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top hat welfare plan


Guest Benefitsrock

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Guest Benefitsrock

If I have a welfare plan that is "top hat" but it doesn't offer deferred compensation, is it subject to the fiduciary duty rules under ERISA?

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Guest laborandemploy2009

I arrived at the conclusion that yes, a welfare plan benefiting only top executive empees must comply with ERISA fiduciary rules. If it is unfunded/insured- it is exempted from annual reporting requirements per 29 CFR 2520.104-24.

The plan I am dealing with does not provide medical benefits- rather disabilty income only. Watch out for PPACA if your plan covers medical benefits.

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