Atlantic Pension Services Inc
Compensation Strategies Group, Ltd.
ERISA Services, Inc.
Creative Pension Consultants, Inc.
Nicholas Pension Consultants
Nova 401(k) Associates
The Retirement Plan Company (TRPC)/an ABG firm
“BenefitsLink continues to be the most valuable resource we have at the firm.”
-- An attorney subscriber
|Biden Administration to Review Rules for Employee Health and Retirement Plans|
Society for Human Resource Management [SHRM]; membership may be required to view article
Jan. 25, 2021
"Congress might review recently finalized Trump-era rules effecting health plan coverage. Targets could include a [DOL] and [HHS] rule to allow grandfathered group plans to impose higher cost-sharing requirements, a DOL, Treasury and HHS (tri-agency) rule requiring health insurers and self-insured plans to disclose price and cost-sharing information, and an HHS rule to pass along drug company rebates to patients at the point of sale, among others....
"The [EEOC] on Jan. 7 released proposed rules limiting the value of incentives employers may use to encourage employee participation in wellness programs that track employees' health data. On Jan. 20, however, the Biden administration withdrew the proposed regulations from publication in the Federal Register until his newly appointed EEOC chair, Charlotte Burrows, reviews and approves the rule....
"The Biden transition team's list of regulations to be reviewed includes a November 2020 DOL final rule requiring sponsors of retirement plans to evaluate investments based solely on financial risk and return factors except when nonfinancial factors are used as a 'tie breaker' between funds with similar performance expectations....
"Another DOL final rule expected to be reviewed by the new administration addresses fiduciary requirements for professionals who recommend investments to 401(k) plan participants, allowing advisors to receive compensation from mutual fund providers while holding them liable if they fail to act in the best interest of those they advise."
|Please click here to report this link if it is broken (for example, if you see a "404 File Not Found" error message after you click on the link above).|
|An important word about authorship: BenefitsLink® is providing a hypertext link to the item shown above, but is not the author of the item (unless otherwise specified).|