Fiduciary Duties of Employers with Employee Health Plans
Verrill's Chris Lockman will be presenting at the Maine Employee Benefits Council's July 22nd webinar, Fiduciary Duties of Employers with Employee Health Plans.
The Employee Retirement Income Security Act of 1974 (ERISA) established the Fiduciary framework for Employers overseeing Employee Benefits Plans. There has been a wave of ERISA litigation in recent years focused primarily on Employer-Sponsored Retirement Plans.
However, the recent J&J lawsuit could be the bellweather for a shift in focus from Retirement Plans to Health & Welfare Plans. The lawsuit has triggered a number of questions for Employers. What are the fiduciary duties of employers to their employees’ health and welfare plans? What can employers do to establish fiduciary best practices? What is their potential legal exposure?
