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Plans face new a new erosion of their powers to recover the full amount of benefits paid in third-party recovery cases. Attorneys with Epstein Becker and Green discussed these and other trends in a Sept. 13 audio conference on benefit claim denial litigation. Plans Face Diminishing Ability to Recover The growing ability of plaintiffs to […]
Reimbursement rates for lodging, meals and incidental expenses for fiscal year 2013, which begins Oct. 1, will be frozen at FY 2012 levels, the U.S. General Services Administration announced Aug. 27. GSA is the arm of the federal government that sets travel policy for federal employees. The reimbursement rates, commonly called per diems, determine the […]
What Is HR Responsible For? HR covers a lot of territory as the chart shows. No surprise that benefits and compliance are near universal, but it is interesting that 43% are responsible for safety/security, 10% have operational responsibilities, and 15% wear a facilities management hat. Type of Responsibility Percent of respondents indicating they have that […]
Employers may use look-back periods of up to 12 months, rather than a shorter period as initially established — to average out how many hours an employee works per week, which is a necessity when calculating an employer’s obligation under reform’s play-or-pay provisions. IRS Notice 2012-58 may help some employers escape erroneous shared-responsibility payments under health […]
A Christian liberal arts college lost a bid to secure a court ruling that would both characterize the health reform’s contraceptive mandate as improper and enjoin the government from enforcing it. It’s one of 26 challenges to the mandate that health plans cover contraceptives without patient cost-sharing. On Aug. 24, the U.S. District Court for […]
SEC efforts to tighten rules on the $2.56 trillion money market fund industry are on indefinite hold. Trade organizations representing the retirement plan and asset management industries wrote a joint letter to SEC Aug. 21 criticizing money market reforms on which the commission was slated to vote Aug. 29. The letter urged SEC not to […]
Twelve well-known U.S. financial services industry figures will meet Sept. 11 with the chairman of the Securities and Exchange Commission to discuss their “Fiduciary Declaration,” which will urge Congress and the agency to heighten protection for those receiving investment advice. The declaration, to be signed by Paul Volcker, John C. “Jack” Bogle, Sheila Bair and […]
A Connecticut-based fiduciary investment adviser agreed in a settlement to pay about $1.3 million to 13 pension plans to resolve alleged ERISA violations related to mutual fund fees the firm received. USI Advisors Inc. made investments in mutual funds on behalf of ERISA-covered defined benefit plan clients and received 12b-1 fees from those funds, according […]
Concerns are mounting in the United States about the increase in retirement plan “leakage” — hardship early withdrawals and loans being taken against such plans during tough economic times. As more Americans deplete their retirement savings to meet emergency expenses resulting from long-term unemployment, tightened credit or high medical expenses, policy makers are seeking ways […]
Non-federal governmental plans may omit language describing how participants can seek remedies under ERISA in notices to be given when the plan makes an adverse decision. Notices of adverse benefit determinations are required as part of health reform’s claims appeal and external review rules. Such plans need not include the language because ERISA remedies are […]