Employee Retirement Income Security Act Archives

View From McDermott: Estoppel Claims Under ERISA–Confusion in Need of Clarification

by McDermott Will & Emery | Aug 8, 2013 | Retirement Plans

The Employee Retirement Income Security Act of 1974 was enacted to set minimum participation, fiduciary and nondiscrimination standards for employee benefit plans and to protect employees when an employer voluntarily established retirement and health care plans in private industry. Employers also benefited from ERISA’s enactment because ERISA made nationwide administration of benefit plans easier through federal preemption of most conflicting state laws. Although ERISA preemption covers most state laws that impact plan administration, judicial rulings on certain ERISA issues, including estoppel claims, are creating new challenges for nationwide and uniform benefit administration.

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Sixth Circuit Requires a Net Loss to Sue in Certain ERISA Stock-Drop Cases

by McDermott Will & Emery | Jun 21, 2012 | Retirement Plans

by John A. Litwinski and Chris C. Scheithauer

Recently, the U.S. Court of Appeals for the Sixth Circuit held that a 401(k) plan participant who sued under the Employee Retirement Income Security Act (ERISA) for losses in connection with a company stock fund that suffered a drop must show losses on a “net basis” during the class period to have constitutional standing. This decision has great significance in addressing plaintiffs’ standing and class certification in so-called ERISA “stock-drop” cases, often filed after a company’s stock price falls.

Read the full article here.

PBGC Announces New Enforcement Approach that Reduces Impact of ERISA Section 4062(e) on Financially Sound Employers

by McDermott Will & Emery | Apr 12, 2012 | Benefit Controversies, Retirement Plans

by Michael T. Graham, Joseph S. Adams and Patrick D. Ryan.

The PBGC announced that it may lessen ERISA Section 4062(e) enforcement for employers in strong or moderately strong financial condition. However, the PBGC will continue to enforce its prior Proposed Rule on ERISA Section 4062(e) liability.

To read the full article, click here.

New Service Provider and Participant Fee Disclosure Rules: What Employers Need to Know

by McDermott Will & Emery | Feb 17, 2012 | Employee Benefits

Thursday, March 8, 2012
11:00 – 12:00 pm CST

To register, please click here.

The U.S. Department of Labor (DOL) recently issued final regulations relating to service provider fee disclosures to plan fiduciaries under the Employee Retirement Income Security Act, which affect the participant fee disclosure regulations finalized by the DOL in October 2010. Under the new final regulations, service providers must provide initial fee disclosures to plan fiduciaries by July 1, 2012, and plans must provide initial fee disclosures to participants by August 30, 2012.

McDermott Will & Emery is pleased to offer a complimentary webcast that tells employers what they should expect to receive from service providers and the practical steps they should take to fulfill their fiduciary responsibilities in light of the new final regulations.

McDermott Speakers
Karen Simonsen, Partner, Chair, Plan Fiduciary and Investment Management Group
Maureen O’Brien, Partner
Elizabeth Savard, Partner

Who should attend?
All human resources executives, in-house counsel, compensation and benefits directors, and others responsible for overseeing defined contribution and defined benefit pension plans.