ELIZABETH LOH, June 27, 2024 The Department of Health and Human Services (HHS) has issued a final rule which amends the Health Insurance Portability and Accountability Act (HIPAA) Privacy Rules (the “Final Rule”). HHS issued the Final Rule in the wake of the Supreme Court decision in Dobbs v. Jackson Women’s Health Organization. HHS explains […]
Author: Trucker Huss
YATINDRA PANDYA and ROBERT GOWER, June 27, 2024 Introduction On April 25, 2024 the Department of Labor (DOL) issued the final Retirement Security Rule (the “Final Rule”), providing a new regulatory definition of an “investment advice fiduciary” under the Employment Retirement Income Security Act of 1974 (ERISA). The Final Rule looks to end the DOL’s […]
STEPHANIE PLATENKAMP, April 30 2024 Plan sponsors have found it increasingly difficult to predict and manage the cost of their defined benefit pension plans (“DB plans”) due to fluctuating interest rates, investment returns, increased costs, and participant longevity. As a result, pension de-risking has become a common way for plan sponsors to manage risk and […]
STEPHANIE LAO, April 30 2024 In Ryan S. v. UnitedHealth Group, Inc., 2024 WL 1561668 (9th Cir. Apr. 11, 2024), the Ninth Circuit Court of Appeals recently overturned a California district court’s dismissal of a lawsuit brought on behalf of a putative class of group health plan participants against UnitedHealth Group, Inc. and its subsidiaries […]
MARY POWELL, DYLAN RUDOLPH and SARAH KANTER, March 21 2024 Over the past two decades, fiduciaries of health plans governed by the Employee Retirement Income Security Act of 1974 (ERISA) have largely avoided involvement in the increasingly active area of “excessive fee” fiduciary breach litigation, which has mainly targeted fiduciaries of defined contribution retirement plans. […]
BRIAN D. MURRAY and ANGEL L. GARRETT, December 19 2023 As plan sponsors increasingly look to arbitration provisions to avoid costly class action litigation, courts across the nation have weighed in on whether plan-wide claims for breach of fiduciary duty under ERISA § 502(a)(2) can be subject to mandatory arbitration. ERISA § 502(a)(2) provides that […]
ADRINE A. CARGILL and JOELLE TAVAN, December 19 2023 Since 1990, the Internal Revenue Service (IRS) has provided plan sponsors with programs and related mechanisms to correct plan qualification failures (or “defects”) and avoid significant penalties for their failures to comply with certain of the tax-qualification requirements under section 401(a) of the Internal Revenue Code […]
YATINDRA PANDYA and ROBERT GOWER, November 30 2023 Introduction On October 31, 2023, the Department of Labor (DOL) released its proposed rule (the “Proposed Rule”) providing a draft new regulatory definition of an “investment advice fiduciary” under the Employment Retirement Income Security Act of 1974 (ERISA). The Proposed Rule breathes new life into the DOL’s […]
SUSAN QUINTANAR, November 7 2023 On November 1, 2023, the Internal Revenue Service issued Notice 2023-75, containing the cost-of-living adjustments related to retirement plan limitations under the Internal Revenue Code (the “Code”). These changes will take effect on January 1, 2024. Below are some of the key highlights. Adjusted Limitations The limitation on the annual […]
SCOTT E. GALBREATH, October 17, 2023 This article is the second in a series. Part 1 appeared in the Sept 2023 Benefits Report (download PDF here). Those working with 457 plans may also be interested in Scott E. Galbreath’s October 31 webinar: Deferred Compensation Plans for Tax Exempt Organizations —The Tricks and Treats of 457 Plans […]
NICOLAS DEGUINES, September 28, 2023 On December 29, 2022, the SECURE 2.0 Act of 2022 (“SECURE 2.0”) was signed into law. SECURE 2.0 builds upon the retirement improvements made by the Setting Every Community Up for Retirement Enhancement Act (“SECURE 1.0”). One of SECURE 2.0’s main goals is to expand retirement coverage and increase retirement […]
SCOTT E. GALBREATH, September 28, 2023 On July 14, 2023, the Internal Revenue Service (the “IRS”) issued Notice 2023-54 (the “Notice”), providing much-welcomed guidance and transition relief relating to certain required minimum distributions (RMDs). Specifically, the Notice provides the following: Tax exempt organizations have unique considerations when it comes to compensating executives. The most obvious […]
NICOLAS DEGUINES, September 21, 2023 On July 14, 2023, the Internal Revenue Service (the “IRS”) issued Notice 2023-54 (the “Notice”), providing much-welcomed guidance and transition relief relating to certain required minimum distributions (RMDs). Specifically, the Notice provides the following: Relief for the change in the required beginning date (RBD) for RMDs under SECURE 2.0; Guidance […]
BULLETIN, August 30, 2023 Trucker Huss is pleased to announce that Best Lawyers® has recognized 13 of our lawyers: ten have been included in the 2024 edition of The Best Lawyers in America® and three have been named to the 2024 Best Lawyers: Ones to Watch® list. Since it was first published in 1983, Best […]
ZACHARY ISENHOUR and ROBERT GOWER, August 29, 2023 On August 25, 2023, the Internal Revenue Service (IRS) released Notice 2023-62 (the “Notice”), providing eagerly awaited relief on the implementation timeline for the catch-up contribution provisions under Section 603 of the SECURE 2.0 Act of 2022 (“SECURE 2.0”). The catch-up contribution provisions under Section 414(v) of […]
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