Understanding Employee Benefits

Participants in Top Hat Plans Must Exhaust Administrative Remedies

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So-called “Top Hat” plans are nonqualified deferred compensation plans for a select group of management or highly compensated employees. These executive compensation arrangements are exempt from many ERISA provisions, but are not exempt from ERISA’s claims procedure requirements. Therefore, top hat plans must provide a reasonable claims procedure. ERISA compliant... Read More

Topics: Deferred Compensation and 409A, ERISA and Other Benefits Litigation, Executive Compensation

Business As Usual: Supreme Court Upholds ACA Subsidies

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The United States Supreme Court recently held in King v. Burwell that the Affordable Care Act (ACA) permits individuals to receive health insurance premium subsidies through federally-facilitated exchanges (in addition to state-based exchanges). Because this decision is consistent with existing agency interpretation, the decision has little direct effect on employer-sponsored... Read More

Topics: ERISA and Other Benefits Litigation, Health Care Reform, Health Plan, Welfare Plans

Same Sex Marriage: Effect on Benefits

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The United States Supreme Court recently held in Obergefell v. Hodges http://www.supremecourt.gov/opinions/14pdf/14-556_3204.pdf that all states must recognize and allow marriages between same sex partners. Depending on an employer’s current employee benefits plan, certain provisions may need to be changed in light of this ruling. For those employers who already provide... Read More

Topics: Cafeteria Plans, ERISA and Other Benefits Litigation, Health Plan, Retirement Plans, Welfare Plans

Ameriprise Avoids Trial On Class Action Suit By Current and Former Employees With $27.5 Million Payment

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In 2011, a group of current and former employees filed a class action lawsuit in the District Court of Minnesota claiming that Ameriprise Financial, Inc. and members of its 401(k) Plan fiduciary committee had breached their fiduciary duty to the Plan participants and engaged in self-dealing. The specific actions generating... Read More

Topics: ERISA and Other Benefits Litigation, Fiduciary Guidance, Retirement Plans