New challenges to penalty assessments under section 502(1) of ERISA
Article Abstract:
Supreme Court decisions on plan fiduciaries under the Employee Retirement Income Security Act of 1974 (ERISA) may have new options when faced with payment demand under section 502(1). Section 502(1), whether or no approved by Congress, will have an impact on the nature of penalty assessments against plan fiduciaries. This is exemplified in the Rodrigues vs. Herman case and the Citywide Bank of Denver vs Herman case. Moreover, under section 502(1), fiduciaries are allowed to negotiate settlement agreements with the DOL and challenge assessments in court.
Publication Name: Journal of Compensation and Benefits
Subject: Insurance
ISSN: 0893-780X
Year: 1998
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New court decisions shed light on COBRA compliance
Article Abstract:
Employers often encounter problems in the implementation of COBRA guidelines. COBRA requires employers to provide retiring employess continued health insurance coverage for 18 months but not beyond 102% of their regular premiums. The administration of these regulations are complicated because they are also included in Section 4980B of the Internal Revenue Code, Sections 601 to 608 of the ERISA and Title XXII of the Public Health Services Act. Courts often settle cases involving these regulations in favor of employees.
Publication Name: Journal of Compensation and Benefits
Subject: Insurance
ISSN: 0893-780X
Year: 1992
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A checklist for handling benefits and compensation issues
Article Abstract:
Companies downsize their workforce to cope with prevailing economic conditions. Firms which lay off employees sometimes violate the former's rights to due benefits and compensation. Companies must prepare a reduction in force (RIF) plan to avoid employer liability when laying off workers. The plan should cover compensation and benefits provided under COBRA, ADEA, OWBPA and ERISA laws and include incentives from profit-sharing schemes, pension and other retirement plans.
Publication Name: Journal of Compensation and Benefits
Subject: Insurance
ISSN: 0893-780X
Year: 1992
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