What potential benefits could arise from allowing CITs in 403(b) plans? How could it provide plan sponsors with more flexibility in managing investments? The Secure 2.0 Act and the CITs Dilemma: A proposed bill is aiming to fix a loophole in the Secure 2.0 Act that has prevented some [...]
Getting Ready for the Conclusion of COVID-19 Emergency Declarations President Biden made an announcement on January 30 that he plans to terminate the COVID-19 National Emergency (“NE”) and Public Health Emergency (“PHE”) on May 11, 2023. These emergency declarations have provided different types of assistance to employees covered by employee welfare benefit plans (health, [...]
Legislative Changes 2023 Thank you for partnering with us to create your Wrap Plan Document and Summary Plan Description (SPD). As we embark into 2023, it is important to keep your document up to date to remain compliant with changes in the law and any substantive changes made to your corporate structure or [...]
Employers Act as Fiduciaries When Managing Premium Payments for Benefit Plans The Sixth Circuit Court of Appeals, in Chelf v. Prudential Insurance Company of America, reversed a district court’s dismissal of a claim for breach of fiduciary duty based on ERISA’s “ministerial function” exception. This holding concludes that the employer (Wal-Mart) indisputably exercised control [...]
Employer Health Plan Requirements Under The Consolidated Appropriations Act The Consolidated Appropriations Act of 2021 (CAA) was signed into law in December 2020, providing further stimulus and support to organizations and individuals affected by the COVID-19 pandemic. Among its many provisions are the most comprehensive changes to active employee health plans since the Patient Protection [...]