News & Analysis as of

Employee Retirement Income Security Act (ERISA) Vesting

Jackson Lewis P.C.

Workin’ 9-5, What a Way to Make a Living – 401(k) Plan Eligibility for Part-Time Employees – Part 2 of the JL SECURE 2.0 Series

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On December 29, 2022, President Biden signed the Consolidated Appropriations Act, 2023, and Division T of the Act contains legislation dubbed the SECURE 2.0 Act of 2022 (SECURE 2.0). SECURE 2.0 contains an important...more

Goodwin

Ten Action Items for Employers When Planning Layoffs

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​​​​​​​A frequently used step to control costs in times of uncertainty is to reduce personnel. A well-planned restructuring or reduction in force, generally referred to as a “layoff,” can achieve meaningful cost reductions...more

Jackson Lewis P.C.

Eleventh Circuit Highlights Importance of Unambiguous Disclaimers in SPDs

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The Eleventh Circuit recently affirmed an Alabama district court’s decision granting summary judgment in favor of Allstate Insurance Company in a consolidated ERISA class action challenging Allstate’s decision to stop paying...more

Seyfarth Shaw LLP

IRS Provides Additional Clarity on Key SECURE Act Provisions

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On December 20th, before the outbreak of COVID-19 and the resulting pandemic, President Trump signed into law the Setting Every Community Up For Retirement Enhancement Act of 2019 (the “SECURE Act”) and the Bipartisan...more

Rivkin Radler LLP

Employee Benefit Plan Review – From the Courts

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Second Circuit Affirms Decision Rejecting ERISA Claims for Retiree Health Benefits The U.S. Court of Appeals for the Second Circuit has affirmed a district court’s decision dismissing claims under the Employee Retirement...more

Proskauer - Employee Benefits & Executive...

Seventh Circuit: Agreement for Retiree Healthcare Benefits Survives Agreement’s Termination

The Seventh Circuit held that retirees and their families were entitled to lifetime healthcare benefits because, although the healthcare agreement that had been negotiated by their union had expired, it provided that covered...more

Holland & Hart - The Benefits Dial

Walk this way…to avoid the pitfalls of ERISA

Companies implement bonus plans to meet a variety of business objectives: retention, specific company business goals, change of control, and others. In designing bonus plans, there are a variety of legal fields that must be...more

Williams Mullen

Federal Judge Dismisses ERISA Fiduciary Breach Claim against University for Lack of Standing

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A federal district court judge in Washington D.C. dismissed an ERISA fiduciary breach suit brought by a former employee of George Washington University (“GW”), finding the former employee lacked standing to sue.  The...more

Proskauer - Employee Benefits & Executive...

Third Circuit Deepens Circuit Split Over Test for “Top Hat” Status Under ERISA

A Third Circuit decision, Sikora v. UPMC, 876 F.3d 110 (3d Cir. 2017), deepens a circuit split over whether a participant’s bargaining power is relevant to determining whether a plan qualifies for “top hat” status under...more

Dentons

The Costly Tax Consequences of ESOP Disqualification

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Over the past several years, the IRS has renewed its focus on auditing Employee Stock Ownership Plans (ESOPs), in part because of allegedly abusive arrangements (for a quick overview, see Courtney’s ESOP post). Unfortunately,...more

Proskauer Rose LLP

The ERISA Litigation Newsletter - January 2017

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Editor’s Overview - In 2016, we saw a considerable uptick in the number and variety of excessive fee lawsuits commenced against plan fiduciaries of defined contribution plans. We begin the year by taking a look at these...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Plan Design Features That Crimp Retirement Savings

The Government Accounting Office (GAO) took a look at 80 401(k) plans and concentrated on the features that they believe limit an employee’s ability to save. While the Internal Revenue Code and ERISA currently allow all of...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

The Rosenbaum Law Firm Review - November 2016

Things That Won't Help A Retirement Plan Sponsor Limit Their Liability. Yup, not going to help. When I was a teenager, we were told that eating oat bran would lower cholesterol and it didn't. We're told that...more

Zuckerman Spaeder LLP

“Change of Control” Case Isn’t Governed By ERISA, Court Rules

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When an employee brings a lawsuit involving a plan adopted by their employer, one question is whether ERISA—the Employee Retirement Income Security Act of 1974—applies....more

BCLP

Keeping Your (Top) Hat On

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“Top hat” plans are plans employers maintain for a “select group of management or highly compensated employees.” These plans are exempt from many of ERISA’s protections, including eligibility, vesting, fiduciary...more

Proskauer Rose LLP

The ERISA Litigation Newsletter - April 2016

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Editor's Overview - This month we feature three key developments. First, we review the U.S. Supreme Court's decision in Gobeille v. Liberty Mut. Ins. Co., 136 S. Ct. 936, 947 (2016) wherein the Supreme Court held that a...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

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

Proskauer Rose LLP

The ERISA Litigation Newsletter - March 2016

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Editor’s Overview - This month we review the U.S. Supreme Court’s decision in Montanile v. Board of Trustees of National Elevator Industries Health Benefit Plan where the Supreme Court considered the scope of...more

Proskauer Rose LLP

The ERISA Litigation Newsletter - November 2015

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Editor's Overview - This month we take a look at how the lower courts have been dealing with claims for retiree health benefits after the U.S. Supreme Court's ruling in M&G Polymers USA, LLC v. Tackett, 135 S. Ct. 926...more

Proskauer Rose LLP

The ERISA Litigation Newsletter - June 2015

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Editor's Overview - In this month's newsletter, Anthony Cacace analyzes the heavily anticipated Supreme Court ruling in Tibble v. Edison Intl., 135 S. Ct. 1823 (2015), where the Court held that ERISA's fiduciary duty of...more

Faegre Drinker Biddle & Reath LLP

Supreme Court Decides M & G Polymers USA, LLC v. Tackett

On January 26, 2015, the U.S. Supreme Court decided M & G Polymers USA, LLC v. Tackett, No. 13-1010, holding that ordinary principles of contract law govern the interpretation of pension and insurance provisions of...more

Eversheds Sutherland (US) LLP

IRS Releases Additional Rulings on Lump-Sum Windows

The practice of offering lump-sum distributions has become increasingly popular among defined benefit plan sponsors looking to decrease volatility or other defined benefit plan risks. In some situations, plan sponsors offer...more

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