"Despite plan fiduciaries having had just a handful of weeks to digest the DOL's only actionable guidance on cybersecurity and privacy matters, ... the DOL has begun issuing information and document requests under this new initiative, and the requests are probing and indicate serious inquiry by the DOL.... [B]oth the pace with which the DOL has begun its audits and the depth and breadth of the initial round of requests is surprising."

"[T]he calculations may be less than straightforward depending on the facts and circumstances, particularly where post-termination coverage is subsidized, or if the plan voluntarily provides continued coverage to individuals who are not otherwise qualified beneficiaries."

Proposed Rules

• Valuation Assumptions and Methods: Interest and Mortality Assumptions for Asset Allocation in Single-Employer Plans and Mass Withdrawal Liability Determination in Multiemployer Plans
• Multiemployer Plan Guaranteed Benefits
• Improvements to Rules on Recoupment of Benefit Overpayments
• Penalties for Failure to Provide Certain Notices or Other Material Information

Final Rules

• Benefit Payments and Allocation of Assets
• Examination and Copying of PBGC Records
• Adjustment of Civil Penalties
• Special Financial Assistance by PBGC

Proposed Rules (EBSA)

• Implement SECURE Act and Related Revisions to Employee Benefit Plan Annual Reporting on the Form 5500
• Definition of the Term "Fiduciary"
• Implementing Executive Orders 13990 and 14030
• Prohibited Transaction Exemption Procedures
• Provider Nondiscrimination Requirements for Group Health Plans and Health Insurance Issuers in the Group and Individual Markets

Final Rules (EBSA)

• Pension Benefit Statements -- Lifetime Income Illustrations
• Adoption of Amended and Restated Voluntary Fiduciary Correction Program
• Requirements Related to Surprise Billing, Part 1
• Requirements Related to Surprise Billing, Part 2
• Amendment of Abandoned Plan Program

Numerous employee benefits items, some of which are:

Proposed Rules

• Determination of Governmental Plan Status
• Guidance on Rules Applicable to IRAs Under Sections 408 and 408A
• Reporting and Notice Requirements for Deferred Vested Benefits Under Section 6057
• Rules Relating to Employer-Provided Meals and Employer-Operated Eating Facilities
• Definition of Church Plan
• Application of Nondiscrimination Requirements, Backloading Limitations, Certain Plan Termination Rules, Benefit Limitations, and Top Heavy Rules to Statutory Hybrid Plans
• MEPs and the Unified Plan Rule
• Determination of Line of Business for Purposes of No-Additional-Cost Service and Qualified Employee Discount Fringe Benefits
• Guidance on 401(a)(9) Required Minimum Distributions
• Requirements Related to Surprise Billing, Part 1
• Requirements Related to Surprise Billing, Part 2

Final Rules

• Definition of Dependent Under Section 152
• Reporting and Notice Requirements for Deferred Vested Benefits Under Section 6057
• Update to Minimum Present Value Requirements for Defined Benefit Plan Distributions
• Application of Normal Retirement Age Regulations to Governmental Plans
• Nondiscrimination Relief for Closed Defined Benefit Plans
• Minimum Value of Eligible Employer-Sponsored Plans
• Withholding on Certain Retirement Plan Distributions Under Section 3405(a) and (b)
• Application of the Employer Shared Responsibility & Certain Nondiscrimination Rules to HRAs and Other Account-Based Group Health Plans Integrated With Individual Health Insurance Coverage or Medicare

"These FAQs address the tax credits available under the American Rescue Plan Act of 2021 (the 'ARP') by employers with fewer than 500 employees and certain governmental employers without regard to the number of employees ('Eligible Employers') for qualified sick and family leave wages ('qualified leave wages') paid with respect to leave taken by employees beginning on April 1, 2021, through September 30, 2021, as well as the equivalent credits available for certain self-employed individuals."

[Editor's note: The IRS has published separate FAQs about tax credits that may be claimed for qualified leave wages paid with respect to leave taken by employees prior to April 1, 2021, under the FFCRA and the COVID-related Tax Relief Act, at Tax Credits for Paid Leave Under the [FFCRA] for Leave Prior to April 1, 2021 FAQs.]

"PBGC is modifying the Form 10 for the 'Failure to make required contributions' reportable event to provide that if payment was made to satisfy a missed contribution, the filer must submit documentation of that payment ... to give evidence that the missed contribution was made up and no risk to the plan remains before PBGC closes the event.... PBGC is modifying the [Form 200] to include a separate field showing the payment amount that triggered the notification in order to better track missed contributions and identify the amount by which liens associated with missed contributions must be updated." [Instructions for submission of comments can be found on the PBGC website.]

"[PBGC's published] interest rates are intended to reflect current conditions in the annuity markets. To determine these interest rates, PBGC gathers premium rate data from insurance companies that are providing group annuity contracts to terminating pension plans through a quarterly survey. The American Council of Life Insurers (ACLI) distributes the survey and provides PBGC with 'blind' data ... PBGC is proposing several changes to the survey distributed by ACLI." [Instructions for submission of comments can be found on the PBGC website.]

"[E]mployers are required to provide employees with up to 40 hours of COVID-19 emergency paid sick leave if they are unable to work due to a qualifying reason related to COVID-19, including to obtain a vaccine.... [T]he final version of the bill took effect upon signing, and its benefits will remain in place until September 30, 2021, or until the COVID-19 Massachusetts Emergency Paid Sick Leave Fund ('Reimbursement Fund') runs out[.]"

"Amazon.com, Inc. launched a long-anticipated expansion of its pharmacy business on June 8, saying it will allow Prime members to purchase up to six-month supplies of generic prescription drugs for $6.... Amazon's well-developed logistics and internet retail abilities mean it will be a formidable player."

"This guidance offers important takeaways for employer-plan fiduciaries with respect to hiring and monitoring: [1] those who advise you about the investment funds that should be included in the plan; and [2] those who provide advice to participants about their investment fund selection in the plan or on rollovers (e.g., at provider call centers)."

"Unlike nearly every other purchase a consumer makes, when members buy pharmaceuticals, there is a different price for each person -- even at the same pharmacy.... In fact, fully insured employers that do not transparently negotiate prescription drug pricing, and are simply subject to the general contract of the insurers, face the worst drug pricing in the market."

"For 2021, 92% expanded the support for mental health and emotional well-being, which includes programs focused on stress management, sleep improvement and resiliency ... Nearly three-quarters (74%) of employers increased programs to support work/life balance, with 69% of employers adding new leave options or expanding their leave benefits during the COVID-19 pandemic."

"The complaint alleges that many of the mutual funds ... were more expensive than comparable funds found in similarly sized plans -- those with more than $1 billion in assets. It says the expense ratios for the funds in the plan were up to 280%, in one case, and up to 273%, in another, above the median expense ratios for funds in the same investment category." [Garnick v. Wake Forest Univ. Baptist Medical Ctr., No. 21-0454 (M.D.N.C. complaint filed Jun. 4, 2021)]

"The new standard affects all phases of audits, including engagement acceptance and reporting. It also significantly revises the form and content of the audit report to provide greater transparency regarding the scope and nature of the audit.... [T]he new standard requires plan sponsors to provide additional information and documentation to the auditor. [Certain] key provisions may have major implications for plan sponsors."

"[In] the case of any person described in Sec. 7508A(b) (generally pensions and employee benefit plans), the time-sensitive acts postponed for the mandatory 60-day postponement period include ... various contributions, distributions, and rollovers."

16 pages. "Preliminary data indicate that the commitment to contribution activity in 2021:Q1 continued at the high rate observed in the first three months of other years.... Most DC plan participants stayed the course with their asset allocations as stock values edged up during the first three months of the year.... DC plan participants' loan activity edged down in the first quarter of 2021."

"This 'In Focus' explains why the Trustees use a 75-year horizon for evaluating the financial status of the Social Security program under current law and, in turn, for evaluating the financial impact of Social Security legislative proposals. It also explains why comparing the valuation period used for Social Security with the valuation periods used for other systems, including private-sector defined benefit (DB) pension plans,can be misleading." [IF11851, Jun. 11, 2021]

"The policy was supposed to take effect next month, but UHC said it would delay implementation until at least the end of the COVID-19 pandemic. Providers say payers should abide by the 'prudent layperson standard,' which requires payers to base reimbursement on a patient's presenting complaint rather than the final diagnosis."

"Both the comprehensive and limited approach to auto-enrollment would require the development of new administrative systems and enhanced marketplace subsidies to improve coverage affordability. Each approach would operate more simply if accompanied by a public insurance option. [The authors] conclude that the administrative and financing challenges related to auto-enrollment can be addressed and that a balance between public costs and sufficient political support could be identified."

"Employers are the newest contenders for the rollover assets from your retirement plan. Here's what to consider when leaving your job and choosing whether to leave your money in your old employer's defined contribution plan or roll it over to an IRA."

"While the petition for certiorari poses several questions, the one that ... could, and should, be unequivocally resolved is the so-called 'menu of investment options' defense.... [T]here are a few courts that continue to accept the defense, effectively [denying] plan participants the rights and protections guaranteed to them under ERISA. The plaintiffs cite this ongoing division within the federal judicial circuits as one reason for why cert should be granted." [Hughes v. Northwestern Univ., No. 18-2569 (7th Cir. Mar. 25, 2020; cert. pet. filed Jun. 19, 2020)]

"Under the new law, Nevada's public option plan won't be available for purchase until 2026, giving state officials time to conduct an actuarial study of the proposal to determine whether it will accomplish proponents' goals of increasing health care access and affordability and at what cost."

"Victims of severe storms and flooding that began May 17, 2021 now have until August 16, 2021, to file various individual and business tax returns and make tax payments ... Individuals and households affected by severe storms and flooding that reside or have a business in Ascension, Calcasieu, East Baton Rouge, Iberville, and Lafayette Parishes qualify for tax relief."

"This report outlines [GAO's] 4 priority open recommendations for the Social Security Administration as of May 2021.... These recommendations involve ... ensuring program integrity; and protecting vulnerable beneficiaries. SSA's continued attention to these issues could lead to significant improvements in government operations." [GAO-21-430PR, published Jun. 3, 2021, released Jun. 10, 2021]