PODCAST: Williams Mullen's Benefits Companion - Can Employers Impose a Health Insurance Surcharge on Plan Participants Not Vaccinated for COVID-19?
Two recent class action lawsuits charging a breach of fiduciary duty under the Employee Retirement Income Security Act (ERISA) have increased the stakes and raised important considerations regarding a plan fiduciary’s duty of...more
The Employee Retirement Income Security Act (ERISA) prohibits employers who offer health and welfare benefit plans from discriminating against plan participants on the basis of a health status-related factor, such as a...more
In response to the continued proliferation of lawsuits against retirement plan fiduciaries, fiduciary liability insurers are raising rates, limiting coverage, and expanding their due diligence of fiduciary processes...more
Given the current market volatility, the U.S. Department of Labor’s (DOL) concerns related to the addition of cryptocurrencies in qualified retirement plans seems prescient. In Compliance Assistance Release No. 2022-01, the...more
Late last month, Fidelity Investments created a minor firestorm when it announced that it would allow retirement plan sponsors to offer bitcoin as an investment option for participants. In reaction to this move, the...more
On March 10, 2022, the U.S. Department of Labor (“DOL”) issued a Compliance Assistance Release (the “Release”) addressing its views on the availability of cryptocurrencies on 401(k) investment platforms. This guidance comes...more
On March 10, 2022, the U.S. Department of Labor (DOL) issued Compliance Assistance Release No. 2022-01 (the “Release”, available here) which cautions ERISA plan fiduciaries to exercise “extreme care” before they consider...more
New cybersecurity developments and observations, including those relating to U.S. Department of Labor's (DOL) review of cybersecurity issues, warrant prompt consideration by plan sponsors and other fiduciaries of employee...more
Welcome to Goodwin’s ERISA Litigation Update. Litigation involving ERISA-governed benefits plans has exploded in recent years. Lawyers in our award-winning ERISA Litigation practice have extensive experience litigating these...more
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
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
Last week, we posted on the guidance issued by the US Department of Labor (DOL) for plan sponsors, plan fiduciaries, recordkeepers, and plan participants on cybersecurity best practices. Last week’s post focused on the...more
The Department of Labor (DOL) has just issued first-time retirement plan guidance to address cybersecurity risks for employers, plan fiduciaries, recordkeepers and plan participants. The guidance is in the form of...more
On April 14, 2021, the Department of Labor (“DOL”) issued three documents that provide cybersecurity guidance for plan sponsors, fiduciaries, recordkeepers, and plan participants. Cybersecurity has become an increasingly...more
The clouds have been forming on the horizon for years now: from the courts we have seen emerging lines of ERISA litigation asserting fiduciary obligations to protect the privacy rights of participants, and from the regulatory...more
On April 14, 2021, the U.S. Department of Labor’s (DOL’s) Employee Benefits Security Administration (EBSA) finally issued first-ever guidance for plan sponsors, plan fiduciaries, record keepers and plan participants on best...more
A lot of talk in political circles surround politicians using fighting words. I’m not a politician and I don’t like to use my space for that....more