Addressing what they call the four major “crises” facing the nation—COVID-19, the economy, climate, and inequity—US President Joseph Biden and Vice President Kamala Harris have consistently framed many of their most important executive actions and policy proposals as attempts to prioritize one or more of these four policy concerns. Read our LawFlash for a recap of some of the more wide-reaching and impactful (or in some cases, potentially impactful) executive orders, legislative actions, policy proposals, and other developments during the first 100 days of the Biden-Harris administration.
ML BeneBits
EXAMINING A RANGE OF EMPLOYEE BENEFITS
AND EXECUTIVE COMPENSATION ISSUES
AND EXECUTIVE COMPENSATION ISSUES
The US Department of Labor (DOL) issued three long-awaited pieces of subregulatory guidance on April 14, addressing the cybersecurity practices of retirement plan sponsors, service providers, and plan participants, respectively. The guidance provides an important window into the DOL’s expectations of what ERISA’s prudence standards require with respect to cybersecurity matters.
As we described in our March 15, 2021 LawFlash, the American Rescue Plan Act of 2021 (ARPA) includes a 100% COBRA premium subsidy for any employee or dependent who is a COBRA qualified beneficiary (or will become one) resulting from an involuntary termination of employment or a reduction of hours (referred to as an Eligible Individual).