Employee benefit plans typically gather, use, and maintain confidential data about plan participants. Employers, plan sponsors, and fiduciaries must use cybersecurity best practices to protect this information. In this article, we will explore some cybersecurity techniques applicable to employee benefit plans. At this time, the Employee Retirement Income Security Act of 1974, as amended (“ERISA”) provides no clear Read More

Noncompliance with government regulations can occur simply by lack of understanding the finer points of those regulations. For example, it’s simply impossible for a quick read of ERISA to give you all the information you need to avoid HIPAA noncompliance penalties. In this article, we will examine how consulting with ERISA counsel can give you the in-depth information you need.   Top HIPAA Noncompliance Read More

In recent years, we have seen challenges to the exemption for church-sponsored pension plans contained in the Employee Retirement Income Security Act of 1974 (ERISA). A U.S. Supreme Court decision in 2017 (Advocate Health Care Network et al. v. Stapleton et al.) seemed to settle the argument that plans offered by church-affiliated hospitals still qualified for the exemption. However, it now appears that Read More

Arbitration is an oft-used form of alternative dispute resolution. Two or more parties fail to resolve a disagreement, they may turn to arbitration. But is it better to litigate or arbitrate? The answer to this question depends on a number of factors. When it comes to arbitrating ERISA fiduciary claims, the situation becomes even more complex. Is arbitration the best solution? Are there any downsides to solving an Read More

Occasionally an employee may experience a serious financial need. With no other help available, raiding a retirement plan may be the only option. Prior to 2019, employees and employers alike may have faced hurdles when wrestling with a hardship distribution. Due to new laws, however, hardship distribution rules are changing in 2019.     Bipartisan Budget Act of 2018 On February 9, 2018, President Trump Read More

Missing people, missing money. It’s hard to believe people would leave retirement funds behind when they move to a new job. But it happens. In fact, many people fail to roll over retirement plans when they move to a new employer. Plan administrators and sponsors then are faced with a dilemma – and sometimes unclear or evolving guidance from government agencies that oversee employee retirement plans. Currently, the Read More