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Benefits & Executive Compensation News

AT&T Faces Second Lawsuit Over Pension Plan Risk Transfer

AT&T Inc. was sued for the second time in a week by retirees who say it wrongly shifted responsibility for funding the pensions of 96,000 workers to a “highly risky” insurance company owned by private equity.

Target Worker Drops Benefits Bid for George Floyd Protest Trauma

A Target Corp. district manager dropped his lawsuit against Life Insurance Co. of North America seeking disability benefits for post-traumatic stress disorder after working at a Minneapolis store while it was looted and burned during protests of George Floyd’s murder.

United of Omaha Beats Benefits Suit Over Pizza Cook’s Long Covid

A former pizza cook at Arkansas’ Hendrix College lost his lawsuit seeking long-term disability benefits from United of Omaha Life Insurance Co. on account of ailments he says stem from his 2020 infection with Covid-19.

John Muir Health Sued Over Retirement Plan Fees, Forfeiture Use

Hospital system John Muir Health was hit with a proposed class action challenging the administrative fees and investment options in the $1 billion retirement plan covering its workforce.

Teamsters Fund Must Repay Millions in Bailout Cash, DOL Says

The Central States Pension Plan needs to return $127 million in extra bailout cash it received due to improper counting of dead participants and will not face negative legal outcomes for doing so, the US Department of Labor said Thursday.

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US Lawmakers Reach Deal to Keep Government Open Through Sept. 30

Congressional leaders and the White House reached a handshake deal to fund the US government through Sept. 30, according to people familiar with the negotiations, after six months of bitter ideological clashes delayed finishing an annual spending plan.

Biden Signs Executive Order to Boost Women’s Health Research

The Biden administration is rolling out an executive order to strengthen women’s health research standards across federal agencies and prioritize its funding in an effort to close the gap on long-standing disparities. Part of the order instructs certain agencies to research ways to use artificial intelligence toward advancing women’s health research.

Target Worker Drops Benefits Bid for George Floyd Protest Trauma

A Target Corp. district manager dropped his lawsuit against Life Insurance Co. of North America seeking disability benefits for post-traumatic stress disorder after working at a Minneapolis store while it was looted and burned during protests of George Floyd’s murder.

Punching In: Senators Weigh Whether AI Can Shorten the Workweek

HELP Committee Chair Sen. Bernie Sanders (I-Vt.) held a hearing last week on whether technology can finally help the workforce realize a 32-hour workweek. Meanwhile, the DOL’s Wage and Hour Division continues to lose investigators, potentially undercutting its enforcement efforts.

Starbucks Holders Approve Pay Plan That Drops DEI Reference

<-bsp-bb-link state="{"bbHref":"bbg://securities/SBUX%20US%20Equity/BQ","_id":"0000018e-4868-d509-adee-49f91e5f0000","_type":"0000016b-944a-dc2b-ab6b-d57ba1cc0000"}">Starbucks Corp. shareholders approved a plan to drop a bonus tied to DEI goals for its executives and replace it with a more general workforce target while also shifting more compensation to financial performance.

IN BRIEF

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Case: Health Care & Benefits/Long-Term Disability Benefits (S.D.N.Y.)

The court granted The Hartford Life Insurance Co.'s motion for summary judgment on a Center for Discovery employee’s ERISA action challenging The Hartford’s refusal to pay her long-term disability benefits related to side effects of medication prescribed following smoke inhalation.
Johnson v. The Hartford, 2024 BL 81714, S.D.N.Y., 22-CV-06394 (PMH), 3/12/24

Case: Health Care & Benefits/Reimbursement (D. Conn.)

The court granted Yale University and Yale Health Plan’s motion to dismiss Murphy Medical Associates LLC and Diagnostic and Medical Specialists of Greenwich LLC’s ERISA action seeking reimbursement for COVID-19 testing, due to lack of standing. Murphy Med. Assocs. LLC v. Yale Univ., 2024 BL 76311, D. Conn., 3:22-cv-33 (KAD), 3/7/24

Case: Health Care & Benefits/Preemption (D.S.C.)

The court denied AmWINS LLC and others’ motion to dismiss First Reliance Bank’s ERISA action for breach of contract, bad faith denial of insurance claims, tortious interference, civil conspiracy, benefits and attorneys’ fees, and breach of fiduciary duty. First Reliance Bank v. AmWINS LLC, 2024 BL 72978, D.S.C., 3:22-2674-MGL, 3/5/24

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