This Just In! How a Trump Administration Could Impact Employee Benefits

The back-and-forth in political ideologies is evident when reviewing the last decade of employee benefits-related guidance and the ping-pong of regulatory guidance is likely to continue. The environmental, social, and governance (ESG) rule, the fiduciary rule and its related PTEs, preventive care for pregnancy-termination, and transgender care, are each expected to be impacted.

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Related Content

• Federal Courts Stay the DOL's New Retirement Security Rule Video
  Review the state of the expanded fiduciary rule, as published in April 2024. Lawsuits have sought to "vacate" or overturn the rule and related exemptions as being beyond the authority of the DOL. This may last until new proposed regulations (likely modeled on the first Trump administration’s proposed and then final regs) are issued.
• ERISA Fiduciary Duties
  See how, as ESG-aware investing has grown in prominence over the last two decades, the DOL had issued various regulations and guidance on the topic. In 2020, the Trump administration proposed new regulations governing ERISA fiduciaries' prudent exercise of investment discretion that focused on restricting the use of ESG factors in investment decisions. The Biden DOL permitted a fiduciary, as part of the fiduciary’s prudent evaluation of a potential investment, to evaluate the economic effects of climate change and other ESG factors. Likely—no longer. 
• ACA Nondiscrimination Rules for Health Programs and Activities (ACA Section 1557)
  Reference how guidance regarding discrimination in providing medical services and supplies, under the Biden Administration, addresses certain pregnancy and transgender issues. A final rule clarifies that discrimination based on sexual orientation or gender identity is prohibited.  The rule also prohibits discrimination based on conditions related to pregnancy, including the termination of a pregnancy. These provisions of Section 1557 are currently stayed from being in effect in Texas and Montana.  

Practical Guidance Updates 
Featuring the latest updates from your Practical Guidance account.      

• Employee Benefits & Executive Compensation Key Legal Developments Tracker (Current)
  Stay informed on new developments.
  • Retirement Plans. IRS releases 2025 cost-of-living adjustments to retirement plan limits and thresholds. The maximum employee salary deferral to a 401(k), 403(b), and most 457 plans increases by $500 in 2025, to $23,500 from $23,000 in 2024, while the catch-up contribution, for eligible employees age 50 and older, remains at $7,500. New SECURE 2.0 Act provisions, like Starter 401(k)'s and age 60-63 increased catch-ups are available. R.S. Notice 2024-80.
  • Retirement Plans. S. Government Accountability Office (GAO) issues Reported Impacts of Fee Disclosure Regulations, and DOL Efforts to Support Implementation of Regulations.
  • Health and Welfare Plans. IRS, Treasury, DOL, EBSA, HHS, and CMS propose regulations that would provide that medical management techniques used by non-grandfathered group health plans and health insurance issuers offering preventive services would not be considered reasonable unless the plan or issuer provides an easily accessible, transparent, and sufficiently expedient exceptions process to allow an individual to receive coverage without cost sharing for medically necessary preventive services for the individual, as determined by the individual’s attending provider, even if such service is not generally covered under the plan or coverage. 89 Fed. Reg. 85070 (Oct. 25, 2024).
  • Health and Welfare Plans. DOL issues Artificial Intelligence and Worker Well-Being: Principles and Best Practices for Developers and Employers (Oct. 16, 2024)
• Stay informed on SECURE 2.0 Act developments by using our SECURE 2.0 Act Guidance Tracker.
• Document alerts allow you to stay current on legal developments that affect your practice. Find out how to set up your document alerts.
• For Practical Guidance content on important recent trends, review easy-to-use Resource Kits on these emerging topics:
  • Chevron Reversal Impact Resource Kit
  • Environmental, Social, and Governance (ESG) Resource Kit
  • Environmental Protection Resource Kit
  • Public Interest, Pro Bono, and Non-Profit Resource Kit

• Generative Artificial Intelligence (AI) Resource Kit is a frequently updated collection of current Practical Guidance materials on generative AI, ChatGPT, and similar tools.
• The Fall 2024 Edition of The Practical Guidance Journal features guidance on the use of AI in employment decisions, AI considerations in acquisition agreements, Chevron deference reversal challenges in FDA rulemaking, 50 years of ERISA pension protection, plus obligations and risks related to the provision of anti-overdose medication in the workplace.
• Discover New Practical Guidance Content and Resources
  Review this informative guide featuring some of the recent content additions to Practical Guidance, designed to help you find the tools and insights you need to work more efficiently and effectively.
• Browse the Practical Guidance Author Center to see the 2000+ leading attorney authors contributing to our 26 practice areas. Interested in becoming a Practical Guidance author? Click here for details. Practical Guidance is committed to amplifying diverse voices of attorneys across all differences, including gender and race.
• Legal Developments provide the latest updates and analyses of emerging topics impacting your practice area. Visit the Legal Developments page to see the latest topics, which also include breaking legal news and related Practical Guidance content. 

• New and Updated Practical Guidance Content
  • Required and Discretionary Amendments to Qualified Retirement Plans and Section 403(b) Plans
  • Qualified Retirement Plan Cybersecurity Training Presentation
  • Major Legislative Amendments to ERISA and the Internal Revenue Code Affecting Qualified Retirement Plans
  • Mental Health Parity and Addiction Equity Act Compliance for Employer Health Plans
  • HIPAA Attestation for Reproductive Health Care Related PHI Disclosures
  • Federal Agencies Release Final MHPAEA Regulations: Navigating the Key Changes
  • A Growing Trend: Fiduciary Secures Trial Victory in Excessive Fee Litigation
  • COBRA for the Health FSA
  • The Supreme Court's Double Hammer to Agencies: Loper Bright and Corner Post Set New Precedents for Challenging Federal Agency Action

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