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Trucker Huss Benefits Report, May 2015 (PDF)

Articles include: [1] DOL proposed fiduciary rule: a significant second take; [2] Plan sponsors gear up for required ACA reporting of coverage; and [3] New final ACA rules regarding limited wraparound coverage as an excepted benefit.

Benefits Quiz from the April 2008 Trucker Huss Benefits Report (PDF)

Pages 1-2 of 10 pages. Excerpt: The ... questions are designed to refresh, and to fine tune, your benefits expertise. Some of the answers (which are found on page 8 of this Newsletter) may surprise you.

Lawsuit Seeks to Invalidate DOL Opinion on Morgan Stanley Bonus Plan

"The complaint states that the Opinion used a purpose test and determined that the plan's purposes were to provide bonuses and not retirement income, when case law requires an examination of whether the plan has the effect of deferring income to termination of employment or beyond.... [It] is not unforeseeable that the court that previously held that the Morgan Stanley plan is subject to ERISA will invalidate the Opinion holding it is not." [Sheresky v. Chaves-DeRemer, No. 25-8935 (S.D.N.Y. complaint filed Oct. 28, 2025)]

Tax Exempt Organizations Sponsoring 457(b) Plans Must Amend Plans by Year-End

"457(b) plans ... were neglected and excluded from the IRS Notice that extended the amendment deadline for other plans and governmental sponsors of 457(b) plans from the end of 2025 to the end of 2026.... Tax Exempt 457(b) Plans must be amended by the end of this year for the new RMD ages and it doesn't appear there will be any further extensions."

The Roth Catch-Up Regs Are Final: What You Need to Know!

"A key decision for employers is whether to implement the deemed election process.... A plan may use either of the two new correction methods, but it must apply the same correction method to similarly situated participants.... The deadline to correct a failure using these correction methods depends on which limit is the basis for the redesignating pre-tax deferrals as catch-up contributions.... Special rules apply to dual-qualified plans (plans qualified under both U.S. and Puerto Rico law). "

Fiduciary Risk in a Financial Wellness World

"A lawsuit [recently] filed ... offers a legal theory that is yet to be well addressed in ERISA case law -- that participant data should be treated as a 'plan asset' subject to ERISA's fiduciary duties of prudence and loyalty.... Such an assertion highlights the real-world risk of permitting recordkeeper utilization of participant data for any purpose beyond core recordkeeping responsibilities ... This article provides practical contracting considerations for plan fiduciaries seeking to strike a balance between fiduciary risk and permitting financial wellness products." [Williams-Linzey v. Empower Advisory Group, LLC, No. 25-14660 (D.N.J. complaint filed Aug. 15, 2025)]

Plan Coverage of GLP-1s: What Must Plan Sponsors Consider?

"With the ever-expanding list of plan design options for covering GLP-1s, it is important to keep in mind how federal laws may impact plan design and administration of GLP-1 coverage.... ACA and Essential Health Benefits ... HIPAA nondiscrimination ... ADA compliance ... Disability discrimination."

Clarifying the Effective Date for Roth Catch-Up Contributions

"The final regulations specifically state in the Preamble that they do not extend or modify the administrative transition period.... [U]nder the Applicability date section, the regulations state, '[T]his section applies to contributions in taxable years beginning after December 31, 2026. For prior taxable years, a reasonable, good faith interpretation standard applies' ... [T]he administrative transition period ends on December 31, 2025."

EBSA Agrees Morgan Stanley Deferred Compensation Plan Is Not Subject to ERISA

"There are several arbitrations and even lawsuits over the Plan which Morgan has been defending for years. In those cases, the plaintiff-advisors maintain that the Plan is subject to ERISA and violates its minimum vesting rules. Morgan has been winning many arbitrations. However, in July the United States Court of Appeals for the Second Circuit held the Plan was subject to ERISA and the plaintiff's in the class action could go to arbitration with their claims.... The DOL's Advisory Opinion gives Morgan even more ammunition to defend the arbitrations and may even chill future claims." [Shafer v. Morgan Stanley, No. 24-3141 (2d Cir. Jul. 9, 2025).]

Top Hat Plans Should Use a Forum Selection Clause to Avoid Confusion (PDF)

"Cases have examined virtually every portion of the phrase 'maintained primarily for the purpose of providing deferred compensation for a select group of management or highly compensated employees.' ... [W]hile it would appear that the factors of 'primarily', 'select group', 'management' and 'highly compensated' seem to be independent, courts often merge them in their analysis. [This article] will examine each of these factors and the case law addressing them ... [DOL Opinion Letter 90-14A] has led to a split in the federal circuits as to the test for top hat group status.... [A] forum selection clause might be used to avoid the lack of certainty in the area."