DOL finds employer-owned cash value in split-dollar arrangement is not plan asset

Article Abstract:

The Department of Labor (DOL) has ruled that 'plan assets' according to Title I of ERISA do not include an employer's share of a split-dollar life insurance policy's cash value. This means that the employer's creditors have a claim on the cash value and that the employer can borrow from the cash value. The company requesting this advisory opinion from DOL had found that this type of life insurance would be cheaper than a group-term life insurance plan.

Analysis, Split-dollar life insurance, Split dollar life insurance

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The standard of review applicable to benefit denials: does the de novo standard apply to review of factual determinations?

Article Abstract:

The US Supreme Court did not state whether the de novo standard of judicial review should be required for factual findings made by fiduciaries of ERISA plans in Firestone Tire & Rubber Co v Bruch. There are arguments both for and against this requirement and federal courts have ruled both ways.

Laws, regulations and rules, Judicial review of administrative acts

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