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 long-term disability (“LTD”) benefits, it must examine the administrative...
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ERISA & Employee Benefits
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 of the Employee Benefit Security Administration (“EBSA”) of the...
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 available here
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. Background. The PCORI was established under the Affordable Care Act to...
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 encourage plan fiduciaries to voluntarily correct certain fiduciary breaches...
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 High Deductible Health Plans. That authorization expired December 31,...
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 plan document. Indeed, requesting a favorable plan determination was...