News Archive

"With a deadline ticking, the [DOL] has submitted for review a proposed rule that would clarify its position on alternative assets and the appropriate fiduciary process. The DOL submitted the proposal to the White House's Office of Information and Regulatory Affairs on Jan. 13.... [OMB] typically has up to 90 days to review rules; however, that period could be shorter. With the 180-day deadline ticking, it seems possible that the OMB will move quickly in its review."  MORE >>

Jan. 14 meeting. "The Board will consider whether to add a project to its technical agenda to address the discount rate used to measure the projected benefit obligation under Topic 715, Compensation -- Retirement Benefits, for market-return cash balance plans. The Emerging Issues Task Force (EITF) discussed this issue and developed recommendations."  MORE >>

"Revenue Ruling 2025-4 gives employers long-awaited guidance on the federal tax treatment of contributions and benefits mandated by state paid family and medical leave (PFML) laws.... In December 2025, IRS issued Notice 2026-6 extending much of the transitional relief provided in Rev. Rul. 2025-4 through the 2026 tax year. IRS issued the notice in response to several states needing more time to change systems and budgets, as well as related reporting responsibilities. "  MORE >>

"This decision reinforces that ERISA fiduciaries may face liability not only for misleading statements, but also for silence, where they possess specific knowledge that a participant is terminally ill or permanently disabled and at risk of losing valuable coverage. While routine, accurate plan communications may satisfy ERISA's baseline disclosure requirements, they may be insufficient in 'special circumstances' requiring affirmative disclosure of critical benefit protections." [Atkins v. Prudential Ins. Co. of Am., No. 25-2912 (N.D. Ga. Jan. 12, 2026)]  MORE >>

"[T]he court held that the committee satisfied its fiduciary obligations in selecting and retaining Russell and granted summary judgment in the committee's favor. By contrast, the court found that genuine issues of material fact remained as to whether Russell, acting as a 3(38) investment manager, breached its fiduciary duties by favoring its proprietary funds. As a result, Russell is left defending against the claims." [Wanek v. Russell Investments Trust Co., No. 21-0961 (D. Nev. Sep. 25, 2025)]  MORE >>

"[1] Speak in plain language ... [2] Focus on financial wellness ... [3] Make enrollment simple ... [4] Personalize education and support ... [5] Use technology to connect ... [6] Provide educational resources."  MORE >>

"The lawsuits are not limited to employers. The complaints further contend that the brokers themselves are functional fiduciaries under ERISA because they exercise discretion in recommending, implementing, and managing the voluntary benefit plans -- and then violated their fiduciary duties by steering plans toward arrangements that allowed the brokers to pay themselves excessive commissions. Because these commissions were paid entirely out of the premiums for the voluntary benefits (which were 100% paid by employees), the complaints allege that plan assets were impermissibly used and the value of the benefits were diminished."  MORE >>

"Plaintiffs' firms have recently advanced a new theory: that employers breach their fiduciary duties by offering health insurance options so expensive relative to other options as to provide no reasonable value.... Plaintiffs attempt to analogize it to fiduciary obligations in 401(k) plan menu design, arguing that just as fiduciaries must monitor investment options, they must also ensure that health plan options are balanced and non-duplicative."  MORE >>

"PSCA asked about the student loan match ... in Jan. 2025.... 2.6% answered that they had implemented the feature or definitely would, and 74.7% responded that they will not be adding the feature at all. ... [R]espondents answered that they didn't want to deal with the admin, they didn't have a match, or they didn't have a sizeable employee population with student loans."  MORE >>

"51% have either stopped or reduced their retirement savings in the past six months due to the current economic environment. 59% are prioritizing saving for healthcare expenses over other financial goals due to anticipated premium hikes."  MORE >>

"[H]ealth insurance companies are only required to report denial data for plans purchased through healthcare.gov. A CBS News analysis of about 1.3 billion federal health insurance claims across three years shows that, in 2024, insurers denied 19% of in-network claims -- about 1 in 5."  MORE >>

"A strong employee advocacy program can help plan participants navigate a high medical bill and work to ensure that a participant only pays what they should.... Advocates can 'pre-educate' employees on what care is covered and which facilities will take their insurance."  MORE >>

"[1] Retirement plans now create risk for employers and advisors.... [2] Employee financial wellbeing plays a larger role in retirement plan participation.... [3] Benefits decisions are increasingly interdependent."  MORE >>

"For ISO exercises and ESPP transfers occurring in the 2024 calendar year, employers should file Copy A of the applicable forms with the IRS no later than February 28, 2025, for paper filers (March 31, 2025, for electronic filers). Copy B of the forms should be distributed to affected individuals no later than January 31, 2025."  MORE >>

"40% of organizations expect to increase their investment in third-party outsourcing.... 57% of companies outsource HR processes and 54% outsource finance tasks.... 67% have adopted outcome-based models that focus on results, while the share citing cost reduction as the primary driver has dropped to just 34%. So, what compensation and benefits processes make sense to outsource, and how do you explore this kind of partnership?"  MORE >>

"Recently finalized rules from the United States Postal Service seek to clarify that the date on a postmark does not 'necessarily represent either the place at which, or the date on which, the Postal Service first accepted possession of the mailpiece' ... [T]axpayers filing tax returns and other tax documents by traditional first-class mail, and to which a filing deadline applies, should adjust by mailing the document earlier, requesting and obtaining a manual postmark at a retail counter at the time of mailing, and/or obtaining a certificate of mailing at such time. Failing to do so runs the risk that a return, payment, or other document that is timely turned over to USPS will be postmarked after the filing or due date, with associated and sometimes significant financial consequences. "  MORE >>

Rev. Dec. 2025. For excise taxes under sections 4965, 4971, 4972, 4973(a)(3), 4975, 4976, 4977, 4978, 4979, 4979A, 4980, and 4980F of the Internal Revenue Code.   MORE >>

"This notice provides the percentage increase for calculating the qualifying payment amounts (QPAs) for items and services furnished during 2026 for purposes of ... the Internal Revenue Code ... [ERISA], and ... the Public Health Service Act.... The QPA serves as the basis for calculating patient cost sharing for items or services subject to the surprise billing provisions of the No Surprises Act in certain circumstances. The QPA is also one of the factors considered by a certified independent dispute resolution (IDR) entity to determine which of two offers submitted by parties to a payment dispute in the Federal IDR process best represents the value of a qualified IDR item or service as the out-of-network rate." [BenefitsLink note:  This Notice was issued shortly after the government shutdown ended in Nov. 2025, and was not publicized by IRS.  Thanks to readers at Evernorth for bringing it to our attention.]  MORE >>

"[The judge] held that the plaintiffs lacked standing, since they did not show “substantial risk of imminent harm” as a result of the pension risk transfer. In addition, [he] wrote that the plaintiffs failed to plausibly allege breaches of fiduciary duty or prohibited transactions under ERISA" [Dempsey v. Verizon Comm. Inc., No. 24-10004 (S.D.N.Y. Jan. 8, 2026)]   MORE >>

"Since the first quarter of 2024, 10 plan sponsors (along with named and independent fiduciaries) have been sued in 13 putative class actions challenging pension risk transfers (PRTs),... Notwithstanding that 2025 brought significant activity in the PRT market, only one of the 13 class actions ... was filed during 2025. It could be that plaintiffs' firms are waiting to see whether the initial claims are successful, at least in getting past motions to dismiss, and so far, the answer is trending more 'no' than 'yes'."  MORE >>

"Understanding different types of benefits administration reports can help strengthen your benefits strategy. This blog covers ... [1] Seven benefits reports to consider, including plan enrollment, engagement and chronic condition management. [2] The data points to track for each report. [3] Understanding the purpose of each benefits report and how to use the data for plan optimization. [4] Why it's important to make data-driven benefits decisions."  MORE >>

"In Spence, the court held, at the district court level, that ERISA fiduciaries must keep their decision-making aligned strictly with pecuniary interests. The opinion suggests that even passive, quiet acceptance of ESG activism can, in the court's view, disrupt that required rhythm. According to the court's reasoning, silence in the face of investment manager activism itself may create exposure to a breach of the duty of loyalty." [Spence v. Am. Airlines, Inc., No. 23-0552 (N.D. Tex. Sep. 30, 2025)]  MORE >>

33 pages; rev. Jan. 2026. "What's new for 2025: Catch-up contributions.... What's new for 2026: [1] Retirement savings contributions credit.... [2] Limit on elective deferrals.... [3] Limit on annual additions."  MORE >>

68 pages. "What's New: [1] Changes to 'coverage month' definition for PTC/ APTC.... [2] Reporting entities no longer required to send minimum essential coverage (MEC) forms automatically."  MORE >>

"For those using GLP-1s to manage diabetes, medical cost growth was six percentage points lower than non-users at 30 months and nine percentage points lower for those with at least 80 percent adherence.... [F]emale GLP-1 users experienced approximately a 50 percent lower incidence of ovarian cancer and about a 14 percent lower incidence of breast cancer compared to female non-users over the study period.... The reduction in [major adverse cardiovascular events] for female users reached 47 percent, compared to 26 percent for male users, highlighting an even stronger cardiovascular benefit for women."  MORE >>