According to Section 104(b)(4) of ERISA, your benefits administrator may receive periodic written requests for “a copy of the bargaining agreement, trust agreement, contract, or other instrument under which the plan is established or operated.” Service provider agreements are typically long and complicated documents. They can be confidential in nature. These documents are critical in disputes over the plan’s Read More

New regulations from the Department of Labor (DOL) regarding Multiple Employer Plans (MEPs) are set to take effect later this year. Specifically, they outline three different types of MEPs and how the DOL will look at the unrelated businesses banding together to form the MEP. In particular, Association MEPs (also called Association Retirement Plans) are of interest to many employers, as they arise for a “bona fide Read More

ERISA has numerous financial penalties that can impact businesses. While these are designed to drive behavior and serve as a deterrent, it also means that certain types of fiduciary mistakes can lead to the levy of monetary damages.  A recent case found that even innocent mistakes can still result in such penalties. DeRogatis v. Board of Trustees The Southern District of New York recently focused on the common Read More

The ongoing case, Sweda v. the University of Pennsylvania, is currently before the U.S. Court of Appeals for the Third Circuit. The Third Circuit ruled that the district court erred in granting the University’s motion to dismiss. This is a major setback for the University in their current ERISA fee and fiduciary breach case. The case alleged that the fiduciaries responsible for the University’s retirement plan Read More

Employers offer group health plans because they’re required to by law or, if they’re smaller employers, because they feel it is an important benefit for their team. Any individual involved with a group health plan who maintains discretion over plan assets or administration is a fiduciary with certain associated responsibilities. Specifically, employers sponsoring group health plans are subject to the Employee Read More

Many businesses use health reimbursement arrangements (HRAs). Recently finalized guidance from the Trump Administration, effective beginning in 2020, offers additional opportunities for businesses to utilize HRAs. Employers with more than 50 full-time employees must offer ACA-compliant health coverage and HRAs offer an option different from providing traditional group health plans. HRAs under the new rules must meet Read More

Recently, the Securities and Exchange Commission (SEC) adopted a new set of rules and related interpretations that include increased standards for broker-dealers and offers clarification around the duties of registered investment advisors (RIAs). These rules are focused on retail investors including individual retirements accounts (IRAs), health savings accounts (HSAs), and retirement rollover plans. This new Read More

Ace Hardware Company is a retailer cooperative that serves over 2,700 retail store owners operating over 4,400 stores as well as 120 corporate stores. Recently, they requested an opinion from the Department of Labor (DOL) regarding whether its health plan qualified as an association health plan (AHP) and a multiple employer welfare arrangement (MEWA). ACE: Retail and Healthcare Cooperative? The hardware cooperative Read More

Recently, a federal district court heard a lawsuit where patients argued that healthcare providers and healthcare recordkeepers were charging fees for patients to access their medical records. Under HIPAA, healthcare providers are required to provide an individual a copy of their medical records upon request. They have the right to inspect, transmit copies, or get a copy of the records. The Department of Health and Read More