On May 13, 2026, the Departments of Treasury, Labor, and Health and Human Services jointly published proposed regulations that would establish a new category of “limited excepted benefits” for fertility-related coverage under Employee Retirement Income Security Act of 1974 (ERISA), the Internal Revenue Code, and the Public Health Service Act. If finalized, these rules would
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Minnesota Secure Choice: What Employers Need to Know as Compliance Deadlines Approach
By Cynthia Lee & Inés Sosa
Minnesota’s Secure Choice Retirement Program requires employers doing business in Minnesota to either enroll workers in the state’s payroll‑deduction IRA program or, if the employer already offers a qualifying retirement plan (e.g., a 401(k), 403(b), SEP, or SIMPLE), to certify its exemption from that requirement by the end of the employer’s assigned registration window. All…
DOL Takes Aim at Proxy Advisory Services—What Plan Fiduciaries Need to Know About Technical Release 2026-01 and Their Fiduciary Duties Related to Proxy Voting
President Trump is strongly critical of proxy advisory services and last year directed several federal agencies — including the Department of Labor (DOL) and the Securities and Exchange Commission (SEC) — to do something about it. In his December 11, 2025, executive order, President Trump stated that “proxy advisors regularly use their substantial power to…
ERISA Litigation Roundup: Supreme Court Unanimously Rules Multiemployer Pension Plans May Use Post-Measurement-Date Actuarial Assumptions to Calculate Withdrawal Liability
On May 21, 2026, the US Supreme Court issued a unanimous decision in M & K Employee Solutions, LLC v. Trustees of the IAM National Pension Fund, No. 23-1209, resolving a circuit split on a question of enormous financial consequence to employers participating in multiemployer pension plans (MPPs): whether a plan’s actuary must adopt its…
The IRS Makes It Easy for Employers to Set Up an Educational Assistance Plan
By Mark Rosenfeld & Inés Sosa
The Internal Revenue Service (IRS) recently issued a template plan document that employers can use to establish a qualified educational assistance program under Section 127 of the Internal Revenue Code (Code). For employers looking for a straightforward plan, the IRS has made it simple. For employers with more tailored objectives, including around course restrictions, grade…
Thinking ESOPs: Department of Labor Identifies New Enforcement Priorities
By Rick Pearl
The Employee Benefits Security Administration’s (EBSA) April 2026 Field Assistance Bulletin marks a pivotal change in Department of Labor enforcement for ESOPs. The new guiding principles and enforcement priorities are designed to curb aggressive, unpredictable actions by the DOL, especially around ESOP valuation, and to ensure fair treatment for plan fiduciaries. These changes prioritize targeting…
DOL Proposes New Rules for Electronic and Paper Benefit Statements
On February 25, 2026, the Department of Labor (DOL) released proposed regulations that would amend the rules for electronic delivery of employee benefit plan disclosures, as required by SECURE 2.0. These proposals aim to harmonize the DOL’s electronic disclosure safe harbors with new statutory mandates regarding paper statements for retirement plans.
A Brief History of…
DOL Proposes New PBM Fee Disclosure Rules
On January 30, 2026, the Department of Labor (DOL) published proposed regulations that would require pharmacy benefit managers (PBMs) to disclose direct and indirect compensation that PBMs (and their affiliates, agents, and subcontractors) receive in connection with providing pharmacy benefit management services (or advice, recommendations, and referrals regarding such services) to self-insured group health plans.…
Roth Catch-Up Rules for Rehires: What Employers Need to Know Under the Final Regulations
SECURE 2.0 and the final IRS regulations on Roth catch-up contributions introduce a significant administrative consideration for employers and plan administrators: how does the Roth-only catch-up rule apply to rehired employees?
Background
Section 603 of the SECURE 2.0 Act requires catch-up contributions to be made as after-tax Roth contributions if the contributing employee received wages…
The Roth Catch-Up Contribution Requirement and a Statutory Merger
As the Roth catch-up contributions become effective this month, issues not addressed in the final regulations are coming to light.
Question: Our company completed a statutory merger — how does that impact the Roth catch-up contributions requirement?
Answer: Based on past IRS guidance, it is more than likely that an employee of either company in…