Source: http://www.nutter.com/executive-comp-exchange/attention-plan-sponsors-the-cost-of-non-compliance-just-went-up
Timestamp: 2017-11-20 00:24:01
Document Index: 196409098

Matched Legal Cases: ['§ 502', '§ 101', '§ 101', '§ 502', '§ 701', '§ 502', '§ 701', '§ 502', '§ 702', '§ 701', '§ 702', '§ 502', '§ 502', '§ 715', '§ 2715', '§ 715']

Attention Plan Sponsors: The Cost of Non-Compliance Just Went Up: Executive Comp Exchange
ERISA § 502(c)(7) Failure to furnish a blackout notice under section ERISA § 101(i) or notice of the right to divest employer securities under ERISA § 101(m) Up to $100 per day Up to $131 per day
ERISA § 502(c)(9)(A) Failure by an employer to inform employees of CHIP coverage opportunities under ERISA § 701(f)(3)(B)(i)(I) — each employee a separate violation. Up to $100 per day Up to $110 per day
ERISA § 502(c)(9)(B) Failure by a plan administrator to timely provide to any State the information required to be disclosed under ERISA § 701(f)(3)(B)(ii), regarding coverage coordination — each participant/beneficiary a separate violation. Up to $100 per day Up to $110 per day
ERISA § 502(c)(10) (B)(i) Failure by any plan sponsor of a group health plan, or any health insurance issuer offering health insurance coverage in connection with the plan, to meet the requirements of ERISA §§ 702(a)(1)(F), (b)(3), (c) or (d); or § 701; or § 702(b)(1) with respect to genetic information. $100 per day during non- compliance period $110 per day during non-compliance period
ERISA § 502(c)(10) (C)(ii) Minimum penalty for failures to meet genetic information requirements which are not corrected prior to notice from Secretary of Labor and are not de minimis. $15,000 minimum $16,473 minimum
ERISA § 502(c)(10)(D) (iii)(11). Cap on unintentional failures to meet genetic information requirements. $500,000 maximum $549,095 maximum
ERISA § 715 Failure to provide Summary of Benefits Coverage under Public Health Services Act § 2715(f), as incorporated into ERISA section § 715 and 29 CFR 2590.715-2715(e). Up to $1,000 per failure Up to $1,087 per failure