"Plans and plan fiduciaries should take particular note of the shortened timeframe to provide information and the fiduciary certification requirement. Plans must provide documents very quickly after request by the Departments or participants, which will be nearly impossible to do if not prepared. Failure to timely provide information can result in $110 per day penalties per affected individual, possible general ERISA penalties, and civil litigation. Plan fiduciaries can be held personally liable for failing to prudently prepare each comparative analysis."  MORE >>

"According to the suit, tobacco surcharges are lawful but must be issued in conjunction with a compliant wellness program and allegedly [Tractor Supply] failed to provide any alternative standard to its plan participants. The complaint alleges that the surcharge is a violation of ERISA's anti-discrimination rule[.]" [Harrison v. Tractor Supply Co., No. 24-1612 (M.D. Penn. complaint filed Sep. 23, 2024)]  MORE >>

"[E]mployers who sponsor group health plans should be aware of compliance changes affecting the design and administration of their health plans for plan years beginning on or after Jan. 1, 2025. These changes include ... the [ACA's] affordability percentage and cost-sharing limits for high-deductible health plans (HDHPs).... Health plan sponsors should also confirm that their open enrollment materials contain certain required participant notices, such as the summary of benefits and coverage (SBC), when applicable"  MORE >>

"Gov. Mike Dunleavy (R-Alaska) signed into law HB 226, legislation led by the Alaska Pharmacy Association to reform PBMs. The bill establishes PBM duty of care to plan sponsors, benefits administrators, and covered persons. It also adds transparency and disclosure requirements to PBMs."  MORE >>

"The per diem rules can greatly simplify the process of substantiating business travel expense amounts. If the amount of an allowance is deemed substantiated because it does not exceed the applicable limit, any unspent amounts do not have to be taxed or returned. If an employer pays per diem allowances that exceed what is deemed substantiated, however, the employer must either treat the excess as taxable wages or require actual substantiation. If substantiation is required, any unsubstantiated portion of the allowance must be returned or treated as taxable wages."  MORE >>

"[1] Put a written plan in place and make sure it's compliant with [ERISA] ... [2] Ensure all summary plan descriptions (SPDs) are updated ... [3] Reconcile SPDs with your governing plan documents to eliminate conflicts ... [4] Look over plan eligibility requirements ... [5] Fully document any changes to the plan ... [6] Audit contributions ... [7] Make certain your 401(k) contributions are deposited quickly ... [8] Ensure pretax payments are made within a Section 125 plan ... [9] Audit your COBRA plans."  MORE >>