Vorys 2024 Benefits Conferences

This session will provide an overview of recent data breach statistics and trends, outline best practices for responding to a data breach, address cybersecurity considerations for benefit plans, and cover data breach notification laws and regulations that could apply in the event of a cybersecurity incident.

This session delves into the critical aspects of Section 409A, a pivotal law governing nonqualified deferred compensation plans. Attendees will gain an understanding of the fundamental principles of Section 409A, including its scope, key requirements, and the potential tax implications for non-compliance. The session will explore practical scenarios to illustrate when and why Section 409A matters. By the end of the presentation, participants will be equipped with the knowledge to navigate the complexities of deferred compensation arrangements, ensuring compliance and mitigating risks.

This session will provide an overview of fiduciary duties and prohibited transactions that apply to ERISA plans (retirement and health and welfare plans). We will also address best practices and provide practical steps that fiduciaries can take to protect benefit plans and themselves from liability.  

We will explore recent litigation impacting employee benefit plans and the legal implications for plan sponsors, administrators, and participants.  Attendees will gain insight into how these rulings may influence plan design, compliance, and fiduciary responsibilities under ERISA.

Even the most careful employer sometimes discovers mistakes related to its retirement plan. This is especially true considering the interplay of statutory and regulatory requirements, complex payroll and computer systems, and sometimes simple human error. In this session, we will provide an overview of the Internal Revenue Service and Department of Labor programs for correcting retirement plan errors. We will also provide examples of how to fix certain common mistakes under Secure 2.0 and current IRS and DOL guidance.

This session will highlight the fiduciary duties that apply to all ERISA plans, including welfare benefit plans. We will also discuss recent litigation involving welfare plans, including a case where the plaintiff alleges that the plan fiduciaries violated ERISA by negotiating a bad deal for prescription drug benefits. We will conclude by discussing prudent steps fiduciaries can take to document their processes and protect themselves in the future.

In this presentation, we will discuss (1) the substantiation requirements for medical care expenses paid with a debit card; (2) auto-substantiation of claims; and (3) record retention requirements.

This session will provide an overview of the complex rules governing executive compensation including the requirements for compensation to avoid tax penalties under Internal Revenue Code Section 409A, changes to the enforceability of non-compete provisions, trends for clawback policies, and other things to consider when designing executive compensation programs.