John Schembari and Emma Franklin co-authored the article titled “Going Above and Beyond: ERISA Disclosures” in the January/February 2024 issue of Benefits Magazine.

The Employee Retirement Income Security Act (ERISA) standard of acting “with the care, skill, prudence, and diligence” of a prudent “expert” can be difficult to determine in situations that require exceeding ERISA or the Internal Revenue Code requirements. The authors outline four distinct categories that give rise to disclosure-related fiduciary duties, including, (1) statutory disclosure requirements, (2) information requests, (3) when silence could be harmful, and (4) serious consideration doctrine. Each category brings its own unique set of challenges to ERISA fiduciaries.

Benefits Magazine covers benefit issues affecting multiemployer, single employer and public employee plan representatives regarding healthcare, retirement, financial literacy and other issues. The magazine includes case studies and profiles of people who are shaping the industry.

John is chair of Kutak Rock’s employee benefits practice group. He focuses his practice on minimizing his client’s legal risks while ensuring that their employee benefits and executive compensation programs align with their goals. John works with private, public and governmental employers on qualified and nonqualified retirement plans, employee stock ownership plans, insured and self-funded health plans, executive and incentive compensation programs, and other equity-based compensation arrangements. He advises compensation committees, ERISA fiduciaries, in-house counsel, and finance and human resources executives from companies of all sizes, including several of the largest employers in the U.S.

Emma is an associate in Kutak Rock’s employee benefits practice group. She advises plan sponsors and fiduciaries on design, administration, and operation of employee benefit plans to comply with federal laws including the ERISA and the Internal Revenue Code. This includes assisting with operational compliance, fiduciary duties, risk assessment, required disclosures and policies, and investment review. Emma works with qualified retirement plans, as well as health and welfare plans.