of the Internal Revenue Code (the...more

Seward & Kissel LLP

Action Steps for Managers of Private Investment Funds Subject to ERISA Prior to December 1, 2023 to Address the DOL’s Rule...

Seward & Kissel LLP on

If you manage a private investment fund that is subject to Title I of ERISA and is not a feeder fund (an “ERISA Fund”), you should, before December 1, 2023, take the steps described below in order to comply with the DOL’s...more

Verrill

Department of Labor Guidance and Federal Initiatives Counsel a Wait-and-See Approach for 401(k) Plan Fiduciaries Interested in...

Verrill on

On March 10, 2022, the Department of Labor published Compliance Assistance Release 2022-01, 401(k) Plan Investments in “Cryptocurrencies”. The Release strongly discourages the addition of cryptocurrency (and other digital...more

Bass, Berry & Sims PLC

DOL Begins Audit of Retirement Plans for Cybersecurity Shortfalls

Bass, Berry & Sims PLC on

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

K&L Gates LLP

DOL Creates New E-Delivery Safe Harbor for Retirement Plan Disclosures

K&L Gates LLP on

EXECUTIVE SUMMARY - The Department of Labor (DOL) published final regulations that make significant strides in reducing barriers to the electronic delivery of a wide array of retirement plan disclosures. Specifically, the...more

Akerman LLP - HR Defense

Don’t Get Bitten—COBRA and Costly Consequences of Non-Compliant Notices

COBRA: an acronym that strikes fear (and understandable confusion) into the hearts of many employers. If you have 20 or more employees, you are subject to the often equivocal requirements of the Consolidated Omnibus Budget...more

Faegre Drinker Biddle & Reath LLP

New DOL Electronic Disclosure Rules – What You Need to Know

The Department of Labor (DOL) issued final electronic disclosure rules for retirement plans on May 27, 2020 (2020 Safe Harbor). We are already fielding questions about these new rules and have provided answers here to some of...more

Epstein Becker & Green

DOL Gives Extra Time to Plan Participants and Beneficiaries: Benefits Guidance in the Time of COVID-19

Epstein Becker & Green on

Plan participants and their beneficiaries may now have extra time to exercise some of their rights under the employee benefit plans in which they participate. ...more

Eversheds Sutherland (US) LLP

Congress delivers SECURE and more in year-end benefits bonanza

On December 20, 2019, President Trump signed into law the Further Consolidated Appropriations Act, 2020 (the “Appropriations Act”), a comprehensive government funding bill that includes substantial employee benefits-related...more

Snell & Wilmer

Potential $2.4 Billion and Countless Trees Saved – Department of Labor’s Proposed Rule on Electronic Disclosure for Retirement...

Snell & Wilmer on

The Department of Labor recently issued a proposed rule that allows certain retirement plan disclosures to be posted online, rather than requiring such disclosures to be printed and mailed. The Department of Labor anticipates...more

Proskauer - Employee Benefits & Executive...

Best Practices in Administering Benefit Claims #6 – Distinguishing an Inquiry from a Claim

It’s Week #6, and we have turned the corner in our Top 10 Best Practices in Administering Benefit Claims. In case you missed any (or all) of the first five best practices, links to each of them appear below. This week we...more

Verrill

DOL Proposes New Electronic Disclosure Rules for Retirement Plans

Verrill on

At long last, the Department of Labor (DOL) has issued an update to its safe harbor rules governing electronic distributions of retirement plan disclosures. When finalized and adopted, the new safe harbor rules will update...more

Bass, Berry & Sims PLC

DOL Proposed Rule on Electronic Disclosures Could Help Alleviate Costs and Burdens on Employers and ERISA Plan Administrators

Bass, Berry & Sims PLC on

On October 23, 2019, the Department of Labor (DOL) published a proposed rule that, if finalized in its current form, would make it easier for retirement plan administrators to use electronic media to furnish information to...more

Snell & Wilmer

Authorized Representatives – Fresh Look at an Old Rule

Snell & Wilmer on

Earlier this year, the Department of Labor issued an information letter explaining ERISA’s authorized representative requirement. Below are some of the takeaways employers may want to consider....more

Proskauer - Employee Benefits & Executive...

Eighth Circuit Decision On“Cross-Plan Offsetting” Illustrates Importance Of Careful Plan Drafting

The U.S. Court of Appeals for the Eighth Circuit recently weighed in on a practice for recovering health plan overpayments known as “cross-plan offsetting.” In addition to shining a light on the controversial (but potentially...more

White and Williams LLP

Cross-Plan Offsetting to Recoup Overpayments to “Out-Of-Network” Providers Held Unreasonable

White and Williams LLP on

In an opinion filed on January 15, 2019, the Eighth Circuit Court of Appeals upheld the district court’s ruling that UnitedHealth Group’s practice of recovering overpayments made to “out-of-network” providers from one plan by...more

Proskauer Rose LLP

ERISA Newsletter - Second Quarter 2018

Proskauer Rose LLP on

As we head into the thick of summer, all eyes are on President Trump's nomination to the U.S. Supreme Court to replace retiring Justice Anthony Kennedy and the impact the new Justice will have on shaping the law for...more

Stinson - Benefits Notes Blog

Send Out the Search Party: The DOL and Other Agencies Focus on Plan Efforts to Locate Missing Participants (Part 1)

In the past year, the Department of Labor (DOL) has drastically increased audits of retirement plans with participants – or beneficiaries – who cannot be located in conjunction with the distribution of owed benefits. ...more

Kilpatrick

IRS Issues Memo on Missing Participant Search Standards

Kilpatrick on

On October 19th, the IRS released a memorandum titled “Missing Participants and Beneficiaries and Required Minimum Distributions” (the “Memo”) to its plan auditors that provides guidelines for when a plan’s efforts to locate...more

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