DOL Relaxes Deadlines for ERISA-Governed Group Health Plans
In step with the U.S. Department of Treasury and the IRS, the U.S. Department of Labor published deadline leeway and direction for ERISA-related group health and welfare plans regulated by the Employee Retirement Income Security…
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Can Employees Who Didn’t Read Benefit Disclosure Still Sue?
A U.S. Supreme Court decision from a few months ago has resulted in a ruling that is potentially helpful for plaintiffs/lawyers to bring ERISA actions. The United States Supreme Court decided in Intel Corp v….
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New House-Passed HEROES Act Includes Retirement Clarity
The novel $3 trillion stimulus bill, passed on May 15, encompasses retirement initiatives voiced by the American Retirement Association. The House of Representatives signed off on the “Health and Economic Recovery Omnibus Emergency Solutions” (HEROES)…
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How Errors & Omissions Coverage Protects Pension Professionals from Costly Mistakes
It can be difficult for pension professionals to juggle servicing multiple employee benefit plans at once. With Errors and Omissions protection, pension professionals safeguards against covered losses from any actual or alleged negligent act, error, or…
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IRS Answers Common CARES Act Questions
For those who are perplexed about the recent CARES Act legislation, the IRS has some answers for you. The organization laid out 14 common questions and answers to the May 4 Q&As concern Section 2202…
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EBSA Gives Filing Relief for ERISA-Related Deadlines
The Employee Benefit Security Administration (EBSA) just launched deadline relief and recommendations related to the current impact of the COVID-19 pandemic, including expanding “good faith” application of electronic delivery. According to the EBSA’s “Disaster Relief…
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COVID-19 Layoffs come with Plan Sponsor PBGC Reporting Obligations
The recent pandemic has forced the hand of numerous establishments across the United States to release employees from their current positions. With over 26 million Americans now filing for unemployment in as little as five…
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House Approves Bill to Help Pay Retirement Benefits
On April 23, the House of Representatives approved a $484 billion COVID-19 stimulus bill which incorporates funding that can be utilized to help pay retirement benefits. The novel legislation, titled the Paycheck Protection Program and…
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Record Keeper, Plan Sponsor Sued for Fiduciary Breach in 401(k) Account Hack
A suit has been filed, alleging “actions in allowing an unknown individual to prey on and steal hundreds of thousands of dollars form the retirement savings of the Plaintiff.” The case was filed on behalf…
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