The Genie is Out of the Bottle. Will Loper Bright Result in Uncertainty for Plan Sponsors?

The U.S. Supreme Court, in overruling its prior Chevron decision, seems to allow lower courts to independently evaluate statutory text. Many regulations, promulgated by agencies like the IRS and the DOL, have previously been upheld using the deferential framework of Chevron. What if their regulations are challenged in courts under this new framework? Will court decisions have national application or might plan sponsors have to comply with a patchwork of different statutory interpretations depending on a particular court's jurisdiction?

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• Employee Benefits & Executive Compensation Key Legal Developments Tracker (Current)
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• Retirement Plans. IRS and Treasury issue final regulations under I.R.C. § 401(a)(9) which, among other things, implement changes under the Setting Every Community Up for Retirement Enhancement (SECURE) Act (Division O of the Further Consolidated Appropriations Act, 2020, Pub. L. No. 116-94) and the SECURE 2.0 Act (Division T of the Consolidated Appropriations Act, 2023, Pub. L. No. 117-328). 89 Fed. Reg. 58,886 (July 19, 2024).
• Retirement Plans. IRS and Treasury issue proposed regulations that would address various provisions that were reserved in the 2024 final regulations. 89 Fed. Reg. 58,644 (July 19, 2024).
• Retirement Plans. Department of Labor announces that its Employee Benefits Security Administration divisionhas launched an online system to help qualified termination administrators more efficiently submit information required by the department’s Abandoned Plan Program. DOL News Release (July 19, 2024). 
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