Compliance May 22, 2025

Senate Bill Supports Retirement Plan Reenrollment

Senators introduced legislation that would allow periodic automatic reenrollment in workplace retirement plans for workers who opt out of participating.

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Two senators introduced legislation Wednesday that would offer workers more opportunities to be included in employer-sponsored retirement plans and benefit from the maximum match offered by their employers.

Under current law, employees who opt out of automatic retirement contributions remain unenrolled unless they eventually choose to opt in. The proposed legislation, the Auto Reenroll Act of 2025, would change that by permitting plan sponsors to automatically reenroll employees every one to three years. Employees who are automatically re-enrolled may, once again, opt out of the plan after being reenrolled.

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The bill was introduced by Senator Bill Cassidy, R-Louisiana, chair of the Senate Committee on Health, Education, Labor and Pensions, and Senator Tim Kaine, D-Virginia, a member of the committee.

“For many Americans, employer-sponsored retirement plans become a crucial part of their long-term financial security,” Kaine said in a statement. “That’s why it’s important that we make it easier for more workers to take full advantage of these opportunities.”

According to the senators, the bill would help reduce the number of American workers who are not enrolled in employer-sponsored retirement plans and those failing to maximize their employer’s contribution.

The senators also argue that auto-reenrollment would assist in reducing the number of workers who are confused about their retirement plan participation.

“Americans should have every opportunity to invest for a secure retirement,” Cassidy said in a statement. “Auto-reenrollment enables workers to be in better control of their finances so they can be ready for retirement.”

Chris Spence, head of federal government relations and public policy at TIAA, said the bill would specifically improve retirement outcomes for workers in lower income brackets.

“The Auto Reenroll Act takes a voluntary approach to simplify and automate retirement savings by spurring more employers to reengage employees—especially younger and lower-income workers who may have previously opted out—to re-enroll in their workplace,” Spence said in a statement.

Products May 21, 2025

Aon Introduces Health Pricing Tool Amid Rising Costs, Heightened Fiduciary Risks

The product offers insights from public health care pricing data to assist plan sponsors with managing rising costs and reducing fiduciary risks.

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Aon PLC, a professional services firm that offers risk mitigation solutions, launched a product that provides plan sponsors with information from publicly available health care pricing data to help them manage costs and reduce fiduciary risks.

The Health Price Transparency Analysis tool taps into available data on negotiated prices between insurers and providers. The offering aims to enable employers to compare the data for a clearer picture of how the fees they are paying for health-related services compare to the universe of public data.

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According to Aon, the tool allows for more seamless price comparisons by benchmarking negotiated rates across carrier networks representing 5,000 hospitals and more than 600 health systems. Employers can use the information to compare rates, assess network performance and spot discrepancies in what different providers charge for the same services.

The launch comes amid growing pressure on employers to manage their health care spending. According to Aon’s 2025 U.S. health survey, employers expect health care costs to rise 9.2% next year, up from an 8% increase in 2024. Under the Consolidated Appropriations Act of 2021, plan sponsors must attest that health care plan fees are fair and reasonable. 

“As employee expectations rise and healthcare costs continue to escalate, Aon’s Health Price Transparency Analysis equips employers with the data and analysis needed to make high-impact decisions,” said Farheen Dam, Aon’s head of health solutions for North America, in a statement. “By turning overwhelming volumes of pricing data into a clear view of market dynamics and provider value, this analysis helps plan sponsors protect their organizations, optimize network performance and manage health plan spend with greater precision.”

Recent Compliance Risk

Meanwhile, concern has also increased about fiduciary risks related to health care pricing.

In March, current and former participants in the JPMorganChase health insurance plan for employees sued J.P. Morgan Chase & Co. and affiliates for allegedly breaching their fiduciary duties under the Employee Retirement Income Security Act by mismanaging its prescription drug benefit under its health insurance plan.

That lawsuit followed the FTC releasing its first interim report in July 2024 and, a few months later, filing an administrative lawsuit against the “big three” pharmacy benefit managers—Caremark Rx, Express Scripts and Optum Rx—and their affiliated group purchasing organizations.

In April, President Donald Trump signed an executive order on Wednesday, which includes measures to improve transparency into pharmacy benefit manager fee disclosures. 

Shortly after the FTC’s interim report, former Wells Fargo employees filed a lawsuit against Wells Fargo & Co., claiming the company mismanaged its health plan by allegedly causing employees to overpay for prescription drugs. In March, the case was dismissed by a U.S. district judge in Minnesota.

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