News Archive

"The order directs the Treasury Department to establish the website by January 1, 2027, and to list financial organizations that offer IRAs, that accept the Saver's Match contribution, and that meet other criteria. These organizations must offer IRAs that [1] Provide a menu of investment options that includes either investment fund products or funds that are designed to protect principal;. [2] Maintain low administrative costs, with overall expenses limited to .15%; and [3] Do not impose minimum-contribution or balance requirements. Based on the executive order, most depository financial institutions would not be listed on the new website."  MORE >>

"Two areas of the regulation raise questions that would benefit from additional guidance. First, does maximum discretion to choose investments mean that prudent fiduciaries could select an ESG fund, as the best fit for their plan participants' risk preferences? ... Second, what does it mean to establish an investment menu that allows participants to maximize risk-adjusted returns across their portfolios?"  MORE >>

"Under Section 4980H(c)(5), in the case of any calendar year after 2014, the applicable dollar amounts of $2,000 and $3,000 under Section 4980H(c)(1) and (b)(1), respectively, are increased by an amount equal to the product of such dollar amount and the premium adjustment percentage for the calendar year.... (HHS) published the premium adjustment percentage for 2027 on January 29, 2026  ... For calendar year 2026, the adjusted $2,000 amount under Section 4980H(c)(1) is $3,780, and the adjusted $3,000 amount under Section 4980H(b)(1) is $5,670."  MORE >>

"While HIPAA included employer-sponsored health plans within the definition of a HIPAA covered entity, OCR is -- for the first time in OCR's enforcement history -- applying its long-standing enforcement agenda directly to the employer health plan context. This activity is a reminder that HIPAA applicability is an overlooked legal risk for many major employers."  MORE >>

"[A] district court in California awarded summary judgment to Intel, ruling that ERISA does not impose a reasonableness requirement on actuarial assumptions used to calculate retirement benefits. This ruling comes on the heels of a recent appellate court decision that reached the opposite conclusion -- but that court has recently indicated it may reconsider the ruling." [Berkeley v. Intel Corp., No. 23-0343 (N.D. Cal. April 8, 2026)]  MORE >>

"President Donald Trump's April 30 Executive Order establishing TrumpIRA.gov and expanding access to retirement savings has quickly drawn a largely supportive reaction across the retirement industry ... [This article provides] a roundup of 12 statements received ... highlighting both optimism about the potential to expand access -- particularly through alignment with the Saver's Match -- and caution about execution, standardization, and the need for legislative follow-through."  MORE >>

13 pages. "Maryland finalized paid family and medical leave (PFML) regulations in advance of contributions starting next year. New York and Washington, DC, tweaked their PFML laws. Oregon issued guidance on PFML and paid sick and safe leave (PSSL).... Florida, Ohio, and Virginia passed significant pharmacy benefit manager (PBM) laws while Maine clarified a prior law through regulations. New Mexico and South Dakota focused on prior authorization.... Mississippi eased access to association health plans, and a Wyoming law enabled independent contractors to open portable benefit accounts.... San Francisco's new methodology for compliance with the Healthy Airport Ordinance (HAO) started."  MORE >>

"Creditable prescription drug coverage is defined as coverage that is equal to or greater than the actuarial value of standard Medicare Part D coverage.... Plan sponsors can determine creditable status using either a simplified determination method or an actuarial evaluation. Employer Group Waiver Plans (EGWPs) and Retiree Drug Subsidy applicants are required to use actuarial valuation.... CMS introduced a new simplified determination -- optional in 2026 and mandatory in 2027 and beyond. The only change from 2026 to 2027 is a one percentage point increase in required value."  MORE >>

"Currently, about half of plan sponsors have adopted at least one of the distribution provisions while 37 percent have adopted the natural disaster provision and 30 percent have adopted the domestic violence provision. We also asked why they are or are not adding these provisions and the answers range from 401(k) administration is complicated enough as it is, concerns about abuse, to participants requesting them. One employer added four but limited use to three per year, which is an interesting way to balance the flexibility in offering options with limiting abuse and leakage."  MORE >>

"Taken at face value, [FAB 2026-01] should end efforts by the DOL to try and hold ESOP trustees liable if the DOL disagrees with subjective valuation determinations made by the trustees' independent valuation advisors.... ERISA permits an ESOP trustee to cause an ESOP stock transaction if the transaction is for 'fair market value as determined in good faith' by the trustee. As so many courts have held, this standard is not a valuation standard, it is primarily a standard of conduct.... There are, however, uncertainties that remain."  MORE >>

"The breach of fiduciary duty claims in tobacco surcharge cases fit comfortably within the broad insuring agreements found in most fiduciary liability insurance policies. The discriminatory surcharge and reasonable alternatives claims also arise from the duties imposed by ERISA and are arguably covered under these policies."  MORE >>

22 pages. "The purpose of this [report] is to inform ERISA health plan sponsors and trustees about why it is vital to address provider errors -- meaning recovering provider overpayments and correcting underpayments. The report also offers advice for choosing a vendor specializing in these services.... Administrators of self-funded health plans bear a fiduciary responsibility under ERISA to protect plan assets, which includes proactively pursuing and recovering any overpayments. Equally critical is the fiduciary obligation to ensure that providers are not undercompensated to the detriment of plan participants."  MORE >>

"PRC made numerous recommendations to strengthen the proposed rule to provide greater consumer protections [including] ... Complete and release a study, also mandated by SECURE 2.0, that would study the 'effectiveness' of current electronic delivery regimes and report on the 'rate at which participants and beneficiaries are receiving, accessing, understanding and retaining disclosures.' Once the study is completed and sent to Congress, rethink the safe harbors and to consider combining them into a single set of rules that ensure that the greatest number of participants receive, review and retain their disclosures"  MORE >>

"Direct-to-consumer reimbursement models have emerged as a compelling alternative, enabling participants to obtain these medications at reduced prices while shifting claims processing outside traditional PBM frameworks. [This article outlines] the key legal and administrative considerations plan sponsors must address before adopting these arrangements."  MORE >>

"The US drug pricing environment is shifting rapidly ... States, federal agencies, and the courts are all driving reforms that affect pharmacy costs, benefit design, and contract strategy. Employers will face more variability, more oversight and more pressure to make informed decisions quickly.... This white paper summarizes the major forces shaping 2026 and provides practical, employer focused guidance on how to navigate this environment."  MORE >>

"Over the past few years, plan sponsors, services providers, and trade associations have been increasingly vocal about issues with EBSA's enforcement. FAB 2026-01 appears designed to address many of the key concerns, including the length of time of investigations and attempts to regulate through enforcement. This represents a fundamental shift in DOL's relationship with the regulated community, though the ultimate impact will depend, in large part, on how it is implemented by the DOL regional offices."  MORE >>

"Many primary care clinics (PCCs) participating in the Minnesota State Employee Group Insurance Program (SEGIP) are willing to lower their prices to attain better tier placement, although they face obstacles to lowering total costs of care (which include specialists, hospitals, and pharmaceuticals). Patients are more likely to choose lower-tier (i.e., lower -- cost sharing) PCCs, but such selections are limited by inertia once an initial selection has been made, and patients' behavior is less cost-sensitive when it comes to receiving care from specialists, hospitals, and pharmaceutical providers."  MORE >>

"The core defect lies in the Independent Dispute Resolution (IDR) process. This system was envisioned as a rare backstop, with initial government estimates projecting a mere 17,000 arbitration cases annually. Instead, providers flooded the zone with 1.2 million cases in just the first half of last year alone, and they are winning around 88 percent of the time. Out of network doctors now plead their cases to government approved arbitrators. These victories often result in fees hundreds of times higher than what providers could ever negotiate directly with insurers."  MORE >>

"More than a quarter of Gen Z learning another language through Preply currently live abroad or have done so in the past, and another 38% say they would consider it in the future. Career advancement is a leading motivator: 26% cite it as a top reason for learning a new language, more than any other generation. About one in five say they study languages to increase their salary or improve job security, while 13% believe it could help them break into a new field. Nearly half also think speaking a second language would open up job opportunities overseas."  MORE >>

"Through a federally administered retirement-savings informational platform that highlights qualifying high-quality, low-cost, private-sector IRAs, the United States will promote retirement-savings participation, provide access to retirement-savings options similar to those enjoyed by Federal employees, and encourage workers to reap the rewards of the vibrant American private-sector along with the power of compound earnings....

"The Secretary of the Treasury shall, by January 1, 2027, establish a website (TrumpIRA.gov) that provides individuals, with a particular focus on independent contractors, self-employed individuals, and other workers who do not have access to an employer-sponsored retirement plan, with information about high-quality, low-cost IRAs. Individuals who contribute to qualifying IRAs, and who are otherwise eligible, are entitled to a Federal Saver's Match contribution of up to $1,000[.]"  MORE >>

"TrumpIRA.gov, which will be operational by January 1, 2027, will allow workers to filter and compare IRAs based on cost, quality, and investment options, ensuring that hard-working Americans can make informed retirement savings decisions at low cost.... Under the Federal Saver's Match program, the Federal government will contribute up to $1,000 per year to eligible lower- and middle-income workers who contribute to qualifying retirement accounts."  MORE >>

"Employers near the FMLA's 50-employee threshold should reassess whether the new analysis expands the jointly employed workforce and triggers leave, notice and benefits obligations."  MORE >>

"Two themes emerge from the 2026 update: statutory changes tied to the OBBBA, most notably the permanent treatment of student loan repayment assistance and future inflation indexing of the exclusion limit, and related IRS clarifications that frame those benefits in a more forward-looking and flexible way."  MORE >>

"The concept of government neutrality on the types of investments for ERISA-governed retirement plans is not the surprise. The surprise is the wording of 'maximum discretion'.... [It's] not defined in ERISA or in the proposed regulation. For example, does a fiduciary need to consider the needs and circumstances of the covered participants -- such that fiduciary responsibility limits the application of the discretion?"  MORE >>

"[T]he Proposed Rule addresses only the duty of prudence as it relates to the selection of investments. It does not address the ongoing duty to monitor investments ... The DOL has indicated that it expects to issue additional guidance addressing monitoring obligations in the future."  MORE >>