Pension Risk Transfers Continue to Skyrocket in Q1
Pension Risk Transfers Continue to Skyrocket in Q1 - Marcia Wagner, PLANSPONSOR, May 25, 2023 (PDF)
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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 health plans (“HDHPs”) and the health reimbursement account (“HRA”)...
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 conduct for broker-dealers and investment advisers when providing...
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 will receive severance benefits if it reserves the right to do so in...
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 Labor, No. 8:22-cv-00330 (M.D. Fla. Feb. 13, 2023). ASA (along with...
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 documents do not specify these procedures. Law. ERISA authorizes a plan...