Labor & Employment Finance & Banking

Read need-to-know updates, commentary, and analysis on Labor & Employment issues written by leading professionals.
News & Analysis as of

The Pension Case: The State’s Reply Brief

In their reply brief in the Public Pension Reform Act appeal, the State immediately zeroes in on what it perceives as the central difficulty of the plaintiffs’ position: the trial court’s conclusion that the Pension...more

DOL Sends Proposed Conflict of Interest Rule to OMB for Review

The White House backs a “fiduciary rule” for IRAs. The U.S. Department of Labor (DOL) has sent its proposed “Conflict of Interest Rule-Investment Advice” to the president’s Office of Management and Budget (OMB) for...more

Sentencing of CEO Highlights Importance of a Good "Tone at the Top"

Highlighting the peril of unethical business leadership, a judge recently sentenced the former CEO of a bankrupt cash-management firm to 14 years in prison for defrauding more than 70 customers of more than $665 million...more

Federal Wage Claims? That's The Easy Part!

Retailers are all too familiar with collective actions filed under the Fair Labor Standards Act (FLSA) making claims for unpaid overtime based on alleged misclassification of employees as exempt, working off the clock, or not...more

Human Emotional Mistakes A Retirement Plan Provider Should Avoid

We are all human unless someone of us are cyborgs sent by Cyberdyne Systems in the future. Seriously, humans are controlled by emotions and everyone knows that after going through their teenage years. Human emotion can make...more

SEC Proposes Dodd-Frank Hedging Policy Disclosure Rules

The Securities and Exchange Commission (SEC) recently released long-awaited proposed rules, as mandated by Section 955 of the Dodd-Frank Act, that would require a public company to disclose whether the company permits its...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

New York AG Set to Propose Whistleblower Legislation

On February 26, New York AG Eric Schneiderman announced that he intends to propose state legislation to reward and protect employees who report information about misconduct in the banking, insurance, and financial services...more

Tax Policy Update

NUMBER OF THE WEEK: $42,268. The projected average taxable income of all tax returns in 2015, according to the Joint Committee on Taxation’s Feb. 27 report on “Fairness and Tax Policy.” The report also projects that the top...more

Three Dodd-Frank Whistleblower Anti-Retaliation Claims Fail

Courts recently issued three opinions on the whistleblower anti-retaliation provisions of the Dodd-Frank Act. In Murray v. UBS Securities, LLC, Mr. Murray claimed he was terminated because he refused to skew his...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

DHS Funded for One More Week; Shutdown Temporarily Averted

Republican leaders and both branches of Congress failed Friday to come to a long-term agreement to provide fiscal year funding for the Department of Homeland Security (“DHS”) and provide confidence that a DHS shutdown will be...more

SEC May Seek Companies’ Agreements to Determine Whistleblower Treatment

The SEC continues to focus on its whistleblower initiative. According to a February 25 Wall Street Journal article titled “SEC Probes Companies’ Treatment of Whistleblowers,” the U.S. Securities and Exchange Commission...more

The Rosenbaum Law Firm Review - March 2015

In This Issue: - It's The Plan Sponsor's Responsibility, Just Because. - Reasons When A Plan Sponsor Should Change Their Plan Providers. - What Retirement Plan Sponsors Have To Fear. - A great Retirement Plan?...more

ISS Issues FAQs on Proxy Voting Policies Regarding Bylaw and Charter Amendments Adopted Without Shareholder Approval

Existing (ISS) voting policy is to recommend against the election of boards of directors if charter or bylaw amendments were enacted without shareholder approval and in a manner that materially diminishes shareholders’ rights...more

SEC Continues to Investigate Contractual Impediments to Whistleblower Complaints

As Rachel Louise Ensign reported earlier this week in the Wall Street Journal (subscription required), the Securities Exchange Commission (“SEC”) continues to probe obstacles to corporate employees blowing the whistle. This...more

It’s The Plan Sponsor’s Responsibility, Just Because

I have been a fan of Sesame Street since I was a child and again as an adult when my children were younger. It’s a brilliant show that has educated millions of kids in the past 45 years. One of the great events in Sesame...more

Ninth Circuit: Spousal Consent Not Required Under Top-Hat Plans

The Ninth Circuit held that a participant’s brother, rather than his spouse, was the proper beneficiary of benefits under a profit sharing plan. In so holding, the Court found that: (a) the participant’s first wife, who was...more

Tibble Supreme Court Argument: Fiduciaries Must Monitor Investments

Section 413 of ERISA provides in general that no action for breach of fiduciary duty may be brought after the earlier of: (1) six years after (A) the date of the last action which constituted a part of the breach, or (B) in...more

White House Budget Recommends Elimination of in-Plan Roth Rollovers of After-Tax Contributions

As reported, the Internal Revenue Code currently permits a plan design that allows plan participants to convert non-Roth after-tax contributions to Roth contributions through in-plan Roth rollovers. This design would allow a...more

Enrollment Meetings Don’t Have To Be Run Like Funerals

I have been to many funerals and many 401(k) enrollment meetings and I have to say that most funerals are livelier than 401(k) enrollment meetings. It doesn’t have to be that way....more

Another study raises questions about possible CFPB payday loan limits

We recently wrote about two studies, one by Professor Ronald Mann and the other by Professor Jennifer Lewis Priestley, that cast serious doubt on the benefit to payday loan borrowers of an ability-to-repay requirement and...more

Blog: Institutional Investors Speak Out On Proxy Access And Conflicting Proposals

Earlier this month, the SEC’s Investor Advisory Committee devoted part of its agenda to the topic of proxy access and the much debated Rule 14a-8(i)(9), which permits companies to exclude shareholder proposals from their...more

SEC Timeout on Proxy Access Issue Has Wider Implications

On January 16, 2015, the SEC withdrew its December 1, 2014 no-action letter in which it concurred with the view of Whole Foods Market, Inc. that the company was entitled under SEC Rule 14a-8(i)(9) to exclude from its proxy...more

Make Sure Participants Know When Their Plan Benefits Have Been Transferred

Employers need to make sure that their employees know when benefits shift from one plan to another as illustrated by this case from Utah: Martin Marietta Corporation (Martin) operated a cement plant that it later...more

2,731 Results
|
View per page
Page: of 110

Follow Labor & Employment Updates on: