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609 Matching News Items
1.
Important Takeaways for Employers Following the EEOC's Final Rule Implementing the Pregnant Workers Fairness Act
The Wagner Law Group
May 14, 2024
The Wagner Law Group
May 14, 2024
"This alert outlines employers’ duties under the new law, provides clarity on pregnant workers’ rights and protections, and guides employers on ways to minimize risk and liability under the PWFA."
2.
Attention Investment Managers: QPAM Matters for Immediate Review
The Wagner Law Group
May 13, 2024
The Wagner Law Group
May 13, 2024
"It is essential for existing QPAMs and asset managers to ... [consider] the following: [1] Preparing their one-time notice to the [DOL] ... within 90 days of June 17, 2024.... [2] Reviewing and updating their policies and procedures to ensure they align with the new requirements set by the Amendment ... [3] Evaluating their current financial status by December 31, 2024 ... [4] Reviewing record-keeping practices to ensure they maintain the required records for six years and that they are accessible for examination."
3.
Further Thoughts on Sellers v. Boston College
Stephen Rosenberg, The Wagner Law Group
May 9, 2024
Stephen Rosenberg, The Wagner Law Group
May 9, 2024
"The problem with [the Sellers reasoning] is that it treats fiduciary prudence as infinite, as something that can always be challenged in court as having been insufficient no matter how much was done ... At some point, a fiduciary has engaged in more than enough prudence to satisfy the statutory obligation ... [T]here is always more that could be done, but that alone shouldn't preclude finding that a fiduciary did, in fact, enough." [Sellers v. Trustees of Boston College, No. 22-10912 (D. Mass Apr. 11, 2024)]
4.
DOL's New Investment Advice Fiduciary Rule and Related Exemption Amendments
The Wagner Law Group
May 8, 2024
The Wagner Law Group
May 8, 2024
"[W]ith this new package DOL believes it has addressed the concerns articulated by the Fifth Circuit in a way that advances the DOL’s concerns about the harm suffered by those who receive conflicted advice. If the DOL’s rule stands, going forward, a new somewhat nuanced paradigm will prevail and, in many instances, financial salespeople and insurance agents will be held to a relationship of trust and confidence with their retirement investor customers[.]"
5.
Ban on Non-Competition Agreements: What Employers Need to Know and Do Now
The Wagner Law Group
May 3, 2024
The Wagner Law Group
May 3, 2024
"Not-for-profits should perform a careful analysis to determine if they are subject to the final rule or if any of their businesses are subject to the final rule before any notices are sent to employees.... [E]mployers concerned with protecting their confidential and proprietary information should not only eliminate non-competes from their employment agreements but also carefully review and revise non-solicit, non-disclosure, and other restrictive covenants to ensure that they are narrowly tailored to protecting the employer's confidential and proprietary information."
6.
IRS Clarifies That Work-Life Referral Services Are Not Taxable Benefits
The Wagner Law Group
Apr. 25, 2024
The Wagner Law Group
Apr. 25, 2024
"These services are restricted to informational and referral consultations that assist employees with identifying, contacting and negotiating with life-management resources for solutions to a personal, work, or family challenge.... WLR programs may be available to a significant portion of an employer's employees, but they are used infrequently by employees and only when an employee faces one of the particular challenges the programs are designed to address.... [T]he Fact Sheet concludes that, under these circumstances, WLR programs are exempt from taxation under Section 132(e)."
7.
Agencies Revise Notice for Fixed Indemnity Insurance
The Wagner Law Group
Apr. 18, 2024
The Wagner Law Group
Apr. 18, 2024
"The final rules revise the consumer notice that is currently required for fixed indemnity excepted benefits coverage in the individual market and establish a new requirement to provide a consumer notice in the group market. Plans and issuers must prominently display the notice in marketing, application, enrollment, and reenrollment materials."
8.
Fifth Circuit: Employee Must Provide Adequate Notice of Need for FMLA Leave
The Wagner Law Group
Apr. 12, 2024
The Wagner Law Group
Apr. 12, 2024
"The Fifth Circuit observed that while the employer knew about the father’s condition, the employee did not express an intent or desire to take leave, let alone FMLA leave. Accordingly, it determined that that was insufficient to put the employer on notice that the employee intended to take leave or that that leave qualified for FMLA protection." [Cerda v. Blue Cube Operations, No. 23-40404 (5th Cir. Mar. 19, 2024)]
9.
Mutual Mistake Under ERISA (PDF)
The Wagner Law Group, via Benefits Law Journal
Mar. 25, 2024
The Wagner Law Group, via Benefits Law Journal
Mar. 25, 2024
"[B]ecause reformation is a form of equitable relief, courts have sustained claims for equitable relief under ERISA Section 502(a)(3).... [In] the absence of fraud or inequitable conduct, a unilateral mistake will generally not justify the equitable reformation of a contract ... In the context of ERISA plans, mistake is measured by comparing the actual terms of the plan to the baseline of the beneficiaries' objective, reasonable expectations about the scope of benefits provided."
10.
Pension Risk Transfers and the Continuing Concern About Buying a Pig in a Poke
The Wagner Law Group
Mar. 21, 2024
The Wagner Law Group
Mar. 21, 2024
"How [to] handle the novel types of relief requested in the complaints, especially in light of the fact that no participant has yet to suffer an unpaid pension benefit, may well be important issues that the courts will want to address. As the cases move through the courts, the [DOL] will presumably continue its consideration of changes to IB 95-1 as directed by Congress in SECURE 2.0.... Further, beyond its impact on any pending litigation, the [DOL's] future report to Congress as required by SECURE 2.0 may well impact future PRTs."
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