Search the News Archive

Consider Retirement Plan Mandates When Expanding to New States

"[M]any employers -- especially employers that currently offer 401(k) or pension plans to their employees -- may quickly dismiss these laws as not applicable. However, as employers add small employee groups, resulting from multistate expansion through organic growth or acquisitions, they should be aware of state-run retirement plan mandates to ensure compliance and avoid the accumulation of penalties."

Two Recent Cases Provide Important ERISA Reminders

"The reminders [in one recent case] are: [1] the DOL does audit many plans of many sizes, and [2] blatantly ignoring the requirements of ERISA when administering or amending an ERISA plan or the advice of your counsel and other advisors on the hope that you will not be audited is not prudent or smart. [Walsh v. Board of Trustees of Local 272 Welfare Fund, No. 22-5292 (S.D.N.Y August 2, 2022)] ... [W]hile a de novo review standard continues to be fairly rare in ERISA benefit cases, there is a range of reasons why this may be the appropriate standard, including poor drafting, significant claims regulation violations, or the situs of the case.... [T]he law of the land on this issue varies significantly depending on where the litigation is located[.]" [Harris v. The Lincoln National Life Ins. Co., No. 21-13186 (11th Cir. Jul. 29, 2022)]