Legislative and Regulatory News for the Week of February 1

Employee Benefits

Both the House and Senate versions of the 2009 Stimulus Bill include sweeping revisions to ERISA’s COBRA provisions.

The Department of Labor’s Employee Benefits Security Administration (EBSA) has issued a notice proposing the extension of the effective and applicability dates of final regulation on investment advice provided to participants and beneficiaries of 401(k) plans and IRAs.

The State Children’s Health Insurance Program Reauthorization Act of 2009, signed into law on February 4, includes provisions amending ERISA.

Labor/Management Relations

President Obama issued a series of executive orders aimed at federal contractors.  These orders significantly broaden the Labor Secretary’s enforcement powers. Litter has published an in-depth analysis of these executive orders.

President Obama and Vice President Biden seem to disagree on EFCA’s timeline. Meanwhile, union members continue to lobby Congress for the passage of the Employee Free Choice Act (EFCA).
 

Information contained in this publication is intended for informational purposes only and does not constitute legal advice or opinion, nor is it a substitute for the professional judgment of an attorney.