Updates? contact Mark Poerio @ LinkedIn. Executive Compensation Alerts here.
2013.July.8 PBGC Moratorium on ERISA 4062(e) Enforcement. The PBGC has issued a news release announcing this moratorium through the end of 2014. Further discussion at PBGC 4062(e).
2014.June.25 Supreme Court Ends Moench Presumption - Articulates ERISA Standard for Stock Drop Cases.
In Fifth Third v. Dudenhoeffer, the Supreme Court not only rejected a special presumption of prudence standard for ERISA claims relating to plan investments in employer stock, but explained a "plausible alternative" pleading requirement in order for claims to avoid dismissal. The Supreme Court also addressed claims relating to alleged imprudence when fiduciaries are charged with failing to act based on inside information. See Employer Stock Litigation.
2014.May.25 Exiting Retiree Health.
That is the title of an interesting TowersWatson Alert, subtitled "How
to Eliminate the Obligation and Protect the Obligation to Retirees."
Meanwhile, PwC has issued this
alert about the implications of ACA market exchanges on the financial
expense for retiree health plans, and the Supreme Court has granted
certiorari for review of whether retiree health benefits are presumed to be
vested for life if a collective bargaining agreement is silent about their
duration. For discussion, see this BloombergBNA article.
2014.May.26 Captive Retiree Health Insurer works with VEBA, rules IRS.
In Revenue Ruling 2014-15, the IRS confirmed that an employer's captive subsidiary was properly taxable as an insurer for purposes of obtaining the desired tax results for the captive's reinsurance of the retiree health obligations of the employer's VEBA. Further information at Captives.
Other Notable Updates:
2013.Dec.26 HIPAA Settlement Agreement - see HIPAA Litigation.
2013.Dec.13 Employer "Stock Drop" Litigation - Supreme Court to Address: see Stock Drop Litigation; see also Stock Drop Litigation Results (for Judgments and Settlements).
2013.Nov.20 Coverage for Defense Costs during DOL Investigations? See Fiduciary Defense and Indemnification.
2013.Nov.01 IRS COLA $$$for 2014: see Plan Limits.
2013.July.6 COBRA Procedural System Insights . . . for less than $1.85 Million: see COBRA Litigation.