News & Analysis as of

Employer Contributions

Massachusetts Employers Face $200 Million Increase in Health Care Costs under MassHealth Amendments

On August 1, Massachusetts Governor Charlie Baker signed into law H. 3822, “An Act Further Regulating Employer Contributions to Health Care” (the “Act”). The purpose of the Act is to shore up the finances of the...more

Forfeiture Freedom

by Jackson Lewis P.C. on

Some of our employer client sponsors of pre-approved 401(k) plans have contacted us regarding plan amendment notices received recently from their prototype or volume submitter plan document sponsors relating to the expanded...more

Massachusetts Temporarily Imposes Employer Assessments for the Commonwealth’s Medicaid Program

by Seyfarth Shaw LLP on

Seyfarth Synopsis: On August 1, Massachusetts Governor Charlie Baker signed into law a measure intended to help the state pay for the costs of the Commonwealth’s Medicaid program, referred to as MassHealth, which covers...more

A quick guide to asset protection for pension schemes

by Allen & Overy LLP on

What protection is available for pension scheme assets in the event of provider failure such as negligence, fraud or insolvency, or the failure of the other parties involved in an investment? This question is particularly...more

Trump Tax Proposal Could Create Compensation-Related Opportunities

The Trump administration’s proposed overhaul of the federal income tax system includes a reduction of the maximum federal corporate income tax rate from 35 percent to 15 percent. If enacted, the proposal — a one-page outline...more

Efforts to Shore up MassHealth Should Favor Simplicity and Avoid Potential Conflict with Federal Law

In an effort to make up for a funding shortfall in the Commonwealth of Massachusetts’ Medicaid program, state policymakers have proposed solutions that include a “play-or-pay” option under which employers who fail to offer...more

Global Employee Equity at a glance: Taiwan

by White & Case LLP on

Stock Option Plans: Employment - Labor Concerns - There is a risk of employees claiming that they are entitled to compensation for loss of rights under the Plan where the Plan is amended or discontinued or where...more

Global Employee Equity at a glance: Turkey

by White & Case LLP on

Stock Option Plans: Employment - Labor Concerns - There is a risk of employees claiming that they are entitled to compensation for loss of rights under the Plan where the Plan is amended or discontinued or where...more

Global Employee Equity at a Glance: United Kingdom

by White & Case LLP on

Stock Option Plans: Employment - Labor Concerns - There is a risk of employees claiming that they are entitled to compensation for loss of rights under the Plan where the Plan is amended or discontinued or where...more

Changes to the Canada Pension Plan: a field guide for Ontario employers

by Dentons on

Are you an employer who is uncertain about what you should be doing to prepare for the changes to the Canada Pension Plan (CPP)?  This guide will help you....more

Are Employers Required to Make Contributions to Union Pension Fund for “Bonus” Payments?

by Farrell Fritz, P.C. on

Hammering Nails Construction has a CBA (collective bargaining agreement) with Local 1 of the United Brotherhood of Widgetmakers (“Union”). After a pension fund audit, Hammering Nails received a letter claiming it owed...more

IRS Views on Self-Certification of Financial Hardship

by Bryan Cave on

In today’s virtual world, we suspect most plan sponsors rely upon the self-certification process to document and process 401(k) distributions made on account of financial hardship. The IRS has recently issued examination...more

IRS Allows 401k Plan Safe Harbor and ADP ACP Corrective Contributions to be Funded from Forfeitures

We are pleased to bring you some good news for 401(k) plans from the IRS. The IRS just issued a proposed regulation that allows safe harbor contributions to a 401(k) plan, or employer contributions used to correct a...more

Be Aware Belgium February 2017

by DLA Piper on

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

by Seyfarth Shaw LLP on

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

by Seyfarth Shaw LLP on

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

by Sherman & Howard L.L.C. on

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

by Bryan Cave on

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!

by Dentons on

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

by Dentons on

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...

by Carlton Fields on

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

by Dentons on

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

by Holland & Knight LLP on

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

by DLA Piper on

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)

by DLA Piper on

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

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