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Weekly Update from the NC State House - June 2014: Following the GOP state convention this past weekend, House members returned to...

House Budget - Following the GOP state convention this past weekend, House members returned to Raleigh Tuesday to continue the budget process. House leadership held a press conference Tuesday morning to unveil their...more

Employment Law - June 2014

California Supreme Court Strikes Down $15 Million Employee Class Action Win and Orders Decertification in Duran V. U.S. Bank Nat’l Ass’n - Why it matters: On May 29, 2014, the California Supreme Court unanimously...more

Municipal Bond Market Absorbs Puerto Rico Supreme Court’s Decision that Teacher Pension Reform Legislation is Unconstitutional...

The latest swerve in the rollercoaster that is Puerto Rico public finance occurred on April 11 with the release of the Puerto Rico Supreme Court’s ruling striking down as unconstitutional the bulk of the territory’s teacher...more

Alabama Legislative Update - Week 6: Halfway Through the Session, Tax Bills Take Center Stage

Last week marked the halfway point in this legislative session, with Tuesday being the 15th of 30 legislative days. Legislative leaders still expect the 2014 session to end on April 7....more

Junior Goes to College! Innovative Strategies to Save for Your Children's College Education with Pre-Tax Dollars

Overview - The cost of college tuition has gone through the roof. The average cost of a private university can range from $40,000-60,000 per year. The cost of a public university is a lot less in most cases except that...more

2013 Summary Of New Maine Laws & Carried Over Legislation

As an on-going service to our clients, Pierce Atwood is pleased to provide this updated summary of selected new Maine laws enacted during the 126th Maine Legislature’s 1st Regular Session and 1st Special Session, as well as...more

Under The Dome: 2013 Summary Of New Maine Laws & Carried Over Legislation - State Of Maine 126th Legislature, 1st Regular Session...

Pierce Atwood LLP is pleased to provide a summary of selected new Maine laws enacted during the 126th Maine Legislature’s 1st Regular Session, as well as legislation carried over to next year’s 2nd Regular Session. Laws and...more

2013 Florida Legislative Session Recap

Prior to the start of the 2013 Florida legislative session, President Gaetz and Speaker Weatherford outlined a joint agenda that included tackling ethics, elections, campaign finance, state pensions and higher education. The...more

Recent 403(b) Developments

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

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

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

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

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

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

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

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

Gender Identity Will Become A Protected Class In Massachusetts

The Massachusetts legislature has amended its state anti-discrimination law to prohibit discrimination based on gender identity in employment, insurance, housing, lending, credit and education. The legislation also expanded...more

Massachusetts Enacts Law Prohibiting Discrimination Against Transgendered Individuals

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

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

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

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

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

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

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

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

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