In the race to pass a budget reconciliation bill by President Donald Trump’s self-imposed deadline of July 4, 2025, the House and Senate initially proposed varying provisions in the bill about health savings accounts (HSAs). While the House made major changes to the HSA section, the Senate’s version of the bill stripped out those changes. Ultimately, Congress adopted only one major change to HSAs, which involves Read More
Senators Urge DOL to Reinstate Cryptocurrency Guidance for 401(k) Plans
Under former President Joe Biden, the U.S. Department of Labor (DOL) issued a warning to fiduciaries in 2022 about the potential hazards of adding a cryptocurrency option to their 401(k) plans. However, in May 2025, the DOL abruptly rescinded that guidance. In response, four ranking Democratic members of the Senate are urging DOL Secretary Lori Chavez-DeRemer to recognize the “extremely volatile” nature of Read More
Federal Judge Saddles CVS Caremark with $95 Million Judgment
A federal judge in Pennsylvania recently issued a ruling finding that CVS Caremark Corp., a pharmacy benefits manager (PBM), owed the federal government $95 million for overbilling Medicare Part D-sponsored drugs. The Court did not rule on the government's request for treble damages, leaving that issue for a later date after the parties have briefed it. When Caremark handled Medicare Part D sponsored plans for Read More
EEOC Acting Chair Claims Agency Subject to Presidential Orders, Not an Independent Agency
Andrea Lucas, Acting Chair of the U.S. Equal Employment Opportunity Commission (EEOC), stated during her confirmation hearing that the agency is not independent and is subject to lawful presidential directives. Questioning by Democratic lawmakers during her confirmation hearing led Lucas to acknowledge that her 2021 social media post (then on Twitter) incorrectly characterized the EEOC as an independent agency. She Read More
Federal Judge Strikes Down Provision Requiring Workplace Accommodation for Abortions in Pregnant Workers Fairness Act Rule
A judge in a Louisiana federal district court has invalidated a provision in an April 2024 final rule implementing the Pregnant Workers Fairness Act (PWFA). According to the judge, a provision of a U.S. Equal Employment Opportunity Commission (EEOC) rule defining abortion as a "related medical condition" under the PWFA is unconstitutional because it goes beyond the scope of the original legislation. The judge Read More
Western Milling Employee Stock Plan Files ERISA Class Action Over ESOP
Jose Davalos, a former employee of Western Milling LLC, has filed a class action lawsuit in a California federal court, alleging that the company forced the sale of its employee stock ownership plan (ESOP) assets at an unreasonably low price. In preparation for a larger transaction in which Western Milling was sold to Viserion Milling LLC, Western Milling’s ESOP sold about two million Kruse-Western shares back to the Read More
401(k) Pension Plan Participants File Class Action Against National Rural Electric Cooperative Based on ERISA Violations
Two 401(k) pension plan participants have filed a class action lawsuit against the National Rural Electric Cooperative Association (NRECA) in a Virginia district court. They allege ongoing Employee Retirement Income Security Act (ERISA) violations, including breaches of fiduciary duties, such as financial mismanagement, self-dealing, and excessive fees. The plaintiffs claim that NRECA’s violations have cost Read More
Appellate Panel Appears Skeptical of Morgan Stanley’s Position on ERISA in Deferred Compensation Plan Case
In an ongoing battle over its deferred compensation plan, Morgan Stanley has asked a panel of the U.S. Court of Appeals for the Second Circuit to condemn the lower court's finding that its plan falls under the Employee Retirement Income Security Act (ERISA). Even though the financial services firm won its bid to compel arbitration, it continues to argue that the court improperly considered whether its plan is subject Read More
DOL Announces Multi Agency Opinion Letter Program to Provide Guidance
The U.S. Department of Labor (DOL) has announced an opinion letter program that five of its agencies will utilize to create more accessible guidance concerning federal labor laws. Participating agencies include the Employee Benefits Security Administration (EBSA), the Wage and Hour Division, the Occupational Safety and Health Administration (OSHA), the Veterans’ Employment and Training Service, and the Mine Safety Read More
U.S. Supreme Court Rules ADA Doesn’t Cover Disabled Retired Employees
In Karyn D. Stanley v. City of Sanford, Case Number 23-997, the U.S. Supreme Court held that former employees who are unable to fulfill their job duties due to disability may not bring an Americans with Disabilities Act (ADA) claim concerning changes to their post-employment health benefits. Seven of the nine justices agreed that the ADA prohibits discrimination only against employees who can complete their job Read More
