On March 10, the U.S. Department of Labor (“DOL”) issued Field Assistance Bulletin No. 2017-01, which provides transitional relief from enforcement actions related to compliance with the DOL’s final Fiduciary and Conflict of Interest Rule (“Fiduciary Rule”) and related Prohibited Transaction Exemptions (“PTEs”). The DOL’s Fiduciary Rule is currently scheduled... Continue reading

In the Presidential Memorandum on Fiduciary Duty Rule ("Presidential Memorandum") issued on February 3, 2017, President Trump ordered the Department of Labor “(“DOL”) to “examine the Fiduciary Duty Rule to determine whether it may adversely affect the ability of Americans to gain access to retirement information and financial advice,” with... Continue reading

The recent enactment of the 21st Century Cures Act brings much sought after, though limited, relief for small employers under the Affordable Care Act ("ACA"). Under the new law, small employers (i.e., those that are not "Applicable Large Employers" under the ACA because they do not employ 50 full-time employees)... Continue reading

On May 17, 2016, the Equal Employment Opportunity Commission (EEOC) issued new rules which apply standards under the Americans with Disabilities Act (ADA) to employer-sponsored wellness programs. The EEOC’s new ADA wellness program rules apply to all wellness programs that make disability-related inquiries or ask employees to submit to a... Continue reading

Nine class actions lawsuits against universities have been filed in the last week, with each lawsuit alleging breaches of fiduciary duty related to the fees charged and the investment options offered to participants in the universities’ 403(b) plans. These lawsuits – eight of which were filed by the same St.... Continue reading

In Santana-Diaz v. Metropolitan Life Insurance Co., No. 15-1273 (1st Cir. Mar. 14, 2016), the First Circuit became the latest Federal Court of Appeals to hold that an ERISA plan administrator must include notice of its plan’s contractual time limit for filing a lawsuit in the plan’s final claim denial letter or the contractual time limit will be rendered inapplicable. Continue reading

During a conference call on April 5, 2016, Labor Secretary Thomas Perez indicated that the long-awaited final Fiduciary Rule will be released today, April 6th. In a release, the administration explained that “[u]nder the rule, any individual receiving compensation for making investment recommendations that are individualized or specifically directed to... Continue reading

In Marin v. Dave & Buster’s, Inc. S.D.N.Y., No. 1:15-CV-03608, (May 8, 2015), a former employee filed a class action suit claiming Dave & Buster’s moved her and others to a part-time schedule to avoid providing benefits under the Affordable Care Act. The case is being closely watched because it... Continue reading