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The U.S. District Court for the District of Massachusetts, in Shea v. Unum Life Ins. Co, has ruled that a claims processor is not an ERISA fiduciary because it does not have discretionary powers over the plan. Law. In general, a fiduciary includes any individual or...
The 2024 Election already portends transformative consequences for federal agencies, some of which may extend to executive compensation. Among the possible impacts, agency staffing levels are in doubt, leading to possible challenges regarding exemptions, enforcement...
Exempt or not exempt, that is the question. It is not an easy question to answer, and it did not get any easier to answer when U.S. District Judge Sean D. Jordan vacated the Department of Labor (“DOL”) rule on overtime compensation (“Overtime Rule”) on November 15,...
TradePMR Sale to Robinhood Sends Ripples Through the RIA Industry - Ari Sonneberg, RIABiz, November 19, 2024 (PDF)
The Trump election is bound to have some obvious, fundamental and high-profile consequences for various federal agencies. One particular potential area of impact relates to the recently adopted Retirement Security Rule under ERISA (i.e., the Employee Retirement Income...
Capital One Faces Latest 401(k) Forfeiture Lawsuit - Michael Schloss, PLANSPONSOR, November 18, 2024 (PDF)
Maine Human Resource Law Boot Camp - Katherine Brustowicz, presenter, NBI webinar, November 18, 2024 - Click here for details
In 2021, Congress enacted the Corporate Transparency Act (“CTA”), creating a new beneficial ownership reporting requirement. The purpose of the CTA was to make it more difficult for bad actors to hide ill-gotten gains through shell companies and opaque corporate...
Current State of Retirement Plan Forfeiture Litigation Subject of Wagner Law Update - Michael Schloss, 401k Specialist, November 14, 2024 (PDF)
The Department of Labor’s (“DOL’s”) Wage and Hour Division has issued Advisory Opinion FMLA 2024-01-A, which provides that an employee may use leave under the Family and Medical Leave Act (“FMLA”) for the treatment of a serious health condition even when this...