News & Analysis as of

Employer Contributions

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

CPP Expansion

by Dentons on

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

by Dentons on

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

by Ary Rosenbaum on

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

by Bryan Cave on

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

by Dentons on

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

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