DOL issues advisory opinions concerning preemption, investment directions and MEWAs
Article Abstract:
Advisory opinion letters issued by the US Department of Labor in February and March 1996 focused on preemption of state laws under the Employee Retirement Income Security Act (ERISA), 401(k) plan investments and multiple employer welfare arrangements. Laws in Puerto Rico, California and Connecticut were found to be preempted by ERISA, but Minnesota insurance laws were not preempted. A health benefits plan was found to be a multiple employer welfare arrangement not subject to ERISA despite the fact that the plan had both separate reinsurance accounts and a joint custodial account.
Publication Name: Tax Management Compensation Planning Journal
Subject: Law
ISSN: 0747-8607
Year: 1996
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Archer introduces medical savings account legislation
Article Abstract:
The Family Medical Savings and Investment Act of 1995, a bill introduced in the US House of Representatives, would provide individuals with tax-free means of saving for medical expenses not otherwise covered by their health plan. Such expenses might arise for persons with catastrophic health care plans that have deductibles of $1,800 or greater. The savings accounts would be structured like a trust with funds being used for no other purpose. Under the bill, employer-provided medical coverage and employer contributions to a medical savings account would be excluded from income.
Publication Name: Tax Management Compensation Planning Journal
Subject: Law
ISSN: 0747-8607
Year: 1995
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DOL seeks input on need for regulation clarifying COBRA notice rules
Article Abstract:
The US Dept of Labor issued a formal request for information regarding notice requirements for employer compliance with the Consolidated Omnibus Budget Reconciliation Act of 1985 (COBRA). Litigation concerning notice, complaints by individuals, and COBRA amendments have created a need for formal notice guidance according to the Labor Dept. Initial, qualifying event, election right, and social security disability notice are the major categories of information requested to be received before Nov 24, 1997.
Publication Name: Tax Management Compensation Planning Journal
Subject: Law
ISSN: 0747-8607
Year: 1997
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- Abstracts: DOL issues class exemption for plan asset transactions determined by in-house asset managers. Employer's direct payment of investment management fees and compensation on qualified plan's behalf are deductible under section 162 and are not plan contributions
- Abstracts: "Political opinion" given broad meaning. "Intentional" indirect discrimination finding upheld. Employers not vicariously liable for discrimination
- Abstracts: Extension of employment protection rights. Contractual rights. Draft agreement on part-time work
- Abstracts: No way out: an argument against permitting parties to opt out of U.S. securities laws in international transactions
- Abstracts: Lawyers help educate new citizens; in light of the political climate, advocates for immigration rights now view voter participation as the ultimate goal of citizenship