WASHINGTON – The U.S. Department of Labor announced today that its Employee Benefits Security Administration will hold an online hearing beginning Dec. 12 on the agency’s Notice of Proposed Rulemaking, “Retirement Security Rule: Definition of an Investment Advice Fiduciary,” and related proposed prohibited transaction exemption amendments, published in the Federal Register on Nov. 3, 2023.
WASHINGTON – The U.S. Department of Labor today announced that its Employee Benefits Security Administration has proposed a retirement security rule updating the definition of an investment advice fiduciary under the Employee Retirement Income Security Act.
NEW YORK – The U.S. Department of Labor has entered into a settlement agreement with EmblemHealth Inc., a New York-based insurer and third-party administrator of employment-based group health plans governed by the Employee Retirement Income Security Act, resolving claims that Emblem breached its fiduciary duties under federal law by engaging in a practice known as “cross-plan offsetting.”
WASHINGTON – The U.S. Department of Labor today announced a settlement with United of Omaha Life Insurance Co. that requires the company to revise how it administers its requirement that participants in employer-sponsored life insurance plans provide proof of good health — referred to as evidence of insurability — before obtaining coverage in certain instances.
CHICAGO – A Chicago food service provider for major airlines has agreed to reimburse $134,222 to participants in the company’s employee health plan after federal investigators found the employer improperly charged employees deductibles for certain diagnostic tests and wrongly imposed tobacco surcharges.
WASHINGTON – The U.S. Department of Labor has obtained a judgment barring a plan administrator and its CEOShelley Steele from serving as fiduciaries or service providers to any plan covered by the Employee Retirement Income Security Act, amid allegations they improperly paid themselves and affiliated businesses more than $100 million.
MADISON, WI – The U.S. Department of Labor has filed suit against the nation’s largest third-party medical claims administrator for routinely denying healthcare claims for emergency room services and urinary drug screening for at least 2,136 self-funded employee welfare benefit plans.
SALT LAKE CITY – A federal court in Utah has issued a preliminary injunction ordering the removal of the CEO and co-owner of Ascent Construction Inc. in Farmington as trustee of the company’s employee stock ownership plan after the U.S. Department of Labor learned he used more than $300,000 in the plan’s employee retirement funds to pay company business expenses.