julie

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So far julie has created 9 blog entries.

Benefit Plan Discretionary Clauses Dealt A Blow In California

By: Joe Yonadi and Nancy Chawla

Last month, the Ninth Circuit dealt a blow to discretionary clauses contained within ERISA plans when it held that a California statutory provision that banned discretionary clauses was not preempted by ERISA. Orzechowski v. Boeing Co. Non-Union Long-Term Disability Plan (9th Cir. May 11, 2017).

Almost three decades ago, the U.S. Supreme Court created the rule that a de novo standard of review should apply to a denial of benefits claim […]

2017-07-21T12:38:11+00:00 July 21st, 2017|0 Comments

Olay! Olay! Olay! Olay!…No Fiduciary Rule DELAAAAY! No Fiduciary Rule DELAAAAY!

By: Joseph P. Yonadi, Jr. and Shaylor R. Steele

The delays are over, the Fiduciary Rule’s applicability date will not be delayed past June 9, 2017. Accordingly, plan sponsors, and the financial services industry, should be prepared to comply with the rule beginning on June 9, 2017.

However, Secretary Acosta also indicated that the DOL will continue to seek industry and public input on how to revise the bill and eliminate its negative effects on the […]

2017-06-01T09:56:58+00:00 June 1st, 2017|0 Comments

On Second Thought, DOL Proposes 60-Day Delay to Fiduciary Rule Applicability Date

By: Joseph P. Yonadi, Jr. and Nancy R. Chawla

On March 1, 2017, the Department of Labor’s (DOL) issued a proposed rule to extend the Fiduciary Rule applicability date by 60 days. The current applicability dates for the Fiduciary Duty Rule and prohibited transaction exemptions are set for April 10, 2017. The extension would move the applicability dates to June 9, 2017.

As mentioned in our previous blog post, “To Delay or Not to Delay (the Fiduciary […]

2017-03-03T16:24:20+00:00 March 3rd, 2017|0 Comments

To Delay or Not to Delay (the Fiduciary Duty Rule), That is the Question

By: Joseph P. Yonadi, Jr. and Shaylor R. Steele

This morning, the Office of Management and Budget (OMB) concluded its review of a proposed regulation entitled “Delay of Applicability Date” that would effectively delay the implementation of the Fiduciary Duty Rule (Rule). However, an odd turn of events took place when the OMB changed the designation of the delay to “economically significant.” This higher designation could potentially mean a longer comment period. The Department of Labor […]

2017-02-28T20:48:48+00:00 February 28th, 2017|0 Comments

QSEHRA Notice Requirement Deadline Suspended

By: Joseph P. Yonadi, Jr.

In an effort to provide small employers with additional time to furnish the required QSEHRA initial written notice, Treasury and IRS have suspended the deadline until further guidance has been issued that will include a revised notice deadline. For 2017, the first required written notice would have been due on March 13.

Our January 23 blog post apprised you of the 21st Century Cures Act, enacted this past December, that created a […]

2017-03-01T10:22:11+00:00 February 28th, 2017|0 Comments

President Obama Provides a Parting Gift: A Health Reimbursement Arrangement for Small Employers

Authors: Joe Yonadi and Nancy Chawla

In December 2016, President Obama signed into law the 21st Century Cures Act (Act), giving employers with less than 50 employees a tool to help their employees pay for medical expenses without being subject to the Affordable Care Act’s (ACA) market reform requirements.

ACA Exemption
Beginning January 1, 2017, small employers may offer Qualified Small Employer Health Reimbursement Arrangements (QSEHRA) to employees who purchased health plans in the individual market. Since the […]

2017-01-23T10:00:12+00:00 January 23rd, 2017|0 Comments

A New Year’s Eve Surprise…Court Enjoins the HHS From Enforcing the ACA’s Prohibition of Discrimination on the Basis of “Gender Identity” and “Termination of Pregnancy”

Authors: Joe Yonadi and Nancy Chawla

On December 31, 2016, the U.S. District Court for the Northern District of Texas issued a nationwide preliminary injunction preventing the Department of Health and Human Services Office of Civil Rights (HHS) from enforcing Section 1557 of the Patient Protection and Affordable Care Act (ACA) that prohibits discrimination on the basis of “gender identity” and “termination of pregnancy.” See Franciscan Alliance, Inc. v. Burwell, No. 7:16-cv-00108-O (N.D. Tex. Dec. 31, […]

2017-01-13T11:27:14+00:00 January 13th, 2017|0 Comments

5th Circuit Upholds Strict Pleading Standard in BP Stock Drop Case

Author: Shaylor Steele and Joe Yonadi

BP sponsored an investment and savings plan which contained an ESOP component comprised of BP stock as an investment option for participants.  On June 24, 2010, plaintiff-investors sued BP due to the sharp decline in BP stock after the Deepwater Horizon drilling rig explosion that caused a massive oil spill.  Plaintiffs alleged the following:  (1) that the plan fiduciaries breached their duties of prudence and loyalty by allowing the plans […]

2017-01-01T14:04:19+00:00 September 29th, 2016|0 Comments