Group Health Plan Fiduciary Litigation on the Rise Enforcement of the strict standards of fiduciary conduct set forth in the Employee Retirement Income Security Act (ERISA) has traditionally been reserved for retirement plan sponsors. However, a new class action lawsuit highlights the importance of employers’ adherence to their fiduciary duties when managing their group [...]
Employee Leave – Legal Rules Employees may need to take time off from work for various reasons, including for their own medical situations or family emergencies. Federal and state leave laws require employers to provide employees with leave in certain situations. In general, when employees request time off from work, employers should consider their obligations [...]
DOL Rescinds 2018 Final Rule on Association Health Plans On April 29, 2024, the U.S. Department of Labor (DOL) released a final rule that rescinds in its entirety a prior 2018 final rule on association health plans (AHPs). According to the DOL, the rescission is intended to resolve any uncertainty regarding the status of [...]
FTC Announces Rule Banning Noncompetes On April 23, 2024, the Federal Trade Commission (FTC) voted to issue a final rule that would ban noncompete agreements in virtually all employment relationships. The final rule has not yet been filed in the Federal Register, but is scheduled to take effect 120 days after such filing. Final [...]
DOL Announces Final Overtime Rule Increasing Salary Levels for White-collar Employees DOL Announces Final Overtime Rule Increasing Salary Levels for White-collar Employees On April 23, 2024, the U.S. Department of Labor (DOL) announced a final rule to amend current requirements employees in white-collar occupations must satisfy to qualify for an overtime exemption under the [...]
On April 23, 2024, the U.S. Department of Labor (DOL) announced a final rule to amend current requirements employees in white-collar occupations must satisfy to qualify for an overtime exemption under the Fair Labor Standards Act (FLSA). The FLSA white-collar exemptions apply to individuals in executive, administrative, professional (EAP), and some outside sales and computer-related [...]
DOL Issues Final Retirement Security Rule and Related Amendments to PTEs On April 23, 2024, the U.S. Department of Labor (DOL) issued a final retirement security rule updating the definition of an investment advice fiduciary for purposes of the Employee Retirement Income Security Act (ERISA). The DOL also separately released amendments to class prohibited [...]
Inflation Rose 3.5% in March, More Than Expected The U.S. Bureau of Labor Statistics (BLS) reported that the consumer price index (CPI) rose 3.5% year over year in March, accelerating from 3.2% in February. The month’s gain exceeded the Dow Jones forecast of a 3.4% year-over-year level. The “core” CPI, which strips out the [...]
Health-related Productivity Costs While offering health coverage and benefits for employees and dependents is a major business expense, lost productivity due to physical and emotional health problems can be far more costly for employers. Lost productivity is classified in two ways: presenteeism and absenteeism. While absenteeism means that the employee is physically not at [...]
Health Savings Account (HSA) Contribution Rules Health Savings Account (HSA) Contribution Rules Many employers offer high deductible health plans (HDHPs) to control premium costs and then pair this coverage with health savings accounts (HSAs) to help employees with their health care expenses. An HSA is a tax-favored trust or account that can be contributed [...]
