News & Analysis as of

Pensions

Federal Bill Seeks to Create Portable Benefits for Gig Economy Workers

by Littler on

Senator Mark Warner (D-VA), a lawmaker known for closely monitoring the changing nature of work, has introduced in the Senate legislation to promote innovative ways to offer portable benefits to workers in the on-demand...more

Littler Global Guide - Portugal - Q1 2017

by Littler on

State Budget Law 42/2016 of December 28, 2017 - Enacted Legislation - Effective January 1, 2017, State Budget Law for 2017 introduced various modifications to the labor law landscape, which have had an immediate...more

What the First-Ever Bill Promoting Portable Benefits for Independent Contractors Does – And Does Not Do

by Pepper Hamilton LLP on

Independent contractors and other contingent workers are not currently eligible for workers’ compensation, disability benefits, health insurance coverage, and pension benefits under federal and most state laws. This may well...more

New Funding Framework for DB Pension Plans Announced A Follow up from the 2017 Ontario Budget

by Bennett Jones LLP on

On May 19, 2017, the Ontario Government announced that it is implementing a new funding framework for defined benefit (DB) pension plans in Ontario. Highlights include...more

Manufacturing Matters May 2017

by DLA Piper on

As mentioned in the last issue of Manufacturing Matters, “Smart Manufacturing”, including automation, is gaining momentum. A number of leading global manufacturers have already adopted it, and according to The Annual...more

FAQ: Recent Developments in US Law Affecting Pension and OPEB Claims in Restructurings (2017)

by Latham & Watkins LLP on

From theory to practice, planning to enforcement, the answers to 42 of the most frequently asked questions can help you prepare, cope or respond to a restructuring. This Client Alert answers some of the most frequently asked...more

Federal Circuit Denies Claim Under SCA Price Adjustment Clause for Pension Withdrawal Liability

by Holland & Knight LLP on

Last month, the U.S. Court of Appeals for the Federal Circuit (CAFC) affirmed a decision of the U.S. Court of Federal Claims upholding and NASA’s denial of a claim in the amount of about $2 million for reimbursement pension...more

Venezuela Anuncia Aumento del Salario Mínimo y del “Cestaticket Socialista”

by Littler on

Mediante los Decretos N° 2.832 y N° 2.833 publicados en Gaceta Oficial N° 6.296 Extraordinario, de fecha 2 de mayo de 2017, el Presidente Nicolás Maduro aumentó el salario mínimo mensual en un sesenta por ciento (60%) y...more

Venezuela Announces Increases to the Minimum Wage and Meal Benefit

by Littler on

Through Decrees N° 2.832 and 2.833, published in the Official Gazette N° 6.296 on May, 2, 2017, Venezuela’s President Nicolás Maduro increased the monthly minimum wage by 60% and the “meal benefit” calculation base to 15 tax...more

2017 Ontario Budget: Highlights for Pension Plan Sponsors and Administrators

by Dentons on

Pension plan sponsors and administrators have much to anticipate with the release of the 2017 Ontario Budget: A Stronger, Healthier Ontario (Budget) on April 27, 2017. The Budget provides updates to several pension reform...more

2017 Ontario Budget – Pension and Retirement Savings Issues

On April 27, 2017, the Ontario government tabled its 2017 budget (Budget), which included a number of pension and other retirement savings plans-related provisions. On that same day, the government introduced Bill 127, An Act...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

Planning ahead: the FCA's 2017/18 Business Plan priorities and strategic framework

by Hogan Lovells on

The FCA's latest Business Plan demonstrates a commitment to pushing forward on both existing and new initiatives across sectors, focused on maintaining fair consumer outcomes in the rapidly changing UK financial services...more

The First Dinosaur Has Died

by Jackson Lewis P.C. on

The New York Teamsters Road Carriers Local 707 Pension Fund (the “Local 707 Pension Fund”) is dead, reportedly having run out of money in early March 2017. The Pension Benefit Guaranty Corporation (“PBGC”) the federal...more

Pensions Round-Up - March 2017 (UK)

by DLA Piper on

Welcome to the latest edition of DLA Piper’s monthly newsletter – Pensions Round-Up – in which we provide an overview of developments in pension legislation, case law and regulatory guidance. In this edition we look at...more

Appellate Court Upholds City of San Diego’s Pension Reform Measure Against Unfair Labor Practices Charge

by Reed Smith on

In City of San Diego v. Public Employee Relations Board (April 11, 2017), the Fourth District Court of Appeal considered an unfair labor practices challenge brought by unions against the city of San Diego under the state’s...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

Pension Alerter - April 2017

by Hogan Lovells on

PENSION SCHEME INVESTMENT - New investment could have faced trustees with unlimited liability - Our investment funds team recently identified some highly detrimental terms, including potential unlimited liability,...more

The new pensions advice allowance: implications for trustees

by Hogan Lovells on

As announced in the 2016 Autumn Statement, pension schemes may (but will not be required to) allow members to withdraw up to £500 from their defined contribution (DC) pension pots to pay for financial advice about retirement....more

Charges and governance requirements for Defined Contribution pensions

by Hogan Lovells on

This note sets out the areas in which restrictions on charges and governance requirements apply to trustees or managers of occupational money purchase schemes. These requirements have been introduced over the last two years...more

ERISA: US Supreme Court Grapples with the Church Plan Exemption — Early Analysis

When does the “church plan exemption” apply? You already know that under the “church plan” exemption, Church plans do not have to comply with ERISA, including the requirements to fund a plan and pay Pension Benefit...more

Another Attempt to Control Rising Pension Costs in Pennsylvania Thwarted

In City of Allentown, the Pennsylvania Supreme Court ordered the City to implement an interest arbitration award which contained (among modifications to wages, sick leave, vacation, pension and overtime) a minimum staffing...more

Administrative Exhaustion As a Defense to Statutory ERISA Claims?  Not So Much

by Seyfarth Shaw LLP on

Seyfarth Synopsis: The Sixth Circuit becomes the seventh circuit court to not require administrative exhaustion for statutory ERISA claims (as opposed to denial of benefit claims), while two circuit courts still do. In...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

News emerged in past weeks that North Korean hackers were likely behind the theft of $81 million from the central bank of Bangladesh. You can add to that an attack on more than 20 Polish banks and an attempt at other...more

Pension May be Collapsed in the Face of an Admitted Fraud

by Bennett Jones LLP on

In the recent decision of Alberta Motor Association v. Gladden, 2017 ABQB 174, the Alberta Court of Queen’s Bench clarified the limits to which employer-sponsored pension benefits will be immunized from enforcement...more

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