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U.S. Fiduciary Rule Implications of Australian Hayne Commission

"Australia’s experience shows that lifting fiduciary standards actually can result in an increase in the levels of advice delivered to consumers, as eliminating low-quality advisors and reducing the level of conflicted advice leads to an increase in trust that ultimately creates more opportunity for financial advisors to survive and thrive."  MORE >>

Benefits: A Boon for Employers

"To feel confident you're offering the best financial benefits for a wide range of employees, start by asking them about the financial obstacles they're currently facing and how they would rate their own financial health or financial confidence.... Do the benefits you offer today align with what your employees need? Are you offering a variety of benefits for different demographic groups? Where are the gaps between your current benefits and the things employees are asking for?"  MORE >>

Benefits: A Boon for Employers

"80 percent of job seekers believe their companies need to reevaluate the benefits they offer. Sixty-seven percent of job seekers surveyed indicated benefits are more important to them now than before the pandemic, and 54 percent would consider taking a lower-paying job with a better benefits package."  MORE >>

Mega-IRAs: Boon or Bane?

"The IRS should have the resources to challenge the tax exemption of any Mega-IRAs appearing to violate the current law.... There should also be statutory changes to direct tax incentives not at Mega-IRAs and their owners, but at improving the retirement readiness of American working families. This was why traditional and Roth IRAs were introduced and why they are called individual retirement accounts. [Specific] changes would help achieve this goal[.]"  MORE >>

Integrated Healthcare a Boon for Employees and Employers

"[Integrated healthcare is] a global trend that has also been referred to as 'coordinated care' or 'comprehensive care.' But in practice, it means associating disciplines that have traditionally been kept apart in healthcare delivery silos, such as primary medical care (e.g. your family doctor), behavioral health, substance abuse and more.... Businesses embracing the integrated healthcare approach are seeing a healthier, more stable workforce with fewer absences and a team of employees who are engaged, productive and stay in their jobs longer."  MORE >>

Auto-Portability: Default IRA Boon or Bust?

"Auto-portability is a clever concept. But ... what's to prevent misinformed or fraudulent efforts, especially on account balances under $5,000, that many plan sponsors would prefer to get off their books? Furthermore, one has to wonder by what authority is either side entitled to carry on such a search, and whether there might be some fiduciary concerns -- such as the sharing of confidential social security numbers. And what if the participant is enrolled in a non-401(k) plan where individualized records are recorded differently, or a 401(k) plan that does not offer investment choices to its participants?"  MORE >>

Narrow Networks: Boon or Bane?

"Narrow networks mean that some newly insured people are no longer covered for visits to previous providers, or, if they didn't have a doctor before, are limited in their new choices.... Welcome to the world of competition in health care, because that is what narrow networks are about. Narrow networks are used by competing plans to control health care costs, and perhaps improve quality as well. In fact, if you don't like narrow networks, you're saying, in effect, that you don't like competitive solutions ... to our health system's problems."

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Competition in Medicare Programs: Boon or Boondoggle?

"[Recent research] found that competing ... Medicare Advantage plans did not save money. In fact, since their introduction, the private (mostly for-profit) insurance programs have cost taxpayers an extra $282.6 billion.... Medicare currently pays these privately run plans a set premium per enrollee (about $10,123). This amount is $2,526 more than the premium paid for enrollees covered under the standard Medicare plan. About 27 percent of Medicare beneficiaries are currently covered under Medicare Advantage plans."  MORE >>

Pension Risk Transfers: A Boon for Insurers?

"[P]ension risk transfer agreements will be cropping up everywhere as companies shut down defined-benefit plans and offload risk of existing plans to insurance companies who are going to make a killing off these agreements as rates rise and pension assets soar. They pay a low rate on annuities and are going to make a huge spread. It's money in the bank for insurance companies which is why top funds have been loading up on their shares over the past year."

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Market Regulation: Boon or Bane to 401(k) Plan Sponsors and Investors?

What does [a] short history lesson teach us about regulation and its impact on the account balances of 401k investors? First, not all regulation is bad.  MORE >>

DOL's New Performance Reporting Requirements: A Boon or a Risk to the 401(k) Fiduciary?

"In the Model Comparative Chart for its new 401k disclosure rule, the DOL broke its sample Model Comparative Chart into two parts. This article will focus on the first part-- Performance Reporting-- specifically, [its] suggested layout for Table 1. As we demonstrate the use of Table 1 via the top ten most widely held mutual funds in 401k plans as identified by BrightScope, some apparent issues immediately pop out. The 401k fiduciary just might find these new disclosure rules could increase fiduciary liability as we'll explain."  MORE >>

Delayed Retirements Are Boon and Bane for Firms

Excerpt: In a recent survey of more than 2,200 U.S. workers by consulting firm Watson Wyatt Worldwide, 44% of respondents age 50 or older said they plan to postpone retirement; half of those say they plan to work at least three years longer than previously expected. That has added pressure on companies struggling to reduce payroll as profit dwindles. It also threatens to clog the pipeline for companies that want to bring in new blood.... But it has turned out to be good news for employers who are unprepared for mass retirements among baby boomers, the 78 million Americans born between 1946 and 1964.  MORE >>

Senate Committee Hearing: 'Boon or Bane? Examining the Value of Long-Term Care Insurance'

Includes written testimony and recorded video of the hearing.

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Are Work-Life Programs a Boon for the Bottom-Line

Excerpt: While programs offering work-life flexibility for employees have been a staple of public accounting firms' recruiting and retention efforts, other companies could learn from their example -- and not just to shore up their staff. The bottom line may benefit, too.

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Universal Health Care Would Be a Boon to the Free Market

Excerpt: Americans were taken in by health insurance industry foils Harry and Louise the first time Clinton offered this country decent health care reform, but they won't be fooled again. If Giuliani wants to make this election a referendum on America's health care system, he's going to flame out faster than a hospital can dump an uninsured patient.  MORE >>

More DC Area Firms Paying Employees to Relax: Yoga and Meditation Seen As Health Care Boons

Excerpt: Having a company softball team used to be a good way to get employees to blow off steam and to build morale. But today, companies are just as likely to encourage workers to hit a yoga mat as they are the outfield.

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Employers: Your Benefit Claim Denial Letters Must Comply with ERISA

"Benefit claim denial notices must meet detailed regulatory requirements. An employer that is the responsible fiduciary under a group health plan is responsible, and potentially liable, for a deficient claim denial communication – even if the communication is issued by a TPA." [Doe v. Deloitte LLP Grp. Ins. Plan, No. 23-4743 (S.D.N.Y. Feb. 24, 2025)]   MORE >>

Self-Funded ERISA Health Plans May Opt Into New Law Regarding Out-of-Network Service Providers

"The NJ Act [provides for]: [1] A limitation on payments by a patient who receives emergency/urgent care services, or inadvertent out-of-network services, to the in-network cost-sharing for such services (whereby the remaining provider fees may be billed to the health benefit plan); [2] Certain binding arbitration procedures ... [3] Automatic assignment to the healthcare provider of any benefits payable by the patient's health benefit plan for emergency/urgent care services or inadvertent out-of-network services; [4] A prohibition on the waiver or rebate by an out-of-network healthcare provider of any deductible, copayment, or coinsurance owed by the patient under the terms of his health benefit plan as an inducement for such patient to seek healthcare services from that provider."

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IRS Issues Guidance on Qualified Long-Term Care Distributions from Retirement Plans

"[U]nlike certain other SECURE 2.0 permitted distribution, QLTCDs are not eligible for the extended three-year repayment period and are subject to several reporting and disclosure requirements, including a long-term care premium statement that must be filed with the plan by the insurance issuer. For plan sponsors that do choose to offer QLTCDs, [Notice 2026-33] provides relief by extending the amendment deadline."  MORE >>

Eighth Circuit Affirms Dismissal of Plan Forfeitures Claim for Lack of Standing

"While the result is favorable for plan sponsors, potential plaintiffs may attempt to cure the standing deficiency by alleging a particularized individual injury in future complaints.... In the meantime, plan sponsors should continue to review their plan documents to confirm that the plan authorizes the use of forfeitures for employer contributions, ensure that any ordering rules or administrative procedures set forth in the plan document are followed, and consider whether plan-level expenses could give rise to potential individualized harm arguments." [Matula v. Wells Fargo & Co., No. 25-2441 (8th Cir. May 12, 2026)]  MORE >>