On April 14, 2021, the United States Department of Labor (the “DOL”) issued for the first time guidance to retirement plan sponsors, fiduciaries, record keepers, service providers and plan participants guidance on...more
Even as senior management rapidly shifts priorities in the face of layoffs, volatile stock prices and sharp declines in cash flow, compensation committees must come to terms with the impact of the coronavirus (COVID-19)...more
The new Coronavirus Aid, Relief, and Economic Security Act (CARES Act), signed into law March 27, 2020, offers relief for employers and employees enduring the financial pressures of the coronavirus pandemic.
Specific...more
What is this bill? A new bill introduced in the U. S. Senate on March 14, 2019 would require companies to obtain explicit user consent before facial recognition data could be collected and shared. The bill is known as the...more
The Internal Revenue Service recently issued Revenue Procedure 2018-52 (the 2018 RP) to provide revised procedures for its Employee Plans Compliance Resolution System (EPCRS) — the system through which plan sponsors can...more
It seems that most employees and plan participants “think” their retirement money and data are not at risk. This is due, in part, because:-
there are few published incidents of breaches or potential hacks...more
On Dec. 22, President Trump signed into law the 2017 Tax Act, the most comprehensive set of changes to the Internal Revenue Code since 1986. Some of the changes affect executive compensation and employee benefits. Because...more
1/2/2018
/ Affordable Care Act ,
Compensation & Benefits ,
Deferred Compensation ,
Employee Benefits ,
Executive Compensation ,
Individual Mandate ,
Internal Revenue Code (IRC) ,
Section 162(m) ,
Section 409A ,
Tax Cuts and Jobs Act ,
Tax Deductions ,
Tax Reform
Last month, Institutional Shareholder Services (ISS) updated its proxy voting guidelines for the upcoming proxy season. The updates, summarized in part below, are effective for shareholder meetings on or after Feb. 1, 2018....more
The Department of Labor (DOL) on Nov. 29 finalized additional delays to major aspects of its fiduciary rule by formally extending, by 18 months, certain transition period deadlines and applicability dates. Consequently, in...more
The House GOP tax reform bill introduced Nov. 2, 2017, would have a major impact on employee benefits, including executive compensation, qualified retirement plans, fringe benefits and tax-exempt organizations. If adopted,...more
Last week, the Department of Labor (DOL) announced additional delays to major aspects of its fiduciary rule by proposing to extend certain transition period deadlines and applicability dates by 18 months. If finalized, full...more
The fiduciary rule issued by the Department of Labor (DOL) is one of the major developments in employee benefits law in recent years. The rule aims to reduce and regulate conflicts of interest related to paid investment...more
Last week, the Department of Labor (DOL) issued a request for information (RFI) in the form of 18 questions regarding its fiduciary rule and related prohibited transaction exemptions (PTEs). The RFI was issued approximately...more
Earlier this week, Secretary of Labor Alexander Acosta indicated in a Wall Street Journal op-ed article that there will be no further delay as to the parts of the fiduciary rule issued by the Department of Labor (DOL) that...more
On April 7, the Department of Labor (DOL) formally adopted its previously proposed 60-day delay of the applicability date of its fiduciary conflict-of-interest rule and related prohibited transaction exemptions (PTEs). The...more
Last week, the Department of Labor (DOL) announced a temporary enforcement policy related to its recently proposed 60-day delay of the April 10, 2017 applicability date of its fiduciary conflict-of-interest rule and related...more
On March 1, the Department of Labor (DOL) proposed a 60-day delay of the April 10, 2017 applicability date of its fiduciary conflict-of-interest rule and related prohibited transaction exemptions (PTEs). The delay was...more
“Cyber threats cannot be eliminated but they can be managed. Cyber experts say that it is not a question of if you will have a cyber-attack, rather it is a question of when. The next question is what you are going to do about...more
Until relatively recently, retirement plans have not made the news as targets of data breaches. This is somewhat surprising, given the wealth of participants’ personal data stored online by these plans. This past summer,...more
On Nov. 8, 2016, Institutional Shareholder Services (ISS) announced changes to its pay-for-performance methodology for U.S., Canadian and European companies broadening the financial measures that it will consider in its...more
Last week, the U.S. Department of Labor (DOL) issued long-awaited guidance in the form of answers to 34 frequently asked questions (the FAQs) on its final rule (the Rule) for determining when a party is a fiduciary, by virtue...more
This is the 56th in a series of WorkCite articles concerning the Patient Protection and Affordable Care Act and its companion statute, the Health Care and Education Reconciliation Act of 2010 (referred to collectively as the...more
As noted in this McGuireWoods alert, the SEC recently finalized the CEO pay ratio disclosure requirements under Section 953(b) of the Dodd Frank Act. The biggest piece of news in connection with the final rules is the delayed...more
On Aug. 5, 2015, the Securities and Exchange Commission (SEC) adopted a final rule implementing the CEO pay-ratio disclosure requirements of Section 953(b) of the Dodd-Frank Wall Street Reform and Consumer Protection Act....more
8/12/2015
/ CEOs ,
COLA ,
Data Privacy ,
Disclosure Requirements ,
Dodd-Frank ,
Emerging Growth Companies ,
Executive Compensation ,
Foreign Workers ,
Pay Ratio ,
Proxy Statements ,
Publicly-Traded Companies ,
Regulation S-K ,
Reporting Requirements ,
Securities and Exchange Commission (SEC) ,
W-2
In Announcement 2015-19 (Announcement), the Internal Revenue Service (IRS) has indicated that it is eliminating the staggered five-year determination letter (DL) remedial amendment cycles for individually designed...more