Wednesday, July 24, 2024

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Are ERISA benefits back in fashion for captives?


  • “Several” captive applications in to the Department of Labor
  • Applicants undeterred by expected lead time and administration, but cost-effectiveness questioned
  • Uncertainty whether the expedited process (ExPro) may return
  • Further changes to exemption process have been touted by the DoL

After a gap of four and a half years between successful captive exemption applications to the Department of Labor (DoL), the 2022 achievements of Phillips 66 and Comcast is laying the path for further employee benefits activity in the United States.

Bursting the flood gates is too strong a term to describe the increase of interest in a notoriously admin-heavy process, but consultants and (some) clients are bullish about their desire to reinsure employee benefits under the United States’ Employee Retirement Income Security Act (ERISA) into their captive.

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