The One Big Beautiful Bill Act contains substantial changes to student loans, and, as a result, employers may wish to consider revising their current employee benefits plans to attract new employees and assist current employees with their student loan obligations.

Explore how the Department of Labor’s May 2026 proposed rules designate fertility benefits as a "limited excepted benefit," offering employers more flexibility and fewer regulatory burdens.

Prepare for the July 4, 2026 rollout of Trump Accounts under the OBBA. Learn about employer contribution limits, the $1,000 federal seed, and how to handle upcoming employee payroll deduction requests.

The Fourth Circuit establishes a non-exhaustive list of six factors to be used when evaluating the ERISA status of a bonus or incentive plan. Determine if your incentive compensation program is an ERISA-exempt bonus plan or subject to ERISA’s reporting, claims, vesting timing, and funding provisions.

The Department of Labor (“DOL”) issued Technical Release 2026-01, and an accompanying News Release, declaring proxy advisors who render their services pursuant to a mutual understanding on an ongoing basis for a fee will ordinarily be considered a plan fiduciary.

In January 2026, the U.S. Department of Labor (“DOL”) issued proposed regulations designed to leverage ERISA’s prohibited transaction rules to make more transparent the fees paid to pharmacy benefit managers (“PBMs”) by self-funded group health plans.

Mitigate 401(k) forfeiture litigation risk in 2026. A 3-step fiduciary guide to plan document compliance, auditing operations before the SECURE 2.0 deadline, and analyzing recent ERISA settlements like Providence Health and Capital One.

Discover how the Employee Plans Compliance Resolution System (EPCRS) helps sponsors fix retirement plan errors, maintain tax-favored status, and comply with IRS SECURE 2.0 updates.

Misclassifying even a small portion of your workforce can create numerous tax and other risks for employers, including with respect to employee benefit plans. Sherrie Boutwell will be presenting on a panel for BARBRI regarding how misclassification of employees as independent contractors can adversely affect employee benefit plans, including tips for mitigating these risks. Hope you can join us!

As employer-sponsored health and welfare plans grow more complex, transparency rules abound, new health and welfare plan fee disclosure rules take effect, and class action lawsuits increase (see our recent blog posts regarding voluntary benefits litigation and tobacco cessation program litigation), the need for structured oversight becomes critical. While ERISA doesn’t mandate fiduciary committees for these plans, forming one may be a smart move for plan sponsors.

Last month, the Treasury Department and IRS (the “Agencies”) released Announcement 2026-7, stating that they anticipate future regulations finalizing certain portions of the 2024 proposed regulations governing required minimum distributions under Code Section 401(a)(9) (“RMDs”) to take effect no earlier than 2027. Before this announcement, these regulations were anticipated to take effect in the 2026 distribution calendar year.

Plan administrators of qualified plans, 403(b) plans, and governmental 457(b) plans are required under Internal Revenue Code (IRC) §402(f) to provide a written explanation regarding eligible rollover distributions (sometimes called a “special tax notice”) to participants 30-180 days before making an eligible rollover distribution. The IRS issued Notice 2026-13 on January 15, 2026 to update the information required to be in the special tax notice for recent law changes, inclu

Buried in the new federal law governing Pharmacy Benefit Managers, (which is generally effective beginning in 2028) is a broad expansion of the group of “covered service providers” who are required to provide written fee disclosures to health plan fiduciaries and a mandate that health plan fiduciaries collect such disclosures. Although the effective date of the new provision is not clear, it could be effective as early as the date the new law went into effect— February 3, 20

Join Sherrie Boutwell and Evan Giller of Boutwell Fay, LLP as they discuss "How to Fix Your Retirement Plan When Something Breaks” at the 2026 NBOA Annual Meeting & Business Solutions Showcase in Orlando, FL. Where: 2026 NBOA Annual Meeting & Business Solutions Showcase. When: March 3rd, 2:30-4 PM EST. Topics: IRS & DOL correction programs to fix retirement plan errors. What can be corrected without involving any agencies? Tips and practical techniques from experienced inside

On December 23, 2025, four class action lawsuits were filed in the Northern District of Illinois and the Southern District of New York. These suits allege employers who sponsored voluntary employee benefits plans, and their insurance brokers, violated the Employee Retirement Income Security Act of 1974 (“ERISA”). This article explores the allegations in these complaints and offers suggestions as to what employers can do to avoid—or at least be best positioned to defend—simi

We are pleased to share that Evan Giller of Boutwell Fay, LLP, will be on the Practitioner's Panel at the 2026 TE/GE Joint Council Meeting in Washington, DC. The panel will discuss current, practical issues and suggested solutions to inform EBSA and provide feedback on February 26, from 9:50-10:50 am EST. Event Dates: February 25-27 Location: 975 F Street, NW Washington, DC 20004 & Virtual Option 2026 TE/GE Joint Council Meeting information & registration:

Some GLP-1s, like Ozempic, are injectable drugs approved by the U.S. Food and Drug Administration (“FDA”) to help adults with type 2 diabetes manage blood sugar levels. The FDA has approved other GLP-1s for weight management, with Wegovy becoming the first FDA approved daily pill in December 2025. As the popularity and accessibility of GLP-1s for weight loss has grown dramatically over recent years, employers continue to grapple with questions related to their cost and covera

Tobacco cessation program litigation is a hot topic with more than a dozen cases currently pending in federal courts. To date, the total settlements reached in tobacco program cessation cases exceed $10 million. As this area of law continues to develop and avoid costly litigation, it’s worth reviewing your plan’s surcharges related to tobacco use and its related tobacco cessation programs.Sherrie Boutwell and Allison Martinez’s article, Does Your Wellness Program Need a Toba

The U.S. Department of Labor announced important updates to its Delinquent Filer Voluntary Compliance (DFVCP) Program, which for the first time now offers relief to Form M-1 filers such as Multiple Employer Welfare Arrangements (MEWAs”)

We are pleased to welcome Jeffrey Penn as the newest attorney to join Boutwell Fay LLP!

Attendees will learn the basics about different types of M&A transactions and their impact on employee benefits, key issues to look out for and potential pitfalls to avoid.

The Internal Revenue Service (“IRS”) recently released the final 2025 Instructions for Forms 1094-C and 1095-C (“2025 Instructions”). Though self-insured employers and applicable large employers have been required to file these forms with the IRS—and furnish copies of forms to their employees—for over a decade, we regularly assist employers who have questions about (or have received proposed penalty notices related to) these forms.

This week the IRS finalized and announced retirement plan and related limits for 2026. Many categories were increased, but the annual the elective deferral limit for 401(k) and 403(b) plans and the compensation used to determine Highly Compensated Employee status remained the same. Notably, the IRS unexpectedly increased the FICA wage threshold for Roth catch-up contributions from $145,000 to $150,000 for catch-up contributions made in 2026.

As we approach the new year, it’s time to review the updated contribution and limit amounts for 2026. The IRS has announced increases across several key areas, including HSAs, FSAs, and other employee benefit accounts.

Nonprofit organizations often look for ways to attract and retain key executives through deferred compensation arrangements. Three common approaches are the 457(b) plan, 457(f) plan, and split-dollar life insurance plan. Each can supplement retirement benefits, but they differ in eligibility, funding, and tax treatment.

The Mental Health Parity and Addiction Equity Act (MHPAEA) was enacted in 2008 and generally prevents most group health plans that provide mental health and substance use disorder (MH/SUD) benefits from imposing more restrictive coverage limitations on those benefits than on medical/surgical (M/S) benefits.

As we head into the last quarter of the year, plan sponsors should be mindful of the upcoming SECURE 2.0 Act deadline for mandatory Roth catch-up contributions, effective January 1, 2026. The SECURE 2.0 Act was passed on December 23, 2022, so its amendment of Internal Revenue Code Section 414(v) to require mandatory Roth catch-up contributions isn’t new news.

Section 1557 of the Affordable Care Act (“ACA”) provides individuals shall not be subject to discrimination on the basis of sex under a health program or activity that receives federal financial assistance or is administered by an Executive Agency. (42 USC 18116(a)). As discussed in our blog post regarding United States v. Skrmetti, the contours of Section 1557’s prohibition of discrimination on the basis of sex remain a hotly litigated issue.

Join Boutwell Fay LLP as we will walk through common Form 5500 errors, what happens if you don’t make a filing deadline and how to avoid (or, if needed, appeal) Form 5500 late filing penalties.

We are proud to share that The Best Lawyers in America® has recognized two of our partners in its 2026 Edition.

As we’ve advised, the times are changing when it comes to what participants’ retirement plan investment options. On Thursday, August 7, 2025, the president signed an executive order to allow 401(k) participants to join institutional investors and non-ERISA retirement plans in investing in alternative investments like private equity, cryptocurrency, and real estate. The order is aimed to place ERISA regulated 401(k) and defined contribution plan participants on an equal play

In her recent Daily Journal article "Strategic Connections Can Power Practice Growth," Sherrie Boutwell, partner at women-owned ERISA firm Boutwell Fay LLP, highlights collaboration as a key growth strategy for niche law firms.

The One Big Beautiful Bill Act (“Bill”) did not extend the enhanced premium tax credits (“PTCs”) which help make health insurance purchased through the marketplace (e.g., Covered California) more affordable for millions of Americans. The Affordable Care Act’s employer shared responsibility penalties are only imposed in situations where a full-time employee receives a PTC or cost-sharing reduction.

Each employer that sponsors a 403(b) plan which uses a pre-approved plan document must ensure that document is restated to account for changes in law by December 31, 2026. Especially because organizations in the nonprofit and public sectors often face resource and staffing constraints, it’s crucial they start the restatement process now.

Following up on our prior post on private equity investments in 401(k) plans, the Ninth Circuit Court of Appeals has now dismissed a six-year-long lawsuit brought by Intel employees against the company. The lawsuit centered on Intel’s inclusion of private equity and hedge funds in its 401(k) defined contribution plans, alleged that offering these investment options violated fiduciary duties under the Employee Retirement Income Security Act (ERISA).

On June 18, 2025, the majority of the United States Supreme Court held Tennessee’s law prohibiting access to gender-affirming care for certain minors was permissible under rational basis review. The Tennessee law at issue, SB1, forbids healthcare providers from providing puberty blockers or hormones to minors.

Holiday Reminder: Please note that our office will be fully closed on Friday, July 4th.

In the five months since the Trump Administration took the reins in Washington, DC, we have seen a flurry of changes affecting employee benefit plans: both retirement plans and health and welfare plans. In this post, we focus on a few of the recent retirement plan changes relating to plan investments.

We are proud to announce that Boutwell Fay LLP has been recognized in the 2025 California Edition of Best Law Firms®, ranked by Best Lawyers®.

Starting Friday, June 6th, and continuing through Friday, August 29th, our office will have adjusted hours. Early Closure: Our office will close at 3:00 PM (PST) every Friday during this period, giving our staff a head start on their summer weekends. Holiday Reminder: Please note that our office will be fully closed on Friday, July 4th.