EBIA Weekly Newsletter

Employer Association’s Administrative Services Arrangement Is Not an ERISA Welfare Plan or a MEWA

   March 16, 2017

DOL Advisory Opinion 2017-01A (Jan. 13, 2017) Available at https://www.dol.gov/agencies/ebsa/employers-and-advisers/guidance/advisory-opinions/2017-01a The DOL has concluded that an association’s program of various administrative services for its members’ employee benefit plans is neither an ERISA employee welfare benefit plan nor a multiple employer welfare arrangement (MEWA). The program was developed by an association of large employers … Read More

DOL Issues Temporary Enforcement Policy to Address Uncertainty About Proposed Delay of Fiduciary Rule

   March 16, 2017

DOL Field Assistance Bulletin 2017-01 (Mar. 10, 2017) Available at https://www.dol.gov/sites/default/files/ebsa/employers-and-advisers/guidance/field-assistance-bulletins/2017-01.pdf The DOL has issued a field assistance bulletin (FAB) providing temporary relief from enforcement of the DOL’s final fiduciary rule on conflicts of interest in investment advice and related prohibited transaction exemptions (PTEs). The fiduciary rule and PTEs are first applicable April … Read More

Eighth Circuit Sends Fund-Mapping Case Back to Trial Court to Redetermine Damages

   March 16, 2017

Tussey v. ABB, 2017 WL 929202 (8th Cir. 2017) Available at http://media.ca8.uscourts.gov/opndir/17/03/152792P.pdf The Eighth Circuit has weighed in again on the fund-mapping portion of this long-running case. In its previous decision, the Eighth Circuit rejected the trial court’s determination that the fiduciaries of two 401(k) plans committed a fiduciary breach by replacing an … Read More