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About this Blog
Welcome to the Snell & Wilmer Benefits Blog. We will be posting about current employee benefits and executive compensation topics and issues. We invite you to contact the authors with your thoughts or questions.Blog Contributors
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To the Moon After All? DOL Targets Cryptocurrency in Retirement Plans
In Compliance Assistance Release No. 2022-01 (the “Release”), the Department of Labor (the “Department”) signaled its intention to scrutinize inclusion of cryptocurrency assets and crypto-derivative products as investments in ERISA-covered retirement plans. In particular, the Release articulates the Department’s view … Continue reading
Posted in Employee Benefits, Qualified Retirement Plans
| Tagged 2022-01, audit, Bitcoin, brokerage window, Compliance assistance release, crypto, cryptocurrency, Department of Labor, DOL, EBSA, ERISA, fiduciary, investigation
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An Interesting Intersection: No Surprises Act Claims and the New Fee Disclosure Requirements for Group Health Plans
As reported in our January 7, 2022 SW Benefits Blog “The DOL Asks and Answers Questions About the New Welfare Plan Fee Disclosure Rules,” group health plans must now comply with the ERISA Section 408(b)(2) disclosure requirements. The CAA amended … Continue reading
Posted in Employee Benefits, Health & Welfare Plans, Health Care Reform
| Tagged DOL, fee disclosure, Group health plans, no surprises act, NSA, texas medical, to do list, TPA
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The DOL Asks and Answers Questions About the New Welfare Plan Fee Disclosure Rules
In Field Assistance Bulletin 2021-03 (12/31/21) (FAB), the Department of Labor (DOL) issued guidance and temporary enforcement policy to address the new 408(b)(2) disclosure requirements that apply to certain service providers to group health plans. The Consolidated Appropriations Act of … Continue reading
Posted in Employee Benefits
| Tagged DOL, FAB 2021-03, fee disclosure, Field Assistance Bulletin, welfare plan
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With a New Administration, Will the Department of Labor’s Fiduciary Rule Once Again be Revised?
The Department of Labor’s (the “DOL”) attempts to regulate the conduct of fiduciaries under ERISA and the Code has been mired in controversy. In 2010, the Obama administration’s DOL proposed a fiduciary regulation that was met with so much criticism … Continue reading
Posted in Employee Benefits, Qualified Retirement Plans
| Tagged DOL, ERISA, fiduciary duty, financial institutions, iras, plan investments
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Final DOL Rule Imposes Fiduciary Limitations on Social Investing
The DOL recently issued a final rule (“Rule”) providing guidance on the long-standing issue of whether ERISA fiduciaries are permitted to consider non-pecuniary factors while making investments (or selecting investment funds) that promote one or more environmental, social or corporate … Continue reading
Posted in Employee Benefits, Qualified Retirement Plans
| Tagged DOL, environmental, ERISA, ESG, ESG Investments, fiduciary, governance, social
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Department of Labor Issues Final Electronic Disclosure Rule
On May 21, 2020, the Department of Labor (the “DOL”) announced a final rule establishing a new electronic disclosure safe harbor. The new safe harbor permits retirement plan administrators to deliver certain plan documents by one of two methods: (1) … Continue reading
Posted in Employee Benefits, Qualified Retirement Plans
| Tagged DOL, electronic disclosure, internet availability, NOIA, paper notice, plan administrator, safe harbor
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DOL Finalizes Regulations Requiring Electronic Filing of Top Hat Statements
On June 17th the Department of Labor finalized a set of proposed regulations requiring that all “top hat” plan statements be filed with the Department electronically though this website. As brief background, a “top hat” statement is a one-time filing … Continue reading
Posted in Executive Compensation
| Tagged DOL, ERISA, non-qualified plan, top hat statement
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Authorized Representatives – Fresh Look at an Old Rule
Earlier this year, the Department of Labor issued an information letter explaining ERISA’s authorized representative requirement. Below are some of the takeaways employers may want to consider. 1. The Authorized Representative Requirement Under ERISA ERISA’s claims procedure regulations expressly give … Continue reading
Posted in Employee Benefits, Health & Welfare Plans, Health Care Reform
| Tagged appeals, authorized representative, claims, DOL, ERISA, health plan
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New Disability Claims Regulations Take Effect for All Plans April 1, 2018
As noted in our previous blog post, The New Disability Claims Regulations: They Don’t Only Apply to Disability Plans, the Department of Labor (“DOL”) issued regulations that revise the ERISA claims procedure regulations for all employee benefit plans that provide … Continue reading
Posted in Employee Benefits, Health & Welfare Plans, Health Care Reform
| Tagged ACA, Affordable Care Act, claims, disability, DOL, EBSA, ERISA, regulations
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Potential $2.4 Billion and Countless Trees Saved – Department of Labor’s Proposed Rule on Electronic Disclosure for Retirement Plans
The Department of Labor recently issued a proposed rule that allows certain retirement plan disclosures to be posted online, rather than requiring such disclosures to be printed and mailed. The Department of Labor anticipates this rule, if finalized, would save … Continue reading →
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