Employer Contributions

News & Analysis as of

Be Aware Belgium February 2017

This issue discusses the fact that employers should bear in mind that the employer social security contribution on bridge pension indemnities have repeatedly been increased in the past, and it could very well be that they...more

UK Government to Implement Immigration Skills Charge

Seyfarth Synopsis: The UK government will introduce an “Immigration Skills Charge” in April 2017 that will substantially increase the cost for companies to sponsor Tier 2 workers in the UK. The following alert is...more

Newly Proposed IRS Rules Permit the Use of Forfeitures for QNECs and QMACs

On January 18, 2017, the IRS issued proposed regulations that expand the permitted uses of forfeitures in a 401(k) plan. Under the proposed rules, the definitions of “qualified nonelective contributions” (QNECs) and...more

IRS Relaxes Rules on Use of Forfeitures to Fund Safe Harbor Contributions and QNECs to 401(k) Plans

The IRS recently issued welcome guidance for sponsors of 401(k) plans. On January 18th, the IRS issued proposed regulations that permit forfeitures to be used to fund the employer’s safe harbor contributions, qualified...more

Now You Can Be Up to Your QNEC in Forfeitures

On January 18, 2017, the IRS issued proposed regulations allowing amounts held as forfeitures in a 401(k) plan to be used to fund qualified nonelective contributions (QNECs) and qualified matching contributions (QMACs). This...more

Ontario regulatory form regarding pension plan contributions: comply!

Trustees and administrators of Ontario registered pension plans: beware of Form 7. That’s the form that administrators of registered pension plans must complete, and send to their pension fund trustees, that summarizes...more

The Chancellor’s Autumn Statement

It’s that time of the quarter again and Chancellor Philip Hammond’s first (and last) Autumn Statement. It’s also the first Statement ‘post-Brexit’. The focus of the Statement has, as predicted, been on austerity versus...more

Third Circuit Rejects Contractor’s Challenge To Arbitral Jurisdiction Based On Failure To Comply With Agreement’s Procedural...

The Third Circuit affirmed a lower court’s ruling against a contractor challenging an arbitrator’s authority in ordering payment of delinquent contributions to employee benefit funds. Plaintiff (“Nolt”) signed a Project Labor...more

Canada Pension Plan enhancements: it’s happening

Yesterday the federal government tabled Bill C-26, which will implement changes to the Canada Pension Plan that were announced in June, 2016.  All provinces other than Quebec are now on board, in support of increased employer...more

Double-Breasted Company Owners, Officers Can Be Indicted for Underpaying Benefit Contributions

The U.S. District Court for the District of Massachusetts held in September that the shareholders and officers of a double-breasted construction company can be indicted and could go to prison if the government proves they...more

Pensions Round-Up (UK) - August 2016

In this edition we look at key developments from the past month including the following. - The Pensions Regulator: the new code of practice, accompanying guidance and compliance and enforcement policy in relation to...more

Pensions Round-Up: June 2016 (UK)

Welcome to the latest edition of Pensions Round-Up which provides an overview of developments in pension legislation, case law and regulatory guidance. In this edition we look at key developments from June 2016 including...more

CPP Expansion

Retirement savings in this country has been a hot topic of late, and yesterday evening in Vancouver the federal government and (most of) the provinces announced that they have reached a deal to expand the Canada Pension Plan....more

Ontario Retirement Pension Plan: a guide

Media coverage about the Ontario Retirement Pension Plan (ORPP) has been unrelenting for the past two years. The Ontario government has made many announcements setting out its vision for its new, government-run defined...more

Bill 186: Ontario Retirement Pension Plan Act (Strengthening Retirement Security for Ontarians), 2016, Introduced

On April 14, 2016, the Ontario government introduced the Ontario Retirement Pension Plan Act (Strengthening Retirement Security for Ontarians), 2016, as Bill 186 (Bill or Act) in the Ontario legislature. The government...more

No such thing as assembly line Retirement Plans

Henry T. Ford is considered the father or the pioneer of the modern day assembly line of manufacturing. His development of the Model T and its way of manufacturing is considered one of the great developments in 20th century...more

Undermining the Goal of Expanding Coverage for Nonhighly Compensated Employees

One might be led to believe that the current administration is in favor of expanding retirement savings opportunities. After all, the DOL has somewhat apologetically subverted ERISA to allow the States to sponsor...more

ORPP Update: Enrollment and Phase-in of Contributions Delayed

The Ontario and federal governments announced on February 16, 2016 that they have reached an agreement regarding the Ontario Retirement Pension Plan (ORPP) and improving pensions for Canadians. With contributions originally...more

Auto-enrolment update – case law and trigger changes

Auto-enrolment update - Key points: The Queen on the application of Fleet Maritime Services (Bermuda) Limited v. The Pensions Regulator [2015] EWHC 3744 confirms when peripatetic (basically "mobile") workers, who...more

IRS Updates Guidance on Certain Midyear Changes to Safe Harbor Plans

The Internal Revenue Service (IRS) recently issued Notice 2016-16 (the Notice) to provide updated guidance as to when midyear changes to a safe harbor 401(k) plan or 403(b) plan will not violate applicable regulations....more

IRS Relaxes Rules for Mid-Year Changes

Since its availability, many 401(k) plan sponsors, particularly smaller employers have adopted a “Safe Harbor” plan design under Code Section 401(k)(12) or (13) and 401(m)(11) or (12). Safe Harbor plan designs include both a...more

Don’t be Delinquent — Employer Loses Contribution Case by Default

The Court of Appeals for the Seventh Circuit recently affirmed the importance of paying close attention to procedural rules. In Central Illinois Carpenters Health & Welfare Trust Fund v. Con-Tech Carpentry, LLC, No....more

Bipartisan Budget Act of 2015 Includes Pension and ACA Provisions

On November 2nd, the President signed legislation that will raise the debt ceiling through March 2017. The legislation includes important provisions relating to pension funding, PBGC premiums, and the Affordable Care...more

A Troubling Future Part One:  Teamsters’ Pension Rescue Plan

Two significant developments in the multi-employer pension world emerged in September, developments which could give manufacturers concern.  While this is not the time to panic (we have plenty of time to panic), readers...more

Changes to French qualifying plans

On 7 August 2015, the Loi Macron introduced changes to French qualified restricted stock units ("RSUs"). It introduced a more favorable regime; however, in order to benefit from it companies will have to obtain shareholder...more

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