TIAA Retirement Suit Foreshadows Future 401(k) Rule Litigation – Andrew Oringer, Bloomberg Law, June 7, 2024 (PDF)The post TIAA Retirement Suit Foreshadows Future 401(k) Rule Litigation first appeared on The Wagner Law Group ..read more

Michael Schloss is a highly sought-after speaker on a wide range of topics relating to Title I of ERISA and DOL activities and is the recipient of multiple awards for his service at the DOL, including the prestigious Alan D. Lebowitz Award, recognizing managers and supervisors who exemplify dedication, a distinguished career of excellence and commitment to mentoring future leaders. In December, we suggested, contrary to popular opinion, that serious attention should be given to  the filing of several class action lawsuits alleging that plan fiduciaries violated ERISA by applying forfeitur ..read more

DOL’s New Fiduciary Regulation and Exemptions – Marcia Wagner, speaker, Retirement Management Executive Forum (RMEF), Chicago, Il, June 5, 2024 – View PowerPoint presentation hereThe post DOL’s New Fiduciary Regulation and Exemptions first appeared on The Wagner Law Group ..read more

DOL Fiduciary Rule Could Mean More Analysis, Documentation, Say Industry Watchers – Marcia Wagner, Financial Advisor IQ, June 5, 2024 (PDF)The post DOL Fiduciary Rule Could Mean More Analysis, Documentation, Say Industry Watchers first appeared on The Wagner Law Group ..read more

401(k) Lawsuits Over ‘Forfeited’ Money Get a Lifeline – Andrew Oringer, Investment News, June 3, 2024 (PDF)The post 401(k) Lawsuits Over ‘Forfeited’ Money Get a Lifeline first appeared on The Wagner Law Group ..read more

Increased Litigation Around PRTs Brings Insurance Industry Practices to Light – Andrew Oringer, PLANSPONSOR, June 3, 2024 (PDF)The post Increased Litigation Around PRTs Brings Insurance Industry Practices to Light first appeared on The Wagner Law Group ..read more

Undue Influence Claims Under ERISA – Barry Salkin, Benefits Law Journal, Volume 37, No. 2, Summer 2024The post Undue Influence Claims Under ERISA first appeared on The Wagner Law Group ..read more

By Stephen Wilkes and Michael Schloss According to CMS, annual health care spending in the United States reached about $4.5 trillion in 2022, 9% of which (about $405 billion) was spent on prescription drugs.[1]  CMS also reports that in 2022, 18% of annual health care spending in the U.S. (or about $800 billion) was paid through employer-sponsored health plans.  Given the billions of dollars spent every year through ERISA-covered plans, the importance of that benefit to the personal well-being of American workers and the inconsistency in the amounts paid for pharmacy benefits from pl ..read more

The Department of Labor (“DOL”) has issued Field Assistance Bulletin (“FAB”) 2024-1 which contains guidance and warnings on the use of artificial intelligence (“AI”) when administrating various employment laws, including the Family and Medical Leave Act (“FMLA”), stating that “without responsible human oversight, the use of such technologies may pose potential compliance challenges with respect to federal labor standards,” including the administration of the FMLA. Background.  The DOL defines AI as “a machine-based system that can, for a given set of human-defined objectives, make predict ..read more

Are Insolvency Laws Contributing to the Death of Single Employer DB Plans? – Israel Goldowitz, Panelist, 19th Biennial IPEBLA Conference, Milan, Italy, May 26 – 29, 2024 – Click here for detailsThe post Are Insolvency Laws Contributing to the Death of Single Employer DB Plans? first appeared on The Wagner Law Group ..read more