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to avoid ERISA preemption, while still holding PBMs accountable for
information on ERISA and the evolution of state reporting requirements
ERISA Section 105(1)(B)(i) requires the administrator of a defined benefit plan, other than a one-participant plan, to furnish a pension benefit statement every three years to each employee participant who has a nonforfeitable accrued benefit.
What types of defined benefit pension plans are not subject to Title IV of ERISA and, therefore, would be exempt from providing the annual funding notice?
The hospitals argued that pension plans do not have to be established by a church for the ERISA exemption to apply because the plans are maintained by qualifying church-affiliated organizations.
Courts of appeals for the Third, Seventh, and Ninth circuits agreed with the employees, concluding that ERISA's "plain text" requires that a pension plan be established by a church to qualify for the church-plan exemption.
Liberty Mutual: Supreme Court justices question Vermont's self-insured plan data call PPACA: Michigan Implements Rate Review Regs Supreme Court backs self-insured plans in ERISA case
For example, ERISA plans may seek to settle denial of benefits claims earlier in the litigation process.
ERISA plans may also become less likely to settle marginal claims out of concern that even a nuisance value settlement may open the doors to a fee award.
In the context of ERISA, a plan fiduciary must act as a "prudent 401 (k) expert," making informed decisions in the best interest of all affected employees.
ERISA acknowledges that it's not reasonable to expect a business owner to possess the professional knowledge necessary to make every 401(k)-related decision.
cases in which the courts denied the plaintiff-employees' ERISA