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In light of the recent J&J lawsuit, plan sponsors should take a critical look at their welfare plan governance and administration. Our article below lays out some specific action items for plan sponsors to ensure that they are satisfying their ERISA fiduciary duties.

It’s hard to overstate the importance of the Employee Retirement Income Security Act (ERISA) to employer-sponsored health and welfare plans.    Fifty years after its enactment, this law and its compliance requirements remain complex. Check out the final installment of Lockton’s four-part audiocast “ERISA at 50,” in which we look at the how the future of ERISA could be in doubt, depending on what Congress decides to do.   To listen to Part 4 and the rest of the series, click here: https://lnkd.in/gS8DJRpc

50 years after its enactment, the Employee Retirement Income Security Act (ERISA) remains the most influential federal law affecting employer-sponsored health and welfare plans. How did ERISA gain such power? Learn about the landmark law’s origins and its impact on employee benefits in the first episode of a four-part audio cast series from Lockton. https://bit.ly/4dH3kcx #ERISA #ERISAat50 #employeebenefits #compliance

Lack of retirement access can lead to financial insecurity and strain on social welfare systems. Learn how your organization can build a stronger retirement infrastructure. #FinancialSecurity #RetirementPlans #MarshMMA

In the latest episode of “Just Compensation,” Lowenstein’s Darren Goodman, Megan Monson, and Jessica Kriegsfeld explore how the structure of M&A transactions can impact the existing workforce and treatment of employee benefits such as equity awards and health and welfare plans and retirement plans. Listen to the full episode: https://bit.ly/3WCxfgm #executivecompensation #employmentlaw #compensationandbenefits #taxlaw #compliance

In case you missed it, Labor Day marked 50 years since President Ford signed the Employee Retirement Income Security Act into law in 1974. ERISA has changed significantly since then, and we cover many of the key issues swirling around this law that governs health & welfare benefits in Lockton’s audiocast series, “ERISA at 50.” This week’s episode covers ERISA preemption, and why some states are challenging the law’s federal authority. To listen to the first three episodes of the series, click here: https://lnkd.in/gMcn_tYz

The open acknowledgment from Republicans regarding plans to reform Social Security and Medicare fuels discussions on the implications for citizens. The intersection of fiscal policy, social welfare, and retirement planning becomes a focal point in the ongoing political discourse. #RepublicanPolicyDebate #SocialSecurityReform

New changes to ERISA requirements. The Employee Retirement Income Security Act (ERISA) and related legislation impose a myriad of requirements on employers pertaining to any health and welfare plan that they may offer. One of those requirements is that the plan have “fiduciaries” who operate the plan in the sole interest of the participants and beneficiaries, and ERISA holds all plan fiduciaries to a higher standard of care than non-fiduciaries. As a reminder: ERISA applies to all employer-sponsored welfare benefit plans unless an exemption applies (such as being a church or a government plan). There is no small-employer exception to ERISA.d Download our guide that will explain Fiduciary Responsibilities for Group Health Plan Sponsors. https://lnkd.in/ev_PvAnv #ERISA #CAA #healthcare #insurance #healthinsurance #hr #employeebenefits #benefits #humanresources #cfo #controller #compliance #ebwithryan

Informational copies illustrate how the updated forms will look and what information will be required in the annual pension and welfare benefit plan reporting. #EmployeeBenefits #Retirement https://ow.ly/hvqZ50QmaYb

The realization that one day you will retire drives the need to save now! Saving for retirement ensures that you maintain financial independence, sustaining your desired lifestyle without being solely dependent on social welfare programs or family support. #RetirementPlanning #FinancialFreedom #LifeInsurance