GISUE MEHDI and CATHERINE L. REAGAN, February, 2020 1. Thought You Were in the Clear? CA’s Individual Mandate Replaces the ACA Individual Mandate for CA Taxpayers Although the federal government effectively removed the individual mandate under the Affordable Care Act by setting the penalty to zero (effective January 1, 2019 under the Tax Cuts […]
Author: Trucker Huss
CLARISSA A. KANG and DYLAN D. RUDOLPH, February, 2020 On February 26, 2020, the Supreme Court settled a split among federal circuit courts of appeal regarding what it means to have actual knowledge of an alleged breach of fiduciary duty sufficient to begin the running of a three-year period to file suit on the […]
JOSEPH C. FAUCHER and DYLAN D. RUDOLPH, January 27, 2020 For many years, courts have wrestled with the standards that apply to a fiduciary’s decision to offer stock of the sponsor company as an investment option in the company’s 401(k) plan. The struggle arose from two arguably contradictory provisions in ERISA. One provision encouraged […]
CRAIG P. HOFFMAN, December, 2019 The most far-reaching pension reform legislation in 13 years was passed by Congress and is expected to be signed into law by President Trump today as part of the budget bill funding the federal government for the remainder of the fiscal year. The Setting Every Community Up for Retirement […]
R. BRADFORD HUSS, CRAIG P. HOFFMAN, CATHERINE L. REAGAN, November, 2019 401(k) plans have been with us for almost 40 years. Over that time, the focus for most plans has been on helping participants accumulate savings that will be consumed in retirement. With the decline in defined benefit plans, 401(k) plans are providing a large […]
JOSEPH C. FAUCHER and BRIAN D. MURRAY, November, 2019 The Employee Retirement Income Security Act of 1974 (ERISA) has generated numerous U.S. Supreme Court decisions since its enactment, and this year’s term is no exception. The Court is currently considering three ERISA cases involving a range of significant issues. First, in Retirement Plans Committee of […]
Shannon Oliver, November, 2019 On November 6, 2019, the Internal Revenue Service issued Notice 2019-59, containing the cost-of-living adjustments related to retirement plan limitations under the Internal Revenue Code (the “Code”). These changes will take effect on January 1, 2020. Below are some of the highlights. Limitations That Have Increased The limitation on the annual […]
CRAIG P. HOFFMAN, October, 2019 Background On October 23, 2019, the Department of Labor (DOL) published proposed regulations that provide for a new e-disclosure safe harbor for distribution of participant notices required under ERISA. This regulatory project is in response to President Trump’s Executive Order on Strengthening Retirement Security, issued in August of last […]
CLARISSA A. KANG, September, 2019 Last month, the Ninth Circuit held in favor of retirement plan fiduciaries to require arbitration of a participant’s claims for breach of fiduciary duty on an individual basis, rather than on a class action basis. Dorman v. Charles Schwab Corp., — F.3d –, 2019 WL 3926990 (9th Cir. 2019). In […]
SARAH KANTER, September, 2019 This article is part one of a two-part article examining many of the issues that employers and other plan sponsors may want to consider when deciding whether to offer employees an Individual Coverage Health Reimbursement Arrangement (ICHRA), which was created by final regulations (the “final regulations”) released on June 13, 2019 […]
CRAIG P. HOFFMAN Reproduced from the NIPA (National Institute of Pension Administrators) publication Strictly Business for TPA Business Owners The Department of Labor’s recent regulation regarding association retirement plans could significantly affect retirement plan policy for many years to come. However, the most recent guidance plan filed by the Department of Labor (Department or DOL) […]
MARY E. POWELL, September, 2019 In the last few months, the Internal Revenue Service (IRS) and the U.S. Department of Health and Human Services (HHS) have issued rules that impact the cost that group health plans (GHPs) can charge participants for certain prescription drugs. This article explains those rules and also takes a critical […]
CRAIG P. HOFFMAN, August, 2019 Congress will soon be returning to Washington from its summer recess. The question for those interested in retirement policy is whether pension reform will finally move forward this year. The answer will depend on whether several key senators agree to lift the “holds” they have placed on the legislation. […]
ANGEL L. GARRETT and BRYAN J. CARD, August, 2019 A new wave of putative class-action lawsuits filed under the Employee Retirement Income Security Act of 1974 (ERISA) has emerged onto the scene alleging that companies are using outdated mortality tables from the 1970s and 1980s in calculating alternative forms of benefits under defined benefit […]
TIFFANY N. SANTOS, July, 2019 On June 13, 2019, the Departments of Labor, Health and Human Services and the Treasury (the “Departments”) released final regulations that will permit employers and other plan sponsors to offer employees two new types of health reimbursement arrangements or “HRAs” (see here for “FAQs”): (1) an Individual Coverage HRA […]
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