PBGC seeks comments on regs concerning reportable events and notice of failure to make required contributions

The Pension Benefit Guaranty Corporation (PBGC) is seeking comments on an extension, with modifications, of two currently approved collections of information under its regulations on reportable events and certain other notification requirements. The PBGC has issued Forms 10 and 10-Advance and instructions under regulations concerning reportable events, and Form 200 and instructions under regulations relating […]

Pension & Benefits NetNews – September 4, 2018

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Senators introduce bill to retain prohibition on preexisting condition exclusions

Senators Thom Tillis (R-NC), Lamar Alexander (R-TN), Chuck Grassley (R-IA), Dean Heller (R-NV), Bill Cassidy, M.D. (R-LA), Lisa Murkowski (R-AK), Joni Ernst (R-IA), Lindsey Graham (R-SC), John Barrasso (R-WY), and Roger Wicker (R-MS) have introduced the Ensuring Coverage for Patients with Pre-Existing Conditions Act, which would amend HIPAA to guarantee the availability of health insurance […]

PBGC seeks nominations for Advisory Committee members

The Pension Benefit Guaranty Corporation (PBGC) seeks nominations for individuals to serve as members of the PBGC Advisory Committee. The deadline for receipt of nominations is September 24, 2018. The Advisory Committee consists of seven members appointed by the President from among individuals recommended by the PBGC Board of Directors. By February 19, 2019, the […]

Nominations sought for ERISA Advisory Council

The Department of Labor is soliciting nominations to fill five three-year vacancies on the ERISA Advisory Council on Employee Welfare and Pension Benefit Plans. The deadline for receipt of nominations is September 17, 2018. The terms of five Council members expire at the end of the year. Nominations are being accepted for one vacancy each […]

Flight paramedic fired for fraudulent misuse of baby-bonding leave can’t advance FMLA claims

A helicopter pilot was fired from his job as a flight paramedic based on his apparent fraudulent misuse of baby-bonding leave to operate a side business at airshows, and for being dishonest when confronted about it, a federal district court in Kentucky ruled in dismissing his FMLA and promissory estoppel claims on summary judgment. The […]

Banks were not liable under ERISA as functional fiduciaries for fraudulent manipulation of foreign exchange transactions

The alleged fraudulent manipulation of benchmark rates by banks to maximize profits from foreign exchange transactions involving plan assets did not constitute sufficient discretionary control over plan assets to subject the banks to liability under ERISA as functional fiduciaries, according to U.S. Court of Appeals in New York (CA-2). The transactions involved plan assets, but […]

GSA issues 2019 CONUS per diems

The General Services Administration (GSA) has announced its fiscal year (FY) 2019 Continental U.S. (CONUS) per diem reimbursement rates. The GSA rates are often a predictor of the per diem rates set by the IRS. The IRS is expected to release its annual special per diem rates and guidance for taxpayers later in 2018. The […]

Facebook messages exchanged between plan participants in fiduciary breach suit subject to discovery

Private Facebook messages exchanged between plan participants in a breach of fiduciary duty suit were subject to discovery by the plan fiduciaries, according to a federal trial court in Indiana. The messages, which disclosed nervousness regarding a pending deposition and a desire to be a good representative for the case, were legally relevant and, the […]

DOL provides ERISA compliance assistance for association health plans

The Department of Labor has released an ERISA compliance assistance publication for newly-created association health plans (AHPs). In the publication, the DOL noted that ERISA sets standards of conduct for plan sponsors and employers that manage group health plans (including AHPs) and their assets. New rule. In June 2018, the DOL issued a final rule […]