Finance & Banking, Education Law, Labor & Employment Law

Recent 403(b) Developments

by King & Spalding on 5/8/2013

Background - 403(b) retirement plans are similar to 401(k) plans, but the employers who may establish 403(b) plans are limited to public schools, certain tax exempt employers (including religious and charitable...more

Compensation and Unrelated Business Income are Focus of IRS Colleges and Universities Report

by Ropes & Gray LLP on 4/29/2013

Just a few weeks before many tax-exempt organizations file their annual Form 990, the IRS yesterday released its final report on the Colleges and Universities Compliance Project, which it had initiated in 2008 by sending...more

Alabama Legislative Update – Week 8: Burning The Midnight Oil

by Denise Killebrew, Dennis Nabors | Baker, Donelson, Bearman, Caldwell &... on 4/9/2013

When lawmakers returned on April 2 for the second half of the 2013 Regular Session, the 16th legislative day resulted in one of the longest of the year, with both houses adjourning close to midnight and then putting in long...more

Deadline Approaches for Gainful Employment Disclosures

by Brian Doyle, Paul G. Lannon | Holland & Knight LLP on 1/18/2013

Institutions of higher education that receive Title IV funding must properly disclose certain information concerning course offerings that are or may be considered gainful employment programs by the U.S. Department of...more

Tax-Free Employee Educational Assistance Programs Extended by Fiscal Cliff Legislation

by David Glaser | Patterson Belknap Webb & Tyler LLP on 1/4/2013

At the end of last year, we alerted you that the beneficial tax treatment of educational assistance programs under Section 127 of the Internal Revenue Code (the Code) pursuant to which an employer pays, or reimburses, an...more

AB 340 Brings Pension Reform to California Public Employees

by Kronick, Moskovitz, Tiedemann & Girard on 10/25/2012

The Governor signed Assembly Bill 340 (“AB 340”) on September 12, 2012, and the new law will bring changes to California’s public retirement systems. AB 340, formerly known as the California Public Employees’ Pension Reform...more

2012 Legislative Update Summary of Changes in School Law

by Franczek Radelet P.C. on 8/29/2012

The following is a summary of the 2012 legislative changes affecting school districts. Click here for a pdf of the entire summary or click the links below to review the specific topics (see full alert for pdf and links). To...more

Under the Dome: 2012 Summary of New Maine Laws

by Pierce Atwood LLP on 4/23/2012

We are pleased to share our summary of new laws enacted by the State of Maine 125th Legislature, 2nd Regular Session. When the Legislature completes its business, we will update the 2012 Summary of New Maine Laws report...more

Massachusetts Enacts Law Prohibiting Discrimination Against Transgendered Individuals

by Foley Hoag LLP on 12/5/2011

Last week, Governor Deval Patrick signed into law “An Act Relative to Gender Identity,” also known as the Massachusetts Transgender Equal Rights Bill. This law, which will go into effect in July 2012, extends the state’s...more

CalSTRS Gets Two New Board Members

by Allen Matkins Leck Gamble Mallory & Natsis... on 12/2/2011

The California State Teachers’ Retirement System (aka CalSTRS) claims to be the largest teachers’ retirement fund in the United States with assets of $148,000,000,000 at October 31, 2011. A 12 member board administers...more

Massachusetts Enacts Transgender Equal Rights Bill

by Ropes & Gray LLP on 11/29/2011

On November 23, 2011, Governor Patrick signed into law House Bill 3810, “An Act Relative To Gender Identity.” The new law protects transgender individuals from discrimination in housing, education, employment and credit by...more

Terminating a 403(b) Plan: Final Regulations Give a Green Light, but Employers Should Proceed with Caution

by Patterson Belknap Webb & Tyler LLP on 11/20/2011

Originally published in the Tax Management Compensation Planning Journal, 39 CPJ 227, 11/04/2011. In July 2007, the Internal Revenue Service (IRS) issued final regulations (the ‘‘Final Regulations’’) under §403(b) of the...more

Two Classes of Annuity Providers Do Not Violate § 403(b) Universal Availability Requirement

by Sutherland Asbill & Brennan LLP on 11/4/2011

In Private Letter Ruling 201142033 (July 25, 2011), the Internal Revenue Service (IRS) ruled that the IRC § 403(b) universal availability requirement was not violated merely because (i) a university system made available two...more

Senate Bill 1831 Signed Into Law; IMRF Releases Initial Guidance

by Franczek Radelet P.C. on 9/19/2011

As discussed in a prior alert, Senate Bill 1831 was set to impose a penalty on employers that contribute to the Illinois Municipal Retirement Fund (IMRF) for certain end-of-career salary increases for IMRF-covered employees....more

TRS Rules Expiring on July 1

by Franczek Radelet P.C. on 7/15/2011

Due to inaction by the Illinois General Assembly in the most recent legislative session, two important Teachers’ Retirement System (TRS) rules are set to expire on July 1 of this year. First, the post-employment work...more

Dept. of Education Issues Final “Gainful Employment” Regulations for Career College Programs

by Franczek Radelet P.C. on 7/1/2011

On June 13, 2011, the U.S. Department of Education (Department) released final regulations requiring career college programs to demonstrate that they are preparing students for “gainful employment.” Programs that fail to meet...more

Some Colleges and Universities to Receive 403(b) Plan Questionnaires from IRS

by Franczek Radelet P.C. on 5/25/2011

The Internal Revenue Service has announced that it is sending 403(b) compliance questionnaires to a random selection of approximately 300 colleges and universities (both public and private) as part of an increased effort to...more

The Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010

by Duane Morris LLP on 12/28/2010

Last-Minute Year-End Tax Planning Possible with the Passage of the Long-Anticipated Legislation On December 17, 2010, President Obama signed into law the greatly contested and debated Tax Relief, Unemployment Insurance...more

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Finance & Banking › Education Law › Labor & Employment Law