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Letter to Senate Committee on Commerce, Science, and Transportation on FAA Bill

As your committee works to produce a comprehensive FAA reauthorization bill, urgent attention is needed to reform the regulation of the air ambulance system in our nation. Without reform, America’s families and health care providers face an increasing and often conflicting set of rules and regulations that fail to provide any semblance of financial certainty when life-saving air ambulance services are employed… 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

protected content Employer Stock Offerings Survey

Back in 2014, ERIC conducted a survey on employer stock offerings as it related to defined contribution plans in the wake of the Supreme Court's decision in Fifth Third Bancorp v. Dudenhoeffer. In an effort to understand how employers are changing over time, ERIC conducted a spot survey on employer stock offerings as a part of an employer's defined contribution plan(s)… More

protected content Tax Reform 2.0 on the Horizon

Surprisingly, we have seen a huge focus on retirement issues in the past several weeks in Washington, DC. From the introduction of four bi-partisan bills last week (see the Weekly Retirement Email) to a significant portion of the latest Republican Tax Framework focusing on retirement policy – I expect it to be a very busy end of the year with respect to retirement policy… More

protected content ACA tax delay and HSA bills pass House, Rx gag clause bill advances, Possible Senate opioids action,

I hope you are all having a good week. Congress has been surprisingly busy on health care lately, and ERIC has been very much in the mix. This email will analyze some of this recent activity and look at likely scenarios going forward… 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 Urges House to Pass Bipartisan HSA Bill

Today, ERIC sent a letter to members of the U.S. House of Representatives urging them to vote yes on H.R. 6199. This bill would make a number of important improvements to health savings accounts … 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

protected content Non-Qualified Deferred Compensation Spot Survey

ERIC created a spot survey on the use and prevalence of rabbi trusts to fund non-qualified deferred compensation (NQDC)… More

protected content Alert: NYC Fair Workweek Law Changes Take Effect

Wednesday, amendments to New York City's Fair Workweek Law officially went into effect. Int. 1399 (now Local Law 69), requires employers to allow employees to make 2 temporary schedule changes per year. This measure was first introduced to the City Council in December 2016 and was enacted in January of this year… More

protected content “Health Week” vs “Employer Week,” Rx Battle, Biosimilars Plan, and More!

According to sources on Capitol Hill, next week the House of Representatives will vote on a number of health-related bills. They have not revealed exactly what those bills will be, but we do have some information… More

protected content IRS Final Rule; New Legislation; Tidbits of Info

On Tuesday, a group of four Senators (two Republicans and two Democrats) introduced 4 bills that focus on retirement and emergency savings. The primary bill that impacts large employers would be the first one listed below – The Strengthening Financial Security Through Short-Term Savings Act… 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 Submits Comments to HHS on the President’s “American Patients First” Blueprint

Today, ERIC 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

protected content Draft Rx RFI Comments, HSA Markup Noticed

I just wanted to share that the House Ways and Means Committee officially announced their HSA markup. Here's the lineup. If you look at my update from last week, we were pretty spot-on in terms of predictions… More

protected content Family Leave, Lifetime Income, Rothification

The Senate Finance Committee has scheduled a hearing to discuss Paid Family Leave. The hearing will be before the Subcommittee on Social Security, Pensions, and Family Policy… More

protected content PBM vs. Employers? HSA markup next week, ESRD threat rising, and more

Reported in Politico Thursday morning, one of the Big Three PBMs sent this letter to Secretary of Health and Human Services (HHS) Alex Azar. The letter was in response to Azar suggesting that PBMs do not want lower list prices for drugs, and in it, the PBM says they do in fact want lower list prices – but the letter focuses mostly on out-of-pocket costs… More

protected content Alert: State & Local Retirement Program Updates

I would like to take a minute to provide a few updates on retirement programs and proposals across the country, at both the state and local levels. Below you will find information on a newly proposed local plan, two regulatory updates for states' secure choice programs, and a reminder on how to gain exemption from OregonSaves… More

Legislative Proposal to Expand SCP

ERIC, along with other organizations, sent a letter to Senators Orrin Hatch and Ron Wyden with a proposal to restructure IRS operations. The proposal would direct the IRS to expand the self-correction program within the IRS’s Employee Plan Compliance Resolution System, to enable businesses with retirement plans to more easily correct common mistakes… More

Joint Association Letter Regarding Missing and Unresponsive Participants

On behalf of the undersigned organizations, we thank you for the meeting we had with your senior staff on May 16 regarding the issue of missing and unresponsive participants and beneficiaries. While we were sorry you could not attend, we had a productive dialogue with staff from the Department of Labor’s Employee Benefits Security Administration (EBSA)… More

protected content Alert: Bills Requiring Report on Employers with Employees on State Medical Assistance

We wanted to bring to your attention a couple of concerning bills that are similar in nature to Minnesota House Bill 3572, which ERIC alerted you to earlier this year (it saw no movement before session ended). These bills would require a state report on employers with employees on the states’ public health programs… 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

protected content Alert: Massachusetts One Step Closer to Paid Family Leave

Things are moving quickly in Massachusetts for paid family and medical leave. In just the past two days the state legislature reached a compromise, voted on the measure in both chambers, and passed it without amendment… More

ERIC Submits Letter to HRC on its Corporate Equality Index

We are writing about some of the new criteria added to the 2019 Corporate Equality Index (CEI) announced by the Human Rights Campaign (HRC)… More

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