Nixon Peabody LLP

  • People
  • Capabilities
  • Insights
  • About

Trending Topics

    • People
    • Capabilities
    • Insights
    • About
    • Locations
    • Events
    • Careers
    • Alumni

    Practices

    View All

    • Affordable Housing
    • Community Development Finance
    • Corporate & Finance
    • Cybersecurity & Privacy
    • Environmental
    • Franchising & Distribution
    • Government Investigations & White Collar Defense
    • Healthcare
    • Intellectual Property
    • International Services
    • Labor & Employment
    • Litigation
    • Private Wealth & Advisory
    • Project Finance
    • Public Finance
    • Real Estate
    • Regulatory & Government Relations

    Industries

    View All

    • Cannabis
    • Consumer
    • Energy
    • Entertainment
    • Financial Services
    • Healthcare
    • Higher Education
    • Infrastructure
    • Manufacturing
    • Non Profit
    • Real Estate
    • Technology

    Value-Added Services

    View All

    • Alternative Fee Arrangements

      Developing innovative pricing structures and alternative fee agreement models that deliver additional value for our clients.

    • Continuing Education

      Advancing professional knowledge and offering credits for attorneys, staff and other professionals.

    • Crisis Advisory

      Helping clients respond correctly when a crisis occurs.

    • DEI Strategic Services

      Providing our clients with legal, strategic, and practical advice to make transformational changes in their organizations.

    • eDiscovery

      Leveraging law and technology to deliver sound solutions.

    • Global Services

      Delivering seamless service through partnerships across the globe.

    • Innovation

      Leveraging leading-edge technology to guide change and create seamless, collaborative experiences for clients and attorneys.

    • IPED

      Industry-leading conferences focused on affordable housing, tax credits, and more.

    • Legal Project Management

      Providing actionable information to support strategic decision-making.

    • Legally Green

      Teaming with clients to advance sustainable projects, mitigate the effects of climate change, and protect our planet.

    • Nixon Peabody Trust Company

      Offering a range of investment management and fiduciary services.

    • NP Capital Connector

      Bringing together companies and investors for tomorrow’s new deals.

    • NP Second Opinion

      Offering fresh insights on cases that are delayed, over budget, or off-target from the desired resolution.

    • NP Trial

      Courtroom-ready lawyers who can resolve disputes early on clients’ terms or prevail at trial before a judge or jury.

    • Social Impact

      Creating positive impact in our communities through increasing equity, access, and opportunity.

    1. Home
    2. Insights
    3. Videos
    4. Fall 2022 Employee Benefits BriefingVideos

    Fall 2022 Employee Benefits Briefing

    Dec 16, 2022

    Share

    By Lena Gionnette, Christian Hancey, Damian Myers and Eric Paley

    From litigation to retirement plan compliance efforts, Nixon Peabody attorneys discuss employee benefits legal updates for fall 2022.

    Our fall briefing discussed legislative and regulatory changes that impact health and welfare benefits-related issues for employers. Topics included retirement plan regulatory pronouncements, health and welfare compliance efforts, and retirement plan compliance efforts.

    Key takeaways from our conversation:

    • New ESG regulations chart a path to add ESG investment options to a 401(k) plan or 403(b) plan.
    • Target-date funds are in the spotlight due to continuing litigation claims and new product innovations for customized options and retirement income strategies.
    • The IRS has expanded its determination letter program to 403(b) plans. Tax-exempt sponsors of individually designed 403(b) plans should consider taking advantage of the program as a way to obtain assurance from the IRS that their plan document satisfies the Code’s requirements.
    • There’s good news in store for retirement plan sponsors with late contribution issues. The DOL has issued a proposal that, if finalized, will make it easier for plan sponsors to self-correct certain late deferrals and late loan repayments by using the DOL calculator to determine lost earnings and filing a fairly simple notice with the DOL.
    • In light of the current landscape for excessive fee litigation, it is recommended that plan sponsors revisit and shore up their fiduciary processes, review their liability coverage to understand their risk exposure, and consider the pros and cons of engaging an investment manager over an investment advisor.
    • While plans are not legally precluded from offering cryptocurrency as an investment option, we strongly discourage them from doing so in view of the difficulty of reconciling such an option with their fiduciary duty of prudence and the risk of increased scrutiny by the Department of Labor.
    • Sharing participant data with plan vendors for non-plan purposes is a hot-button issue. Sponsors would be advised to expressly prohibit this practice entirely under their service arrangements.
    • Mental health parity remains an enforcement hot button for the DOL. Self-insured employers should take action to ensure NQTL comparative analyses are complete.
    • Given the increasing risk of fiduciary liability under health and welfare plans, plan sponsors should consider forming health and welfare fiduciary governance committees to monitor service provider fees and performance.
    Labor and EmploymentVideo

    Practices

    Employee Benefits & ERISALabor & EmploymentLabor & Employment Litigation

    Value-Added Services

    Continuing Education

    Insights And Happenings

    • Alert

      FTC proposes nationwide ban on non-competes

      Jan 5, 2023
    • Alert

      A holiday gift for retirement plans — the SECURE 2.0 Act of 2022

      Jan 3, 2023
    • Alert

      New York Labor Law now prohibits discipline for protected absences

      Dec 27, 2022

    Subscribe to stay informed of the latest legal news, alerts, and business trends.Subscribe

    • People
    • Capabilities
    • Insights
    • About
    • Locations
    • Events
    • Careers
    • Alumni
    • © 2023 Nixon Peabody. All rights reserved
    • Privacy Policy
    • Terms of Use
    • Statement of Client Rights
    • Supplier Diversity Program
    • Nixon Peabody International LLC
    • PAL