WASHINGTON, October 9, 2023 – The ERISA Industry Committee (ERIC) today submitted a letter to the U.S. Securities and Exchange Commission (SEC) requesting the withdrawal of a proposed rule, “Conflicts of Interest Associated With the Use of Predictive Data Analytics by Broker-Dealers and Investment Advisors” (published August 9, 2023 in the Federal Register) because of the increased costs and uncertainty it will impose on employer-sponsored savings plans, as well as millions of employees who rely on those plans to save for retirement.
Miscellaneous Archives:
The ERISA Industry Committee Urges House Ways and Means Committee to Pass Critical Bipartisan HSA Legislation
WASHINGTON, September 28, 2023 – The U.S. House of Representatives Committee on Ways and Means will hold a markup today on two pieces of legislation to improve health savings accounts (HSAs): the Bipartisan HSA Improvement Act of 2023 (H.R. 5688) and the HSA Modernization Act of 2023 (H.R. 5687).
The ERISA Industry Committee and Large Employers Urge the Senate to Pass PBM Legislation
EmployersRx, a coalition of the nation’s largest employers dedicated to bringing more transparency and accountability to health care for employers and their employees, calls on the Senate to enact meaningful pharmacy benefit manager (PBM) reform legislation.
ERIC, Coalition Allies File Amicus Brief Supporting AT&T Appeal Effort in Recordkeeping Claims Case
WASHINGTON, September 11, 2023 – The ERISA Industry Committee (ERIC) today filed a coalition amicus brief together with other groups representing sponsors and service providers of employee benefit plans in Bugielski et. al. v. AT&T, arguing that the decision by the United States Court of Appeals for the Ninth Circuit will have far-reaching negative consequences for plan participants, sponsors, and fiduciaries.
ERISA Industry Committee Says Access to Mental Health Care, Pharmacy Costs, and Health Care Transparency Top Concerns of Large Employers
WASHINGTON, August 28, 2023 – The ERISA Industry Committee (ERIC) today said the results of the 2024 Large Employer Health Care Strategy Survey released by the Business Group on Health (BGH) last week underscores three of the most significant concerns of ERIC members: access to quality mental health services by their employees; out-of-control pharmacy costs; and the need for greater transparency regarding health plan data and quality and cost-effective health care services.
ERISA Industry Committee Hails 10th Circuit’s Reversal of PCMA v. Mulready
The ERISA Industry Committee (ERIC) today lauded the 10th U.S. Circuit Court of Appeals’ reversal yesterday of a previous District Court decision in PCMA v. Mulready regarding provisions of an Oklahoma law controlling pharmacy benefit manager (PBM) practices.
The ERISA Industry Committee Calls for Extension of Comment Period for Proposed Rule on Mental Health Parity and Addiction Equity Act and Technical Release
WASHINGTON, August 9, 2023 – The ERISA Industry Committee (ERIC) and several health plans, employers, and associations sent a request to the Department of Labor/Employee Benefits Security Administration, U.S. Department to Health and Human Services/Centers for Medicare & Medicaid Services, and Department of Treasury/Internal Revenue Service’s to extend the comment periods for the recently released Notice of Proposed Rulemaking CMS-9902-P Requirements Related to the Mental Health Parity and Addiction Equity Act.
The ERISA Industry Committee Urges Congress to Reexamine Premiums Paid by Defined Benefit Pension Plan Sponsors
WASHINGTON, August 2, 2023 – The ERISA Industry Committee (ERIC) said today that the projected $63.3 billion surplus in ten years outlined in the Pension Benefit Guaranty Corporation’s (PBGC) just-released Fiscal Year 2022 Annual Projections Report should cause Congress to reexamine the premiums paid by companies that sponsor defined benefit pension plans.
ERIC & Coalition Partners Seek Relief From New SECURE 2.0 ACT Roth Contribution Requirements
WASHINGTON, July 19, 2023 – The ERISA Industry Committee (ERIC) and coalition partners today issued a letter to the U.S. Department of Treasury and the Internal Revenue Service requesting transition relief relating to a SECURE 2.0 Act provision requiring that individuals with FICA wages of more than $145,000 in the prior year make any retirement plan catch-up contributions on an after-tax (“Roth”) basis starting after December 31, 2023.
The ERISA Industry Committee Urges Rejection of New Jersey Health Care Bill
WASHINGTON, June 22, 2023 – The ERISA Industry Committee (ERIC) today submitted written testimony in opposition to New Jersey Assembly Bill 536/2841, asserting the legislation under consideration by the New Jersey Assembly Appropriations Committee oversteps state authority and seeks to control self-insured employer health care plans governed by the federal Employee Retirement Income Security Act of 1974 (ERISA). ERIC believes that the legislation would raise health insurance and prescription drug costs for New Jersey employers and employees.