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Update: Multiemployer Pension Plans Volume 3

In This Issue: - April 2015 Developments for Multiemployer Pension Plans - Q & A - More Polsinelli MPRA Intelligence - MPRA Counseling Services - Follow On Twitter - For More...more

Under the Dome: Inside the Maine State House

Under the Dome: Inside the Maine State House provides a high-level overview of recent activity at the Maine State House. Governor Threatens to Hold Land Bonds - In a memo sent this week to lawmakers on the...more

DOL Re-Proposes Rule to make Brokers, Others, ERISA Fiduciaries

After almost five years of debate, the U.S. Department of Labor (“DOL”) is again trying to modify the ERISA definition of “fiduciary” as it relates to providing investment advice. On April 14, 2015, DOL re-proposed rules (the...more

Proposed MLA expansion in limbo

Despite the CFPB’s efforts to build support for the Department of Defense’s proposal to significantly expand Military Loan Act coverage, it now appears that the proposal may be put on hold. The DoD proposal would revise the...more

Minnesota Weekly Legislative Update: 04/2015

All week, both chambers and their respective finance committees have been working toward tonight’s third deadline of the session, by which committees must act favorably on major appropriation bills....more

Rule Expanding Military Lending Act Protections In Limbo

The Department of Defense's (DoD) proposed rule to revise and expand the coverage of its rule implementing the Military Lending Act (MLA) may be put on hold. The House Committee on Armed Services Subcommittee for Military...more

New York City Expected to Ban the Use of Credit Checks in Employment

On April 16, 2015, the New York City Council passed an amendment (“Amendment”) to the New York City Human Rights Law (“NYCHRL”) that, if signed into law, would make it an unlawful discriminatory practice for employers to use...more

NYC Ban on Use of Credit Checks in Employment Decisions Moves to Mayor’s Office for Signature

On April 16, 2015, the New York City Council voted overwhelmingly to amend the city’s Human Rights Law to prohibit employers from using an individual’s consumer credit history to make employment decisions. While the bill...more

Department of Labor Issues Sweeping Fiduciary Rule Proposal

On April 14, 2015, the Department of Labor (DOL) released a proposal to re-define who is rendered a "fiduciary" of an employee benefit plan under the Employee Retirement Income Security Act (ERISA) by providing investment...more

NC Politics in the News

Members of the North Carolina General Assembly had a full schedule last week, considering bills on everything from repealing the state’s cumbersome Map Act to voiding a law which required teachers to write Personal Education...more

New York City Council Passes Ground-Breaking Legislation Limiting the Use of Credit Checks in Employment

On April 16, 2015, the New York City Council, by a vote of 47-3, approved legislation that would prohibit the use of credit checks in employment decisions except in limited circumstances. The bill, which is expected to be...more

House Republicans ask CFPB and banking agencies to disclaim “Operation Choke Point”

Six Republican members of the House Financial Services Committee, including Chairman Jeb Hensarling, have sent identical letters to the CFPB, OCC, Fed and NCUA asking each agency to “publicly disclaim [its] past, present, and...more

Under the Dome: Inside the Maine State House

Under the Dome: Inside the Maine State House provides a high-level overview of recent activity at the Maine State House. Supplemental Budget to Become Law - Governor LePage will allow the state supplement...more

Under the Dome: Inside the Maine State House

Under the Dome: Inside the Maine State House provides a high-level overview of recent activity at the Maine State House. Supplemental Budget Bill Approved, On Governor's Desk - On Tuesday lawmakers approved a...more

Why PE Should Stick with Entrepreneurs’ Relief Over the New Employee Shareholder Status

Over the years the UK has seen a variety of tax efficient schemes available to incentivize management; and in 2014 the Employee Shareholder Status (ESS) regime was added into the mix. ESS essentially allows an employee...more

Court of Appeal Strikes Down 2011 S.F. Charter Requirement that SFERS Be "Fully Funded" Before Vested Supplemental COLAs May be...

In a March 27, 2015 opinion, the First District Court of Appeal unanimously declared a voter-approved amendment to the Charter of the City and County of San Francisco (City) to be unconstitutional as applied to current City...more

Minnesota Weekly Legislative Update: 03/2015

Today marks the end of the second deadline week at the Capitol. Non-finance bills which have not been heard in all required House and Senate policy committees by midnight tonight may not be acted upon. ...more

Congressional Report Takes Aim At Nonqualified Deferred Compensation

A recent report from ranking member Sen. Ron Wyden and the Democratic staff on the Senate Finance Committee indicates that nonqualified deferred compensation plans continue to be in the crosshairs of potential tax reform...more

Chief Justice Invites New Governor, Legislature to Rare Evening Oral Argument

This evening will bring an event likely not seen in Illinois in more than a century – an evening session of the Illinois Supreme Court....more

Blog: Senate Bill Introduced To Raise Rule 701 Disclosure Threshold

Senators Pat Toomey (R., PA) and Mark Warner (D., VA) have introduced Senate Bill 576, the ‘‘Encouraging Employee Ownership Act.’’ The bill would require the SEC, within 60 days after enactment, to raise the threshold in...more

White House Proposes New Rules to Protect Investors Saving for Retirement

You might think that the top priority of the broker or financial adviser managing your retirement funds is to maximize your returns, but that’s not always the case. Some steer their clients to bad retirement investments with...more

Wrap Up of the 2015 Virginia General Assembly

On Friday, February 27, 2015, the Virginia General Bill Gray Assembly adjourned. For the first time in 15 years, it was an early adjournment. Over 2500 bills and resolutions were filed, and Governor McAuliffe was presented...more

Week in Review - March 2015

Minnesota Budget Forecast/Surplus - Management and Budget shows the State’s previously forecast $1.038 billion surplus for the next biennium has grown to $1.87 billion. Governor Mark Dayton said he will propose using...more

“We are the state that built America”

This morning, Gov. Tom Wolf presented his inaugural budget to the General Assembly. Calling the proposal “a different kind of budget” that “includes Democratic ideas, Republican ideas and ideas that exist beyond party lines,”...more

Fighting the Fiduciary Rule Before It’s Been Even Proposed

Not long after President Obama expressed the desire that the Department of Labor (DOL) implement a fiduciary rule for brokers who work on retirement plans; did one of Wall Street’s paid minions strike back....more

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