Press Releases

Electronic Disclosure is a Necessary Tool for Benefit Plan Sponsors

The ERISA Industry Committee is pleased the Trump Administration recognized the need to modernize how employers can send required disclosures and notices to plan recipients in its most recent Executive Order… More

ERIC Supports Congress on Efforts to Enhance Retirement Security

The ERISA Industry Committee (ERIC) is pleased that the Family Savings Act was passed out of the House Ways and Means Committee and encourages its passage out of the U.S. House of Representatives… More

U.S. House of Representatives Should Vote Yes to Delay Cadillac Tax

ERIC sent a letter to the U.S. House of Representatives urging lawmakers to vote yes on H.R. 3798, the “Save American Workers Act of 2018.”… More

ERIC and Seattle Agree to Temporary Exemption in Wake of Lawsuit

ERIC is pleased the City of Seattle has agreed to a temporary non-enforcement of the health coverage and payment mandates in Part 3 of the Seattle Hotel Employees Health and Safety Initiative - SMC 14.25 … More

ERIC to Work with Trump Administration to Enhance Retirement Security

The ERISA Industry Committee (ERIC) applauds the Trump Administration for today’s executive order promoting programs that enhance retirement security and expanding access to workplace retirement savings plans for American workers… More

ERIC Offers IRS a Helping Hand on Student Loan Debt

ERIC today sent the Internal Revenue Service (IRS) a letter regarding retirement savings programs for individuals repaying student loans. In the letter, ERIC praised the IRS for issuing Private Letter Ruling-131066-17, which permits the 401(k) plan sponsor that requested the PLR to contribute to the company’s 401(k) plan on behalf of plan participants who pay down student loan debt but do not necessarily contribute to the company’s 401(k) plan … More

The ERISA Industry Committee Files Lawsuit Against City of Seattle

ERIC today filed a complaint in the U.S. District Court for the Western District of Washington against the City of Seattle for obstructing the federal law that enables large employers to administer health and retirement benefits uniformly across the country. ERIC is requesting an injunction and a declaration from the court that federal law supersedes and preempts the health coverage and payment mandates in Part 3 of the Seattle Hotel Employees Health and Safety Initiative - SMC 14.25; ERIC hopes to work with the City and negotiate a temporary nonenforcement agreement, at least until a decision in the case is reached… More

ERIC Submits Comments on Proposed New York City Retirement Program

ERIC submitted comments with the New York City Council regarding proposed bill Int. 0888-2018, that would establish a retirement savings program for private-sector employees. ERIC supports proposals and programs run by states and localities designed to promote and facilitate retirement saving by those employed by an employer that does not provide a retirement plan, but has concerns about how the proposed program overlaps and connects with the Employee Retirement Income Security Act of 1974 (ERISA), the federal law that already governs the administration of private-sector retirement plans … More

ERIC’s Efforts Help to Advance HSA Improvement Legislation

The ERISA Industry Committee (ERIC) is pleased that the U.S. House of Representatives today came together and voted to pass H.R. 6199, the ‘Restoring Access to Medication and Modernizing Health Savings Accounts Act of 2018.’… More

ERIC Offers Guidance on Missing Plan Participants

ERIC sent a letter to Assistant Secretary of Labor Preston Rutledge encouraging the Department of Labor (DOL) to focus its efforts on developing guidance related to the challenge of employers locating missing retirement plan participants. The letter also asks that until guidance is provided, the DOL should stop issuing letters that allege an employer has committed a breach of fiduciary duty with respect to the practices utilized to locate missing retirement plan participants… More

ERIC Weighs in on National Paid Family and Medical Leave Law

The ERISA Industry Committee (ERIC) today submitted a statement for the record to the Senate Finance Subcommittee on Social Security, Pensions, and Family Policy, following its hearing on the importance of paid family and medical leave… More

ERIC is Working to Make Prescription Drugs More Affordable

The ERISA Industry Committee (ERIC) today submitted comments to the Department of Health and Human Services (HHS) in response to its request for information related to the HHS Blueprint to Lower Drug Prices and Reduce Out-of-Pocket Costs… More

ERIC Works to Bring Clarity to Mental Health Parity Laws

ERIC today filed comments with the Departments of Health and Human Services, Labor, and Treasury on mental health parity compliance. The comments focused on the time needed for plan sponsors to prepare for and come into compliance with new requirements, more stakeholder input on the processes, definitions, and interpretations by the agencies, and flexibility by the agencies in enforcing the MHPAEA rules… More

ERIC Provides Guidance on Determination Letter Program

ERIC continues to provide guidance to the U.S. Department of the Treasury and Internal Revenue Service on the determination letter program… More

ERIC Urges Michigan Governor to Repeal Tax on Health Care Claims

In place since 2012, the one percent tax on health insurance claims (of both insured and self-insured plans) was paid by plan administrators for medical services rendered in the state to Michigan residents. ERIC had long held that the tax violated a provision of the Employee Retirement Income Security Act (ERISA), which pre-empts state and local laws that relate to employee benefit plans… More

Employer Groups Call for Suspension of Tax Assessments and Repeal of the Employer Mandate

The ERISA Industry Committee (ERIC) joined a number of employer trade associations to call upon the U.S. Department of the Treasury, the Department of Health and Human Services, and the Internal Revenue Service to end the illegal enforcement of the Affordable Care Act’s employer mandate… More

ERIC Supports Pennsylvania Telehealth Legislation

The ERISA Industry Committee (ERIC) submitted testimony to the Pennsylvania State Senate in support of Senate Bill 780 (S. 780)… More

ERIC Settles Lawsuit Against Oregon Retirement Savings Board, Secures Exemption for ERIC Members

ERIC has settled its lawsuit against the Oregon Retirement Savings Board (OSRB). ERIC sued the OSRB last October for violating the Employee Retirement Income Security Act of 1974 with the employer reporting requirement imposed by its state-run mandatory retirement plan, OregonSaves… More

ERIC Asks For Pay Parity Change in Connecticut Telehealth Legislation

ERIC has asked the Connecticut General Assembly Joint Committee on Public Health to eliminate provisions in House Bill 5299 that would artificially inflate the cost of telemedicine by imposing government requirements on reimbursement rates… More

ERIC and Broad Coalition Push Health Savings Account Reforms for Omnibus

ERIC has teamed with a diverse coalition of partners to promote a bipartisan legislative package to fix longstanding challenges with Health Savings Accounts (HSAs) and high-deductible health plans… More

Congress Must Act Now to Update HSA Policies

The ERISA Industry Committee (ERIC) strongly endorses the Bipartisan HSA Improvement Act of 2018, and calls on both the United States Senate and House of Representatives to move swiftly to enact the bill’s broadly-supported updates to Health Savings Accounts (HSAs) and the HSA Flexible Health Plans that go with them… More

ERIC Supports the Retirement Savings Lost and Found Act

ERIC supports Senator Elizabeth Warren’s (D-MA) introduction of the “Retirement Savings Lost and Found Act,” which would create a central database allowing current and soon-to-be retirees to view the location of their retirement funds. It also provides needed guidance to employers on the steps that must be taken to locate former employees who are still vested in the company’s retirement plan… More

ERIC Applauds Inclusion of CHRONIC Care Act in Continuing Resolution

The ERISA Industry Committee (ERIC) applauds the U.S. House of Representatives for including the CHRONIC Care Act in the Continuing Resolution (CR), which will expand the use of telehealth for treating and diagnosing strokes and make it easier for enrollees to pay for telehealth services… More

ERIC Victory: Congress Delays Cadillac Tax Until 2022

Today marks a victory for ERIC. Nine years ago, ERIC began its fight against the 40 percent ‘Cadillac’ excise tax on employer-sponsored health insurance, and strongly supported the 2-year delay contained in the Continuing Resolution… More

ERIC Looks Forward to Working with DOL to Combat Regulatory Burdens

As we begin 2018, The ERISA Industry Committee looks forward to working with leadership at the Department of Labor (DOL), including newly confirmed Assistant Secretary of Labor for the Employee Benefits Security Administration (EBSA), Preston Rutledge, to combat the regulatory burdens imposed on companies that sponsor employee benefit plans… More