Beneficially Yours
7 FOLLOWERS
Navigate the complexities of ERISA law and employee benefits with Beneficially Yours blog by Seyfarth. Stay informed about recent court decisions, regulatory updates, and best practices for managing employee benefit plans. Readers can expect insightful articles, legal analysis, and practical tips for employers and plan sponsors.
Beneficially Yours
1w ago
Seyfarth Synopsis: Access to reproductive health care has been a part of the national debate for years, and even more so since 2022 when the US Supreme Court issued its ruling in Dobbs overturning decades of precedent established under Roe v. Wade. As a result, the topic has become a focal point in the Presidential ..read more
Beneficially Yours
1M ago
Seyfarth Synopsis: The federal district court for the Northern District of Texas has issued an order in the Ryan case staying the effective date on a nationwide basis the Federal Trade Commission (FTC) Rules banning noncompete agreements (the “Rule”), as well as enforcement of the Rule. However, legislatures and agencies at the federal and state level ..read more
Beneficially Yours
1M ago
Seyfarth Synopsis: On September 9, 2024, the Departments of the Treasury, Labor, and Health and Human Services (the “Departments”) released highly anticipated Final Rules under the Mental Health Parity and Addiction Equity Act (MHPAEA). Instead of providing the guidance hoped for by stakeholders, the new rules may leave employers wondering if they should continue to ..read more
Beneficially Yours
2M ago
On Monday, September 9, 2024, the Departments of Health and Human Services, Labor and Treasury (the “Departments”) issued their final rule regarding the nonquantitative treatment limitation (NQTL) comparative analysis required under the Mental Health Parity and Addiction Equity Act (MHPAEA). (These acronyms roll right off the tongue, don’t they?) The Departments note that final rules ..read more
Beneficially Yours
2M ago
Seyfarth Synopsis: On August 19, 2024, the IRS issued Notice 2024-63 (the “Notice”) providing guidance for plan sponsors that wish to provide matching contributions based on eligible student loan repayments made by participants, rather than based only on elective deferrals, pursuant to the SECURE 2.0 Act of 2022. This post summarizes guidance under the Notice.  ..read more
Beneficially Yours
2M ago
This post was originally published to Seyfarth’s Trading Secrets blog. Once again surprising the country by acting ten days before her own self-appointed deadline, a federal judge in the United States District Court for the Northern District of Texas issued a ruling on August 20 in the Ryan v. FTC case setting aside the FTC Rule banning non-competes, and ..read more
Beneficially Yours
3M ago
Seyfarth Synopsis: Orders issued by the Eastern District of Texas on Thursday July 25 and the Northern District of Texas on Friday July 26 indefinitely delayed the September 23, 2024 effective date of the Department of Labor’s revised regulation defining when a party becomes an “investment advice” fiduciary (the “New Fiduciary Rule”) and amendments to ..read more
Beneficially Yours
3M ago
In this episode, Richard and Sarah are joined by Ian Morrison, a Partner in Seyfarth’s ERISA Litigation group to delve into a new line of cases alleging that forfeitures are plan assets, and must be used to benefit plan participants. The plaintiffs in these cases are claiming that using forfeitures to offset employer contributions – a common practice – amounts to disloyal conduct by the fiduciaries and self-dealing by the employer. This episode also explores the defense’s arguments that this practice is lawful, backed by longstanding Treasury Regulations and Department of Labor guidance. Grab ..read more
Beneficially Yours
5M ago
Seyfarth Synopsis: The IRS has announced increases to key limits for certain health and welfare benefit programs, including HSA contributions for 2025.
The IRS recently released 2025 cost-of-living adjustments applicable to dollar limitations for certain employer-sponsored health and welfare plans in Rev. Proc. 2024-25.
The changes in the 2025 cost-of-living adjustments for employer-sponsored health and welfare plans that were announced in Rev. Proc. 2024-25 are summarized in the table below:
Employers who sponsor health and welfare plans should take advantage of the new increased limits by m ..read more
Beneficially Yours
6M ago
Seyfarth Synopsis: Following years of back and forth, new final rules were published by the Department of Health and Human Services (HHS) on May 6, 2024 reinstituting the Department’s interpretation that the prohibition on discrimination by health programs and activities “on the basis of sex” includes treatments for gender-affirming care. In this post, we explore the rule’s impact on self-funded group health plans. Please see our firm’s Legal Update here for a broader look at the rule.
Background and Key Take-Aways
As summarized below HHS’s Final Rule under Section 1557 would essentially prohi ..read more