This episode of the ShiftShapers Podcast features a discussion with David Mordo, Senior Compliance Officer at MZQ Consulting, focusing on essential legislative and regulatory knowledge advisors need to possess, especially pertaining to offering health benefit packages. The conversation highlights the recent FTC ruling on non-compete clauses, emphasizing its potential impact on employers and the broader implications for your workplace. Mordo and our host David Saltzman also delve into a pressing lawsuit against Johnson & Johnson related to fiduciary duties and prescription drug pricing, forecasting a rise in similar legal challenges. Furthermore, the interview underscores the importance of advisors understanding their role in ensuring employer clients comply with fiduciary responsibilities, especially in relation to employee health plans and benefits to meet complex compliance regulations.

Key Takeaways from the episode of the ShiftShapers Podcast:

• The Federal Trade Commission banned non-compete clauses, aiming to boost employee wages and opportunities.
• Lawsuits over fiduciary responsibilities in benefit plans are increasing, underscoring the importance of acting in employees' best interests.
• Advisors are pivotal in educating employers on fiduciary duties and compliance to navigate benefit complexities.
• Compliance professionals help translate regulations for brokers and employers to ensure adherence to regulations and to avoid risks.
• Fiduciary care under ERISA is crucial for all employers to comply with regulations and protect employees.

https://www.mzqconsulting.com/

This episode is sponsored by Benepower, the platform of choice for a modern benefits experience. Benepower is an AI-powered benefits platform offering access to top products and services, enabling consultants and employers to create customized plans, optimize usage, and measure effectiveness. www.benepower.com