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Report Link U.S. Supreme Court Rules In Key Benefit Cases.Ogletree Deakins - August 05, 2008 In the closing days of its most recent term, the U.S. Supreme Court issued two decisions relating to the design and administration of employee benefit plans. The first, Metropolitan Life Insurance Company v. Glenn, addressed (without giving significant guidance) the question of whether a conflict of interest exists when a plan administrator who decides questions of eligibility for benefits is also the person responsible for paying any benefit claims, and the effect of such a conflict on a reviewing court's analysis. The second, Kentucky Retirement Systems v. EEOC, addressed the question of whether a pension plan's failure to increase benefits to disabled retirees once they reach normal retirement age (but continue working) violates the Age Discrimination in Employment Act (ADEA). Report Link Same-Sex Marriages: What Do They Mean for Your Benefit Plans?Fisher & Phillips, LLP - July 03, 2008 On May 15 of this year, the California Supreme Court held that same-sex couples must be permitted to legally marry in California. According to the decision, the failure to designate the relationship of a same-sex couple as a marriage violates the equal protection clause of the California Constitution. When the decision takes effect on June 14, 2008, California will join Massachusetts as the only states that recognize same-sex marriages. Report Link Supreme Court Rules on Judicial Review of ERISA Benefit Claims.Vedder Price - June 26, 2008 On June 19, 2008, the Supreme Court
issued a fractured (5–1–1–2) decision in
MetLife Insurance Co. v. Glenn, ruling
that employee benefi t plan
administrators who both make benefi t
decisions and pay benefi t claims under
a plan covered by the Employee
Retirement Income Security Act of 1974
(ERISA) operate under a confl ict of
interest that must be weighed as a
factor upon judicial review. However,
the Court failed to provide a uniform and
predictable framework for judicial review
of confl icted decisions, holding instead
that the weight given to the confl ict will
vary according to the particular “facts
and circumstances” of each case. The
ruling has implications for insurers and
sponsors of self-funded plans. Report Link Supreme Court Sides With Employee In Benefits Denial Claim.Fisher & Phillips, LLP - June 20, 2008 The Supreme Court confirmed that a conflict of interest exists where "dual-role" employee benefit plan administrators have the authority to both evaluate and pay claims. More importantly, the Supreme Court also clarified how the conflict of interest should be weighed on review of a plan administrator’s discretionary benefit denial. Report Link Gearing Up For A Downturn - A Primer On Key Benefits Issues Webinar (Power Point Presentation).Ogletree Deakins - June 09, 2008 In this webinar, the Employee Benefits and Executive Compensation Practice Group of Ogletree Deakins covers the latest Benefits issues affecting employers. Report Link IRS Says Tax Rebates May be Withdrawn from Tax-Favored Accounts Without Penalty.Ford & Harrison LLP - May 12, 2008 The Internal Revenue Service has announced that individuals who had their “tax rebates” directly deposited into Individual Retirement Accounts (IRA) and other tax-favored accounts may withdraw those “rebate” amounts without liability for either income tax or penalties. Report Link IRS Changes the Rules for Performance-Based Compensation.Littler Mendelson, P.C. - May 01, 2008 Recent changes to the way in which the Internal Revenue Service (IRS) interprets "performance-based compensation" under Internal Revenue Code (IRC) Section 162(m) have narrowed the types of arrangements that may be classified as performance-based and will require publicly-held companies to reexamine these arrangements or jeopardize the financial soundness of current tax and financial planning methodologies. Report Link Proposed Rule Clarifies Prohibition on Employer Incentives to TRICARE Beneficiaries.Littler Mendelson, P.C. - April 25, 2008 As expected, the Department of Defense (DoD) has issued proposed regulations regarding the coordination of employer-provided group health care and TRICARE. TRICARE is a U.S. Government-sponsored group health program providing benefits to retired military personnel and their dependents. In general, the proposed rule seeks to clarify an earlier TRICARE amendment that prohibits an employer from offering financial or other benefits to TRICARE beneficiaries as incentives not to enroll or to terminate enrollment in a group health plan that would be primary to TRICARE. The proposed rule's retroactive effective date is January 1, 2008. Report Link Recent U.S. Supreme Court Decision and U.S. Department of Labor Proposed Rule and Field Assistance Bulletin Affect Sponsors of Employee Benefit Plans.Cooley Godward Kronish LLP. - April 15, 2008 Recent case law and regulatory developments will affect sponsors of employee benefit plans subject to the Employee Retirement Income Security Act of 1974 (“ERISA”) and may warrant their immediate review of existing administrative procedures and service arrangements for such plans. The U.S. Supreme Court’s decision in LaRue v. DeWolff (128 S. Ct. 1020, February 20, 2008) affects sponsors of individual account employee pension benefit plans. Regulations proposed by the U.S. Department of Labor (“DOL”) on February 29, 2008 will govern the timing of deposits of participant contributions by sponsors of employee pension and welfare benefit plans, while a Field Assistance Bulletin (“FAB”) issued by the DOL on February 1, 2008 provides guidance on the responsibilities of plan fiduciaries and trustees for monitoring and collection of delinquent contributions to employee pension and welfare benefit plans. Report Link Court Reminds Employers to Follow "Lock In" Letters for Employees' Income Tax Withholdings.Littler Mendelson, P.C. - April 01, 2008 A United States district court in Pennsylvania recently held that employers are obligated to follow an IRS "lock in" letter, and, as a result, cannot be held responsible by the employee for following the IRS's instructions. This case serves as a reminder that employers should follow employees' instructions on withholding, but should immediately implement any "lock in" letters it receives. Report Link A Safe Harbor for Small Plans: The DOL Proposes New Regulations Regarding Participant Contributions.Ford & Harrison LLP - March 27, 2008 On February 29, 2008, the Department of Labor (“DOL”) proposed new regulations addressing when participant withholdings would become “plan assets.” Report Link IRS Establishes Cross Divisional Team to Combat Improper Tool Reimbursement Plans.Littler Mendelson, P.C. - February 14, 2008 The IRS has established a new cross divisional team comprised of members from the audit examination, appeals and legal departments to address the IRS's ongoing efforts to combat improper tool reimbursement plans. This issue has drawn significant IRS scrutiny for the last several years due to the aggressive marketing of such plans to employers, particularly in industries such as automotive, construction, aircraft, agriculture and others that use significant hand tools. Employers should be wary of such plans and carefully determine whether they comply with IRS regulations. Report Link U.S. Supreme Court to Review Conflict of Interest Standard in ERISA Plan Administrators’ Benefit Determinations.Ford & Harrison LLP - January 24, 2008 In a decision that could significantly impact ERISA plan administrators, the U.S. Supreme Court has granted certiorari in Metlife v. Glenn (U.S., No. 06-923, cert. granted 1/18/08), a case in which the Sixth Circuit reversed the decision of a plan administrator denying benefits under a long term disability plan. In Metlife, the Supreme Court will determine whether the Sixth Circuit erred when it held that the fact that an ERISA plan administrator also funds plan benefits, without more, constitutes a conflict of interest that should be considered by courts in reviewing a plan administrator’s benefit determination. Additionally, if the Court determines that this situation creates a conflict of interest, it will address how that conflict should be taken into account by a court reviewing a discretionary benefit determination. Report Link New Distribution Alternative Required Under Certain Qualified Plans.Fredrikson & Byron, P.A. - January 10, 2008 Beginning in 2008, all plans that have annuity distribution provisions (other than pure term-certain annuities) must offer an annuity alternative that provides for a life annuity for the participant with a survivor annuity for the participant’s spouse equal to either (i) 75 percent of the benefit payable during the participant’s lifetime if the normal form of annuity is a qualified joint and less than 75 percent survivor annuity or (ii) 50 percent of the benefit payable during the participant’s lifetime if the normal form of annuity is a qualified joint and 75 percent or greater survivor annuity. Report Link New Rules Permit 2% Shareholder-Employee To Deduct Employer-Paid Accident and Health Premiums and Reimbursements.Littler Mendelson, P.C. - January 03, 2008 On December 13, 2007, the Internal Revenue Service issued Notice 2008-1 providing rules under which a 2% shareholder-employee in an S corporation is entitled to an income tax deduction for accident and health insurance premiums that are paid or reimbursed by the S corporation and included in the 2% shareholder-employee's gross income. Report Link IRS Expands Medical Expense DeductionsLittler Mendelson, P.C. - December 17, 2007 The IRS recently issued Revenue Ruling 2007-72 expanding Internal Revenue Code Section 213(a) to allow a medical expense deduction for certain diagnostic procedures. Section 213(a) of the Code allows individuals to deduct medical care expenses which are not covered by insurance as long as the expenses exceed 7.5% of the individuals adjusted gross income. Group health plans and health flexible spending account plans often reference Section 213(a) to describe the type of benefits that may be covered by a plan. Report Link eBenefits Alert: A Year-End Summary of Significant Changes in Employee Benefits & Executive Compensation LawGray Plant Mooty - December 12, 2007 For professionals working in the areas of Employee Benefits & Executive Compensation, the wonder and anticipation of the holidays are always joined by two other year-end phenomena: effective dates and deadlines. This eBenefits Alert discusses the most significant changes in the employee benefits arena that you should be thinking about as 2007 becomes 2008. Links to more detailed discussions are included for some topics. Report Link IRS Announces Adjusted Plan Limits for 2008.Cooley Godward Kronish LLP. - November 08, 2007 The Internal Revenue Service has announced the 2008 adjusted limits that affect the operation of tax-qualified retirement plans, including 401(k) plans, and certain other types of employee benefit plans. Please see the table below for these new adjusted limits, effective January 1, 2008. Report Link The Final Word on Separation Pay Under Tax Code §409A (pdf).Ford & Harrison LLP - July 23, 2007 Separation pay is ubiquitous. It is paid as a post-termination benefit under employment agreements and written severance plans, as well as under unwritten programs, practices and other arrangements. Until §409A was added to the Internal Revenue Code, few thought of it as “deferred compensation.” But under §409A, if a legally binding right to separation pay is created in one year, and may be paid in another year, it constitutes non-qualified deferred compensation. Report Link IRS Will Not Challenge Local Lodging Expenses for Employees If Lodging Is Necessary to Participate in a Business Meeting or Function.Littler Mendelson, P.C. - July 06, 2007 In an about face from a position held for many years, the IRS recently announced that it would no longer challenge an employer's deduction for lodging expenses incurred by an employee in the metropolitan area where the person lived, provided that the lodging is necessary to take part in a meeting or other function of the employer. Report Link Employer Mandated Wellness Initiatives: Respecting Workplace Rights While Controlling Health Care Costs.Littler Mendelson, P.C. - May 08, 2007 This Littler Report discusses how far an employer can go toward mandating wellness in the workplace. With health care costs projected to double by 2016, reaching $4.2 trillion and representing 20 percent of every dollar spent, no employer can afford to leave this question unanswered. Health care costs and employer contributions toward health care premiums have increased to the level that they often determine whether a profit is made or whether the employer can continue in business. Employers are seeking new solutions to help curb these increases. This Report discusses whether mandatory wellness programs are viable options given the current state of law. Report Link The President's New Employment Tax Proposals Create Potential Challenges for Employers.Littler Mendelson, P.C. - April 03, 2007 How will the the President's 2008 budget proposal impact employer taxpayer compliance? Report Link Can An Employer Exclude Certain Classes of Employees From Health Plan Coverage? (pdf).Ford & Harrison LLP - December 04, 2006 As employer health plan costs continue to increase, many employers are considering not only whether to cutback on health benefits coverage, but also whether to exclude certain employees from the company’s plan altogether. In addition to cost, group health benefits are not a significant factor in recruiting or retaining employees in some industries, where increases in wages are the predominant concern. Report Link Diversification Rights and Notice Requirement for Retirement Plans with Investment in Employer Securities -- IRS Delays Date for Providing Notice and Issues Model Notice.Cooley Godward Kronish LLP. - December 04, 2006 As we previously reported, the Pension Protection Act of 2006 (the “Act”) made significant changes to the laws governing retirement plans. While the effective dates of many of these changes are staggered over the next several years, there are two related changes that are effective almost immediately, for plan years beginning on or after January 1, 2007. Report Link IRS Announces 2007 Cost of Living Adjustments For Retirement Plans.Jackson Lewis LLP - November 10, 2006 The Internal Revenue Service recently announced its cost-of-living adjustments applicable to dollar limitations for retirement plans and Social Security generally effective for Tax Year 2007 (see IR?2006-162). The adjustments to the dollar limits are as follows: Report Link Benefit Plans: 2007 Cost-Of-Living And Statutory Adjustments.Fredrikson & Byron, P.A. - November 03, 2006 The Internal Revenue Service has announced cost-of-living and statutory adjustments to certain employee benefit plan dollar limitations for 2007. Report Link . . . .with Liberty and Health Care for AllLittler Mendelson, P.C. - October 10, 2006 More than 10 years after President Clinton's health care plan failed to win Congressional approval and subsequent federal inaction, state legislatures and municipal governments across the country are stepping forward to regulate health care. One lesson of the failed Clinton plan is that wholesale change is not politically possible, in large part because there is no consensus on whether and how to create universal health care coverage. Governors, state legislatures and local governments have learned this lesson and are, instead, incrementally adopting elements of the Clinton plan along with numerous other reform proposals. Report Link Congress Enacts Sweeping Pension Legislation (pdf).Ogletree Deakins - August 07, 2006 On August 3, 2006, the Senate passed HR 4, which will be known as the Pension Protection Act of 2006 once it is signed into law. Report Link Federal Court Strikes Maryland's Health Care Mandate.Ford & Harrison LLP - July 21, 2006 A federal court in Maryland has held that Maryland's recently enacted "Fair Share Act" is pre-empted by federal law and, thus, unenforceable. Report Link IRS Paves Way for Better, Faster Account-Based Health Plans (pdf).Ogletree Deakins - July 20, 2006 Employers will have the tools to make their plans more efficient. Report Link Deadline for Qualified Plans Seeking IRS Determination Letter.Ford & Harrison LLP - June 16, 2006 The Internal Revenue Service (IRS) recently changed its procedures for seeking favorable determination letters for qualified retirement plans. For individually-designed plans, the IRS has created staggered five-year "cycles" for seeking favorable determination letters. For certain plans, the deadline for seeking a favorable determination is January 31, 2007. Click here for a summary of the new determination letter procedures. Report Link PBGC Finalizes Mandatory Electronic Filing.Ford & Harrison LLP - June 06, 2006 The Pension Benefit Guaranty Corporation (PBGC) has finalized rules that require defined benefit plans to make premium filings electronically. Report Link Handling Mutual Fund Settlement Proceeds (pdf).Ford & Harrison LLP - May 24, 2006 In several enforcement matters brought before the
Securities and Exchange Commission (“SEC”), the
SEC has awarded settlement funds to mutual fund
investors who have been harmed by alleged late trading
and market timing activities. Report Link Firms Expect Increase in Health Costs (pdf).Ford & Harrison LLP - April 06, 2006 Employers are bracing for another 8 percent rise in health benefit
costs in 2006 and 2007, according to a recent survey published
by Watson Wyatt Worldwide and the National Business Group on
Health. Report Link Benefit Plans: 2006 Cost-of-Living And Statutory Adjustments.Fredrikson & Byron, P.A. - November 11, 2005 The Internal Revenue Service has announced cost-of-living and statutory adjustments to certain employee benefit plan dollar limitations for 2006. The 2006 limitations are as follows: Report Link Hurricane-Related Tax Breaks and Exemptions for Employers (pdf).Nexsen Pruet - October 03, 2005 As employers in North and South Carolina join the nation’s effort to help the Gulf
States recover from Hurricane Katrina, employers should be aware that the federal
government has implemented tax breaks and exemptions from various legal requirements
so affected employers can better respond to the disaster. Report Link Impact of New Bankruptcy Act on Employee Benefit Plans (pdf).Vedder Price - July 05, 2005 The Bankruptcy Abuse Prevention and Consumer
Protection Act of 2005 (the “Act”), signed by
President Bush on April 26, 2005, includes a number
of provisions relating to employee benefit plans. This
article summarizes the major changes. Except as
otherwise noted, these changes are effective for
bankruptcy filings on or after October 17, 2005. Report Link 'Creative' Plan Limits Employer's Obligation To Pay Medical Expenses (pdf).Ogletree Deakins - June 03, 2005 The federal appellate court with jurisdiction over Illinois recently held that an employee’s spouse’s (or secondary) plan was responsible for a majority of her medical bills. Based on
the plain language of the health care plans at issue, the Seventh Circuit Court of Appeals found, the employersponsored plan was only required to pay $1,000 of the $160,000 in medical
expenses incurred by the employee. Report Link Employee Benefits Advisory: Automatic Rollover Requirements Apply Starting March 2005 (pdf).Hughes Hubbard & Reed LLP - December 22, 2004 All qualified plans will be required to comply with new automatic rollover
requirements for distributions made after March 27, 2005. Plan sponsors should
begin planning now in order to be in a position to comply with these requirements
when they become effective. Report Link Summary of Selected New Provisions; Effective Dates and COLA for 2005.Cooley Godward Kronish LLP. - December 22, 2004 This Cooley Alert briefly summarizes selected benefit-related new provisions, effective dates and inflation adjustments for 2005. Report Link Imminent Changes to Certain Tax Code Definitions May Impact Your Company's Employee Benefit Plans.Jackson Lewis LLP - November 24, 2004 The Working Families Tax Relief Act of 2004, signed by President Bush on October 4, 2004, among other things, amends the definition of "dependent" used in the Internal Revenue Code for various tax purposes. Report Link United Airlines' Pension Problem: Who, Ultimately, Is Going to Pay?Knowledge@Wharton (Reg Required) - September 09, 2004 United Airlines' proposal to halt payments to its pension funds suggests serious problems for the nation's pension-guarantee system, according to Wharton faculty and pension experts. The troubled airline, which declared bankruptcy in December 2002, said in July that it would stop funding its pension plans while it struggles to restructure under bankruptcy protection. The question is, how many other companies will renege on their pension obligations? And if the pension system collapses, will taxpayers foot the bill, just as they did for the S&L crisis in 1989? Report Link Reduction or Cancellation of "Underwater" Note Results in Income to Employee.Cooley Godward Kronish LLP. - March 09, 2004 Employers often permit employees to purchase employer stock using a promissory note as payment. Report Link How to Obtain Employee Benefit Documents from the Labor Department.Department of Labor - August 01, 1998 How to Obtain Employee Benefit Documents from the Labor Department. Report Link Resource Site.CCH - (No Date) This section of CCH's Business Owner's Toolkit contains summaries of the most prominent federal employment law statutes. Report Link ERISA Summary.Department of Labor - (No Date) DOL's Compliance Assistance page for ERISA.
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September 9, 2008 Nexsen PruetEmployee Free Choice Act: Labor’s Attack on Your Employees’ Right to ChooseOnline
September 9, 2008 McGuire Woods |
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