Verrill Dana, LLP

Verrill Dana is a full service law firm with more than 130 attorneys and a growing number of service-based practice groups. The firm has a regional presence in the Northeast, with offices from Maine to Washington, D.C., allowing us to serve clients with interests across the country and around the world. Through scalable staffing, careful communication and skillful project management, Verrill Dana helps individuals and businesses achieve their goals in a manner that suits their unique legal needs and preferred work methods.

The Mental Health Parity and Addiction Equity Act (“MHPAEA”) provisions of the Consolidated Appropriations Act, 2021 (“CAA”) introduced a requirement that group health plans and insurance providers offering both medical and surgical benefits (“M/S benefits”) and mental health and substance use disorder benefits (“MH/SUD benefits”) that impose non-quantitative treatment limitations (“NQTLs”) must conduct and document a detailed comparative analysis of the design and application of the NQTLs. An NQTL is any restriction on the scope…
The Internal Revenue Service has updated the Employee Plans Compliance Resolution System (EPCRS) in several respects that will be helpful to retirement plan sponsors. Revenue Procedure 2021-30, published July 16, 2021, replaces the previous version (Rev. Proc. 2019-19) in its entirety. Most provisions of the new EPCRS were immediately effective, but several changes are delayed to January 1, 2022. The new guidance provides more flexibility in making corrections: The period for self-correcting…
Lifetime Income Disclosure Requirement. The Setting Every Community Up for Retirement Enhancement Act of 2019 (the “SECURE Act”), enacted December 20, 2019, added a new annual disclosure requirement for benefit statements to participants and beneficiaries. The new disclosure requirement applies to all ERISA-covered defined contribution plans (e.g., 401(k) and 403(b) plans), regardless of whether annuities are offered under the plan. The lifetime income disclosure must provide two illustrations showing the monthly amount a participant or…
Click here to view as a PDF. This Client Advisory summarizes developments in the law governing employee benefit plans prompted by the COVID-19 pandemic. We explain what these developments mean for plan sponsors and highlight the need to adopt plan amendments within limited time periods in order to fully implement pandemic-related changes. As plan amendment deadlines approach, plan sponsors should inventory changes made to their employee benefit plans in response to pandemic-related changes in law.…
The Acme Rocket Sled Company Retirement Plan Administration Committee recently selected a new investment advisor for the company’s 401(k) plan. During the RFP process, the new advisor observed that the Investment Policy Statement (IPS) that the committee adopted many years ago was a bit thin and out of date. The new advisor has prepared a new IPS, which is much longer and more detailed. The new IPS looks like a substantial upgrade from the old…
Massachusetts now requires all employers, regardless of size, with Massachusetts employees to offer employees paid, job-protected leave for certain COVID-19-related reasons, including to get or recover from a COVID-19 vaccine. Massachusetts also has established a fund to reimburse employers for the cost of providing COVID-19 paid leave required by the law. Effective May 28, 2021, the law requires employers to provide all employees up to 40 hours (pro-rated for part-time employees) of paid leave. Employers…