In October, Institutional Shareholder Services (“ISS”) released an off-cycle update to its Executive Compensation Policies Frequently Asked Questions (the “FAQs”), which are available at this link: US-Compensation-Policies-FAQ.pdf (the new questions are highlighted in yellow). As described in more detail below,
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Sixth Circuit Again Invalidates ERISA Plan Arbitration Clause
The Sixth Circuit recently reversed a district court’s dismissal, and order requiring arbitration of, a proposed class action alleging fiduciary breaches in connection with the Kellogg Company 401(k) plan. Fleming v. Kellogg Co., 2024 WL 4534677 (6th Cir. Oct. 21,
Deadlines Approaching for New ACA Section 1557 Nondiscrimination Requirements: Action Items for Covered Group Health Plans
Earlier this year, the Department of Health and Human Services (“HHS”) released a final rule under Section 1557 of the Affordable Care Act (“ACA”), which prohibits discrimination in health programs and activities. The 2024 final rule includes new administrative requirements
Final Mental Health Parity Regulations Released, with Plan Sponsor Action Required by 2025
Last week, the Departments of Labor, Treasury, and Health and Human Services finalized regulations implementing the Mental Health Parity and Addiction Equity Act of 2008 (MHPAEA). Although the final regulations step back from certain burdensome aspects of the proposed rules
DOL Updates Guidance on Pension and Health & Welfare Plan Cybersecurity Best Practices
In 2021, the U.S. Department of Labor (DOL) issued 3 documents outlining guidance on cybersecurity practices for benefits plans, which we discussed in a blog post at the time. The DOL recently issued revised versions of the original three
Massachusetts District Court Permits 403(b) Plan Fiduciary Breach Claims to Proceed
A federal district court in Massachusetts recently denied a motion to dismiss a complaint filed by plan participants in the Cape Cod Healthcare, Inc. 403(b) plan, which alleged that the plan’s fiduciaries breached their ERISA duty of prudence by permitting
Interaction between COBRA and Medicare in C-Suite Executive Severance and Retirement Arrangements
Both companies and their C-suite executives should be mindful of the interactions between COBRA and Medicare and their implications when negotiating a severance or retirement arrangement. This is because Medicare enrollment can terminate COBRA coverage, depending on the timing of
“Boomerang” Indemnification/Advancement-Gilbert v. Unisys
Under Delaware law, executives (and former executives) may be entitled to indemnification and advancement from their employer for claims arising in connection with their employment. These rights to indemnification/advancement are generally contractual; they typically arise under the company’s governing documents
Texas Federal Court Sets Aside FTC’s Non-Compete Rule, Halting It From Taking Effect on September 4, 2024
On August 20, 2024, in Ryan LLC v. Federal Trade Commission, No. 3:24-cv-00986-E (N.D. Tex.), the United States District Court for the Northern District of Texas granted summary judgment to the plaintiffs and ordered the Federal Trade Commission’s (“FTC”) non-compete
Eleventh Circuit Reiterates that Burden of Proving Loss Causation Stays with Plaintiffs
The Eleventh Circuit Court of Appeals recently affirmed a district court’s grant of summary judgment in favor of the fiduciaries of the Home Depot 401(k) plan, who defended against claims that they breached their fiduciary duties by permitting the plan