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Text of DOL Statement of Enforcement Policy Regarding Return of Excess Special Financial Assistance Payments
Employee Benefits Security Administration [EBSA], U.S. Department of Labor [DOL] Link to more items from this source
[Official Guidance]
Mar. 18, 2024

"The Department confirms ... that these provisions [of ERISA] do not prevent plans from refunding any excess payments received through the SFA Program, or excuse any failures to return SFA funds to which the plans are not entitled. The excess payments would not have been made to the plans absent the inaccurate census data, and the excess payments gave rise to an equal and offsetting liability owed by the plans to the United States government. These excess payments can and must be repaid ... The [DOL] has confirmed its understanding with the Department of the Treasury and the [IRS]."

Tags: Multiemployer Plans  •  Retirement Plan Administration

AT&T Sued Over 2023 Pension Risk Transfer
October Three Consulting Link to more items from this source
Mar. 18, 2024

"The lawsuit represents the first major challenge to a risk transfer of defined benefit plan obligations to a 'private equity-backed' insurer. It alleges that, in selecting Athene for this risk transfer, defendants breached their ERISA fiduciary duties of loyalty and prudence and, under [DOL] Interpretive Bulletin 95-1, their obligation to select the 'safest available annuity.' " [Piercy v. AT&T Inc., No. 24-10608 (D. Mass. complaint filed Mar. 11, 2024)]

Tags: Fiduciary Duties  •  Funding of DB Plans

Regulators Use 'Carrots and Sticks' to Incentivize Healthcare Sector Cybersecurity Compliance
Health Law Advisor, Epstein Becker Green Link to more items from this source
[Guidance Overview]
Mar. 18, 2024

"In light of ... growing threats and potential disruptive impacts on the healthcare industry, HHS' 2024 agenda continues to encourage compliance with cybersecurity and privacy regulations through a variety of mechanisms. As of the first quarter of 2024, specific efforts include issuance of updated guidance from HHS and the National Institute of Standards and Technology (NIST), changes to existing regulations, and leveraging investigatory and enforcement authorities."

Tags: Cybersecurity  •  Health Plan Administration

California Labor Enforcement Agency Clarifies Sick Leave Rule
CDF Labor Law LLP Link to more items from this source
[Guidance Overview]
Mar. 18, 2024

"[An] employer that uses a 30:1 ratio for a part-time employee is in compliance with California's new PSL law, even if the employee does not earn 24 hours of PSL by the 120th day of employment/120th day of the year or 12-month period, or 40 hours of PSL by the 200th day."

Tags: FMLA and Other Leave  •  Local Regulation

Cornell University Employees Ask SCOTUS to Address Circuit Split for Retirement Plan Pleadings and Proof
HR Dive Link to more items from this source
Mar. 18, 2024

"The case ... involves an alleged circuit split. The 2nd, 3rd, 7th and 10th U.S. Circuit Courts of Appeal have found that ERISA requires plaintiffs to 'plead and prove additional elements and facts not contained' in the law's text, according to the employees, who said that the 8th and 9th Circuits have not found that the law makes such requirements." [Cunningham v. Cornell Univ., No. 21-0088 (2d Cir. Nov. 14, 2023; cert. pet. filed Mar. 13, 2024)]

Tags: Fiduciary Duties

Association of BellTel Retirees Points to Red Flags in Verizon PRT Deal
PLANSPONSOR; free registration may be required Link to more items from this source
Mar. 18, 2024

"In response to last week's announcement that Verizon Communications Inc. completed a $5.9 billion pension risk transfer to Prudential Insurance Co. and RGA Reinsurance Co., leaders of the Association of BellTel Retirees are calling for renewed protection of Verizon retirees' pension assets."

Tags: Fiduciary Duties  •  Funding of DB Plans

Illinois Paid Leave for All Workers (PDF)
Mercer Link to more items from this source
[Guidance Overview]
Mar. 18, 2024

14 presentation slides. Topics include: [1] Accrual, use and preemption of local laws; [2] Covered employees; [3] Denying a request to use paid leave under PLAWA; [4] Payout, reinstatement, transfer; [5] Employer policies; [6] Other employer responsibilities.

Tags: FMLA and Other Leave  •  Local Regulation

Eleventh Circuit Ruling on FMLA Retaliation Standard a Win for Employers
Epstein Becker Green Link to more items from this source
Mar. 18, 2024

"The correct causation standard for retaliation claims has long been a topic of debate among the circuits. The Eleventh Circuit's holding that the heightened 'but-for' standard applies is a win for employers, as it is much more difficult for an employee to prove an employer would not have taken adverse action against them but for their protected activity, than to prove retaliatory animus merely contributed to the employer's decision to take adverse action against the employee." [Lapham v. Walgreen Co., No. 21-10491 (11th Cir. Dec. 13, 2023)]

Tags: FMLA and Other Leave

A Cybersecurity Checklist for Employers: Safeguarding Your Company's 401(k) (PDF)
Mayflower Advisors Link to more items from this source
Mar. 18, 2024

"The [DOL] has issued recommendations to aid employers in securing their plans. By adopting these guidelines and integrating cybersecurity best practices, you can significantly reduce the risk of data breaches, cyber fraud, and theft."

Tags: Cybersecurity  •  Retirement Plan Administration

Competitive Pension Risk Transfer Costs Increase from 101.8% to 102.1% in February
Milliman Link to more items from this source
Mar. 18, 2024

"During February, the estimated cost to transfer retiree pension risk to an insurer in a competitive bidding process increased from 101.8% of a plan's accounting liabilities (accumulated benefit obligation, or ABO) to 102.1% of those liabilities. That means the estimated retiree PRT cost is now 102.1% of a plan's ABO."

Tags: Funding of DB Plans

Healthy Habits for Health Plan Fiduciaries
Faegre Drinker Link to more items from this source
Mar. 18, 2024

"[1] Identify the fiduciary who is responsible for health plan administration.... [2] Make sure all plan documentation (plan, SPD, communications, committee charter if applicable, etc.) is regularly updated.... [3] Identify the responsibilities of the health plan fiduciary.... [4] Train the health plan fiduciary on [these] responsibilities and on the litigation risks.... [5] Document the training and the processes and monitoring[.]"

Tags: Fiduciary Duties  •  Health Plan Administration

Manage Health Plan HIPAA, ERISA and Other Exposures from Change Healthcare Ransomware Attack
Solutions Law Press Link to more items from this source
Mar. 18, 2024

"While UHG works to remediate and restore the operability and security of the Choice Health tools and systems, health plans, and insurers, their fiduciaries, plan sponsors, and fiduciaries should take timely and prudent steps in response to the breach and resulting disruptions to mitigate the exposure of their health plans, and themselves under HIPAA and ERISA."

Tags: Cybersecurity  •  HIPAA

Roth Conversions: Convert Everything at Once or as You Go?
Kiplinger Link to more items from this source
Mar. 18, 2024

"All things being equal, the math suggests that it may be better to convert a portion of your IRA assets into Roth assets until a certain point and then maintain a lower-than-anticipated tax bracket for the rest of your life."

Tags: Misc. Distribution Issues  •  Retirement Plan Information for Employees

1974-2024: Celebrating 50 Years of Protected Retirement Plans
U.S. Bureau of Labor Statistics [BLS] Link to more items from this source
Mar. 18, 2024

"Although the first private pension plan in the United States was established in 1875, it wasn’t until 1974 that a law was enacted to set minimum standards for pensions ... While federal, state, and local laws do not require establishments to provide retirement benefits, ERISA established standards in case they do. This Spotlight on Statistics highlights recent data on retired persons and retirement benefits for private industry workers."

Tags: Retirement Plan Administration  •  Retirement Plan Design  •  Social Security

Marketplace Enrollee Demographics, Plan Generosity, and Plan Premiums in HealthCare.gov States, 2015-2022 (PDF)
Assistant Secretary for Planning and Evaluation [ASPE], U.S. Department of Health and Human Services [HHS] Link to more items from this source
Mar. 18, 2024

19 pages. "[F]rom 2015 to 2022, Marketplace enrollees in HealthCare.gov states selected silver plans with cost sharing reductions as their most common Marketplace plan selection, but the number of enrollees selecting bronze plans increased the most compared to plan selections in other metal levels."

Tags: Health Plan Design

If Litigated, There May Be No Winners in Child Mental Health Treatment Disputes
Bob Blum Mediation, via Los Angeles & San Francisco Daily Journal Link to more items from this source
[Opinion]
Mar. 18, 2024

"Two recent cases from the Tenth Circuit dealt ... how to treat severe mental health issues of children and how decisions are made about their treatment.... These cases should not have been litigated. Through mediation, there should have been ways to develop compromises that would protect the key needs of the children, parents, and insurance companies. One possibility would have been to create more balance in the decision process, including in that process physicians responsive to the needs of each party."

Tags: Health Plan Administration  •  Health Plan Design

Plan Advisors: Help Plan Sponsors in Fiduciary Litigation While Protecting Yourself
American Retirement Association [ARA] Link to more items from this source
Mar. 18, 2024

"Defending against fiduciary breach and related claims is time-consuming and expensive not only for the plan sponsor defendants but also for the plan's service providers. Chief among these providers is a plan's investment advisor, which likely will play a central role in the defending against the plaintiff's claims. This article explores what 3(21), or nondiscretionary, investment advisors can expect when their plan sponsor clients are sued, as well as what they can do to protect themselves and their clients and limit the cost and disruption of fiduciary litigation."

Tags: Fiduciary Duties  •  Retirement Plan Investments

District Court Grants Preliminary Injunction Against Illinois Equivalent Benefits Law for Temporary Workers
Littler Link to more items from this source
Mar. 18, 2024

"The court held that the Act conflicted with ERISA by requiring agencies to make judgment calls about eligibility and benefit levels on an individualized and continual basis.... [T]he court did not enjoin, nor did plaintiffs seek to enjoin, provisions of the amendments providing for equal pay to temporary laborers who work for more than 90 days in a 12-month period for the same third-party client." [Staffing Servs. Ass'n. of Ill. v. Flanagan, No. 23-16208 (N.D. Ill. Mar. 11, 2024)]

Tags: Health Plan Design  •  Local Regulation

Congress Has the Opportunity to Deliver Health Care Price Transparency
Health Affairs Forefront Link to more items from this source
[Opinion]
Mar. 18, 2024

"[With] positive momentum from policy makers in both chambers of Congress and on both sides of the aisle, the likelihood of a final price transparency bill getting passed and signed into law seems high. [Two current] proposals include many of the same provisions but differ in other ways. So, what would these price transparency provisions do? Which provisions could have the most significant impact on the cost of health care for consumers and employers? And what more still needs to be done to fully achieve the cost-containment objectives of requiring price transparency in health care?"

Tags: Health Plan Costs  •  Health Plan Policy

CAHC Response to House Committee on Education and the Workforce RFI on Strengthening ERISA (PDF)
Council for Affordable Health Coverage [CAHC] Link to more items from this source
[Opinion]
Mar. 18, 2024

"CAHC believes Congress should instead strengthen ERISA by [1] expanding options for employers and their employees; [2] providing financial incentives to ensure employer coverage remains viable; and [3] enacting policies to lower the cost of health services and drugs to reduce premiums and out-of-pocket costs."

Tags: Health Plan Policy

SEC Pay Versus Performance Updates
Seyfarth Link to more items from this source
[Guidance Overview]
Mar. 18, 2024

"The PVP disclosure rules require public reporting companies to disclose (for fiscal years ending on or after December 16, 2022) the relationship between executive compensation actually paid and the companies' financial performance. To assist companies in navigating these rules, the SEC has issued a series of CD&Is. This blog post summarizes the most recently issued/updated PVP CD&Is published by the SEC on November 21, 2023."

Tags: Executive comp

Illinois Day and Temporary Labor Services Act Equivalent-Benefits Provision Enjoined
Jackson Lewis P.C. Link to more items from this source
Mar. 18, 2024

"[A]lthough the court's decision enjoins the requirement to provide 'equivalent benefits,' temporary laborers who are assigned to a third-party client for more than 90 days after April 1, 2024, will be entitled to receive the same rate of pay as a comparable directly hired employee." [Staffing Servs. Ass'n. of Ill. v. Flanagan, No. 23-16208 (N.D. Ill. Mar. 11, 2024)]

Tags: Health Plan Design  •  Local Regulation

Coalition Letter to House Education and Workforce Supporting E-Delivery as a Means of Strengthening ERISA (PDF)
20 Industry Organizations Representing Organized Labor, Employers, Health and Welfare Plans, Benefits Administrators, and Environmental Advocates Link to more items from this source
[Opinion]
Mar. 18, 2024

"[The authors] appreciate the Committee's ongoing engagement with the Tri-Agencies to prioritize rulemaking that would enable ERISA health and welfare plans to use electronic delivery (e-delivery) as a default means for providing plan communications. This important step would create consistency and alignment in a manner similar to the 2020 E-Delivery Safe Harbor for Employee Pension Benefit Plans."

Tags: Health Plan Administration

PACT Letter to Congress: Recommendations to Improve and Modernize Mental Health Care (PDF)
Protecting Americans’ Coverage Together (PACT), Link to more items from this source
[Opinion]
Mar. 18, 2024

"While employers have made significant progress responding to the mental health challenges faced by their workforce, Congress and the Administration should take meaningful steps to break down obstacles that are critical to enhancing mental health services across the nation. Through expanding access to telehealth, strengthening the provider workforce, and better integrating care, ... barriers to quality care will be reduced, patient outcomes will be better, and costs will be lowered."

Tags: Health Plan Design  •  Health Plan Policy  •  Teleheath

Editor's Pick AT&T and Lockheed Martin Face Class Actions Over Pension Risk Transfers to Athene
Thompson Hine Link to more items from this source
Mar. 15, 2024

"The lawsuits come at a time when plan sponsors, due to a range of factors including the relatively favorable interest rate environment, have an increased interest in de-risking activities ... [T]he industry awaits an overdue report from the [DOL] to Congress on existing guidance on fiduciary duties under [ERISA] when selecting an annuity provider that may preview changes to that guidance.... [T]he outcome of these cases and the report to Congress could have far-reaching implications for sponsors and plan fiduciaries engaging in PRTs." [Piercy v. AT&T Inc., No. 24-10608 (D. Mass. complaint filed Mar. 11, 2024); Konya et al. v. Lockheed Martin Corp., No. 24-0750 (D. Md. complaint filed Mar. 13, 2024)]

Tags: Fiduciary Duties  •  Funding of DB Plans

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