Fiduciary duties

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As employers begin 2026, a new wave of Employee Retirement Income Security Act (ERISA) litigation is emerging involving voluntary products that serves as an important reminder that accurate Form 5500 reporting, fiduciary best practices, and good governance procedures are important for all ERISA-governed plans. According to Jackson Lewis’s recent article, several newly filed suits…

  • A bipartisan bill introduced in December 2025 would amend ERISA to treat pharmacy benefit managers (PBMs) as fiduciaries when providing services to employer-sponsored group health plans.
  • If enacted, the legislation would impose fiduciary duties, require detailed compensation disclosures, and restrict contractual indemnification provisions that shift fiduciary risk to plans.
  • Employers may gain increased transparency
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Introduction

On August 7, 2025, President Donald J. Trump issued an Executive Order designed to broaden access to alternative investments, such as private equity, commodities, real estate, and certain digital assets, for participants in 401(k) and other defined contribution retirement plans. The initiative is framed as an effort to “democratize” investment opportunities that were historically…

It is increasingly evident that artificial intelligence (AI) is reshaping all facets of business, and its impact on employee benefit plans is no exception. From automating plan administration to personalizing participant communications, AI introduces both new opportunities and new responsibilities for those overseeing Employee Retirement Income Security Act of 1974 (ERISA)-covered retirement and health plans…

  • The 2025 CAR does not alter ERISA’s substantive fiduciary standards and considerations but eases the DOL’s previously hostile enforcement stance toward cryptocurrency and similar digital assets in 401(k) plans, restoring a “neutral” DOL enforcement approach. 401(k) plan fiduciaries must still consider all relevant ERISA factors and apply the necessary care, skill, prudence, and diligence
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As we bid farewell to 2024 and look ahead to the new year, we reflect on the many evolving compliance obligations that health and welfare plan sponsors tackle each year. Although this list is by no means exhaustive, it highlights four items and associated deadlines that have recently emerged on the health and welfare scene.

As we conclude our “Health Plan Hygiene” blog series, we reflect on the important insights shared about fiduciary responsibilities under the Employee Retirement Income Security Act of 1974 (ERISA) and highlight the risk posed by recent group health plan fiduciary litigation and offered strategies for mitigating these risks by meeting ERISA obligations. We have explored…

Our “health plan hygiene” series has focused on steps that fiduciaries of employer-sponsored group health plans can take to ensure they meet their fiduciary responsibilities.  This issue has been brought to the forefront recently due to a wave of class action lawsuits that have been brought against group health plan fiduciaries.  In our last post…

A health plan’s fiduciaries are responsible for administering the health plan.  Because most employers are not in the business of administering health benefits, they outsource the day-to-day health plan administration to a third-party health plan administrator (TPA).  This outsourcing does not mean the employer is off the hook for their fiduciary obligations under ERISA.  Even…

A little more than three years ago, the U.S. Department of Labor (DOL) posted cybersecurity guidance on its website for ERISA plan fiduciaries. That guidance extended only to ERISA-covered retirement plans, despite health and welfare plans facing similar risks to participant data.

Last Friday, the DOL’s Employee Benefits Security Administration (EBSA) issued Compliance Assistance Release…