In our last post, we looked briefly at some general points of law under the Employee Retirement Income Security Act of 1974 (ERISA): first, that 401(k) plan fiduciaries can be held liable for mismanaging retirement plans; and second, that federal law exempts 401(k) plan trustees from liability for the acts and omissions of investment managers appointed by plan fiduciaries.
ERISA and the fiduciary duty to monitor appointed investment advisers, P.1
For employers, one important aspect of doing business is ensuring the business is in compliance with the requirements of the Employee Retirement Income Security Act of 1974 (ERISA), the federal law which lays out the rules and regulations for setting up and administering employee health and retirement plans. Of particular importance under ERISA are the fiduciary duties associated with management of retirement plan investments.
Three points to understand about assignment of no-fault benefits in Michigan
In our previous post, we looked at a recent Michigan Supreme Court decision holding that hospitals, clinics and other medical providers do not have the right to sue insurance companies for payment of bills of patients using no-fault insurance. As we noted, the decision could have a number of potential effects, including an increase in the assignment of no-fault benefits to providers.
