In Case You Missed It: Spotlight on Benefits – Winter 2024

Written by members of Faegre Drinker’s benefits and executive compensation team, this blog features analysis and information on matters related to retirement plans, health and welfare plans, ESOPs, ERISA litigation, fiduciary governance, and other benefits issues.

This quarterly digest provides links to our most popular posts during the past few months so that you can catch up on what you missed or re-read them.

IRS Announces 2024 Retirement Plan Limits

By Sarah Bassler Millar, Mark Rosenfeld, Dawn Sellstrom and Inés Sosa
The IRS recently announced the 2024 cost-of-living adjustments to various benefit and contribution limits applicable to retirement plans. The IRS modestly increased the applicable limits for 2024.

Introducing ERISA Moments: Bite-Size Vodcasts on the Latest ERISA Developments

By Fred Reish and Bradford Campbell
Take a quick dive into the exciting world of ERISA with Faegre Drinker benefits and executive compensation attorneys Fred Reish and Brad Campbell. In this quick-hit series of updates, Fred and Brad offer a high-level view of current trends and recent ERISA developments.

When One Door Closes, Another Opens…Maybe Fourth Circuit Holds that Surcharge Is Not Equitable Relief Available Under ERISA but Paves the way for Unjust Enrichment Claims

By Rick Pearl
In an ERISA case for wrongful denial of health insurance benefits, the U.S. Court of Appeals for the Fourth Circuit addressed when a plaintiff may recover monetary relief under §§ 502(a)(1)(B) and (a)(3). The Fourth Circuit unsurprisingly held that ERISA § 502(a)(1)(B) limits recovery to benefits due under the terms of a plan, and a plaintiff cannot recover the cost of a denied surgery because the cost is not a “benefit” due; coverage for the cost, and payment to the provider, is the benefit. Unless a plaintiff pays the bill first, the plaintiff cannot recover the cost from an insurer.

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