Publisher's Synopsis
Employee Retirement Income Security Act (ERISA) is known as one of the most complicated federal laws, but it is one of the most important laws regarding employee benefits. ERISA Facts provides simple explanations for 900 of the most common ERISA-related questions.
Anyone involved in the administration of ERISA-based retirement plans will benefit from this book; it's the perfect resource for a wide range of employee benefits professionals, including ERISA attorneys, TPAs, CPAs, employee benefits consultants or specialists, corporate counsel, IFEBP members, and more.
Organized in a convenient question & answer format to help you find the information you need, ERISA Facts features:
- 900 easy-to-read questions & answers that comprehensively cover all aspects of ERISA requirements and practices
- Practical advice for any professional who is required to comply with ERISA rules, including in-house HR professionals and third-party advisers
- Detailed explanation of who is an ERISA fiduciary and what requirements fiduciaries must meet
- Breakdown of potential sources of fiduciary liability
- Class and Statutory exemptions explained
- Investment guidelines for ERISA-compliant plans
- Real-world advice on enforcement trends
New in the 2022 Edition:
- IRS, DOL and PBGC proposed changes to the Form 5500 Annual Return/Report forms which relate to statutory amendments enacted as part of the SECURE Act
- DOL, HHS, and the IRS released interim final regulations rules applicable to the No Surprises Billing Act
- DOL's "Best Practices for Pension Plans," describing best practices fiduciaries of retirement plans should consider to reduce missing participant issues
- HS's Substance Abuse and Mental Health Services Administration finalized regulations amending confidentiality protections for medical records of patients with substance use disorder
- DOL's guidance identifying "best practices" to mitigate cybersecurity risks in the administration of ERISA-covered plans
- Update on the HITECH Act amendments that require that "recognized cybersecurity practices" be considered by HHS in determining any HIPAA fines, audit results or mitigation remedies
- The American Rescue Plan Act of 2021, allowing certain financially troubled multiemployer plans to apply for special financial assistance
- The HHS's Office for Civil Rights second largest financial settlement with Premera Blue Cross where they agreed to pay $6.85 million and implement a corrective action plan to settle potential violations of HIPAA Rules related to a breach affecting over 10.4 million people
Topics Covered:
- Fiduciary responsibilities under ERISA
- Establishment and administration
- ERISA-regulated plan administration issues
- Health benefit and insurance issues (HIPAA, COBRA, etc.)
- Responsibilities related to plan investments fiduciary duties and liability issues
- Compliance and disclosure rules
- Prohibited transactions
- Detailed explanations of voluntary compliance programs
- Statutory, class, and individual exemptions
- Taft-Hartley plans (Multiemployer Plans)
- And More! See the "Table of Contents" section for a full list of topics
Additionally, the book includes complete information on disclosure requirements from the Employee Benefits Security Administration, IRS, Health and Human Services, and citations to key court cases and legislation. Department of Labor guidance on disclosure requirements is also provided.
