News Archive

"By December 31, 2026, plan sponsors of certain qualified retirement plans, including 401(k) and defined benefit plans, must amend the plans to incorporate required and discretionary changes under the [CARES] Act, the Setting Every Community Up for Retirement Enhancement (SECURE) Act, and the SECURE 2.0 Act of 2022."  MORE >>

"the Fourth Circuit reversed a district court's class certification order in an ERISA fiduciary-breach lawsuit involving a defined contribution retirement plan. The court held that claims brought under ERISA Section 502(a)(2) seeking recovery for investment losses in participants' individual accounts constitute individualized monetary claims and therefore cannot be certified as mandatory classes under Federal Rule of Civil Procedure 23(b)(1)." [Trauernicht v. Genworth Fin. Inc., No. 24-1880 (4th Cir. Mar. 10, 2026)]  MORE >>

"USERRA gives continuation rights to employees who [1] have health plan coverage in connection with their employment; and [2] are absent from employment for service in the uniformed services. But your former employee will not be entitled to USERRA coverage under your plan because he was not employed by your company when he was called to active duty -- his uniformed service did not cause him to be absent from employment with your company."  MORE >>

"How do we know if our plan is still competitive for attracting and retaining the right employees? ... How do we know if plan fees are reasonable? ... Are our investment options appropriate for our employee population? ... Are we meeting all of our fiduciary responsibilities? ... We want better participation, where do we start? ... Is it time to review or change our retirement service providers? ... What should we do next?"  MORE >>

"Target-date strategies have grown into one of the largest segments of the US retirement market.... Although the category has expanded rapidly, the market remains highly concentrated among a small group of asset managers. The five largest providers control roughly 80% of all target-date assets, underscoring the dominance of established firms in employer-sponsored retirement plans."  MORE >>

"The amended Healthy Terminals Act significantly expands the definition of 'covered airport worker' to include most employees working at least 50 percent of their time at New York's major airports.... The current health and welfare supplement is $5.55 per hour, up to 40 hours per week. Employers may satisfy this obligation by paying the amount in cash or offsetting the amount with the value of the employer-provided health insurance or other qualifying fringe benefits. This rate is tied to SCA wage determinations and is subject to change."  MORE >>

"The Oregon Bureau of Labor and Industries recently updated its rules to reflect the new qualifying reason employees may use sick leave: time off to donate blood in connection with a voluntary program that is approved or accredited by the American Association of Blood Banks or the American Red Cross. This new qualifying reason was added effective January 1, 2026."  MORE >>

"Formal phased retirement programs that offer a reduced or flexible schedule and a lighter workload have been few and far between. Last year, just 7% of firms surveyed by the Society for Human Resource Management (SHRM) offered a formal program. A larger share -- about 2 in 10 -- offered an informal phased retirement program where workers typically create their own plan with their manager."  MORE >>

"[T]he IRS has received several comment letters from investment managers and their advocates calling for greater diversification in the permitted investments, including more international exposure.... Meanwhile, Annamaria Lusardi, a finance professor at Stanford University ... argues that keeping the accounts simple -- rather than introducing complex global investing options -- will lead to better outcomes for first-time investors."  MORE >>

"JPMorgan violated ERISA by using a 'fundamentally flawed' process to hire CVS Caremark, whose parent company CVS Health is an investment banking client, the proposed class action lawsuit claims.... JPMorgan allowed CVS Caremark to mark up prices for 366 generic drugs by an average of 211%, causing some employees to pay more than uninsured patients, the complaint alleges." [Stern v. JPMorgan Chase & Co., No. 25-2097 (S.D.N.Y. Mar. 9, 2026)]  MORE >>

"The plaintiffs allege that the corporation breached its ERISA fiduciary duties by allowing excessive prescription drug prices within its health plan.... The lawsuit alleges that the corporation's health plan paid more than $6,000 for a 30-tablet supply of the generic multiple sclerosis drug teriflunomide. According to the plaintiffs, the same medication could be obtained at retail pharmacies for a fraction of that price resulting in markup of 38,000%." [Stern v. JPMorgan Chase & Co., No. 25-2097 (S.D.N.Y. Mar. 9, 2026)]  MORE >>

"Utah will create a state-facilitated online marketplace where private retirement plan providers can list IRA and plan options. Employers can log in, view offerings in a simplified, standardized format, use a comparison tool to filter and compare options, and choose what works for them.... [T]he exchange offers only automatic enrollment."  MORE >>

"A bill before the [Rhode Island] state House would create tax credits for employer-provided retirement plans to put auto-enrollment in place.... The credit attributable to any eligible employee would not exceed $100 per employee per taxable year, and the aggregate credit allowed to any eligible employer would not exceed $10,000. per taxable year."  MORE >>

"[T]he employer required employees to report intermittent FMLA absences the same day they occurred. The employee did not do that. Instead, she tried to report the absences the day after she was fired. The retaliation claim failed for the same basic reason. The evidence showed the termination was based on her failure to return to work when instructed, not on her earlier use of FMLA leave. As the court observed, the record told a simple story -- the employer terminated the employee for an unexcused absence." [Chitwood v. Ascension Health Alliance, No. 25-1933 (7th Cir. Mar. 3, 2026)]  MORE >>

"Industry estimates suggest that overpayment error rates range from 2-5% of total claims costs. Audits help uncover issues such as payments for ineligible claimants or services, missed referral requirements, duplicate payments, and benefit maximum violations. They also identify overpayments and underpayments, facilitate fund recovery, and provide valuable feedback for improving claims processing."  MORE >>

"As the stewards of retirement security for millions of people, pension leaders carry a profound responsibility. Yet many of these leaders are approaching retirement themselves, raising a critical question: who will lead next? Succession planning is the answer. It isn't only an HR exercise; it's a strategic imperative that ensures continuity, preserves institutional knowledge and safeguards the mission of pension plans."  MORE >>

"Nearly 83 million Americans lack workplace retirement savings coverage -- including independent and gig workers and employees who lack access to an employer sponsored retirement plan -- leaving half the U.S. workforce without a clear path to financial security. Establishing national IRA standards with automatic enrollment features can meaningfully close this significant retirement coverage gap."  MORE >>

"The FTC's original theory -- focused on PBM rebate-driven incentives and formulary design affecting insulin access and patient out-of-pocket costs -- has now produced a detailed, enforceable template in the Express Scripts consent order. If OptumRx and Caremark reach comparable settlements, the practical outcome could be an industry-wide shift in what regulators (and plaintiffs) treat as the 'baseline' PBM model."  MORE >>

"The order followed a market conduct examination that identified multiple violations of West Virginia laws governing PBMs. The enforcement action reflects increasing regulatory scrutiny of PBMs by state authorities. Several states ... have heightened scrutiny regarding reimbursement practices, rebate administration and relationships with pharmacies and health plans."  MORE >>

"Given the recent U.S. military engagement in the Middle East, a number of U.S. reservists may be called up for active duty. There are certain steps employers can take now to comply with the Uniformed Services Employment and Reemployment Rights Act (USERRA) and prepare for potential impacts, especially in industries that tend to have large numbers of service members."  MORE >>

"While federal policymakers continue to debate broader reforms to the pharmaceutical supply chain, state attorneys general and insurance commissioners have begun taking matters into their own hands. Recent enforcement actions involving two of the nation's largest PBMs, CVS Caremark and Express Scripts, illustrate how states are increasingly regulating PBMs and challenging practices that they believe harm independent pharmacies and drive up drug costs."  MORE >>

"Employer-provided coverage delivers high-quality, affordable health care for more than half of all Americans ... The vast majority of individuals (89%) with employer-provided coverage are satisfied with their current coverage ... On average, employers pay 84% of employees' health coverage premiums for a single person, and 75% for a family.... A strong majority of voters (83%) support the current tax treatment of employer-provided coverage[.]"  MORE >>

"When Trump promised a match of up to $1,000 on savings, to begin in 2027, he apparently was buying in to the 'saver's match' -- a government matching deposit of up to $1,000 per person per year for lower-and moderate-income savers who contribute to plans or IRAs.... Congress enacted a truncated version, but the credit has still been claimed annually by as many as 10 million savers. Eventually, the 2022 bipartisan Secure 2.0 legislation expanded it, effective 2027 ... renaming it the 'saver's match.' "  MORE >>

"While health and voluntary benefits are attracting growing attention, 401(k) plans remain the most frequently targeted ERISA plans.... Settlements remain significant but individual participants typically receive modest payouts ... Excessive fee and imprudent investment cases in 2025 averaged just over $3 million, while tobacco surcharge claims averaged nearly $5 million. Participants generally received $55-$70 per person, with plaintiffs' attorneys taking roughly one-third. Over the past five years, total settlements across ERISA cases have exceeded $1.3 billion."  MORE >>

"With the changes to the Medicare Part D cost sharing structure behind us, the future impact of the IRA was expected to result in savings. This may still be true, but it's not as simple as applying the negotiated savings to affected market share and assuming the rest of the market won't be impacted.... [T]he net impact on the total OPEB liability will likely still be small, with higher short-term costs, and it may take a few extra years for plan sponsors to see a meaningful reduction in Rx costs due to the drug price negotiations."  MORE >>