The U S District Court for the District of Utah has ruled, in L.D. v. United HealthCare, that a group health plan does not violate the Mental Health Parity and Addiction Equity Act (“MHPAEA”) if it...
ERISA & Employee Benefits
Supreme Court Asked to Weigh in on Arbitration, Again
Supreme Court Asked to Weigh in on Arbitration, Again - Jordan Mamorsky, Pensions & Investments, September 18, 2023 (PDF)
New Republican Discrimination Bill Adds Little to Current Law: Lawyers
New Republican Discrimination Bill Adds Little to Current Law: Lawyers - Mark Greenstein, FUNDfire, September 18, 2023 (PDF)
Latest ERISA Standard Ruling Could Lead To More Dismissals By Kellie Mejdrich
Latest ERISA Standard Ruling Could Lead To More Dismissals - Andrew Oringer, Law360, September 15, 2023 (PDF)
COBRA Notice Need Not Be Single Notification
In deciding Bryant v. Walgreen Co., the U.S. District Court for the Northern District of Illinois addressed several important aspects of the COBRA notification requirements. Law. Employers must...
Department of Labor Recovers $22.5 million for ESOP
Department of Labor Recovers $22.5 million for ESOP - Andrew Oringer, PLANSPONSOR, September 13, 2023 (PDF)
DOL Braces For Hostile Reception To Fiduciary Rule Rewrite
DOL Braces For Hostile Reception To Fiduciary Rule Rewrite - Andrew Oringer, Law360, September 12, 2023 (PDF)
Highlights of 2023 PBGC Meeting With ABA’s Joint Committee on Employee Benefits
By Harold Ashner and Israel Goldowitz On September 11, 2023, the American Bar Association (“ABA”) posted a summary of the May 3, 2023, meeting between representatives of the Pension Benefit Guaranty...
New Fiduciary Rule Sent to OMB By Department of Labor
New Fiduciary Rule Sent to OMB By Department of Labor - Thomas Clark, Jr., NAPA, September 9, 2023 (PDF)
Why Some Ex-Workers at Bed Bath & Beyond Face 401(k) Losses
Why Some Ex-Workers at Bed Bath & Beyond Face 401(k) Losses - Israel Golodowitz, New York Times, September 9, 2023 (PDF)
Claims Denial Overturned for Failure to Follow Claims Procedures
The U.S. Court of Appeals for the Tenth Circuit, in David P. v. United Healthcare Ins. Co., has reversed a group health plan’s benefits claim denial because the plan’s claims administrator failed to...
Law Firm Letter Backs DOL Rule on ERISA Fiduciaries Using Climate Factors
Law Firm Letter Backs DOL Rule on ERISA Fiduciaries Using Climate Factors - chief investment officer, September 1, 2023 (PDF)
Wagner Law Group: Climate Funds, ERISA May Co-Exist, With Prudence
Wagner Law Group: Climate Funds, ERISA May Co-Exist, With Prudence - PLANSPONSOR, August 31, 2023 (PDF)
SECURE 2.0 Roth Catch-Up Delay: More IRS Guidance to Come
SECURE 2.0 Roth Catch-Up Delay: More IRS Guidance to Come - The Wagner Law Group Law Alert, 401(k) Specialist, August, 31, 2023 (PDF)
IRS Delays Roth Catch-up Contribution Change to Defined Contribution Plans
By John Schultze and Barry Salkin One of the changes made by the SECURE 2.0 Act requires that catch-up contributions made by employees with FICA compensation from an employer sponsoring a 401(k),...
HHS Issues Warning About Online Tracking
The Office of Civil Rights (“OCR”) at the U.S. Department of Health and Human Services (“HHS”) and the Federal Trade Commission (“FTC”) have issued a letter, dated July 20, 2023 (the “Letter”),...
Legal Opinion Letter Released by Business Climate Finance Affirms Companies’ Ability to Consider ESG Factors in Employer-Sponsored Retirement Plan Selection Process
Legal Opinion Letter Released by Business Climate Finance Affirms Companies' Ability to Consider ESG Factors in Employer-Sponsored Retirement Plan Selection Process - businesswire, August 29, 2023...
9th Circ. Reopens Door To Reprocessing In UBH Battle
9th Circ. Reopens Door To Reprocessing In UBH Battle - Andrew Oringer, Law360, August 25, 2023, (PDF)
IRS Releases ACA Affordability Rates for 2024
The Internal Revenue Service has issued Revenue Procedure 2023-29 to implement the 2024 index adjustments for certain Affordable Care Act (“ACA”) contribution percentages used to determine...
Former Director Sues Howard University Pension Plan
Former Director Sues Howard University Pension Plan - Andrew Oringer, PLANSPONSOR, August 21, 2023 (PDF)
10th Circ.’s Okla. PBM Ruling Could Curtail State Regulation
10th Circ.'s Okla. PBM Ruling Could Curtail State Regulation - Andrew Oringer, Law360, August 18, 2023 (PDF)
IRS Issues Guidance on Taxation of Restricted Stock Units to Employees Working in United States and Abroad
By Barry Salkin In a global economy, it will frequently be the case that employees of multinational organizations will be employed in both the United States and abroad. In Chief Counsel Advice...
11 Attorneys from The Wagner Law Group to be Recognized in 2024 Edition of The Best Lawyers in America©
Boston, MA, August 17, 2023 – The Wagner Law Group, widely recognized as the country’s top ERISA and employee benefits law firm, is delighted to announce that 11 of its attorneys will be recognized...
DOL Revises Medicaid/CHIP Model Notice
The Department of Labor (“DOL”) has released a revised Model Notice for employers to use to inform employees about the potential for them to receive state-provided premium assistance subsidies to...
9th Circ. ERISA Fee Ruling May Spur High Court Intervention
9th Circ. ERISA Fee Ruling May Spur High Court Intervention - Andrew Oringer, Law360, August 9, 2023 (PDF)
Failure to Follow Claims Regulations Results in De Novo Review
The U.S. District Court for the Southern District of New York, in Rhodes v. First Reliance, has ruled that an insurer’s denial of a long-term disability (“LTD”) claim must be reviewed under the de...
Departments Consider Potential Safe Harbor for Nonquantitative Treatment Limitations under the Mental Health Parity and Addiction Equity Act Regarding Network Adequacy
By Dannae Delano, Roberta Casper Watson and Barry Salkin On July 25, the Departments of Treasury, Labor, and Health and Human Services (the “Departments”) issued proposed regulations and other...
3 Takeaways From The PBGC’s Latest Fiscal Health Checkup
3 Takeaways From The PBGC's Latest Fiscal Health Checkup - Israel Goldowitz, Law360, August 4, 2023 (PDF)
Agencies Issue Proposed Regulations on Mental Health Parity Implementation
HHS, DOL and IRS (collectively, the “Agencies”) have jointly issued proposed regulations to provide guidance on the implementation of the requirements of the Mental Health Parity and Addiction...
UnitedHealth Group Insurance TPA, UMR Sued by DOL
UnitedHealth Group Insurance TPA, UMR Sued by DOL - Andrew Oringer, PLANSPONSOR, August 2, 2023 (PDF)
CMS Recommends Extension of Special Enrollment for Individuals Losing Medicaid and CHIP
By Roberta Watson, Dannae Delano and Barry Salkin Employers frequently provide group health plan coverage for their employees through pre-tax contributions to a cafeteria plan. Elections under a...
Departments Issue Guidance on No Surprises Act and Limitations on Cost Sharing Under the Affordable Care Act
By Dannae Delano, Roberta Watson and Barry Salkin In FAQ Part 60, the Departments of Health and Human Service, Treasury, and Labor (the “Departments”) addressed limitations on cost sharing under the...
Pension benefits at Yellow Corp. secured by Teamsters fund bailout this year
Pension Benefits at Yellow Corp. Secured by Teamsters Fund Bailout This Year - Michael Schloss, Pensions & Investments, August 1, 2023 (PDF)
Fidelity Investments is Suddenly Fending off a Fresh Wave of AI Suitors for its Vast Recordkeeping Data Trove
Fidelity Investments is Suddenly Fending off a Fresh Wave of AI Suitors for its Vast Recordkeeping Data Trove - Ari Sonneberg, RIABiz, July 28, 2023 (PDF)
Plan Penalized for Failure to Follow Its Own Provisions
In Laake v. Benefits Committee, Western & Southern Financial Group Co., the U.S. Court of Appeals for the Sixth Circuit determined that the de novo standard of review applies where an employer’s...
IRS Issues Transitional Guidance for Required Minimum Distributions
By Jon Schultze and Barry Salkin In response to changes made by the SECURE 2.0 Act of 2022 (SECURE 2.0) to the required minimum distribution (“RMD”) rules of the Internal Revenue Code (the “Code”),...
DOL Advises Plan Sponsors to Extend Enrollment Period for Employees Losing Medicaid
DOL Advises Plan Sponsors to Extend Enrollment Period for Employees Losing Medicaid - Roberta Casper Watson, PLANSPONSOR, July 24, 2023 (PDF)
ERISA Arbitrability Battles May Require High Court Guidance
ERISA Arbitrability Battles May Require High Court Guidance - Andrew Oringer, Law360, July 21, 2022 (PDF)
Departments Propose Regulations on Short-Term Limited Duration Insurance and Indemnity Insurance Excepted Benefits
By Dannae Delano, Roberta Casper Watson and Barry Salkin On July 7, the Departments of Health and Human Services, Labor, and Treasury (the “Departments”) issued proposed regulations modifying the...
Significant Changes Made to IRS Employee Plans Compliance Resolution System
By Dannae Delano, Seth Gaudreau and Barry Salkin The SECURE 2.0 Act of 2022, Division T of Public Law No. 117-328 (“the Act”) includes dozens of provisions that affect retirement plans and...
Reservists Must Receive Paid Administrative Leave Benefits
In Myrick v City of Hoover, the U.S. Court of Appeals for the 11th Circuit has ruled that military reservists must be treated as if they were on paid leave for purposes of the Uniformed Services...
ERISA Fiduciary Institute 2023
ERISA Fiduciary Institute 2023 - Andrew Oringer and Susan Rees, panelists, American Bar Association Joint Committee on Employee Benefits (JCEB) seminar, Washington, D.C., September 12, 2023 - Click...
Twitter Hit With $500M Suit for Unpaid Severance
Twitter Hit With $500M Suit for Unpaid Severance - Andrew Oringer, planadviser, July 12, 2023 (PDF)
Plan May Exclude Certain Specified Emergency Services
The U.S. Court of Appeals for the Eighth Circuit has ruled, in Shafer v. Zimmerman Transfer, that a group health plan does not have to pay for emergency services specifically excluded by the plan...
Verizon 401(k) lawsuit settles for $30 million
Verizon 401(k) lawsuit settles for $30 million - Stephen Rosenberg, InvestmentNews, July 11, 2023 (PDF)
ERISA Allows Plan Fiduciaries to Pursue More Than Just Money
ERISA Allows Plan Fiduciaries to Pursue More Than Just Money - Michael Schloss, Bloomberg Tax, July 10, 2023 (PDF)
FAQ Clarifies Status of In-Network Providers, Facility Fees
FAQ Clarifies Status of In-Network Providers, Facility Fees - Roberta Casper Watson, PLANSPONSOR, July 10, 2023 (PDF)
EBSA Publishes Regulatory Update on Health Facility Fees, Provider Networks
EBSA Publishes Regulatory Update on Health Facility Fees, Provider Networks - Roberta Casper Watson, planadviser, July 7, 2023 (PDF)
IRS Issues HDHP Guidance for End of COVID Emergency Period
In response to the ending of the COVID-19 public health emergency and national emergency, the IRS has issued Notice 2023-37, which modifies its prior guidance on benefits relating to the testing and...
3 DOL Moves Benefits Attorneys Will Be Watching For
3 DOL Moves Benefits Attorneys Will Be Watching For - Andrew Oringer, Law360, July 3, 2023 (PDF)
SEC’s Recent Marketing Rule Risk Alert Identifies Additional Areas of Focus During Compliance Examinations
By Seth Gaudreau and Stephen Wilkes On June 8, 2023, the Securities and Exchange Commission’s (“SEC”) Division of Examinations (the “Division”) published a risk alert (the “Risk Alert” - found here)...
Financial Aspects of Divorce in Massachusetts: Division of Retirement Assets in Divorce
Financial Aspects of Divorce in Massachusetts: Division of Retirement Assets in Divorce - Marcia Wagner and Ari Sonneberg, MCLE New England, 2nd Edition, 2023
Jury Delivers Win to Yale With 403(b) Lawsuit Verdict
Jury Delivers Win to Yale With 403(b) Lawsuit Verdict - Andrew Oringer, PLANSPONSOR, June 29, 2023 (PDF)
IRS Releases Guidance Denying Favorable Tax Treatment to Certain Wellness Program Incentive Payments
IRS has released guidance, in the form of Chief Counsel Memorandum Number: 202323006 (the “Memorandum”), denying favorable tax treatment to wellness incentive program payments provided through...
DOL Sues Missouri Bankers Benefit Plan
DOL Sues Missouri Bankers Benefit Plan - Andrew Oringer, PLANSPONSOR, June 16, 2023 (PDF)
Could Health Care Regulation Go the Way of Retirement Plans?
Could Health Care Regulation Go the Way of Retirement Plans? - Andrew Oringer, PLANSPONSOR, June 12, 2023 (PDF)
DOL Provides Guidance About Holidays During FMLA Leave
The Department of Labor (“DOL”) has issued Opinion Letter FMLA 2023-2-A (the “Letter”) to clarify how the amount of leave used is calculated when an employee takes Family and Medical Leave Act...
The Wagner Law Group Grows its Washington D.C. Office with Veteran DOL Attorney Michael Schloss
The Wagner Law Group Grows its Washington D.C. Office with Veteran DOL Attorney Michael Schloss - June 7, 2023
New England 401(k) Fee Suits Forge Employers’ Longshot Bid
New England 401(k) Fee Suits Forge Employers’ Longshot Bid - Marcia Wagner, Bloomberg Law, June 6, 2023 (PDF)
Massachusetts Division of Insurance Provides Special Enrollment Period for Loss of COBRA Coverage
By Dannae Delano, Barry Salkin and Roberta Casper Watson As we have previously described in client alerts, the end of the National Emergency and the cessation of the outbreak period on July 10,...
Churchill Holdings ESOP Participants Sue
Churchill Holdings ESOP Participants Sue - Andrew Oringer, PLANSPONSOR, June 2, 2023 (PDF)
Coverage Requirements for COVID-related Services Post-Public Health Emergency
The COVID-19 national emergency (“NE”) and public health emergency (“PHE”) officially ended on April 10 and May 11, 2023, respectively. The end of the emergencies provides group health plan sponsors...
Pension Row With Teamsters Belongs In Court, 1st Circ. Told
Pension Row With Teamsters Belongs In Court, 1st Circ. Told - Stephen Rosenberg, Law360, May 26, 2023 (PDF)
Pension Risk Transfers Continue to Skyrocket in Q1
Pension Risk Transfers Continue to Skyrocket in Q1 - Marcia Wagner, PLANSPONSOR, May 25, 2023 (PDF)
IRS Issues Advice on Nonfungible Tokens (NFTs) in IRS and Tax Qualified Individual Account Plans
IRS Issues Advice on Nonfungible Tokens (NFTs) in IRS and Tax Qualified Individual Account Plans - Marcia Wagner, 401(k) Advisor, May 2023
The Who, When and Why of Independent Fiduciaries
The Who, When and Why of Independent Fiduciaries - John Sohn and Stephen Wilkes, Benefits Magazine, May/June 2023

IRS Announces 2024 HSA and HRA Limits
The IRS has announced the 2024 calendar year dollar limits for health savings account (“HSA”) contributions, the minimum deductible amounts and maximum out-of-pocket expenses for high deductible...
SEC Issues New Guidance For Investment Advice Obligations
By Stephen Wilkes and Seth Gaudreau On April 26, 2023, the U.S. Securities and Exchange Commission (“SEC”) published a Staff Bulletin (the “Bulletin”) reiterating the care obligation standards of...
DOL, Trade Groups Clash Over ERISA Prohibited Transactions
DOL,Trade Groups Clash Over ERISA Prohibited Transactions - Andrew Oringer, Pensions & Investments, May 22, 2023 (PDF)
Employers Discuss Why They Use Vendor Search Consultants
Employers Discuss Why They Use Vendor Search Consultants - Andrew Oringer, PLANSPONSOR, May 19, 2023 (PDF)
Employer Can Select Individuals Who Receive Severance Benefits
The U.S. Court of Appeals for the Seventh Circuit has ruled, in Carlson v. Northrop Grumman Severance Plan, that an employer can use its discretion to individually select which terminated employees...
The DOL Accepts a FAQ-Out and Rolls Over . . . for Now – Appeal of ASA v. DOL Is Abandoned
By Andrew Oringer It was reported yesterday, on May 15, 2023, that the U.S. Department of Labor (the “DOL”) has abandoned its appeal in American Securities Association [“ASA”] v. U.S. Department of...
Claims Appeals Procedures Must be in Formal Plan Documents
In Yates v. Symetra Life Insurance, the U.S. Court of Appeals for the Eighth Circuit has ruled that a life insurance beneficiary need not exhaust a plan’s claims appeals procedures when the plan...
What Regulations and the Law Say About Retirement Income
What Regulations and the Law Say About Retirement Income - Marcia Wagner, 2023 PLANSPONSOR National Conference, Orlando, FL, June 21 - 23, 2023 - Click here for details
Richter-Gordon, Chamberlain Launch Firm to Vet Lifetime Income Options in 401(k)s
Richter-Gordon, Chamberlain Launch Firm to Vet Lifetime Income Options in 401(k)s - The Wagner Law Group, 401(k) Specialist, May 9, 2023 (PDF)
Aon, Astellas Pay to Settle CIT Conflict of Interest Litigation
Aon, Astellas Pay to Settle CIT Conflict of Interest Litigation - Andrew Oringer, PLANSPONSOR, May 9, 2023 (PDF)
IRS Chief Counsel Discusses Cafeteria Plan Substantiation Rules
The IRS Office of Chief Counsel has issued Memorandum Number 202317020 (the “Memorandum”) to explain the substantiation rules for claims made under health and dependent care FSAs by means of six...
Court Ruling Vacating DOL Rollover Guidance isn’t End of Fiduciary Saga
Court Ruling Vacating DOL Rollover Guidance isn't End of Fiduciary Saga - Andrew Oringer, Pensions & Investments, May 1, 2023 (PDF)
3 May Argument Sessions Benefits Attorneys Should Watch
3 May Argument Sessions Benefits Attorneys Should Watch - Andrew Oringer, Law360, April 28, 2023 (PDF)
ERISA Lawsuit Against NJ Transit Authority Dismissed
ERISA Lawsuit Against NJ Transit Authority Dismissed - WLG Law Alert, PLANSPONSOR, April 28, 2023 (PDF)
Government Plan Not Covered by ERISA
In Pue v. New Jersey Transit Authority, the U.S. Court of Appeals for the Third Circuit has dismissed an ERISA-based lawsuit because government plans are not covered by ERISA. Law. ERISA section...
DOL Rule Permits Consideration of Climate and ESG Factors and Codifies Proxy Voting Responsibilities [Continued]
DOL Rule Permits Consideration of Climate and ESG Factors and Codifies Proxy Voting Responsibilities [Continued] - Marcia Wagner, 401(k) Advisor, April 2023
TPA Subject to Nondiscrimination Rules
The Federal District Court for the Western District of Washington has ruled, in C.P. vs. Blue Cross Blue Shield of Illinois, that an insurer acting as a third party administrator (“TPA”) is covered...
Code Section 457(f) Conundrum: How to Handle Past Year Mistakes (from Vesting)
Code Section 457(f) Conundrum: How to Handle Past Year Mistakes (from Vesting) - Mark Poerio and Barry Salkin, LexisNexis Practical Guidance, March 31, 2023
IRS Requires Most Employee Benefit Plans to File Forms Electronically
IRS Requires Most Employee Benefit Plans to File Forms Electronically - The Wagner Law Group, LexisNexis Practical Guidance, April 2023
DOL Sues Profit-Sharing Retirement Plan of California Consultant
DOL Sues Profit-Sharing Retirement Plan of California Consultant - Andrew Oringer, PLANSPONSOR, April 17, 2023 (PDF)
HIPAA Enforcement Suspended During Pandemic to Resume With 90 Day Transition Period for Telehealth
By Dannae Delano U.S. Department of Health and Human Services’ Office for Civil Rights (OCR) issued the following four pieces of guidance announcing enforcement discretion during the COVID-19...
Secure 2.0, The Fiduciary Rule, New Developments: What You Need to Know
Secure 2.0, The Fiduciary Rule, New Developments: What You Need to Know - Marcia Wagner, Financial Executives International (FEI) Committee on Benefits Finance – March 2023 Virtual Meeting -...
Board Resolution Insufficient to Terminate Severance Pay Plan
The U.S. Court of Appeals for the Fourth Circuit has ruled, in Messer v. Bristol Compressors, that a Board of Directors resolution intended to terminate a severance pay plan was insufficient because...
Full-Time to Part-Time: Educate Employees About Ramifications for Benefits and Compensation
Full-Time to Part-Time: Educate Employees About Ramifications for Benefits and Compensation - Marcia Wagner, SHRM, April 12, 2023 (PDF)
Agencies Issue Guidance Regarding Effect of the End of the COVID-19 Public Health Emergency (PHE) and National Emergency (NE) on Benefits
By Barry Salkin, Dannae Delano and Roberta Casper Watson On January 31, 2020, the Department of Health and Human Services (HHS) declared that a nationwide public health emergency (PHE) had existed...
As Private Equity Firms Work to Access 401(k) Market, Plaintiff Lawyers Gear Up to Sue
As Private Equity Firms Work to Access 401(k) Market, Plaintiff Lawyers Gear Up to Sue - Thomas Clark, Jr., The Capitol Forum, April 10, 2023
Withdrawal Liability Interest Rate Assumptions: The Battle Continues
Withdrawal Liability Interest Rate Assumptions: The Battle Continues - Israel Goldowitz, Bloomberg Tax Management Compensation Planning Journal, April 7, 2023
Suit “Routes”: Lessons Learned from Litigation
Suit “Routes”: Lessons Learned from Litigation - Thomas Clark, Jr., Panel Moderator, NAPA 401(k) Summit, April 3 -5. 2-2023 - Click here for details
Case(s) in Point
Case(s) in Point - Thomas Clark, Jr., NAPANET the Magazine, Spring 2023 (PDF)
What to Love (& Fear) About SECURE 2.0 Now
What to Love (& Fear) About SECURE 2.0 Now - Thomas Clark, Jr., NAPANET the Magazine, Spring 2023 (PDF)
Has the Litigation Pendulum Swung Back to Plan Sponsors?: NAPA 401(k) Summit
Has the Litigation Pendulum Swung Back to Plan Sponsors?: NAPA 401(k) Summit - Thomas Clark, Jr., NAPA, April 4, 2023 (PDF)
Nestimate Debuts Software Solution for In-Plan Guaranteed Income Products
Nestimate Debuts Software Solution for In-Plan Guaranteed Income Products - Marcia Wagner and John Sohn, 401(k) Specialist, April 3, 2023 (PDF)
How Plan Sponsors Can Offer Backdoor Roth Conversions
How Plan Sponsors Can Offer Backdoor Roth Conversions - Marcia Wagner, PLANSPONSOR, April 3, 2023 (PDF)
Governance
Governance - Andrew Oringer, PLANSPONSOR Magazine, March - April 2023
The Duty of Impartiality
The Duty of Impartiality - Bary Salkin, author, Benefits Law Journal, Vol 36, No. 1, Spring 2023
IRS Issues Guidance on Nonfungible Tokens (“NFTs”) in IRAs and Tax-Qualified Individual Account Plans
By Barry Salkin and Jon Schultze Unlike ERISA, the Internal Revenue Code (“Code”) places almost no restrictions on the manner in which plan assets of individual retirement plans or tax-qualified...
IRS Requires Most Employee Benefit Plans to File Forms Electronically
The IRS has issued final regulations that will require almost all employee benefit plan filings to be made electronically. Background. Generally, Applicable Large Employers are required to file...
ERISA Attorney Marcia Wagner Comments On The President’s Veto Of Bipartisan ESG Joint Resolution
ERISA Attorney Marcia Wagner Comments On The President’s Veto Of Bipartisan ESG Joint Resolution - Marcia Wagner, Forbes, March 24, 2023 (PDF)
7th Circ. Northwestern Ruling Eases ERISA Pleading Standard
7th Circ. Northwestern Ruling Eases ERISA Pleading Standard - Amdrew Oringer, Law360, March 24, 2023 (PDF)
DOL Rule Permits Consideration of Climate and ESG Factors and Codifies Proxy Voting Responsibilities
DOL Rule Permits Consideration of Climate and ESG Factors and Codifies Proxy Voting Responsibilities - Marcia Wagner, 401(k) Advisor, March 2023
IRS Provides Guidance on the Definition of “Medical Expenses”
The IRS has issued a series of Frequently Asked Questions (“FAQs”) to provide guidance as to whether certain costs related to nutrition, wellness, and general health are medical expenses that may be...
Defined Benefits Plans: Underfunded Plans
Defined Benefits Plans: Underfunded Plans - Harold Ashner and Linda Rosenzweig, contributing authors, Bloomberg Law Guide to Retirement Plan Designs. March 2023
Fiduciary Litigation Debate
Fiduciary Litigation Debate - Thomas Clark, Jr., DC Pension Geeks Podcast, March 20, 2023 - Click here for recording
Avoiding Nonqualified Plan Traps: Key Considerations for ERISA Counsel and Employers
Avoiding Nonqualified Plan Traps: Key Considerations for ERISA Counsel and Employers - Mark Poerio, Strafford Live CLE webinar, March 23, 2023, 1:00 - 2:30 PM (EDT) - Click here for details
The Wagner Law Group Ranked Among the Largest Women-Owned Businesses in Massachusetts
The Wagner Law Group Ranked Among the Largest Women-Owned Businesses in Massachusetts - March 15, 2023
After the Victory Lap: The To-Do List for Plan Sponsors on the Passing of SECURE 2.0
After the Victory Lap: The To-Do List for Plan Sponsors on the Passing of SECURE 2.0 - Lee Polk, panelist, Institutional Investor Defined Contribution Forum, Chicago, IL, April 18 - 19, 2023 - Click...
LinkedIn Settles 401(k) Excessive Fee Complaint for $6.75 Million
LinkedIn Settles 401(k) Excessive Fee Complaint for $6.75 Million - Andrew Oringer, PLANSPONSPR, March 15, 2023 (PDF)
IRS Issues Proposed Regulations Regarding Use of Forfeitures in Tax-Qualified Plans
By Jon Schultze and Barry Salkin Some of the IRS regulations dealing with tax-qualified plans predate ERISA and subsequent federal tax legislation, and have become outdated. However, sometimes it...
Notes from ALM’s Complex Claims & Litigation Forum 2023
Notes from ALM's Complex Claims & Litigation Forum 2023 - Stephen Rosenberg, ALM Property Casualty 360, March 14, 2023 (PDF)
SECURE Act 2.0 Modification to Controlled Group and Affiliated Service Group Requirements
By Jon Schultze and Barry Salkin One of the less-discussed provisions of the recently enacted SECURE Act 2.0 makes two changes to the “family attribution” rules under Section 414 of the Internal...
Departments Issue Guidance Requiring First Annual “Gag” Attestation by December 31, 2023
By Dannae Delano, Roberta Casper Watson and Barry Salkin The Consolidated Appropriations Act of 2021 (“CAA”) is the most significant compliance challenge for employer health plan sponsors since the...
DOL Distinguishes Between FMLA and ADA Rights With Regards to Required Overtime
The Department of Labor (“DOL”) has issued Opinion Letter FMLA 2023-1-A with regards to employees who have health conditions that prevent them from working more than 40-hours per week. DOL was asked...
Retirement Industry People Moves
Retirement Industry People Moves - Lee Polk, PLANADVISER, March 3, 2023 (PDF)
Battle Over ESG Means Balancing Act For Benefits Plans
Battle Over ESG Means Balancing Act For Benefits Plans - Andrew Oringer, Law360, March 3, 2023 (PDF)
Court Ruling Vacating DOL Rollover Guidance Isn’t End Of Fiduciary Saga
Court Ruling Vacating DOL Rollover Guidance Isn't End Of Fiduciary Saga - Andrew Oringer, Pensions & Investments, March 1, 2023 (PDF)
FMLA Rights For Employees Who Telework
The Department of Labor (“DOL”), in Field Assistance Bulletin No. 2023-1 (“FAB”), has explained how to apply the eligibility rules under the Family and Medical Leave Act (FMLA) when employees...
The Wagner Law Group Grows its Chicago Office With the Addition of Attorney Lee T. Polk
The Wagner Law Group Grows its Chicago Office With the Addition of Attorney Lee T. Polk - March 1, 2023
Tackling Market Disruptors – How to Manage Industry Shifts
Tackling Market Disruptors – How to Manage Industry Shifts - Panelist, ALM Complex Claims and Litigation Forum, Las Vegas, NV, February 27 - March 1, 2023 - Click here for details
The Largest Women-Owned Businesses in Massachusetts
The Largest Women-Owned Businesses in Massachusetts - Boston Business Journal, February 24, 2023
Jury Must Determine “Comparability” Under USERRA
The U.S. Court of Appeals for the Ninth Circuit, in Clarkson v. Alaska Airlines, has determined that a jury must decide whether an employer offered “comparable,” non-military, paid leave, and was...
Rudy Adolf Dodges Questions on Focus Financial Earnings Call
Rudy Adolf Dodges Questions on Focus Financial Earnings Call - Ari Sonneberg, RIABiz, February 21, 2023 (PDF)
Church-Exemption Ruling Could Have Wide Implications
Church-Exemption Ruling Could Have Wide Implications - Andrew Oringer, PLANSPONSOR, February 22, 2023 (PDF)
Cybersecurity Issues – 2023 Joint TE/GE Council Employee Plans Annual Meeting
Cybersecurity Issues - Susan Rees, 2023 Joint TE/GE Council Employee Plans Annual Meeting, Washington, D.C., February 23 - 24, 2023
Practitioner’s Panel – 2023 Joint TE/GE Council Hybrid Annual Meeting
Practitioner’s Panel - Roberta Watson, 2023 Joint TE/GE Council Employee Plans Annual Meeting, Washington, D.C., February 23 - 24, 2023
DOL Court Loss Casts Shadow On Fiduciary Rulemaking
DOL Court Loss Casts Shadow On Fiduciary Rulemaking - Andrew Oringer, Law360, February 17, 2023 (PDF)
Lawsuit Accuses Conagra of Shirking Pension Benefits
Lawsuit Accuses Conagra of Shirking Pension Benefits - Andrew Oringer, PLANSPONSOR, February 16, 2023 (PDF)
Was the DOL FAQed Out and Rolled Over? Second Court Rejects DOL’s Interpretation of ERISA’s Fiduciary Rule
By Andrew Oringer Two recent federal courts, in Carfora v. TIAA, No. 1:21-cv-08384 (S.D.N.Y. Sept. 27, 2022) and American Securities Association [“ASA”] v. U.S. Department of Labor, No....
DOL Rule Permits Consideration of Climate and ESG Factors and Codifies Proxy Voting Responsibilities
DOL Rule Permits Consideration of Climate and ESG Factors and Codifies Proxy Voting Responsibilities – Marcia Wagner, 401(k) Advisor, February, 2023
District Court Once Again Invalidates No Surprises Act Regulations
By Roberta Casper Watson, Dannae Delano and Barry Salkin The No Surprises Act directs the Departments of Treasury, Labor, and Health and Human Services (the “Departments”) to establish a Federal...
Federal Judge Strikes Down DOL Rollover Advice Guidance
Federal Judge Strikes Down DOL Rollover Advice Guidance - Andrew Oringer, PLANSPONSOR, February 14, 2023 (PDF)
Court Rolls Back Rollover Rule in 401(k) Fiduciary FAQ Fight
Court Rolls Back Rollover Rule in 401(k) Fiduciary FAQ Fight - Thomas Clark, Jr., National Association of Plan Advisors, February 13, 2023 (PDF)
Employee Benefit Plans
Employee Benefits Plans - Barry Salkin, contributing author, Start-Up & Emerging Companies: Planning, Financing & Operating the Successful Business, ALM
Secure Act 2.0 Litany of Retirement Change Presents Employers Enhanced Retirement Opportunities for Employees
Secure Act 2.0 Litany of Retirement Change Presents Employers Enhanced Retirement Opportunities for Employee - Marcia Wagner, Dannae Delano, Alexander Olsen, Kim Shaw Elliott and Barry Salkin,...
Patients Down, But Not Out, After 9th Circ. Benefits Ruling
Patients Down, But Not Out, After 9th Circ. Benefits Ruling - Andrew Oringer, Law360, February 3, 2023 (PDF)
Catch-Up Contribution? Good Luck With That. Congressional Snafu Leaves Older Retirement Savers in Limbo
Catch-Up Contribution? Good Luck With That. Congressional Snafu Leaves Older Retirement Savers in Limbo - Marcia Wagner, MarketWatch, January 31, 2023 (PDF)
Expectations of the Fiduciary and Retrospective Review
Expectations of the Fiduciary and Retrospective Review - Stephen Wilkes, panelist, National Society of Compliance Professionals (NSCP) Virtual Educational Seminar, May 3, 2023 - Click here for details
Rule Proposes Removing Moral Exemption to Contraception Mandate
Rule Proposes Removing Moral Exemption to Contraception Mandate - Marcia Wagner, SHRM, January 30, 2023 (PDF)
Glitch-Fixing: How 2024 Catch-Up Contributions Could Be Restored in SECURE 2.0
Glitch-Fixing: How 2024 Catch-Up Contributions Could Be Restored in SECURE 2.0 - Marcia Wagner, 401(k) Specialist, January 30, 2020 (PDF)
DOL “Clarifies” Guidance on the Bonding Requirements to PEPs and their Pooled Plan Providers
DOL "Clarifies" Guidance on the Bonding Requirements to PEPs and their Pooled Plan Providers - Marcia Wagner, 401(k) Advisor, Vol. 30, No. 1, January 2023
DOL Announces Indexed Penalties for Health and Welfare Plans
The Department of Labor (“DOL”) has announced the inflation-adjusted penalties for certain health and welfare plan violations. The new amounts are effective for penalties assessed after January 15,...
TIAA Class Action Reversal May Impose Significant Procedural Hurdle for Future Cases
TIAA Class Action Reversal May Impose Significant Procedural Hurdle for Future Cases - Andrew Oringer, PLANSPONSOR, January 24, 2023 (PDF)
Who’s Liable When a Plan Participant is a Victim of Identity Theft
By Jordan Mamorsky and Barry Salkin Because of the scarcity of case law and regulatory guidance on the issues, any case that analyzes the liability of ERISA plan sponsors and service providers...
Only One Notice Required for Intermittent FMLA Leave
The U.S. Court of Appeals for the Sixth Circuit, in Render, v. FCA US, LLC, has ruled that only one FMLA-qualified notice is required from an employee for intermittent FMLA leave. Law. The FMLA...
Proposed IRS Regulations Would Make Permanent the Availability of Remote Spousal Consent Elections
By Barry Salkin Longstanding Internal Revenue Service (“IRS”) regulations with respect to spousal consent to a waiver of benefits require an election to be witnessed in the physical presence of a...
Potential Fallout from the SEC’s Late Trading Rule Revival
Potential Fallout from the SEC’s Late Trading Rule Revival - Marcia Wagner, NAPA, January 10, 2023 (PDF)
Avoiding Nonqualified Plan Traps: Key Considerations for ERISA Counsel and Employers
Avoiding Nonqualified Plan Traps: Key Considerations for ERISA Counsel and Employers - Mark Poerio, panelsit, Strafford live CLE webinar, January 25, 2023 1:00 - 2:30 PM (EST) - Click here for details
FTC’s Noncompete Ban Would Hit Retirement, RIA Consolidation
FTC’s Noncompete Ban Would Hit Retirement, RIA Consolidation - Marcia Wagner, PLANADVISER, January 9, 2023 (PDF)
ESOP Plan Faces Retirement Records Lawsuit
ESOP Plan Faces Retirement Records Lawsuit - Andrew Oringer, PLANSPONSOR, January 5, 2023 (PDF)
2024 ACA Out-of-Pocket Limits
The U.S. Department of Health and Human Services (HHS) has announced the inflation-adjusted maximum out-of-pocket (OOP) limits that will apply to non-grandfathered plans for plan years beginning in...
Vanguard Cites Shunned Founder Jack Bogle to Deflect Criticism After Epic ESG Flip-Flop
Vanguard Cites Shunned Founder Jack Bogle to Deflect Criticism After Epic ESG Flip-Flop - Ari Sonneberg, RIZBiz, January 3, 2023 (PDF)
Attorney Andrew Oringer Joins The Wagner Law Group
Attorney Andrew Oringer Joins The Wagner Law Group - January 2, 2023
ERISA Group Health Plan’s Self-Help Provision is Enforceable
The Ninth Circuit Court of Appeals, in Mull v. Motion Picture Industry Health Plan; Board of Directors of Motion Picture Industry Health Plan, has determined that an ERISA-covered group health plan...
DOL Rule Permits Consideration of Climate and ESG Factors and Codifies Proxy Voting Responsibilities
By Stephen Wilkes, Izzy Goldowitz and John Sohn On November 22, 2022, the Department of Labor (“DOL”) issued a final rule modernizing and revising the long-standing Investment Duties Regulation....
Secure Act 2.0 Brings a Litany of Retirement Changes
By Roberta Watson, Barry Salkin and Alex Olsen The SECURE Act 2.0 of 2022 (“SECURE 2.0”, or the “Act”) became law as part of the Consolidated Appropriations Act of 2023. SECURE 2.0 builds on the...
IRS Publishes Registered Apprenticeship Guidance
By Stephen Wilkes and Seth Gaudreau On November 30, 2022, the Internal Revenue Service (“IRS”) and the Department of the Treasury (“Treasury”) published Notice 2022-61 (the “Notice”) in the Federal...
Federal Agencies Issue Group Health Plan Guidance
By Roberta Watson, Barry Salkin and Dannae Delano On December 23, 2022, new guidance applicable to group health plans was issued by federal agencies, as described more fully below. The Center for...
IRS Finalizes Delayed Effective Dates for ACA Filing Requirements
In past years, the IRS has extended the deadlines for employer and group health plan Affordable Care Act (“ACA”) reporting. In lieu of the deadline extensions, the IRS has now issued final...
First Circuit Illustrates the Importance of the Fiduciary Responsibilities of Health and Welfare Plan Sponsors and Severance Providers Under ERISA
First Circuit Illustrates the Importance of the Fiduciary Responsibilities of Health and Welfare Plan Sponsors and Severance Providers Under ERISA - Dannae Delano, Barry Salkin and Roberta Casper...
Trade Association’s Insurance Program Not Covered by ERISA
Ninth Circuit Court of Appeals has ruled, in Steigleman vs. Symetra Life, that neither an employer nor its trade association created an ERISA-covered plan merely because the employer paid for long...
Mental Health Parity Rules and Requirements for Plan Sponsors and Administrators
Mental Health Parity Rules and Requirements for Plan Sponsors and Administrators - Roberta Casper Watson, panelist, Strafford live CLE webinar, January 4, 2023, 1:00 - 2:30 PM (EST) - Click here for...
Superseding Cause Under ERISA
Superseding Cause Under ERISA - Barry Salkin, Benefits Law Journal, Vol. 35, No. 4, Winter 2022
Pre-existing Condition Exclusion Enforceable Despite Employer Misrepresentation
The Fifth Circuit Court of Appeals, in Bunner v. Dearborn Nat’l Life Ins. Co., has held that a disability insurer properly denied a claim for long-term disability (“LTD”) benefits based on the...
IRS Issues Important Guidance with Respect to Required Minimum Distribution Regulations
IRS Issues Important Guidance with Respect to Required Minimum Distribution Regulations – Marcia Wagner, 401(k) Advisor, November-December, 2022
Plan Administrators May Not Adopt Rationales for Benefit Denials Not Raised During the Claims Review Process
The Ninth Circuit Court of Appeals, in Collier v. Lincoln Life Assurance Co. of Boston, has held that when a district court engages in a de novo review of an ERISA plan administrator’s denial of...
DOL “Clarifies” Guidance on the Bonding Requirements to PEPS and Their Pooled Plan Providers
By Stephen Wilkes, Seth Gaudreau and Susan Rees A recent Information Letter from Eric Berger, Chief, Division of Coverage, Reporting and Disclosure, in the Office of Regulations and Interpretations...
Webinar: Year-End Planning for Benefit Professionals
Year-End Planning for Benefit Professionals - Marcia Wagner, presenter, webinar for Western Pension & Benefits Council, November 30, 2022, 2:00 - 4:00 PM (EST). - PowerPoint presentation...
New DOL Proposal Would Allow Fiduciaries to Self-Correct Certain Errors
New DOL Proposal Would Allow Fiduciaries to Self-Correct Certain Errors - Citing 11/22/22 Law Alert, PLANSPONSOR, November 28, 2022 (PDF)
DOL’s New ESG Rule ‘Unremarkable’
DOL’s New ESG Rule ‘Unremarkable’ - Marcia Wagner, Forbes, November 23, 2022 (PDF)
IRS Announces Increase in PCORI Fee
The IRS has released Notice 2022-59 to announce the “applicable dollar amount” for the Patient-Centered Outcomes Research Institute (“PCORI”) fee for plan years ending before October 1, 2023....
Department of Labor Proposes Updates to the Voluntary Fiduciary Correction Program
In 2002, the Employee Benefits Security Administration (“EBSA”) of the Department of Labor (“DOL”) established the Voluntary Fiduciary Correction Program (“VFCP”), a free program designed to...
House Republicans Vow To Immediately Repeal Funding For 87,000 IRS Agents
House Republicans Vow To Immediately Repeal Funding For 87,000 IRS Agents - Marcia Wagner, Financial Advisor Magazine, November 18, 2022 (PDF)
The Wagner Law Group Signs Letter to Congress on Crucial HSA Issue
During the pandemic, Congress allowed telehealth services to be provided to HSA-eligible individuals without cost-sharing and without regard to whether they had met their deductibles under their...
IRS to Permit Determination Letters in Limited Circumstances for Individually Designed Code Section 403(b) Plans
Historically, an important element of compliance for tax-qualified plans under Code Section 401(a) or 403(a) was the submission of a request for a favorable determination letter on the form of the...
Why the Crypto Collapse Matters
Why the Crypto Collapse Matters - Marcia Wagner, New York Times, November 17, 2022 (PDF)
New IRS Regulations Resolve “Family Glitch” Issue
The IRS has issued final regulations amending the Affordable Care Act (“ACA”) rules regarding eligibility for the law’s premium tax credit (“PTC”). The new rules provide that the “affordability” of...
Despite TPA’s Contractual Obligation, Employer May Still Be Liable for COBRA Notice Violation
An Alabama district court, in Howard v. Ivy Creek of Tallapoosa, LLC, has held that an employer could not avoid liability for failing to provide a COBRA election notice to a plan participant at the...
Arbitration of ERISA Plan Disputes
Arbitration of ERISA Plan Disputes - Jordan Mamorsky and Barry Salkin, Lexis Nexis Practical Guidance® Practice Note, November 2022
Does It Ever Make Sense To Borrow From Your 401(k)?
Does It Ever Make Sense To Borrow From Your 401(k)? - Marcia Wagner, Forbes, November 7, 2022 (PDF)
Don’t Let ROBS Steal Your Retirement
Don't Let ROBS Steal Your Retirement - Marcia Wagner, Forbes, November 3, 2022 (PDF)
The Wagner Law Group Ranked “Tier 1” ERISA and Employee Benefits Law Firm for 2023
The Wagner Law Group Ranked “Tier 1” ERISA and Employee Benefits Law Firm for 2023 - November 3, 2023
SEC’s Proposed Outsourcing Rule Could Be Hardest on Small Advisers
SEC’s Proposed Outsourcing Rule Could Be Hardest on Small Advisers - Marcia Wagner, PLANADVISER, November 2, 2022 (PDF)
Pension Investing and Climate Change
Pension Investing and Climate Change - Israel Goldowitz, Presenter, 12th Annual Employee Benefits and Social Insurance Conference Boston University School of Law, November 4 - 5, 2022, Boston, MA -...
How To Use Your 401(k) Funds To Start A Business
How To Use Your 401(k) Funds To Start A Business - Marcia Wagner, Forbes, November 1, 2022 (PDF)
Independent Review Prevents “Cat’s Paw” Liability in FMLA Retaliation Claim
The Tenth Circuit Court of Appeals, in Parker v. United Airlines, Inc., has held that the “cat’s paw” theory of liability for FMLA retaliation or interference claims does not apply if the employer...
If You Give Rollover Advice to IRA Owners Act Now: The Compliance Deadline Has Passed
If You Give Rollover Advice to IRA Owners Act Now: The Compliance Deadline Has Passed - Marcia S. Wagner and Kim Shaw Elliott, Investment & Wealth Institute, September/October 2022
Delaware Law Expands Access to Retirement Plans
Delaware Law Expands Access to Retirement Plans - Marcia S. Wagner, SHRM, October 28, 2022 (PDF)
Top 100 Women-Led Businesses in Massachusetts
Top 100 Women-Led Businesses in Massachusetts - Boston Globe, October 28, 2022 (PDF)
Recent Successful Challenges to IRS Actions and Positions
Recent Successful Challenges to IRS Actions and Positions - Barry Salkin, New York University 2022 Review of Employee Benefits and Executive Compensation
IRS Releases 2023 Welfare Benefit Plan Limits
The IRS has released Revenue Procedure 2022-38, which sets forth the 2023 inflation-adjusted limits for certain employee welfare benefit plans and the dollar amounts used for certain discrimination...
IRS Issues Important Guidance with respect to Required Minimum Distribution Regulations
By Jon Schultze and Barry Salkin The SECURE Act made significant revisions to the required minimum distribution rules under Internal Revenue Code (“Code”) Section 401(a)(9) that apply to defined...
Agencies Request for Comments on Issues Related to New Disclosures Under the No Surprises Act Indicate the Importance of Informing Marginalized Populations and Maintaining Privacy of Advance Health Care Information
By Roberta Casper Watson, Dannae Delano and Barry Salkin It should come as no surprise that most Americans do not have the information available to them that is necessary to make informed decisions...
IRS Announces 2023 Cost-of-Living Adjustments Affecting Retirement Plans
By Ari Sonneberg The Internal Revenue Service announced cost-of-living adjustments affecting certain dollar limitations for pension plans and other retirement-related limitations for 2023 in Notice...
Court Finds Employer’s Evidence of COBRA Notice Mailing Procedures Insufficient
An Illinois federal district court, in Earl v. Jewel Food Stores, Inc., has concluded that an employer failed to show it made a good faith effort to provide a COBRA election notice to a terminated...
Insurer Must Make “Reasonably Proximate” Coverage Determinations
The U.S. Court of Appeals for the First Circuit has ruled, in Shields v. United of Omaha, that an insurer must make a coverage determination for a plan participant within a reasonable period of time...
Court Defers to Insurer’s Discretionary Authority
The Eleventh Circuit Court of Appeals, in Stewart v. Hartford Life & Accident Insurance Company, has upheld a lower court’s decision to deny a plaintiff’s appeal for long-term disability (“LTD”)...
Federal Appeals Court Offers Fiduciary-Risk Comfort to Plans
Federal Appeals Court Offers Fiduciary-Risk Comfort to Plans - Stephen Rosenberg, Pensions & Investments, October 3, 2022 (PDF)
Financial Advisors Vote for The Wagner Law Group as the Best ERISA Law Firm for 2022
Financial Advisors Vote for The Wagner Law Group as the Best ERISA Law Firm for 2022 - The Wagner Law Group Press Release, October 3, 2022
Working With the PBGC
Working With the PBGC - Israel Goldowitz, Panelist, Conference of Consulting Actuaries 2022 Annual Meeting, October 16 - 19, 2022, Austin, TX
Free Webinar: Is Your Plan Ready for a DOL Audit – Recording Available
RECORDING AVAILABLE HERE Every year, the Department of Labor (DOL) and the Internal Revenue Service (IRS) perform thousands of audits on employee benefit retirement plans. Even under the best...
Ninth Circuit Requires Lower Court to Consider New Evidence in LTD Suit
The Ninth Circuit Court of Appeals, in Kay v. Hartford Life and Accident Insurance Company, has reversed a lower court’s decision upholding an insurer’s termination of long-term disability (“LTD”)...
RS Announces New Pre-Audit Compliance Pilot Program
IRS Announces New Pre-Audit Compliance Pilot Program - Marcia Wagner, 401(k) Advisor, September 2022
Making Lemonade of Legal Lemons, New Wave of ERISA Class Actions Accuse Fiduciaries of ‘Imprudently’ Using Low-Fee, High-Rated Funds, Like BlackRock TDFs
Making Lemonade of Legal Lemons, New Wave of ERISA Class Actions Accuse Fiduciaries of 'Imprudently' Using Low-Fee, High-Rated Funds, Like BlackRock TDFs - Ari Sonneberg, RIABiz, September 22, 2022...
Federal Court Finds Key Part of ACA’s Preventive Service Mandate Unconstitutional
A Texas federal district court, in Braidwood Management, Inc. v. Becerra, has held that the Affordable Care Act’s (“ACA’s”) requirement that most group health plans and health insurers cover certain...
Conflicting Rulings Prompt Call for ERISA Guidance
Conflicting Rulings Prompt Call for ERISA Guidance - Jordan Mamorsky, Pensions & Investments, September 19, 2022 (PDF)
Department of Labor Updates Guidance on Independence of Qualified Plan Accountants
Plan sponsors of large employee benefit pension plans are familiar with the requirement of audited financial statements for annual reporting purposes. That requirement is discussed in the DOL’s...
Some Nonfiduciary Liabilty Issues After Harris Trust
Some Nonfiduciary Liabilty Issues After Harris Trust - Barry Salkin, Bloomberg Tax, Tax Management Compensation Planning Journal, September 2022
“Probate Exception” Precludes Federal Jurisdiction over ERISA Lawsuit
The Sixth Circuit Court of Appeals, in American Electric Power Service Corporation v. John K. Fitch et al., has affirmed a district court’s dismissal of a group health plan’s ERISA action seeking...
Pay for Performance 2022: From Disclosure to Execution … to Retention
By Mark Poerio Tight labor markets tend to sharpen loyalty issues, as employers compete for an edge by which to retain — and motivate — their key employees. It does not take rocket science to defuse...
Evaluating ARPA’s Impact, 1 Year Later
Evaluating ARPA’s Impact, 1 Year Later - Harold Ashner, PLANSPONSOR, September 1, 2022 (PDF)
ERISA Lawsuit Time-Barred Due to Plan’s Limitations Period
The Eleventh Circuit Court of Appeals, in Bakos v. Unum Life Insurance Company of America, has upheld the dismissal of a lawsuit for wrongful denial of long-term disability (“LTD”) benefits because...
How to Avoid Mistakes In Estate Planning
How to Avoid Mistakes in Estate Planning - Marcia Wagner, fiftyplus advocate, August 28, 2022 (PDF)
Fiduciary Risk Management and Liability-Driven 401(k) Plan Design
Fiduciary Risk Management and Liability-Driven 401(k) Plan Design - Marcia Wagner and Barry Salkin, InvestSense, August 28, 2022 (PDF)
Should You Use The Roth Retirement Savings Option?
Should You Use The Roth Retirement Savings Option? - Marcia Wagner, Forbes, August 27, 2022 (PDF)
Interaction Between FMLA and Mental Health Conditions
Interaction Between FMLA and Mental Health Conditions - Marcia Wagner, 401(k) Advisor, July/August 2022
No Surprises in Agencies’ Reproposal of Independent Dispute Resolution Regulations on No Surprise Act Billing Arbitration
By Danae Delano, Roberta Watson and Barry Salkin Last November, we published a law alert regarding the first two rounds of regulatory guidance on the No Surprise Billing portion of the Consolidated...
RIA Wildfire Erupted on Twitter After Clarence Thomas Put Same-Sex Marriage on Conservative Hit List with ‘Roe v. Wade’
RIA wildfire erupted on Twitter after Clarence Thomas put same-sex marriage on conservative hit list with 'Roe v. Wade’ - Ari Sonneberg, RIABiz, August 25, 2022 (PDF)
A Guide to the SEC’s Reg BI Bulletins
A Guide to the SEC’s Reg BI Bulletins - Stephen Wilkes and Seth Gaudreau, PLANADVISER, August 25, 2022 (PDF)
Marcia S. Wagner Appointed to The New England Legal Foundation Massachusetts Advisory Council
Boston, MA, August 18, 2022 – The Wagner Law Group, widely recognized as the country’s top ERISA and employee benefits law firm, is delighted to announce that Marcia Wagner, the firm’s founder and...
SEC Provides Further Guidance in its Staff Bulletin: Standards of Conduct for Broker-Dealers and Investment Advisers Conflict of Interest
By Stephen Wilkes and Seth Gaudreau The U.S. Securities and Exchange Commission (“SEC”) recently published a Staff Bulletin (the “Bulletin”) providing further fiduciary standards guidance for...
Court Finds Employee-Paid LTD Policy Was Part of Employer’s ERISA Plan
A federal district court in the Middle District of Tennessee has held, in Insurance Company of America, that a long-term disability (“LTD”) policy offered under an employer’s group health plan was...
Labor Opinions are Fair Game for Litigation After Circuit Ruling
Labor Opinions Are Fair Game for Litigation After Circuit Ruling - Roberta Watson, Bloomberg Law, August 19, 2022 (PDF)
Nine Attorneys from The Wagner Law Group to be Recognized in 2023 Edition of The Best Lawyers in America©
Boston, MA, August 18, 2022 – The Wagner Law Group, widely recognized as the country’s top ERISA and employee benefits law firm, is delighted to announce that nine of its attorneys will be...
McDonald’s Settles Lawsuit Over Deficient COBRA Notices
McDonald’s Settles Lawsuit Over Deficient COBRA Notices - SHRM, August, 17. 2022 (PDF)
Inflation Reduction Act’s Impact on Group Health Plans
On August 16, 2022, President Biden signed into law the Inflation Reduction Act (“IRA”). The new legislation contains several provisions impacting group health plans. Below is a description of...
HHS Again Proposes Nondiscrimination Regulations under Section 1557 of the Affordable Care Act
By Dannae Delano, Roberta Casper Watson and Barry Salkin Section 1557 of the Affordable Care Act (“ACA”) prohibits discrimination on the basis of race, color, national origin, sex, age or disability...
IRS Releases ACA Affordability Rates for 2023
The Internal Revenue Service has issued Revenue Procedure 2022-34 to implement the 2023 index adjustments for certain Affordable Care Act (“ACA”) contribution percentages used to determine...
Cetera Preps Advisors to Reap Benefits of New SEC Marketing Rule
Cetera Preps Advisors to Reap Benefits of New SEC Marketing Rule - Financial Advisor IQ, August 11, 2022 (PDF)
Department of Labor (“DOL”) Proposes to “Update” QPAM Exemption
One of the most frequently used of the prohibited transaction class exemptions is Prohibited Transaction Class Exemption 84-14, which provides an exemption for Qualified Plan Asset Managers (the...
Agencies Issue Guidance on Contraception Coverage Requirements
The Department of Labor, Department of Health and Human Services, and the IRS (the “Agencies” ) have issued Frequently Asked Questions 54 (“FAQs”) regarding the contraception coverage requirements...
SEC Marketing Rule: New Engagement Tools but More Red Tape
SEC Marketing Rule: New Engagement Tools but More Red Tape - Financial Advisor IQ, August 2, 2022 (PDF)
WEBINAR: Fiduciary Compliance in ESOP Transactions: Recent DOL Settlement Agreements and Best Practices for Counsel
Fiduciary Compliance in ESOP Transactions: Recent DOL Settlement Agreements and Best Practices for Counsel - Roberta Casper Watson, Strafford live CLE webnar, August 4, 2022, 1:00 - 2:30 M (EDT) -...
WEBINAR: Overturning Roe v. Wade: Impact on Employee Benefit Plans and Next Steps for Plan Sponsors and Administrators
Overturning Roe v. Wade: Impact on Employee Benefit Plans and Next Steps for Plan Sponsors and Administrators - Roberta Casper Watson, panelist, Strafford webinar, September 7, 2022, 1:00 - 2:30 PM...
Crypto in 401(k) Plans: a Plaintiff Lawyer’s Dream?
Crypto in 401(k) Plans: a Plaintiff Lawyer’s Dream? - Thomas E. Clark, Jr., National Association of Plan Advisors, July 28, 2022 (PDF)
Employer Cannot Terminate Employee’s Vested Retiree Life Insurance Benefits
The U.S. Court of Appeals for the Fourth Circuit, in Bellon v. The PPG Employee Life, has ruled that an employer cannot terminate retiree life insurance coverage of employees for whom it had...
Legislative Landscape — What’s Ahead: 2022 NAPA D.C. Fly-In Forum
Legislative Landscape — What's Ahead - Tom Clark, co-panelist, 2022 National Association of Plan Advisors D.C. Fly-In Forum, Washington, D.C., July 26, 2022 - Click here for details
Retirement Industry People Moves
Retirement Industry People Moves - PLANSPONSOR, July 22, 2022 (PDF)
4 Cybersecurity Breach Suits Benefits Lawyers Should Watch
4 Cybersecurity Breach Suits Benefits Lawyers Should Watch - Law360, July 22, 2022 (PDF)
Multiemployer Plan Developments: PBGC Final Rule on Special Financial Assistance and Withdrawal Liability Actuarial Assumptions Litigation
By Dannae Delano and Israel Goldowitz On July 8, 2022, the Pension Benefit Guaranty Corporation (“PBGC”) issued its Final Rule (the “Final Rule”) implementing the American Rescue Plan Act of 2021...
Marilyn Mosby’s Expert Witness in Criminal Trial Previously Described Her Actions as ‘Quite Dumb’
Marilyn Mosby’s Expert Witness in Criminal Trial Previously Described Her Actions as ‘Quite Dumb’ - Marcia Wagner, The Baltimore Sun, Jluy 18, 2022 (PDF)
Boom, Boom, Boom, Charles Schwab Corp. Just Spent $220 Million to Shuck Three Lawsuits
Boom, Boom, Boom, Charles Schwab Corp. Just Spent $220 Million to Shuck Three Lawsuits - Ari Sonneberg, RIABiz, July 18, 2022 (PDF)
ERISA World Awaits Next EBSA Move on Proposed Restrictions on the Prohibited Transaction Exemptions Process
It has been almost four months since the Employee Benefit Security Administration (EBSA) of the Department of Labor (“DOL”) published its proposed amendments to regulations for the procedures by...
HHS Issues Guidance on HIPAA Protections
In response to the Supreme Court ruling in Dobbs v. Jackson Women’s Health Organization, which overturned Roe v. Wade, the U.S. Department of Health and Human Services (“HHS”) has issued new HIPAA...
Employer Responses to Overturning of Roe v. Wade
Employer Responses to Overturning of Roe v. Wade - Roberta Casper Watson and Dannae Delano, LexisNexis Practical Guidance, July 11, 2022
Massachusetts and Vanguard Group Reach Interesting Settlement that Gives the $8-trillion Manager a Shot at Avoiding 49 copycat Suits
Massachusetts and Vanguard Group Reach Interesting Settlement that Gives the $8-trillion Manager a Shot at Avoiding 49 copycat Suits - Ari Sonneberg, RIZBiz, July 8, 2022 (PDF)
UBS, Edward Jones And Others Keep Mum About Covering Abortion Travel Costs
UBS, Edward Jones And Others Keep Mum About Covering Abortion Travel Costs - Roberta Watson, ADVISORHUB, July 7, 2022 (PDF)
IRS Announces Decreases in ACA Affordability Threshold and Increases in ACA Employer Shared Responsibility Penalties for 2022 Plan Years
The IRS has recently updated its Questions and Answers on Employer Shared Responsibility Provisions under the Affordable Care Act to reflect 2022 indexing adjustments for the ACA’s affordability...
Mandated Benefits: 2022 Compliance Guide Mid-Year Update
Mandated Benefits: 2022 Compliance Guide Mid-Year Update – Katherine Brustowicz, Dannae Delano, David Gabor, Virginia Peabody, Barry Salkin, Marcia Wagner and Roberta Casper Watson, Wolters Kluwer,...
Asset Managers Affirm They’ll Pay for Travel
Asset Managers Affirm They'll Pay for Travel - Marcia Wagner, Pensions & Investments, July 4, 2022 (PDF)
Cryptocurrency Trading Risks and Risk Mitigation Strategies for ERISA Plan Investors
Cryptocurrency Trading Risks and Risk Mitigation Strategies for ERISA Plan Investors - Marcia S. Wagner, Mark Greenstein and John Sohn, Bloomberg Law Compensation Planning Journal, July 1, 2022 (PDF)
Grayscale Investments is Suing the SEC to Get its ETF Approved but Bitcoin’s Swoon Means ‘Public Sympathy’ May Swing in Favor of the Regulator
Grayscale Investments is Suing the SEC to Get its ETF Approved but Bitcoin's Swoon Means 'Public Sympathy' May Swing in Favor of the Regulator, a Rules Lawyer Says - RIABiz, July 1, 2022 (PDF)
Employers Providing Abortion Benefits Should Address Compliance Questions
Employers Providing Abortion Benefits Should Address Compliance Questions - Roberta Watson, SHRM, June 29, 2022 (PDF)
Employer Responses to Overturning of Roe v. Wade
Many employers are considering how to respond to the recent ruling overturning Roe v. Wade, which has given states the leeway to outlaw abortion. Employers may have employees who are on either side...
ERISA Considerations in Using Brokerage Window Investing
ERISA Considerations in Using Brokerage Window Investing - Marcia Wagner, 401(k) Advisor, May/June 2022
Delay in Final Claims Appeal Determination Excuses Claimant from ERISA’s Exhaustion of Administrative Remedies Requirement
The Second Circuit Court of Appeals, in McQuillin v. Hartford Life & Accident Ins. Co., has ruled that a claimant exhausted his plan’s administrative remedies and was, therefore, entitled to sue...
NYU’s Victory in ERISA Battle Hinged on Expert Witnesses
NYU's Victory in ERISA Battle Hinged on Expert Witnesses - Marcia Wagner, Law360, June 16, 2022 (PDF)
Plan’s Lawsuit Deadline Not Enforceable Unless Communicated in Final Claims Denial
In two recent cases, a judge in the United States District Court for the District of Utah has ruled that, if an ERISA welfare benefit plan sets a time limit on when a claimant may file a civil...
Required Minimum Distribution Modifications Applicable to Defined Benefit Plans as Well
While most of the attention was on how the IRS’s proposed regulation would address tax-qualified defined contribution plans and IRAs, the IRS also took the opportunity to update the existing...
Understanding the IRS’ New Pre-Audit Letter Program
Understanding the IRS’ New Pre-Audit Letter Program - Dannae Delano, PLANSPONSOR, June 13, 2022 (PDF)
Significant New Corrections Opportunities Stem From IRS Program
Significant New Corrections Opportunities Stem From IRS Program - Dannae Delano, PLANADVISER, June 13, 2022 (PDF)
Employer Can Interfere with FMLA Rights Without Denying FMLA Leave
The United States Court of Appeals for the Seventh Circuit, in Ziccarelli vs. Dart, has ruled that an employer need not deny FMLA leave to an employee in order to interfere with his FMLA rights....
Companies Urged to Review Abortion Coverage With Roe in Balance
Companies Urged to Review Abortion Coverage With Roe in Balance - Roberta Watson, Bloomberg, News, June 8, 2022 (PDF)
IRS Announces ‘Pre-Audit’ Retirement Plan Pilot Program
IRS Announces ‘Pre-Audit’ Retirement Plan Pilot Program - Dannae Delano, 401(k) Specialist, June 7, 2022 (PDF)
IRS Announces New Pre-Audit Compliance Pilot Program
Last week, the IRS announced via newsletter a new pre-audit compliance opportunity for employer-sponsored retirement plans selected for audit beginning immediately (the “Pilot Program”). Under the...
Important Pension Issues Likely to Surface: Webinar
Important Pension Issues Likely to Surface - Israel Goldowitz and Stephen Wilkes, panelists, American Bankruptcy Institute webinar, June 13, 2022 - Click here for details
DOL Proposes Tougher Prohibited Transaction Exemption Procedures
DOL Proposes Tougher Prohibited Transaction Exemption Procedures - Stephen Wilkes and Mark Greenstein, Bloomberg Tax, June 6, 2022 (PDF)
The Democratization of Alternative Investments in 401(k) Plans
The Democratization of Alternative Investments in 401(k) Plans - Thomas Clark, Jr., Lord Abbett, June 6, 2022 (PDF)
401(k)s with Bitcoin Should Expect Lawsuits: Lawyers
401(k)s with Bitcoin Should Expect Lawsuits: Lawyers - Mark Greenstein, Ignites, June 2, 2022 (PDF)
Investors Flood into Fidelity’s Bitcoin Fund
“Investors Flood into Fidelity’s Bitcoin Fund” – Mark Greenstein, Ignites, June 2, 2022 (PDF)
Interaction Between FMLA and Mental Health Conditions
The Department of Labor (“DOL”) has released Fact Sheet 280 (“Fact Sheet”) and a series of FAQs with regards to the interplay between the FMLA and mental health conditions. Law. Under the FMLA,...
Accident and the Presumption Against Suicide Under ERISA; Benefits Law Journal
Accident and the Presumption Against Suicide Under ERISA - Barry Salkin, Benefits Law Journal, Summer 2022, Vol. 35, No. 2 (PDF)
The Wagner Law Group Comment Letter to DOL Regarding New Rules for Prohibited Transaction Exemption Application Procedures
The Wagner Law Group Comment Letter to DOL Regarding New Rules for Prohibited Transaction Exemption Application Procedures - May 31, 2022
IRS Provides Guidance on Leave-Based Donation Programs for Ukraine
The IRS has issued Notice 2022-28 (the “Notice”) to explain the tax treatment of employer leave-based donation programs to aid the people of Ukraine. The Notice begins by stating that the “invasion...
Retirement Bill Eyeing ERISA Arbitration Ban Stirs Strong Reaction: PLANSPONSOR
Retirement Bill Eyeing ERISA Arbitration Ban Stirs Strong Reaction - PLANSPONSOR, May 24, 2022 (PDF)
Work Product in ERISA Context
Work Product in ERISA Context – Barry Salkin, Benefits Law Journal, Spring 2022, Vol. 35, No. 1 (PDF)
Fiduciary Laws Pension Trustees Should Know: Speaking Engagement
Fiduciary Laws Pension Trustees Should Know - Marcia Wagner, speaker, National Conference on Public Employee Retirement Systems Annual Conference & Exhibition, May 22, 2022 - More details here -...
4 Takeaways As DOL Mulls Climate Risk For Retirees: Law360
4 Takeaways As DOL Mulls Climate Risk For Retirees – Law360, May 20, 2022 (PDF)
Small Employer Did Not Commit Itself to FMLA Leave Requirements
In Jones v. Wireless Time of Alabama, the U.S. District Court, Southern District of Alabama ruled that an employee was not entitled to FMLA leave despite the fact that her employer referred to the...
Insurer Breached Fiduciary Duty to Maintain Effective Benefit Enrollment System
The Eighth Circuit Court of Appeals, in Skelton v. Radisson Hotel Bloomington, has upheld a district court’s decision that an insurer acted as a fiduciary in determining eligibility and conducting...
Retirement Industry People Moves
Retirement Industry People Moves – John Sohn, PLANSPONSOR, May 6, 2022 (PDF)
Elizabeth Warren Taken to Task by Experts for ‘Misplaced,’ ‘Misinformed’ and Ultimately Toothless Letter to Fidelity’s Abby Johnson, Criticizing Firm’s New Bitcoin-Inclusive 401(k) Menus
Elizabeth Warren Taken to Task by Experts for ‘Misplaced,’ ‘Misinformed’ and Ultimately Toothless Letter to Fidelity’s Abby Johnson, Criticizing Firm’s New Bitcoin-Inclusive 401(k) Menus – Marcia...
Are You Ready for the SEC’s New Marketing Rule?
Are You Ready for the SEC’s New Marketing Rule? – Seth Gaudreau and Steve Wilkes, National Association of Plan Advisors (NAPA), May 6, 2022 (PDF)
White Paper: SEC Marketing Rule
SEC Marketing Rule Insights By Seth Gadreau and Stephen Wilkes With the U.S. Securities and Exchange Commission (“SEC”) November 4, 2022, date for full compliance with its “Marketing Rule” (found...
November SEC Advertising Rule Compliance Date Fast Approaching
November SEC Advertising Rule Compliance Date Fast Approaching – Seth Gaudreau and Steve Wilkes, PLANADVISER, May 5, 2022 (PDF)
Are Brokerage Windows an Effective Way of Limiting Fiduciary Risk After Hughes v. Northwestern?
In Hughes v. Northwestern University, 142 S.Ct. 737 (January 24, 2022), the Supreme Court held that fiduciaries to self-directed defined contribution retirement savings plans are responsible for...
Would A Brokerage Window Limit An ERISA Plan’s Fiduciary Risk?
Would A Brokerage Window Limit An ERISA Plan’s Fiduciary Risk? – Barry Salkin and Mark Greenstein, Finanacial Advisor Mag, May 4, 2022 (PDF)
IRS Announces 2023 Limits for HSAs, HDHPs and Excepted Benefit HRAs
The IRS has announced the cost-of living adjustments to the applicable dollar limits for health savings accounts (“HSAs”), high deductible health plans (“HDHPs”) and excepted benefit health...
Wagner Law Lures ERISA Expert Back From BNY Mellon
Wagner Law Lures ERISA Expert Back From BNY Mellon – John Sohn, Law360 May 3, 2022 (PDF)
Attorney John Sohn Returns to The Wagner Law Group
Attorney John Sohn Returns to The Wagner Law Group - May 2, 2022 Law News Torday; Finance Industry Today; Massachusetts Business Journal; BenefitsLink
Employers Cautioned as Suits Over COBRA Coverage Notices Add Up
Employers Cautioned as Suits Over COBRA Coverage Notices Add Up – Roberta Watson, Bloomberg News, April 29, 2022 (PDF)
IRS Announces Spike in 2023 Limits for HSAs and High-Deductible Health Plans
IRS Announces Spike in 2023 Limits for HSAs and High-Deductible Health Plans – SHRM, April 29, 2022 (PDF)
White Paper: Proposed Changes to Prohibited Transaction Exemption Procedures
By: Stephen P. Wilkes, Partner; Mark Greenstein, Of Counsel DOL PROPOSES TOUGHER PROHIBITED TRANSACTION EXEMPTION PROCEDURES LAW The Employee Retirement Income Security Act of 1974, as amended...
Employers Act as Fiduciaries When Managing Premium Payments for Benefit Plan
The Sixth Circuit Court of Appeals, in Chelf v. Prudential Insurance Company of America, has determined that a district court erred in dismissing a claim for breach of fiduciary duty based on...
Wagner Law Group Legal Opinion of RightBridge Form 5500 Fee Methodology
Wagner Law Group Legal Opinion of RightBridge Form 5500 Fee Methodology – CaiptalROCK, April 26, 2022
Plain, Ordinary Meaning v. Literal Meaning
Plain, Ordinary Meaning v. Literal Meaning – Barry Salkin, Journal of Deferred Compensation and Benefits: Nonqualified Plans and Deferred Compensation, Vol. 27, n0. 3, Spring 2022 (PDF)
Longstanding IRS Administrative Practice Invalidated
When agencies take controversial regulatory actions, it can be anticipated that those actions will be challenged in federal district courts as soon as they become operative, if not before. In other...
The Fight to Protect Consumers Against Bad Investment Advice is Advancing, But Slowly
The Fight to Protect Consumers Against Bad Investment Advice is Advancing, But Slowly – Marcia Wagner, CNBC, April 16, 2022 (PDF)
IRS Proposes Change in Eligibility Provisions for ACA Premium Tax Credit
The IRS has issued a proposal that would amend the existing Affordable Care Act (“ACA”) regulations regarding eligibility for the law’s premium tax credit (“PTC”) to provide that the affordability...
IRS Issues Proposed Regulations for Required Minimum Distributions Under the SECURE Act
The SECURE Act (the “Act”) made two major changes to the required minimum distribution rules under Internal Revenue Code (“Code”) Section 401(a)(9): it extended the required beginning date for...
IRS Issues Proposed Regulation to Give SECURE Act MEPS “Bad Apple” Relief
On March 28, 2022, the IRS issued a notice of proposed rulemaking to add a new section - 26 CFR section 1.413-3 Special Rules for Section 413(e) Plans - to the Code of Federal Regulations (CFR). 87...
Webinar – Mandates Beyond the Advisers Act: Anti-Money Laundering, ERISA and ’34 Act Section 13 Reporting for Investment Advisers
Click here for details
HHS Increases Civil Monetary Penalties for Certain HIPAA and ACA Violations
The Department of Health and Human Services (“HHS”) has published updated civil penalties. The new penalty amounts, which became effective March 17, 2022, apply to violations occurring on or after...
Grayscale CEO’s Threatened Lawsuit Against the SEC, in Case it Rejects His Firm’s Spot-Bitcoin ETF Application
Grayscale CEO’s Threatened Lawsuit Against the SEC, in Case it Rejects His Firm’s Spot-Bitcoin ETF Application – Ari Sonneberg, RIABiz, April 1, 2022 (PDF)
Forthcoming Developments and Employee Benefits – RightBRIDGE Summit
Forthcoming Developments and Employee Benefits - Marcia Wagner, RightBRIDGE Summit, sponsored by CapitalROCK, March 24, 2022 - PowerPoint presentation available here
Firing After FMLA Leave Did Not Violate FMLA
The Seventh Circuit Court of Appeals, in Anderson v. Nations Lending Corporation, has ruled that an employer’s decision to terminate an employee after returning from FMLA leave did not violate the...
Ninth Circuit Finds Welfare Plan Did Not Abuse Its Discretion In Denying Benefits
The Ninth Circuit Court of Appeals, in Alves v. Hewlett-Packard Comprehensive Benefits Plan, has found that a welfare benefit plan’s claims administrator did not abuse its discretion in denying a...
ERISA Considerations In Using Brokerage Window Investing – LAW360
ERISA Considerations In Using Brokerage Window Investing - Law360, March 10, 2022 (PDF)
President Continues COVID Extensions
Reasoning that “the COVID-19 pandemic continues to cause significant risk to the public health and safety of the Nation,” President Biden has extended the COVID-19 National Emergency, which was...
People on the Move: International Women’s Month
People on the Move: International Women’s Month – Boston Business Journal, March 8, 2022 (PDF)
Alternative Investments in Participant Directed Individual Account Plans: The Treatment of Private Equity Sleeves
Alternative Investments in Participant Directed Individual Account Plans: The Treatment of Private Equity Sleeves - Co-author, Bloomberg Tax Management Compensation Planning Journal, 50 CPJ Issue...
Employer’s Recertification Requirement Doesn’t Interfere with Employee’s FMLA Rights
The U.S. Court of Appeals for the Eighth Circuit, in Whittington v. Tyson Foods, Inc., has concluded that an employer may require recertification of an employee’s need for leave under the Family and...
IRS Releases Revised Guidance on Medical and Dependent Care Expenses
The IRS has released the 2021 editions of Publication 502, “Medical and Dental Expenses” and Publication 503, “Child and Dependent Care Expenses.” Publication 502 (“Pub. 502”). Pub. 502 defines...
Retirement Plans: 2022 Opportunities
Retirement Plans: 2022 Opportunities – Marcia Wagner, 401(k) Advisor, February 2022
409A Checklist for Employment Agreements
It has been over 15 years since Congress enacted Internal Revenue Code §409A, and compliance has become generally routine for traditional deferred compensation and other non-qualified plans. Most...
Employer Must Provide Retroactive Coverage and Pay Penalties for COBRA Election Notice Violations
The U.S. District Court of Michigan, in Buford v. General Motors, L.L.C., has concluded that an employer’s conduct violated COBRA election notice requirements and warranted the imposition of...
COVID-19 Long-Haulers May Have Tough Time Getting Long-Term Disability Benefits
COVID-19 Long-Haulers May Have Tough Time Getting Long-Term Disability Benefits – Marcia Wagner, SHRM, February 11, 2022 (PDF)
Charles Schwab & Co. registers TD Ameritrade brokers to rep Schwab products and to retain clients who chose to convert to ‘Schwab’
Charles Schwab & Co. registers TD Ameritrade brokers to rep Schwab products and to retain clients who chose to convert to ‘Schwab’ – Ari Sonneberg, RIABiz, February 8, 2022 (PDF)
New Lawsuit in 5th Circuit Challenges Revised DOL Fiduciary Rule
New Lawsuit in 5th Circuit Challenges Revised DOL Fiduciary Rule – Stephen Wilkes, WealthManagement.com, February 7, 2022 (PDF)
Supreme Court Ruling Could Curtail High-Cost Retirement Plan Options
Supreme Court Ruling Could Curtail High-Cost Retirement Plan Options – Marcia Wagner, Barrons, February 4, 2022 (PDF)
FMLA-Eligible Employee May Be Terminated for Violating Employer’s Leave Policy
In Koch v. Thames Healthcare Group, the United States Court of Appeals for the Sixth Circuit has ruled that an employee may be terminated for violating her employer’s leave policy despite the fact...
DOL “Clarifies” Guidance on Private Equity Investments In Defined Contribution Plans
It has been a frequently stated observation that the policy position of the Department of Labor (“DOL”) on pension issues may vary a bit with the party occupying the White House. A recently issued...
Caution Clients Against IRA Asset Class Mistakes
Caution Clients Against IRA Asset Class Mistakes – Barry Salkin, PLANADVISER, February, 1, 2022 (PDF)
Hughes v. Northwestern Bottom Line: Harder to Dismiss Cases
Hughes v. Northwestern Bottom Line: Harder to Dismiss Cases – Marcia Wagner, 401(k) Specialist, February 1, 2022 (PDF)
Tax Court Rejects Aggressive IRA Strategy
View Printable PDF In recent years, the IRS has paid increased attention to what it regards as impermissible uses or operation of individual retirement accounts (“IRAs”). The recent Tax Court case...
Supreme Court Ruling Puts 401(k) Fiduciaries on Guard
Supreme Court Ruling Puts 401(k) Fiduciaries on Guard – Marcia Wagner, SHRM, January 28, 2022 (PDF)
Insurer Cannot Terminate LTD Benefits Without Additional Information
The United States Court of Appeals for the Eighth Circuit has determined, in Roehr v. Sun Life Assurance Co. of Canada, that long term disability (“LTD”) benefits cannot be terminated by an insurer...
SEC Expects to Focus on Cybersecurity in 2022
The U.S. Securities and Exchange Commission (“SEC”) has focused on cybersecurity under the Biden administration and it is expected to be one of its top priorities for the coming year. The SEC’s...
The Wagner Law Group Now Has 11 Fellows of the American College of Employee Benefits Counsel – A Nationwide High
We are very proud to share that our firm now includes 11 Fellows of the prestigious American College of Employee Benefits Counsel. Fellows of the American College of Employee Benefits Counsel...
Massachusetts Investigating Sales of Target Date Funds to Retail Investors After Word of Surprise Tax Bills
Massachusetts Investigating Sales of Target Date Funds to Retail Investors After Word of Surprise Tax Bills – Marcia Wagner, Financial Planning, January 26, 2022 (PDF)
Cybersecurity A Major SEC Focus in 2022
Cybersecurity A Major SEC Focus in 2022 - Seth Gadreau and Stephen Wilkes, 401(k) Specialist, January 26, 2022 (PDF)
After Supreme Court Ruling, Are TDFs A Ticking Time Bomb Of Fiduciary Liability?
After Supreme Court Ruling, Are TDFs A Ticking Time Bomb Of Fiduciary Liability? – Marcia Wagner, FiduciaryNews, Januaey 25, 2022 (PDF)
Stephen P. Wilkes Appointed as Chief Legal Officer of The Wagner Law Group
We are delighted to announce that partner, Stephen P. Wilkes, has been designated as our firm’s Chief Legal Officer. Excellent leadership structure is vital as our firm continues to grow, and Steve...
Plans Must Cover Over-the-Counter COVID Tests
The Department of Labor, Department of Health and Human Services, and the IRS (the “Agencies”) have issued Frequently Asked Questions #51 (“FAQs”) regarding implementation of the Families First...
Department of Labor Announces Temporary Enforcement Policy for Group Health Plan Service Provider Disclosures
By Roberta Casper Watson, Dannae Delano and Barry Salkin The Consolidated Appropriations Act, 2021 (“CAA”) amended Section 408(b)(2) of ERISA to require that providers of brokerage services or...
DOL ‘Clarifies’ Guidance on the Bonding Requirements to PEPS and Their Pooled Plan Providers
DOL ‘Clarifies’ Guidance on the Bonding Requirements to PEPS and Their Pooled Plan Providers – Marcia Wagner, 401(k) Advisor, January, 2023
Entire Keightley & Ashner Team to Join The Wagner Law Group
We are ecstatic to announce that the entire team from Keightley & Ashner, the nation’s premier PBGC-focused law firm, will be joining our Washington, D.C. office, where partner and former PBGC...
Entire Keightley & Ashner Team to Join The Wagner Group
Entire Keightley & Ashner Team to Join The Wagner Group – January 12, 2022 Today in Law; Massachusetts Business Journal; Finance Industry Today; BenefitsLink
HHS Reaffirms That Discrimination on Basis of Sex Under ACA Section 1557 Includes Discrimination Based on Sexual Orientation and Gender Identity
By Roberta Casper Watson, Dannae Delano and Barry Salkin New guidance from the Department of Health and Human Services (“HHS”) affirms that Section 1557 of the Affordable Care Act (the “ACA”), by...
Who’s watching the money?
Who’s watching the money? – Marcia Wagner, Chicago Business Journal, January 4, 2022 (PDF)
PCORI Fee Announced
IRS has released Notice 2022-4, which provides the “applicable dollar amount” for the Patient-Centered Outcomes Research Institute (“ PCORI” ) fee for plan years ending before October 1, 2022....
Insurer Need Not Defer to Participant’s Physician or Government Agency Decisions
The Seventh Circuit Court of Appeals has ruled, in Feeney v. Unum Life Insurance, that an insurance company need not defer to either a participant’s treating physician or governmental agencies when...
Agencies Issue Interim Final Regulations on Prescription Drug and Health Care Spending Data Submission by Group Health Plans and Health Insurance Issuers
Section 204 of Title II of Division BB (“Section 204”) the Consolidated Appropriations Act, 2021 (the “Act”) requires group health plans and health insurance issuers offering group health insurance...
The Wagner Law Group Ranked “Tier 1” ERISA And Employee Benefits Law Firm For 2022
Christopher H. Suh Listed Among Boston’s Top Lawyers Of 2021
McKinsey’s $31-Billion RIA for McKinsey Staffers Pays $18 Million Fine
McKinsey's $31-Billion RIA for McKinsey Staffers Pays $18 Million Fine - Ari Sonneberg, RiaBiz, December 22, 2021
Bill Capuzzi Took Apex Near to the Zenith but the SPAC failed to Deliver an IPO Via Blank Check
Bill Capuzzi Took Apex Near to the Zenith but the SPAC failed to Deliver an IPO Via Blank Check - Ari Sonneberg, RIABiz, December 16, 2021
2021 ERISA/EMPLOYEE BENEFITS LEGAL COMPLIANCE CHECKLIST
Tax Qualified Plans Plan document: Required amendments 401(k) and 403(b) plans – Amendments to comply with the IRS final hardship distribution regulations must be adopted by December 31, 2021...
Is PBGC Adding “Early Warning” and “Follow-On” to its Toolbox for Multiemployer Plans?
By Israel Goldowitz Corporate sponsors of defined benefit pension plans may be familiar with the Pension Benefit Guaranty Corporation’s (PBGC) Early Warning program and its Follow-on policy. Under...
Will the Supreme Court Give Plan Sponsors Any Relief From Excessive Fee Lawsuits?
Will the Supreme Court Give Plan Sponsors Any Relief From Excessive Fee Lawsuits? - Ari Sonneberg, PLANSPONSOR, December 13, 2021
EBSA Will Continue to Prioritize Finding Missing Participants
EBSA Will Continue to Prioritize Finding Missing Participants - Marcia Wagner, Pensions & Investments, December 13, 2021
Retirement Plan Post-2021 Opportunities
By Jon Schultze Employers and plan sponsors of retirement plans need to be aware of some responsibilities and opportunities that are available as we head into 2022. Adopting a New Plan – Employers...
Biden Fiduciary Definition Moves Could Wrap In Annuities, IRAs
Biden Fiduciary Definition Moves Could Wrap In Annuities, IRAs - Susan Rees, Bloomberg Law, December 3, 2021
Rollovers In The Crosshairs
Rollovers In The Crosshairs - Kim Shaw Elliott, InusurnaceNews.net, December 1, 2021
CMS Announces Medicare Part A Deductibles and Part B Premiums for 2022
The Centers for Medicare & Medicaid Services (“CMS”) has announced the 2022 premiums, deductibles and coinsurance amounts for the Medicare Part A and Part B programs. Medicare Part A covers...
Agencies Issue Two Rounds of No Surprise Billing Guidance
By Roberta Casper Watson, Dannae Delano and Barry Salkin The No Surprises Act (“Act”), part of the Consolidated Appropriations Act, 2021, enhances the ACA’s consumer protections by prohibiting...
Year End Reminders for Retirement Plans 2021 Edition
As the end of 2021 approaches, employers and plan sponsors of retirement plans need to be aware of their year-end responsibilities and some of the issues they will need to consider going into 2022....
The Fiduciary Rule Rides Again
The Fiduciary Rule Rides Again - Stephen Wilkes, live complimentary webinar for Foreside, November 10, 2021, 1:00 PM (EST) - Recording available here
Multiple Employer Welfare Arrangement in California Allowed to Continue Large Employer Rating for Small Employers Per New California State Legislation
Biocom, an employer association for employers in the biotech life sciences based in San Diego, established a health plan for its member employers in 2012. The Beyond Benefits Life Science...
IRS Releases 2022 Welfare Benefit Plan Limits
The IRS has released Revenue Procedures 2021-25, and 2021-45 which set forth the 2022 inflation-adjusted limits for certain employee welfare benefit plans and the dollar amounts used for certain...
Department of Labor Action Sends a Message to Plan Fiduciaries & Retirement Committees
Department of Labor Action Sends a Message to Plan Fiduciaries & Retirement Committees - 401kTV Discussing November 2, 2021 Law Alert by Jon Schultze, Barry Salkin and Susan Rees, November 16,...
Practice Progress: Development of PEPs in 2021
Practice Progress: Development of PEPs in 2021 - Susan Rees, PLANADVISER, November 15, 2021
Attorney: DOL’s Interpretation of Fiduciary Rule More Expansive Than Ever
Attorney: DOL's Interpretation of Fiduciary Rule More Expansive Than Ever - Stephen Wilkes, WealthManagement.com, November 10, 2021 (PDF)
Insurer Not Bound By Employer’s Errors
The Fifth Circuit Court of Appeals has ruled, in Talasek v. National Oilwell Varco, L.P., that an insurer was not required to pay a supplemental life insurance claim merely because of...
Retirement Plans in Bankruptcy
Retirement Plans in Bankruptcy - Thomas Clark, Jr., Israel Goldowitz and Jordan Mamorsky, Thomson Reuters Practical Law, November 5, 2021
Retirement Industry People Moves
Retirement Industry People Moves - Zach Meth, PLANSPONSOR, November 5, 2021 (PDF)
Service Provider Collaboration and the DOL’s Cybersecurity Guidance
Service Provider Collaboration and the DOL’s Cybersecurity Guidance - Jon Schultze, Susan Rees and Barry Salkin, November 5, 2021 (PDF)
Employer May Terminate Employee Because It Corrected FMLA Irregularities
The U.S. Court of Appeals for the Third Circuit has ruled, in Watson v. Drexel University, that an employer may terminate an employee for taking unauthorized leave because it had previously...
IRS Announces Cost-of-Living Adjustments Affecting Retirement Plans for 2022
The Internal Revenue Service announced cost-of-living adjustments affecting certain dollar limitations for pension plans and other retirement-related limitations for 2022 in Notice 2021-61. The...
Getting Retirement Plan Help From the IRS
Getting Retirement Plan Help From the IRS - Ari Sonneberg, PLANSPONSOR, November 3, 2021
Misuse of Participant Confidential Data
As we explained in our recent Law Alert, the Department of Labor (“DOL”) has become highly focused on the cybersecurity practices of plan sponsors and their service providers and has begun asking...
DOL Investigations of Employee Benefit Plans: Responding to Enforcement Actions, Audits, and Settlements
DOL Investigations of Employee Benefit Plans: Responding to Enforcement Actions, Audits, and Settlements - Strafford live CLE webinar, November 10, 2021, 1:00 - 2:30 PM (EST) - Click here for...
Employer-Sponsored Health Plan Federal Regulation: ACA, COBRA, ADA, GINA, CAA, MHPAEA, Reporting Requirements
Employer-Sponsored Health Plan Federal Regulation: ACA, COBRA, ADA, GINA, CAA, MHPAEA, Reporting Requirements - Roberta Casper Watson and Dannae Delano, panelists, Strafford, live CLE webinar,...
DOL Investigations of Employee Benefit Plans: Responding to Enforcement Actions, Audits, and Settlements
DOL Investigations of Employee Benefit Plans: Responding to Enforcement Actions, Audits, and Settlements November 11, 2021
The Wagner Law Group Grows L.A. Office With the Addition of Attorney Zachary Meth
Department of Labor Provides Temporary and Limited Relief to Investment Advice Fiduciaries
On October 25, the DOL issued a temporary enforcement policy related to Prohibited Transaction Exemption (“PTE”) 2020-02, an exemption for investment advice fiduciaries with respect to employee...
RIAs May Face Ticking Time Bomb After SEC Slams a $1.9-billion RIA for Neglecting ‘Orphan’ Accounts While Charging Fees, a Problem that may be Industrywide
RIAs May Face Ticking Time Bomb After SEC Slams a $1.9-billion RIA for Neglecting 'Orphan' Accounts While Charging Fees, a Problem that may be Industrywide - Ari Sonneberg, RIABiz, October 27, 2021
UPDATE: Does Your Plan use a LIMITED SCOPE AUDIT for Form 5500 Financial Reporting?
UPDATED October 27, 2021 - Originally published August 13, 2019. There has been a significant new development for employee benefit plan administrators of large plans who opt for a "limited scope...
Further Thoughts on the DOL’s Informal Guidance on Cybersecurity
As described in our May 3, 2021 Alert, the Department of Labor’s (“DOL’s") informal guidance left many unanswered questions on cyber breaches involving the theft of assets in a participant’s...
DOL Drops ‘Bomb’ On Advisors Who Give Advice To IRA Owners
DOL Drops ‘Bomb’ On Advisors Who Give Advice To IRA Owners - Km Shaw Elliott, InsuranceNewsNet, October 22, 2021
Department of Labor Issues Proposed Changes to Investment Duties Rule Under ERISA
The much-anticipated revised Investment Duties regulation drops ERISA fiduciaries into 21st century investment decision making, freeing fiduciaries to consider all relevant facts and circumstances...
Congress Considers Mandatory Auto-Enrollment IRAs
All eyes are on Congress as it wrestles with a $1 trillion infrastructure bill and a $3.5 trillion budget reconciliation bill. The House Ways and Means Committee markup of the reconciliation bill...
Retirement Industry People Moves
Retirement Industry People Moves - PLANSPONSOR, October 1, 2021
Pooled Employer Plans
Asset Manager Mergers Can Warrant Fresh Looks From Plan Sponsors
Asset Manager Mergers Can Warrant Fresh Looks From Plan Sponsors - Stephen Wilkes, Bloomberg Law, September 22, 2021
The DOL’s New Cybersecurity Audits and Informal Guidance
Recently, the Department of Labor (“DOL”) has become highly focused on the cybersecurity practices of plan sponsors and their service providers. Perhaps in response to the growing number of ERISA...
Do You Have Questions About How To Comply With The New DOL Fiduciary “Investment Advice” Prohibited Transaction Exemption? Part 2
Recordkeeper Consolidation: Plan Sponsor 30-Minute Special Briefing
Recordkeeper Consolidation: Plan Sponsor 30-MinuteSpecial Briefing - Stephen Wilkes, Institutional Investment Consulting free webcast, September 14, 2021 - Click Here for details and registration
IRS Guidance for Plan Sponsors on ARPA’s Effect on Funding for Plan Years 2020 and 2019
As we advised in Important Benefit Plan Provisions of the American Rescue Plan Act of 2021, in the American Rescue Plan Act of 2021 (ARPA), Congress provided funding relief for single-employer...
Look Beyond the Label when Exploring ESG Investment Options
Look Beyond the Label when Exploring ESG Investment Options - Thomas Clark, Jr., Lord Abbot, September 9, 2021
Creating Effective Diversity, Equity, and Inclusion Initiatives
Creating Effective Diversity, Equity, and Inclusion Initiatives - David Gabor and Katherine Brustowicz, Clear Law Institute CLE and HR-credit webinar, September 8, 2021, 1:00 - 2:15 PM (EDT) - Click...
Do You Have Questions About How To Comply With The New DOL Fiduciary “Investment Advice” Prohibited Transaction Exemption? Part 1
IRS Updates Guidance Regarding Correction of Tax-Qualified Plan Errors under the Employee Plans Compliance Resolution System (EPCRS)
Mistakes happen, even with respect to tax-qualified plans and 403(b) plans that have implemented internal controls designed to reduce, if not eliminate, the likelihood of plan failures. Under the...
What Do Advisors Absolutely Need to Know About ERISA-Related Issues?
What Do Advisors Absolutely Need to Know About ERISA-Related Issues? Marcia Wagner Explains - 401(k) Specialist, August 9, 2021
Prepare Clients for a Litigious 401(k) Environment
Prepare Clients for a Litigious 401(k) Environment - Jordan Mamorsky, AccountingWeb, August 4, 2021
Some Additional Standing Issues Under ERISA
SEC Extracts $96M Settlement from TIAA Subsidiary for Rollover Practices – This is Only the Beginning
The Securities and Exchange Commission (“SEC”) beat the Department of Labor (“DOL”) to the punch and announced a major settlement with a broker dealer arising from its rollover practices. In what is...
Do You Have Questions About How To Comply With The New DOL Fiduciary “Investment Advice” Prohibited Transaction Exemption? Part 2
Liability-Driven Investing and Other De-risking Strategies for Pension Plans
View Printable PDF This practice note discusses defined benefit plan de-risking techniques that defined benefit plan sponsors can use to manage the volatility inherent in defined benefit plan...
US Department of Labor Announces New Cybersecurity Guidance for Plan Sponsors, Plan Fiduciaries, Record-Keepers and Plan Participants
View Printable PDF
Must Death Distributions Under 10-Year Rule Be Taken Annually?
By Kimberly Shaw Elliott and Barry Salkin New Pub 590B Prompts Surprise Just in the nick of time for filing 2020 federal income tax returns, the IRS issued a revised Publication 590-B (2020),...
Employer Has Separate Obligations Under Workers’ Compensation and FMLA
The U.S. Court of Appeals for the Eleventh Circuit has ruled, in Ramji vs. Hospital Housekeeping Systems, that complying with the state’s workers’ compensation laws does not absolve an employer from...
Court Finds Project Completion Incentive Plan Not an ERISA-Covered Severance Plan
The U.S. Court of Appeals for the Fifth Circuit has ruled in Atkins vs. CB&I, LLC, that a Project Completion Incentive (“PCI”) plan which offered a bonus to employees upon termination of...
IRS Says Personal Protective Equipment Expenses are Qualified Medical Expenses
The IRS has issued Announcement 2021-7, which confirms that personal protective equipment (“PPE”) such as masks, hand sanitizer, and sanitizing wipes purchased “for the primary purpose of preventing...
Court Says Group Health Plan May Not Exclude Specified Autism Treatments
The District Court for the Northern District of California has ruled, in Doe v. United Behavioral Health, that the exclusion of certain specified procedures related to the treatment of autism...
American Rescue Plan Act Extends Tax Credits for COVID-19 Leave
On March 11, 2021, President Biden signed into law the American Rescue Plan Act of 2021 (“ARPA”). Among other provisions aimed at economic recovery, ARPA extends employer tax credit opportunities...
Important Benefit Plan Provisions of the American Rescue Plan Act of 2021
By Dannae Delano, Israel Goldowitz, Barry Salkin and Roberta Casper Watson Although not the primary focus of the American Rescue Plan Act of 2021 (“ARPA”) and, at least with respect to the...
Court Says Welfare Plan Fiduciary Breached Duties by Misusing Participant Contributions
A federal district court in the Western District of Virginia has held, in Hammer v. Johnson Senior Ctr., that the fiduciary for a welfare plan violated its duties of loyalty, care and prudence by...
Surprise DOL Guidance on Conclusion of One-Year ERISA Compliance Relief Period
By Dannae Delano and Barry Salkin Even with widespread bipartisan support, it can be difficult to draft legislation to address all possible contingencies. In the wake of the events of September 11,...
IRS Guidance on Flexible Spending Account Relief Under CAA
The IRS has issued Notice 2021-15 (“Notice”) to provide clarification on the flexible spending account (“FSA”) relief contained in the Consolidated Appropriations Act, 2021 (“CAA”). The Notice also...
Employer Failed to Adequately Notify Participant of Group Life Insurance Conversion Rights
The Ninth Circuit Court of Appeals, in Estate of Foster v. American Marine Servs. Group Benefits Plan, has held that an employer failed to provide a former employee with adequate notice of the...
CMS Creates Additional Marketplace Special Enrollment Period
The Centers for Medicare & Medicaid Services (“CMS”) has determined that the COVID-19 emergency presents exceptional circumstances for consumers in accessing health insurance, and will be...
EEOC Explains Application of ADEA to ICHRAs
On January 7, 2021 the Equal Employment Opportunity Commission (“EEOC”) issued an opinion letter explaining the application of the Age Discrimination in Employment Act (“ADEA”) to individual...
Disclosure to Welfare Plan Participants: A Fiduciary Duty
View Printable PDF Introduction When ERISA was enacted in 1974, its primary focus was on employee pension plans, which is understandable since its enactment was a response to highly publicized...
FAQs Discuss Expiration of Paid Sick and Family Leave Requirements
The Department of Labor has issued additional FAQs regarding the expiration of the requirement that employers provide paid sick and family leave under the Families First Coronavirus Response Act...
Do You Have Questions About How to Comply with the New DOL fiduciary “Investment Advice” Prohibited Transaction Exemption?
By Stephen Wilkes and Susan Rees On December 15, 2020, the Department of Labor (DOL) issued class exemption 2020-02 (the PTE or Exemption) which provides conditional relief to fiduciaries who render...
Does the Recently Amended Investment Duties Regulation Change How Fiduciaries Are Expected to Make Investment Decisions for Employee Benefit Plans?
Introduction The more things change the more they stay the same. Or do they? This question should be on every employee benefit plan fiduciary’s mind after January 12, 2021, when an amended U.S....
DOL’s Proxy Voting Regs Confirm Fiduciaries Need Not Vote on Every Proxy Proposal but Must Limit Voting Decisions to Economic Interests
By Kim Shaw Elliott The Department of Labor (“DOL”) issued final regulations on December 11, 2020 about fiduciary duties for proxy voting, in its attempt to clarify many prior misunderstandings. Key...
EEOC Issues Proposed Regulations on Employer Wellness Programs
The Equal Employment Opportunity Commission (“EEOC”) has issued two sets of proposed regulations that would change certain rules on how employer-sponsored wellness programs that require employees to...
DOL Clarifies Use of Telemedicine for Purposes of FMLA Leave
The Department of Labor (“DOL”) has issued Field Assistance Bulletin (“FAB”) 2020-8 to provide guidance regarding the use of telemedicine in establishing a “serious health condition” under the...
Stimulus Package Makes Major Changes with Respect to Employer Sponsored Benefit Plans
By Dannae Delano, Barry Salkin and Roberta Casper Watson In a year-end piece of legislation intended to fund the federal government, especially one that is 5,593 pages in length, there is always the...
DOL Field Assistance Bulletin for FMLA Electronic Notices
The Department of Labor (“DOL”) has issued Field Assistance Bulletin (“FAB”) 2020-7 to provide guidance on when, as a matter of enforcement policy, it will consider the electronic posting of the...
Benefits Plan Sponsors Face A Tough Year On Compliance
View Printable PDF Given the chaos of 2020, many ushered in the new year with open arms. The pandemic, remote work and changing needs have created unique and novel challenges that have necessarily...
IRS Issues Final Regulations Under Code Section 162(m)
By Barry Salkin and Mark Poerio Section 162(m) of the Internal Revenue Code (“Code”) denies a deduction to a publicly held corporation for remuneration paid to a covered employee in any taxable year...
Arkansas Pharmacy Law Not Preempted by ERISA
In Pharmaceutical Care Management Association v. Rutledge, the U.S. Supreme Court has held that ERISA does not preempt an Arkansas statute that imposes rules on pharmacy benefits managers (“PBMs”)....
Agencies Issue Final Grandfathered Group Health Plan Regulations
The Department of Labor, Department of Health and Human Services, and the IRS (collectively, the “Agencies”) have issued final regulations providing greater flexibility to plan sponsors that wish to...
IRS New Guidance on State Unclaimed Property Laws and IRS Helpful Reminders on Missing Participants
View Printable PDF By Susan Rees and Seth Gaudreau After years of public commentary, the Internal Revenue Service (IRS) addresses, for the first time, whether a plan should withhold income tax when...
IRS Explains “Qualified Health Plan Expenses” for Purposes of FFCRA Tax Credit
The IRS has issued FAQs to help employers determine the amount of “qualified health plan expenses” for purposes of determining their tax credit under the Families First Coronavirus Response Act...
IRS Confirms Options for Unused Qualified Transportation Benefits Due to COVID-19
Facts. The IRS released Information Letter 2020-0024 in response to an inquiry it received from a qualified transportation plan participant with unused transit benefits due to COIVD-19. In...
PEPs Will be Up and Running by January 1, 2021
View Printable PDF On November 16, 2020, the U.S. Department of Labor (DOL) issued a final rule at 85 Federal Register 72934, providing an electronic filing procedure for interested entities to meet...
2021 Medicare Parts A & B Premiums and Deductibles
The Centers for Medicare & Medicaid Services (“CMS”) has announced the deductibles, premiums and coinsurance amounts for Medicare Part A and Part B for 2021. Medicare Part A covers inpatient...
Agencies Issue Final Regulations Regarding Health Care Transparency
By Barry L. Salkin, Roberta Casper Watson, and Dannae Delano Last June, in Executive Order 13877, President Trump directed HHS, Treasury, and Labor (collectively, the “Agencies”) to solicit comments...
Agencies Issue Guidance on Coronavirus Diagnostic Testing and Immunizations
Section 6001 of the Families First Coronavirus Response Act (FFCRA) required group health plans and health insurance issuers to provide coverage for certain items and services including in vitro...
IRS Releases 2021 Welfare Benefit Plan Limits: Health FSA and HSA Limits Increase
The IRS has released Revenue Procedures 2020-45 and 2020-32, which set forth the 2021 inflation-adjusted limits for certain employee welfare benefit plans and the dollar amounts used for certain...
Presidential Memorandum Stirs Long-Simmering Pension Issues
Employee benefits law often involves interaction between Congress, the Executive Branch, and the courts. That calls for an understanding of the politics of law reform and regulation. A recent...
IRS Announces Cost-of-Living Adjustments Affecting Retirement Plans
The Internal Revenue Service announced cost-of-living adjustments affecting certain dollar limitations for pension plans and other retirement-related limitations for 2021 in Notice 2020-79. The...
Courts Decides ACA’s Individual Out-Of-Pocket Limits Do Not Apply Retroactively
The U.S. District Court for the Southern District of New York, in Fisher v. Aetna Life Ins. Co., has upheld its prior determination that a beneficiary was required to meet the ACA’s family...
Courts of Appeal Split on Circumstances Where it is Appropriate to Override the Arbitrary and Capricious Standard of Review
The U.S. Court of Appeals for the Eighth Circuit has ruled, in McIntyre v. Reliance Standard Life, that a claims decision will be judged under the arbitrary and capricious standard despite the fact...
Court Says Third Party Administrator May Be Held Liable for ERISA Fiduciary Breach and Consumer Fraud in Connection With Abbott Plan Data Breach
Another court has decided which ERISA plan fiduciaries can be held liable in connection with a data breach of a plan participant’s account. On October 2, 2020, the Northern District of Illinois, in...
IRS Again Extends Deadline for ALEs to Furnish ACA Reporting Forms to Employees
The IRS has issued Notice 2020-76, which provides an automatic deadline extension for Applicable Large Employers’ (“ALE”) reporting obligations to employees under the Affordable Care Act’s (“ACA”)...
The Wagner Law Group Asks DOL for Cybersecurity Guidance
By Stephen Wilkes and Livia Quan Aber We previously discussed cybersecurity best practices and provided the latest updates on recent ERISA cybertheft lawsuits here and here. With the proliferation...
Plan Participants Must be Informed of Plan Documents and Standards of Review
The Tenth Circuit Court of Appeals has ruled, in Lyn M. v. Premera Blue Cross, that the “arbitrary and capricious” standard cannot be applied to a plan administrator’s denial of a participant’s...
DOL Lifetime Income Disclosure Regulation
By Barry Salkin and Roberta Casper Watson In 2019, the SECURE Act amended Section 105 of ERISA. That section requires participant benefit statements to be distributed to participants and...
Employer May Be Held Liable for Service Provider’s Error
The Second Circuit Court of Appeals, in Sullivan-Mestecky v. Verizon Communications, Inc., has held that a plaintiff properly pled her breach of fiduciary duty claim for equitable relief against an...
DOL Responds to Decision of Southern District of New York Invalidating Four Provisions of the Family First Coronavirus Response Act
By Dannae Delano, Barry Salkin and Roberta Casper Watson On August 3, 2020, the District Court for the Southern District of New York ruled that four parts of the temporary rules adopted by the DOL...
Additional COVID-19 FAQs from the DOL About School Reopenings
The Department of Labor (“DOL”) has issued additional Frequently Asked Questions (“FAQs”) on the administration of Emergency Paid Sick Leave under the Families First Coronavirus Response Act...
IRS Issues Guidance on Qualified Birth or Adoption Distributions
View Printable PDF By Barry Salkin and Livia Quan Aber In 2020, most of the IRS guidance with respect to employee benefit plans has addressed issues arising under the CARES Act, but in recently...
Massachusetts Extends Annual Payroll Tax Exemption for Insured Plans
The Massachusetts Department of Family and Medical Leave has announced that the “annual” payroll tax exemptions received by employers for insured plans under the Paid Family and Medical Leave Law...
Ninth Circuit Rejects Request for Attorney’s Fees in ERISA Administrative Appeal
The Ninth Circuit Court of Appeals has held, in Castillo v. Metropolitan Life Ins. Co., that ERISA does not authorize an award of attorney’s fees incurred during the administrative phase of the...
DOL Issues Proposed Regulations Establishing Registration Requirement for Pooled Plan Providers
By Barry Salkin and Susan Rees One objective of the Setting Every Community Up for Retirement Enhancement (“SECURE”) Act, which was enacted on December 20, 2019, was to expand retirement savings....
IRS and PBGC Provide Guidance on CARES Act Relief for Funding of Single Employer Defined Benefit Plans
By Barry Salkin and Livia Quan Aber One objective of the Coronavirus Aid Relief and Economic Security Act (“CARES Act”) was to provide relief to sponsors of tax-qualified defined benefit plans....
DOL Releases New FMLA Forms
The U.S. Department of Labor (“DOL”) has released updated Family and Medical Leave Act (“FMLA”) forms. Background. Certain posters and forms are required under the FMLA to inform employees of their...
August 31, 2020 IRS Deadlines Approaching
By Jon C. Schultze and Kimberly Shaw Elliott An August 31, 2020, deadline to take advantage of temporary relief provided by the Internal Revenue Service (“IRS”) to (i) individuals, and (ii) sponsors...
Federal District Court Invalidates Portions of the Final DOL Rules Implementing the Paid Leave Provisions of the Family First Coronavirus Response Act (FFCRA)
By Dannae Delano, Barry Salkin and Roberta Casper Watson The federal District Court for the Southern District of New York invalidated parts of the DOL’s final rules implementing the paid leave...
Proposed Changes to DOL Fiduciary Investment Regulation: What You Should Know and How The Wagner Law Group Responded
By Barry Salkin and Stephen Wilkes The Department of Labor (“DOL”) is poised to significantly change its rules on how ERISA plan fiduciaries should evaluate investment opportunities. The employee...
Employees May Choose Between Profit Sharing Plan and HRA Contributions
In Private Letter Ruling 202023001, the IRS has ruled that collectively bargained employees can allocate employer contributions between a profit sharing plan and a health reimbursement arrangement...
IRS Releases ACA Affordability Rates for 2021
The Internal Revenue Service has issued Revenue Procedure 2020-36 to implement the 2021 index adjustments for certain Affordable Care Act (“ACA”) contribution percentages used to determine...
Additional COVID-19 FAQs from the DOL
The Department of Labor (“DOL”) has issued additional Frequently Asked Questions (“FAQs”) on the administration of Emergency Paid Sick Leave (“EPSL”) and Emergency Family and Medical Leave (“EFMLA”)...
Agencies To Provide More Flexibility for Grandfathered Group Health Plans
The Department of Labor, Department of Health and Human Services (“HHS”), and the IRS (collectively, the “Agencies”) have issued proposed regulations that would provide greater flexibility for plan...
The Wagner Law Group Receives IRS Approval of its Defined Contribution Plan
The Wagner Law Group is pleased to announce that we have received IRS approval of our non-standardized defined contribution plan document, further bolstering our firm’s position at the forefront of...
The DOL’s Final Regulations on E-Disclosure of Retirement Plan Documents Become Effective Soon – Are You Ready?
By Livia Q. Aber and Barry Salkin In August 2018, President Trump issued Executive Order 13847, Strengthening Retirement Security in America, one portion of which asked government agencies to...
Multiemployer Plan Withdrawal Liability Assumptions Under Attack
Three recent decisions illustrate the threats facing multiemployer plans as they struggle to collect withdrawal liability while trying to forestall insolvency. We covered those issues here. In...
Plan Sponsor and Service Provider Submit Dueling Motions to Dismiss in Response to Data Breach Suit
Further demonstrating the lack of clarity on who is liable when a plan suffers a data breach, on June 30th, Abbott Laboratories and Alight Solutions, pointed fingers at each other in dueling motions...
COVID-19 Leave and Summer Camp Closures
The Department of Labor (“DOL”) has issued Field Assistance Bulletin No. 2020-4 ("FAB 2020-4") to provide guidance on when an employee may take paid leave under the Families First Coronavirus...
DOL Reinstates Five-Part Fiduciary Status Test and Proposes Class Exemption
By Livia Quan Aber, Barry Salkin and Stephen Wilkes On June 29, 2020, the DOL issued a rulemaking package consisting of a final rule (“Final Rule”) implementing the vacatur of the...
Agencies Issue Further Guidance on COVID-19
The Department of Labor, Department of Health and Human Services, and the IRS (the “Agencies”) have issued Frequently Asked Questions #43 (“FAQs”) regarding implementation of the Families First...
Multiple Employer Plans and Participating Employers Given the Opportunity to Contribute to Guidance Development on Pooled Employer Plans under the SECURE Act
On June 18, 2020, the Department of Labor took the next step toward providing guidance for multiple employer plans (MEPs) by issuing a Request for Information (RFI) seeking public comment on whether...
1557 Rule Changes and Bostock
The Department of Health and Human Services (“HHS”) announced on June 12, 2020, as part of a new final regulation (the “Final Rule”), that it had eliminated Obama-era nondiscrimination rules under...
Massachusetts Announces Individual Mandate Figures for 2021
Although the penalties under the Affordable Care Act’s individual mandate were eliminated in 2017, Massachusetts has continued its own individual health insurance mandate as well as associated...
IRS Issues Guidance on COVID-19 Leave Donation Programs
The IRS has issued Notice 2020-46 to explain the tax consequences of employer-based COVID-19 leave donation programs. Background. The IRS recognized that, in response to the need to provide relief...
ACA Out-of-Pocket Limit and PCORI Fee Announced
HHS and IRS have announced inflation-adjusted out-of-pocket (“OOP”) limits that will apply to non-grandfathered health plans for plan years beginning in 2021, and the indexed PCORI fee. The OOP...
DOL Offers Guidance to Fiduciaries Considering Private Equity Investments in Defined Contribution Plans
By Barry Salkin, Livia Quan Aber and Stephen Wilkes One of the key tasks for fiduciaries of a participant-directed individual account plan is selecting appropriate investment options. Reminding...
IRS Temporarily Eases Witness and Notarization Requirements for Certain Retirement Plan Participant Elections
On June 3, the Internal Revenue Service provided temporary relief from the requirement in IRS regulations that certain participant elections must be witnessed in the physical presence of a plan...
Court Decision Highlights the Dangers of Cybersecurity Breaches for Both Plan Sponsors and Plan Service Providers
On May 27, 2020, the Eastern District of Pennsylvania, in Leventhal v. MandMarblestone Group, LLC, handed down a decision that highlights the dangers facing both plan sponsors and plan service...
DOL and IRS Extend Certain Deadlines for Welfare Plans and Participants
The DOL and IRS have issued COVID-19 related guidance that temporarily extends certain deadlines applicable to welfare plans and their participants and beneficiaries. COVID-19 Related Guidance. In...
Supreme Court Concludes Defined Benefit Pension Plan Participants Do Not Have Standing To Bring Breach of Fiduciary Duty Claim
The Supreme Court has long recognized that one of ERISA's principal purposes was to make “sure that if a worker has been promised a defined pension benefit upon retirement - and if he has fulfilled...
IRS Announces 2021 HSA Limits
The IRS has announced the 2021 calendar year dollar limits for health savings account (“HSA”) contributions, and the minimum deductible amounts and maximum out-of-pocket expenses for high deductible...
IRS Relaxes Rules for Cafeteria Plan Mid-Year Election Changes
The IRS, in Notice 2020-29, has relaxed the mid-year election change rules for cafeteria plans due to the nature of the public health emergency imposed by COVID-19, extended grace and carryover...
DOL Issues Revised COBRA Notices
The Department of Labor (“DOL”) has issued updated versions of its model general notice and model election notice to ensure that qualified beneficiaries better understand the...
Retirement Plan Provisions of CARES Act Updated to Reflect IRS Guidance Issued May 4, 2020
The third COVID-19 Stimulus package has provisions regarding retirement plans, including expanded and penalty-free withdrawal rights, expanded loan rights, extended rights to repay loans and...
Cybersecurity and Retirement Plans: What Plan Sponsors Should Do
Cybersecurity breaches of retirement plan participant accounts have occurred with increasing frequency in recent years. Just this past April, a plan participant filed a complaint alleging...
Federal Agencies Extend Deadlines for COBRA and Health Plan Claims, Appeals, and Special Enrollments
In coordination, the Department of Labor, the Department of Health and Human Services, and the Internal Revenue Service (collectively, the “Agencies”) have extended deadlines for multiple events...
IRS Extends Deadlines for Certain Filings and Actions for Employee Welfare Benefits Plan
The IRS has issued Notice 2020-23 to provide employers, employees and retirement plan service providers with relief from business disruptions from the COVID-19 pandemic. Notice 2020-23 automatically...
The Impact of the Economic Downturn on Retirement Plans
The current volatility in the economy due to the coronavirus pandemic has created various issues for retirement plans that need to be addressed in an expedited and efficient manner. The significant...
Further Guidance from DOL on the Families First Coronavirus Response Act
The Department of Labor (“DOL”) has issued additional FAQs that provide further guidance for employers and employees on the administration of the Emergency Paid Sick Leave (“EPSL”) Act and the...
Agencies Issue FAQs on Group Health Plan COVID-19 Coverage Requirements
HHS, DOL and IRS (the "Agencies") have jointly issued FAQ 42 to provide guidance on the implementation of the COVID-19 coverage requirements of the Families First Coronavirus Response Act ("FFCRA")...
IRS Releases Guidance on Requirements for Employers to Claim EPSL and EFMLA Tax Credits Under FFCRA
The IRS has issued guidance for employers with under 500 employees explaining how to claim a tax credit for emergency paid sick leave ("EPSL") and expanded FMLA ("EFMLA") under the Families First...
ERISA Litigation – Lessons for Today from the Great Recession
Many of us older hands lived through the financial collapse of 2008 and, with any luck, learned a lesson or two from the experience that may come in handy now. When 2008 began, my legal practice was...
DOL Issues Guidance on Emergency Paid Sick Leave and Paid FMLA Under Families First Coronavirus Response Act
The DOL has issued a series of FAQs that provide guidance for employers administering the Emergency Paid Sick Leave ("ESPL") and the Emergency Family and Medical Leave Act ("EFMLA") under the...
Withdrawals and Loans from Defined Contribution Retirement Plans
View Printable PDF In reaction to the current volatility in the economy due to the coronavirus pandemic, we have been receiving a large number of questions from defined contribution plan sponsors...
Retirement Plan Provisions of CARES Act
The third COVID-19 stimulus package has provisions regarding retirement plans, including expanded and penalty-free withdrawal rights, expanded loan rights, extended rights to repay loans and...
The CARES Act: Relief for Small Businesses
On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act, or CARES Act (the “Act”) was passed. The bill is expected to provide relief for eligible small business through a loan...
HDHPs May Pay for COVID-19 Testing and Treatment
The IRS has issued Notice 2020-15 permitting High Deductible Health Plans ("HDHPs") to cover testing and treatment for COVID-19, without affecting the status of a person as an "eligible individual"...
Suspending or Reducing Safe Harbor Contributions in Defined Contribution Retirement Plans
In reaction to the current volatility in the economy due to covid-19, we have been receiving a large number of questions from retirement plan sponsors regarding whether it is permissible to suspend...
Agencies Issue Proposed Rules Regarding Health Care Transparency
By Roberta Casper Watson and Barry Salkin Last June, in Executive Order 13877, President Trump directed HHS, Treasury, and Labor (collectively, the “Agencies”) to solicit comments on how providers,...
Suggested Administrative Practices in Light of Intel Decision – Ensuring “Actual Knowledge”
by Stephen Wilkes and Livia Aber As we discussed in a recent Alert, the Supreme Court's decision in Intel Investment Committee v. Sulyma requires a plaintiff's "actual knowledge" of the fiduciary...