Tag: DOL

Saving

DOL Extends Transition Period for Fiduciary Rule Exemptions

On November 27, the U.S. Department of Labor (DOL) announced an 18-month extension—from January 1, 2018 to July 1, 2019—of the special Transition Period for the Fiduciary Rule’s Best Interest Contract Exemption and the Principal Transactions Exemption, and of the applicability of certain amendments to Prohibited Transaction Exemption 84-24 (PTEs). This extension follows public comment […]

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benefits

Software Glitch Causes $100K Benefits Shortfall, DOL Says

A recent U.S. Department of Labor (DOL) Wage and Hour Division investigation of Alabama-based government contractor InfoPro Corp. found an unintentional software glitch caused employee health and welfare benefits to be underpaid from July 1, 2015, to September 30, 2016. Division investigators determined that InfoPro owed $126,329 in health and welfare benefits to 84 employees […]

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disability insurance

Update Your Disability Benefits Claims and Appeals Procedures Before 2018 Deadline

HR employees typically begin planning for next year before autumn of the current year because choices about the next year’s benefits are made months before it begins. Whether you’re making many or few changes to the benefits you offer, your preparations for open enrollment provide a good opportunity to confirm that your benefits plans are […]

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retirement

Comments May Enhance ERISA Council’s Attempt to Streamline Plan Disclosures

Communicating complicated employee benefit provisions is not easy. Explaining everything in a way that the average plan participant will understand just may not be possible. Different communication channels for different groups likely will have to be used; one size does not fit all. Let’s hope the DOL recognizes this.

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overtime

Time Running Out to Comment on Long-Stalled Overtime Rule

Employers and others have until September 25 to submit comments to shape the rule governing which workers are eligible for overtime pay. Once the deadline passes, employers will face a waiting game before learning what changes may be in store.

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retirement

DOL Seeks 18-Month Delay for Complying with Fiduciary Rule Exemptions

The U.S. Labor Secretary on August 9 disclosed in a short court filing that the Department of Labor (DOL) has submitted to the federal Office of Management and Budget (OMB) requests to amend three key aspects of the agency’s fiduciary rule and postpone its applicability to July 1, 2019.

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Health plan

Manager of Healthcare Network to Reimburse Plans for Fees, Says DOL

The U.S. Department of Labor (DOL) and a third-party administrator that provides employee health benefit plans with access to a network of doctors, hospitals, and other medical providers have reached an agreement in which the administrator has committed to improve its communications with health plans and to return certain fees the plans paid for claims […]

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