News & Analysis as of

Pensions

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

CASE ALERT: 8th Circuit Rules Against Anheuser-Busch Plan Finding That ERISA-Plan Language Must Be Interpreted According to its...

by Kiesewetter Law Firm on

Case: Knowlton, et al. v. Anheuser-Busch Companies Pension Plan — Eighth Circuit Issue Presented: Whether a plan administrator’s interpretation of ERISA-subject plan language that resulted in a denial of pension...more

Read the plan document

by Ary Rosenbaum on

Being an ERISA attorney for a couple of third party administration (TPA) firms when I first started helps you develop a sense of humor because there are too many people I was associated with who had absolutely zero training...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

Multiemployer Pension Plans: Section 1405 – Limitation on Withdrawal Liability

by FordHarrison on

In a recent decision involving a withdrawal liability assessment by a multiemployer pension plan, an arbitrator reduced the assessment by approximately 50 percent and ruled in favor of the employer on several significant...more

Structuring Private Equity Deals in 2017: Considerations for Buyers While They Wait for the Sun Capital Appeals to Play Out

by McDermott Will & Emery on

Sun Capital Partners III, LP v. New England Teamsters and Trucking Industry Pension Fund has been analyzed extensively over the past four years, as it has made its way from the US District Court for the District of...more

Who is a “parent” in the Ontario pension world? And why does it matter?

by Dentons on

Any person who is the “spouse” of a member of a registered pension plan in Canada has rights regarding the pension entitlement of his or her partner. That important policy has been entrenched in pension legislation for...more

Illinois Supreme Court Holds Occupational Disease Pension Does Not Trigger Health Insurance Benefits

by Sedgwick LLP on

In 2003, the Illinois Supreme Court held that anyone who qualified for a line-of-duty pension under section 4-110 of the Illinois Pension Code qualified as having a “catastrophic injury” within the meaning of Section 10(a) of...more

News from the Vermont State House - An analysis from DRM's Government & Public Affairs Team - February 2017

by Downs Rachlin Martin PLLC on

The Agency of Transportation has submitted a proposal to the House Transportation Committee that would allow the agency to seek damages from a utility that fails to move or adjust a utility line that is in a state or local...more

Corporate News - February 2017

by Hogan Lovells on

A monthly newsletter covering topics of interest in the field of UK corporate law including mergers and acquisitions, listed companies, equity capital markets, corporate governance and general company law. Please see...more

DOL Fiduciary Rule Still On for April 10 Implementation

by Burr & Forman on

The Department of Labor’s Fiduciary Duty Rule remains on track for April 10 implementation, notwithstanding a maelstrom of hype about it. Nearly everyone expected the new administration would delay the Rule – and many...more

Religious Institutions Update: February 2017

by Holland & Knight LLP on

Timely Topics - A draft executive order of President Donald Trump relating to religious freedom proposes several material changes to federal law. First, it would require the executive branches to recognize a broad scope...more

Dealing with New IRS Qualification Requirements for Pension, Profit Sharing and 401(k) Plans, Effective January 1, 2017

by GableGotwals on

The procedures for qualification of an employer sponsored individually designed pension, profit sharing or 401(k) plan for favorable tax deferred treatment under the Internal Revenue Code (“Code”) changed significantly...more

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