Andrew L. Oringer

Andrew L. Oringer

Dechert LLP

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An Appreciation for Hedging Your Bets on Deferred Compensation

Under Section 457A of the U.S. Internal Revenue Code of 1986 (the “Code”), certain offshore and other entities are limited in their ability to provide tax-effective deferred compensation to providers of services to those...more

8/19/2014 - Deferred Compensation Equity Compensation Investment Funds IRC IRS Offshore Companies SAR Section 457A

Lawsuit Regarding Computer-Generated Advice to 401(k) Participants Revs Up Against Financial Engines

Last week, in a complaint dated August 8, 2014, plaintiffs commenced a lawsuit in the US District Court for the Eastern District of Texas against Financial Engines, Inc. and Financial Engines Advisors L.L.C. asserting a...more

8/12/2014 - 401k Financial Institutions Patent Infringement Patent Litigation Patents Popular Retirement Plan

Dudenhoeffer Eschews Moench Presumption But Encourages Careful Scrutiny Of Complaints: Future for ERISA Stock-Drop Litigation Is...

Certain retirement plans, such as employee stock ownership plans (“ESOPs”), are specifically designed to invest all or a portion of their assets in stock of the sponsoring employer. For nearly twenty years, the federal courts...more

7/1/2014 - ERISA ESOP Fiduciary Duty FIfth Third Bancorp v Dudenhoeffer Fifth Third Mortgage Company Moench Presumption SCOTUS Stock Drop Litigation US Bancorp

An Appreciation for Hedging Your Bets on Deferred Compensation: IRS Issues Revenue Ruling 2014-18 Under Section 457A of the...

Under Section 457A of the Internal Revenue Code of 1986 (the “Code”), certain offshore and other entities are limited in their ability to provide tax-effective deferred compensation to providers of services to those entities....more

6/13/2014 - Deferred Compensation Equity Compensation Executive Compensation Investment Funds IRC IRS Private Equity Funds SAR Section 457A Stock Options Tax Planning

Is There Quality to the Argument That Severance Payments Are Not Taxable "Wages"? – Supreme Court Holds That Severance Payments...

Earlier this week, on March 25, 2014, the U.S. Supreme Court handed down a highly publicized decision in the case of United States v. Quality Stores. In Quality Stores, the Court unanimously held that the severance payments...more

3/28/2014 - FICA Taxes Income Taxes Quality Stores SCOTUS Severance Agreements Wage and Hour

Let Their Summary Be Your Guide - U.S. Department of Labor Proposes Fee-Disclosure Guide Requirements Under ERISA

Section 408(b)(2) of the Employee Retirement Income Security Act of 1974 ("ERISA") provides an exemption from the “prohibited transaction” provisions of ERISA for certain compensation arrangements with employee benefit plans....more

3/26/2014 - Disclosure Requirements DOL ERISA Fees

U.S. Supreme Court to Review “Presumption of Prudence” that Favors Fiduciaries of ERISA Plans that Hold Employer Stock

The Supreme Court has agreed to hear the case of Fifth Third Bancorp v. Dudenhoeffer, in which the Sixth Circuit Court of Appeals, in response to a motion to dismiss, declined to adopt a presumption of prudence in favor of a...more

2/27/2014 - Employee Benefits ERISA Fiduciary Duty FIfth Third Bancorp v Dudenhoeffer SCOTUS Stocks

Maybe Not Such a Bad Actor – Department of Labor Clarifies Anti-Criminal Rule Under ERISA Rules

The U.S. Department of Labor (the “Department”) on November 1, 2013 issued Advisory Opinion 2013-05A (the “Opinion”) concerning the application of certain anti-criminal provisions under the Employee Retirement Income Security...more

11/11/2013 - Convictions DOL ERISA QPAM

IRS Liberalizes the "Use-It-or-Lose-It" Rule for Flexible Spending Accounts and Offers Other Transition Relief

In Notice 2013-71 (the “Notice”), the Internal Revenue Service (the “IRS”) has modified the so-called “use-it-or-lose-it” rule for health flexible spending accounts (“FSAs”) under cafeteria plans to allow participants to...more

11/7/2013 - Affordable Care Act Cafeteria Plans Flexible Spending Accounts Healthcare IRS

U.S. Office of Financial Research Issues Report on Asset Management and Financial Stability

The Office of Financial Research (“OFR”), an office of the U.S. Department of the Treasury, recently issued a report that may provide a roadmap for future designations by the Financial Stability Oversight Council (“FSOC”) of...more

10/8/2013 - Asset Management FSOC Office of Financial Research Risk Management SEC SIFIs

Still Tied Up In Knots - IRS and DOL Guidance on Same-Sex Marriage Following Supreme Court’s Windsor Decision

As we previously reported, in United States v. Windsor, 133 S. Ct. 2675 (2013), the U.S. Supreme Court held section 3 of the Defense of Marriage Act to be unconstitutional. Section 3 of the Defense of Marriage Act provides...more

9/27/2013 - DOL DOMA Employee Benefits ERISA FICA Taxes IRS Same-Sex Marriage SCOTUS US v Windsor

Is the First Circuit Egregiously Aggregating? Sun Capital Partners Case Holds That a Private Equity Fund Could Have ERISA...

The recent decision by the U.S. Court of Appeals for the First Circuit in the Sun Capital Partners case may be of concern to private equity funds and other investment funds that acquire or invest in portfolio companies with...more

8/8/2013 - ERISA Investment Funds Investment Portfolios PBGC Pensions Private Equity Funds Sun Capital Partners Withdrawal Liability

Reminder: PCORI Fee Due July 31 for Employers With Self-Insured Health Plans

As previously reported, the Patient Protection and Affordable Care Act (the “ACA”) established the Patient Centered Outcomes Research Institute (the “PCORI”) for the purpose of assisting patients, clinicians, purchasers and...more

7/31/2013 - Affordable Care Act Fees Form 720 Healthcare IRS PCORI

Is the Pendulum Swinging? – SEC Commissioner Gallagher Expresses Concerns About Reliance on Proxy Advisors

The role of proxy advisors has continued to attract attention from U.S. regulators and on Capitol Hill. Earlier this month, Commissioner Daniel M. Gallagher of the Securities and Exchange Commission (“SEC”) generated...more

7/24/2013 - Daniel Gallagher No-Action Letters Proxy Advisors SEC SEC Commissioner

Sharing the Wealth – Department of Labor Clarifies Treatment of Revenue Sharing Under ERISA

The U.S. Department of Labor (the “DOL”) recently issued Advisory Opinion 2013-03A (the “Opinion”), which addresses implications under the Employee Retirement Income Security Act of 1974 (“ERISA”) surrounding certain...more

7/15/2013 - 401k DOL ERISA Revenue Sharing

Supreme Court DOMA Decision Is Far-Reaching, but Leaves Many Unanswered Questions for Employers

On June 26, 2013, the United States Supreme Court held in United States v. Windsor, that Section 3 of the Defense of Marriage Act (“DOMA”) was “unconstitutional as a deprivation of the equal liberty of persons that is...more

7/10/2013 - Civil Unions DOMA Domestic Partnership Employee Benefits Employee Rights Employer Mandates Equal Protection ERISA Healthcare Marriage Qualified Retirement Plans Retirement Plan Same-Sex Marriage US v Windsor

Employer “Mandate” Under the Affordable Care Act Delayed Until 2015

The U.S. Treasury Department announced on July 2, 2013 that the employer shared-responsibility payments (commonly referred to as the “employer mandate” or the “employer penalties”) under the Patient Protection and Affordable...more

7/4/2013 - Affordable Care Act Delays Employer Mandates Pay or Play Shared Responsibility Rule Tax Penalties U.S. Treasury

Reminder: Exchange Requirements Governing Independence of Compensation Committee Advisers are in Effect as of July 1, 2013

As we previously reported, earlier in 2013 the Securities and Exchange Commission (the “SEC”) approved certain new listing requirements for the NYSE and NASDAQ effective July 1, 2013. The new listing requirements implement...more

7/2/2013 - Compensation Committee Compliance Dodd-Frank Nasdaq New Regulations NYSE Officers SEC Wall Street

Final HIPAA Regulations Impact Group Health Plans

The Health Insurance Portability and Accountability Act of 1996 (“HIPAA”) sets forth rules to protect the privacy and security of individuals’ health information that is held by “covered entities,” such as group health plans....more

5/30/2013 - Business Associates Data Breach Employer Group Health Plans Enforcement HHS HIPAA HITECH Marketing Penalties PHI Security and Privacy Controls Subcontractors

DOJ and SEC Scrutinize Potential Misuse of Rule 10b5-1 Trading Plans by Corporate Directors Affiliated with Investment Advisers

Over the past four years, the U.S. Department of Justice (“DOJ”) and U.S. Securities and Exchange Commission (“SEC”) have focused on insider trading involving private funds as one of their key targets in the fight against...more

5/10/2013 - DOJ Insider Trading Investigations Private Funds Rule 10b-5 SEC White Collar Crimes

401(k) Plans—Potential Commodity Pool Issues in the United States

Under the rules of the Commodity Futures Trading Commission (“CFTC”), certain collective investment vehicles and other entities that, directly or indirectly, invest in “commodity interests” may be “commodity pools” whose...more

2/28/2013 - 401k CFTC Commodity Pool CPO NFA Participant-Directed Plans Retirement Plan

Swapping Uncertainty for Clarity – U.S. Department of Labor Issues ERISA Opinion on Swaps

Much of the investment capital in the U.S. market is in retirement plans subject to the Employee Retirement Income Security Act of 1974 (“ERISA”). Over the years, an important element of a number of plans’ investment...more

2/15/2013 - Derivatives Dodd-Frank DOL ERISA Fiduciary Duty INHAM QPAM Swaps

Department of Labor Clarifies Interpretation of “Related” Under the QPAM Exemption

The U.S. Department of Labor (the “DOL”) recently issued an information letter, dated November 9, 2012 (the “Information Letter”), in which it confirms that, for all purposes of determining what parties are “related” to a...more

11/30/2012 - Asset Management DOL ERISA

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