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Beneficially Yours

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By: Seyfarth Shaw LLP

Blog Authors

Seyfarth Shaw LLP
Seyfarth Shaw LLP
Rebecca Bryant
Mark Casciari
Christina Cerasale
Ben Conley
Liz Deckman
Jake Downing
Diane Dygert
Michael Fucci
Seyfarth Shaw
Linda Haynes
Jennifer Kraft
Seyfarth Shaw
Steve Lifson
Ameena Majid
Danielle Moore
Ian Morrison
Alexia Noble
Kelly Pointer
Candace Quinn
Leon Rodriguez
Kelly Rourke
Richard G. Schwartz
Joy Sellstrom
Seyfarth Shaw LLP
Seyfarth Shaw LLP
Seyfarth Shaw LLP
Seyfarth Shaw LLP
Fred Singerman
Manleen Singh
Seyfarth Shaw
Irine Sorser
Ben Spater
Michael W. Stevens
Jessica Stricklin
Sarah Touzalin
Megan Troy
Kaley Ventura

Latest from Beneficially Yours

Beneficially Yours

Hold Up! Maybe You Can Invest Your Retirement Plan to Save the Planet!

By Diane Dygert
January 21, 2021
Seyfarth Synopsis: DOL final regulation on fiduciary implications of investing in ESG under review by the Biden administration. You may recall our prior blog posts and Legal Update discussing the back-and-forth over the years surrounding the wisdom, or even ability, for plan fiduciaries to invest plan assets in funds with a strategy focused on factors such as environmental, social or corporate governance, sustainability or religion — the so-called ESG factors. See our blog posts here…
Beneficially Yours

Recent Supreme Court Trump Decisions and ERISA Jurisprudence

By Seyfarth Shaw LLP
January 21, 2021
By: Mark Casciari and Rebecca Bryant Seyfarth Synopsis: The Supreme Court has shown a recent reluctance, as a general matter, to expand the scope of its review.  That reluctance should apply as well to cases that seek to extend the scope and enforcement of ERISA. Is there a connection between — the Supreme Court’s December 2020 decisions dismissing Presidential election lawsuits and the Presidential policy of excluding from census apportionment immigrants not considered to be…
Beneficially Yours

PBGC Simplifies Calculation Of Liability For Withdrawal From Multiemployer Pension Plans

By Seyfarth Shaw LLP
January 19, 2021
By: James M. Hlawek Seyfarth Synopsis:  The Pension Benefit Guaranty Corporation (PBGC) recently issued a final rule intended to simplify the calculation of withdrawal liability for multiemployer plans that have adopted benefit reductions, benefit suspensions, surcharges, and contribution increases. Under ERISA, multiemployer pension plans assess withdrawal liability on employers that withdraw from the plans.  Withdrawal liability represents a withdrawing employer’s proportionate share of a plan’s unfunded vested benefits. The calculations of withdrawal liability can be…
Beneficially Yours

You May Even Get a Vaccine Before Needing to go to the Notary; the IRS Has Extended Remote Witnessing of Participant Elections

By Liz Deckman & Irine Sorser
January 6, 2021
Seyfarth Synopsis: The IRS has extended the remote notarization relief that gives plans and participants greater flexibility for participant elections, including spousal consents, that must be signed in person and witnessed by a notary or plan representative in order to be valid. The IRS has also requested comments on this relief, including comments as to whether this relief should be made permanent. As described in our prior post, Notice 2020-4 provides relief from the…
Beneficially Yours

I Am Not Throwing Away My [COVID] Shot!”

By Ben Conley, Diane Dygert & Jennifer Kraft
December 23, 2020
COVID-19 vaccines are finally here! Employers have a lot to think about in how this new tool in the fight against COVID-19 applies in the workplace, and whether it should be a mandatory aspect of employment. Check out the labor and employments considerations about the extent to which an employer should implement a vaccine policy, here and here. Employers offering vaccine programs can also implicate ERISA as well when paying for (or mandating) the…
Beneficially Yours

Changes to HIPAA Privacy Rules on the Horizon

By Diane Dygert
December 18, 2020
Seyfarth Synopsis: The Department of Health and Human Services (HHS) has proposed changes to the required Privacy Notice under the HIPAA privacy regulations. If finalized, these would be the first significant changes to the HIPAA rules since the HITECH changes effective back in 2013. The press release issued by HHS on December 10, 2020, states its intention to empower patients, improve coordinated care, and reduce regulatory burdens in the health care industry. HHS notes that…
Beneficially Yours

SCOTUS Upholds Arkansas PBM Law Against ERISA Preemption Arguments

By Seyfarth Shaw LLP
December 11, 2020
By: Mark Casciari, Ben Conley, and Michael W. Stevens Seyfarth Synopsis: The Supreme Court unanimously upheld Act 900, an Arkansas law regulating Pharmacy Benefit Managers (PBMs).  The opinion could be used as a framework for states to attempt to indirectly regulate ERISA plans via statutes or regulations that affect plan costs. Background We previously addressed the Supreme Court’s consideration of Rutledge v. PCMA, which featured a pharmaceutical industry group’s challenge to Arkansas Act…
Beneficially Yours

Happy New Year! The IRS Grants Permission to Celebrate New Year’s Eve

By Christina Cerasale
November 18, 2020
Seyfarth Synopsis: The IRS has announced that the due date for contributions to a single-employer defined benefit pension plan due in 2020, previously extended to January 1, 2021 by the CARES Act, will be considered timely if made no later than January 4, 2021. Under the funding rules for qualified defined benefit pension plans, plan sponsors generally must make any minimum required contributions no later than 8-1/2 months after the plan year to which they…
Beneficially Yours

No, You Cannot Invest Your Retirement Plan to Save the Planet!

By Linda Haynes & Candace Quinn
November 11, 2020
Seyfarth Synopsis: On October 30, 2020, the Department of Labor (“DOL”) released a final regulation amending the fiduciary regulations governing investment duties under the Employee Retirement Investment Security Act of 1974 (“ERISA”). This final regulation is clear that an ERISA fiduciary should not consider “non-pecuniary” factors such as environmental, social or corporate governance (“ESG”) or sustainability factors when considering an investment or investment strategy. Under the final rule, investment fiduciaries must evaluate investments and investment…
Beneficially Yours

The Supreme Court Wrestles (Again) With the Constitutionality of the Affordable Care Act (ACA)

By Mark Casciari & Ben Conley
November 10, 2020
Seyfarth Synopsis: Yesterday, the Supreme Court heard oral arguments on the most recent challenge to the Affordable Care Act. The case has the potential to invalidate the entire law. While the Court’s decision isn’t expected soon, the oral arguments may provide some clues as to which way the Justices are leaning. We stress, however, that statements made during oral argument are not binding, and Justices remain free to rule as they deem appropriate. On November…

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