EBSA Releases Fact Sheet on Its ERISA Enforcement

The Employee Benefits Security Administration (EBSA), part of the Department of Labor (DOL), in a just-released Fact Sheet says its enforcement activities in fiscal year 2014 restored $599.7 million to employee benefit plans, participants and beneficiaries. EBSA is tasked with watchdog duties for the Employee Retirement Income Security Act (ERISA). In FY 2014, the agency […]

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Plans That Drop Contraceptive Coverage Must Send Out Notices

The Department of Labor (DOL) is requiring closely held companies that drop contraceptive services from their health plans to inform their employees in writing within 60 days of the decision. The vehicle for doing this is the Summary Plan Description (SPD) for the health plan, which would have to disclose the elimination of coverage and […]

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People Raiding 401(k) Accounts Less These Days

Let's hope people have the inside track on winning the lottery since it seems that many of them cash out their 401(k)s upon leaving their jobs for a new one, buying things like cars, jewelry and vacations. The good news is that the percentage of people so doing has dropped from about 25 percent two […]

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DOL Recognizes ‘State of Celebration’ for Same-Sex Marriages

Agreeing with an earlier pronouncement by the Internal Revenue Service (IRS), the Department of Labor (DOL) has issued guidance that, for purposes of benefit plan administration for same-sex spouses, the agency would recognize a "state of celebration" as the applicable standard. In other words, even if the couple resides in a state that does not […]

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401(k) Employer Matches Make a Rebound

When economic troubles began percolating in 2007-2008, many companies dropped their 401(k) matching-contribution programs to save money. Now a survey by the Charles Schwab Corp. shows that not only has that trend been reversed, but more companies are now offering matching contributions than before the onset of the so-called Great Recession. The Schwab study says […]

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Following SCOTUS Ruling, EBSA Begins Auditing Compliance with Obamacare

If the actions of the Los Angeles office of the Employee Benefits Security Administration (EBSA) are any indication, the Department of Labor (DOL) has decided that the Supreme Court's recent endorsement of the Affordable Care Act (ACA) represents prime time to begin auditing compliance with all federal health care legislation. In letters recently sent to […]

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DOL Disclosure Fee Regulations Take Effect July 1

The Employee Benefits Security Administration (EBSA) of the Department of Labor (DOL) is implementing a new disclosure rule effective July 1, 2012, regarding the fees associated with 401(k)-type investment plans. The final rule will require plan fiduciaries to release in both printed form and in Web format the costs associated with these retirement plans, including […]

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