Fiduciary Issues and Plan Governance

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April 15, 2015

Kutak Rock attorneys Brian Bartels and John Schembari authored an article, “Fiduciary Duties in the Public Sector,” in the April 2015 edition of Benefits Magazine.

Article
March 20, 2015

Plan administrators of 401(k) and other participant-directed plans must provide participants with information about the fees associated with the plan (fee disclosures) at least annually. When the rules were first released, the Department of Labor (“DOL”) required plan administrators to provide the fee disclosures no later than 12 months after the prior fee disclosure was mailed. This rule created practical difficulties and caused each plan’s fee disclosure deadline to move over time. Yesterday, the DOL released a revised rule that corrects these issues.

Client Alert
November 3, 2014
Late Friday afternoon (October 31, 2014), the Center for Medicare & Medicaid Services (CMS) announced it will not be enforcing the regulations relating to unique health plan identifiers (HPIDs) until further notice. The enforcement delay applies to all HIPAA-covered entities, including health plans.
Client Alert
July 1, 2014

On June 30, 2014, the Supreme Court ruled that under the Religious Freedom Restoration Act, closely-held for-profit corporations are not required to pay for contraceptives if doing so would violate the corporation’s sincerely held religious beliefs. For more information on the major parts of the decision and its impact on employers, please read our client alert.

Client Alert
June 26, 2014
On June 25, 2014, the U.S. Supreme Court issued its long-awaited ruling in Fifth Third Bancorp v. Dudenhoeffer, a case involving an ESOP fiduciary’s duties in deciding to sell or hold employer stock in an ESOP. For additional information, please read our client alert.
Client Alert
September 13, 2013
May 20, 2013

Over the past year, there has been a marked increase in Department of Labor (“DOL”) audits of qualified retirement plans.  It appears that not only has the number of audits increased, but so has the DOL’s expectations of plan fiduciaries.  Most recently, it has been reported that during routine audits, DOL officials seek documentation as to the level of fiduciary training that has been given to plan fiduciaries.  The DOL takes the view that fiduciary training evidences prudent fiduciary practice.

Client Alert
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