Angela Bohmann

Angela Bohmann

Leonard, Street and Deinard


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The Retirement Toolkit

My colleague Jeff Cairns recently blogged about a proposed regulation of the Department of Labor (DOL) that will require employers to include on plan statements estimates of the lifetime annuity amount that a participant’s...more

6/13/2013 - DOL Retirement Retirement Plan

Employment And Labor Law Alert: Minnesota's Same-Sex Marriage Law: Effects On Employers

On Tuesday, May 14, 2013, Governor Dayton signed into law a bill legalizing same-sex marriage in Minnesota (H.F. 1054 and S.F. 925), effective August 1, 2013....more

5/20/2013 - DOMA Employee Benefits Exemptions FMLA Same-Sex Marriage Spousal Tax Relief

Be Careful If ROBS Is Your Business Financing Strategy

Various promoters have suggested to entrepreneurs that they use the assets in their 401(k) plans or IRAs to finance a new business. These programs are sometimes known by the acronym ROBS, or Rollovers as Business Start-ups....more

5/16/2013 - 401k IRA IRS ROBS

Another Business Owner Caught By Withdrawal Liability

I have blogged before [May 16, 2012, November 21, 2012, April 23, 2012, May 15, 2012, September 5, 2012] about the liability that can be imposed on businesses whose union employees participate in a multiemployer pension plan...more

5/14/2013 - Multiemployer Plan Pensions Unions Withdrawal Liability

A Self-Funded Employer’s Worst Nightmare

Employers who sponsor health plans for their employees can purchase insurance contracts to fund those plans. Alternatively, employers can self-fund or self-insure those benefits, agreeing to pay the claims themselves....more

5/13/2013 - Health Plan Sponsors Loss Coverage Self-Funded Health Plans

Nonresident Employee Avoids New York Taxes On Deferred Compensation Payment

A taxpayer we will call John worked for a savings bank in New York that was acquired by Washington Mutual Bank. John participated in the New York bank’s supplemental executive retirement plan (SERP) and its deferred...more

5/13/2013 - Deferred Compensation Residency Status State Taxes Tax Liability

EEOC Requires Reasonable Accommodations For Wellness Plans

Many employers are offering wellness programs to employees in connection with their health plans and are aware of the HIPAA regulations that govern such programs. Although employers design their wellness programs to conform...more

5/1/2013 - ADA Disability EEOC Employer Liability Issues HIPAA Reasonable Accommodation Wellness Programs

Do Not Delay Getting Your QDRO

Employers know that benefits under a retirement plan can be split between a participant and a former spouse in the event of a divorce under the terms of a qualified domestic relations order (QDRO). A domestic relations order...more

5/1/2013 - Divorce Employee Benefits Multiemployer Plan Pensions QDRO Retirement Plan

Long Time Separation Does Not Equal Divorce

Most employers know that a married participant in a qualified retirement plan must name a spouse as beneficiary for at least a portion of the benefit unless the spouse signs a notarized written consent or the spouse cannot be...more

3/14/2013 - 401k Divorce Separation

It Pays To Add A Statute Of Limitations To Your Plan’s Claims Procedure

ERISA requires that plans contain a reasonable claims procedure. Courts have generally required claimants to exhaust that claims procedure before filing a lawsuit. In addition, if the plan gives the plan administrator...more

3/12/2013 - Claim Denial Letters ERISA Statute of Limitations Summary Plan Description

More On Discounted Stock Options Under Section 409A

My colleague Jeff Cairns blogged about a recent court case confirming the IRS’s position that discounted stock options can be considered noncompliant nonqualified deferred compensation arrangements under Section 409A of the...more

3/12/2013 - Deferred Compensation IRS Section 409A Stock Options

DOL Publishes Helpful Self Compliance Tools

The Department of Labor has published two checklists that plan sponsors can use to test their compliance with group health plan requirements. One checklist addresses the Affordable Care Act (ACA or health care reform)...more

3/7/2013 - Affordable Care Act Benefit Plan Sponsors Compliance DOL Employer Group Health Plans HIPAA

Target Date Retirement Funds – Tips For Plan Fiduciaries

Many plan sponsors have selected so-called “target date” funds as the default investment under the plan sponsor’s 401(k) or other qualified plan. A target date fund is one that includes investments in different asset classes...more

3/7/2013 - 401k Benefit Plan Sponsors Qualified Benefit Plans Retirement Plan

Independent Contractor Or Employee – It Can Depend Upon Who Has The Burden Of Proof

Those of us who work in the benefits area understand that the distinction between employee and independent contractor is an important one, but one in which the determination is not always clear. In many cases, the IRS takes...more

1/25/2013 - Burden of Proof Independent Contractors IRS Misclassification

Certain Plan Designs Will Cost More Under The Patient-Centered Outcomes Research Institute Fees

The Affordable Care Act establishes a Patient-Centered Outcomes Research Institute as a private nonprofit corporation to assist patients, clinicians, purchasers and policy makers in making informed health decisions using...more

12/26/2012 - Affordable Care Act Flexible Spending Accounts HRA HSA IRS Patient-Centered Outcomes Research Trust Self-Funded Health Plans

Be Careful How You Word Your Claims Procedure

In a recent decision of the United States District Court for the Eastern District of Oklahoma, a retiree who had begun work as a union employee and who during his employment was promoted to a salaried position, sued his...more

12/26/2012 - Administrative Appeals Appeals ERISA Exhaustion Doctrine Pensions Retirement Plan Wages

New York Taxes A Portion Of Stock Option Gain Of Nonresident Retiree

Like a number of states, New York requires nonresidents to pay income taxes on wages earned in the state. Those rules extend to an allocable portion of deferred compensation and gain from the exercise of stock options earned...more

12/10/2012 - Deferred Compensation Non-Resident Income Taxes Stock Options

Can I Add a No Compete Provision to a Severance Agreement?

Pactiv Corporation sponsored a severance plan subject to ERISA. The plan required an employee to sign a separation agreement and release in a “form acceptable to the company” in order for the employee to be entitled to a...more

11/21/2012

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