On May 5, 2022, McDermott Partner Erin Turley delivered a presentation during the 2022 TEA National Conference titled “Understanding a Trustee’s Role in Management Incentive Plans.” Her presentation focused on the trustee’s...more
Earlier this spring, McDermott Partner Erin Turley delivered a presentation about the impacts of recent Employee Retirement Income Security Act of 1974 (ERISA) litigation. Lawsuits now target both large and small employee...more
On May 18, 2021, the Internal Revenue Service (IRS) issued much-anticipated Notice 2021-31 (the Notice) regarding the Consolidated Omnibus Budget Reconciliation Act (COBRA) premium subsidy provisions of the American Rescue...more
6/3/2021
/ American Rescue Plan Act of 2021 ,
Beneficiaries ,
COBRA ,
Coronavirus/COVID-19 ,
Covered Employees ,
Department of Labor (DOL) ,
Eligibility ,
Employee Benefits ,
Employer Group Health Plans ,
IRS ,
Premium Subsidies ,
Time Extensions
On October 30, 2020, the US Department of Labor (the DOL) issued a final rule to codify standards for how plan fiduciaries must consider financial factors when selecting and monitoring plan investments (the “Financial Factors...more
The decisions you make in response to the global pandemic will have lasting impacts on your business and your workforce. Join members of our ESOP team each Thursday for this webinar series designed to help you navigate and...more
The decisions you make in response to the global pandemic will have lasting impacts on your business and your workforce. Join members of our ESOP team each Thursday for this webinar series designed to help you navigate and...more
4/29/2020
/ Beneficiaries ,
Distribution Rules ,
Economic Downturn ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
ESOP ,
Liability ,
Relief Measures ,
Retirement Plan ,
Trustees ,
Webinars
Much has been written about the new CARES Act distribution that allows impacted COVID-19 participants to access up to $100,000 in their tax-qualified defined contribution plan penalty-free and with income taxes spread over...more
Coronavirus (COVID-19) raises serious concerns for employers of all shapes and sizes, across all industries and in every business sector. As the impact of COVID-19 continues to grow, many employers are faced with new...more
A new IRS notice will allow individuals to receive testing and care for COVID-19 without jeopardizing their ability to contribute to a health savings account (HSA). The IRS issued the notice due to the public health threat...more
The 2019 ESOP National Conference, an annual gathering for employee owners from all levels, association volunteer leaders and expert professionals, took place May 22–24. Two McDermott partners, Theodore (Ted) M. Becker and...more
California’s Dynamex Rolls Out The ABC Test And The Presumption Of Employment -
? The burden is placed on the employer to prove IC status
? Individual is deemed an employee unless employer demonstrates prongs A, B, and...more
2/8/2019
/ ABC Test ,
Appeals ,
CA Supreme Court ,
Employee Definition ,
Employee Retirement Income Security Act (ERISA) ,
Employer Liability Issues ,
Employment Litigation ,
Fair Labor Standards Act (FLSA) ,
FICA Taxes ,
Gig Economy ,
GrubHub ,
Independent Contractors ,
Misclassification ,
Retroactive Application ,
Wage and Hour
President Trump signed an executive order last year directing the Secretaries of Labor, Treasury and Health and Human Services to consider proposing regulations to “increase the usability of HRAs.” This month, the collective...more
Overview of Benefit Plan Audits (Agencies Conducting Audits) -
..Internal Revenue Service (IRS)
– Reviews both health and welfare plans and qualified retirement plans
– Primary jurisdiction over qualified status of retirement...more
During our Tax in the City roundtable event in Dallas, Erin Turley and Judith Wethall presented on the hidden costs in benefit contracts. They provided attendees with a checklist of what to look out for in contracts,...more
The Rise of Consumer Driven Health Care -
..Wellness programs
..Smoking programs
..High deductible health plans & HSAs
..Telemedicine
..Direct contracting
..Affordable Care Organizations
CDHP –Compliance...more
The US Department of Labor has taken the position that certain indemnification clauses are void against public policy under Section 410 of ERISA. This policy has been adopted by private plaintiff classes; as evident from a...more
Through a series of recent settlements, the US Department of Labor has outlined the process steps fiduciaries should follow in connection with a transaction involving a purchase from, or sale to, an employee stock ownership...more
Section 139 of the Internal Revenue Code allows an employer to provide tax-free qualified disaster relief payments to Texas and Louisiana employees in designated areas affected by Hurricane Harvey....more
In October 2016, the American Association of Retired Persons (AARP) sued the US Equal Employment Opportunity Commission (EEOC) in the US District Court for the District of Columbia seeking an injunction against the latest...more
Senate Republicans failed to pass legislation to repeal and replace the Affordable Care Act last week. After voting to proceed with debate on the American Health Care Act, which was passed by the House in May, the Senate...more
8/5/2017
/ Affordable Care Act ,
Cadillac Tax ,
Cost-Sharing ,
Employer Group Health Plans ,
Form 1095 ,
Health Insurance ,
Healthcare Reform ,
Legislative Agendas ,
Repeal ,
Shared Responsibility Rule ,
Trump Administration
The US Department of Labor’s new fiduciary rule is aimed at financial advisors, including brokers, who provide retirement plan services. However, the new rule will impact compliance obligations and potentially, costs for plan...more
7/9/2016
/ Benefit Plan Sponsors ,
Best Interest Contract Exemptions ,
Conflicts of Interest ,
Department of Labor (DOL) ,
Duty to Monitor ,
Employee Retirement Income Security Act (ERISA) ,
Fiduciary Duty ,
Individual Retirement Account (IRA) ,
Retirement Plan ,
Retirement Plan Providers ,
Tibble v Edison Int