In 2008, the Sonoma County Board of Supervisors (“County”) acted to cap the county’s contributions for health care benefits for retired employees at $500 per month. The Sonoma County Association of Retired Employees...more
DIVIDING RETIREMENT ACCOUNTS - There are important differences associated with dividing retirement plans that are already in pay status and those that are not. Some people divorcing later in life are already retired,...more
Back in the fall of 2011, an expert committee chaired by Alban D’Amours was mandated by the Quebec government to analyze the state of the Quebec retirement income system and to make recommendations on how to improve it in...more
On April 10, the Treasury Department released its “General Explanations of the Administration’s Fiscal Year 2014 Revenue Proposals.” Known as the “Green Book,” the document provides an explanation of the Administration’s FY...more
Executive Summary: ERISA “top hat” plan’s anti-alienation provision does not trump state garnishment laws. A familiar feature of ERISA is its protection of a participant’s retirement savings from creditors; ERISA...more
The last agenda item for Monday’s meeting of the Investment Committee of the Public Employees’ Retirement System was an ongoing ”Discussion of Investment Beliefs”. No, this wasn’t a theological discussion. For the last two...more
For many couples, Pension plans, IRAs, 401ks and other retirement plans represent a significant portion of their net worth. These assets are addressed as marital property in divorce settlement agreements, to be divided...more
The "paradise" stories for the post-playing careers of professional athletes are without a doubt under told. The success of Roger Staubach in building a real estate empire, the multiple businesses of NBA all-stars Magic...more
That's not a simple question to answer, as you balance the benefits of a lower cost of living with the realities of a soft real estate market and the emotional aspects of selling the family home ...more
Korman v. Consolidated Edison Co., No. 12-CV-1561 (JFB-ARL) (E.D.N.Y. Jan 16, 2013): The plaintiff brought the Employee Retirement Income Security Act (ERISA) and common law claims against his benefits provider,...more
Does your defined benefit plan have a lump sum option? Nearly forty percent of U.S. employers who sponsor defined benefit pension plans are at least “somewhat likely” to offer lump sums to retirees and vested terminated...more
According to a recent Bloomberg report, the Consumer Financial Protection Bureau is considering whether it should take a role in helping Americans manage their retirement savings. CFPB Director Richard Cordray told a...more
A group of retirees from Lawrence Livermore National Laboratory brought a lawsuit against the Regents of the University of California (“Regents”) after the University of California eliminated their University-sponsored health...more
In This Issue: - Health & Welfare Plans ..Health Care Reform: IRS Issues Proposed “Pay or Play” Regulations ..Health Care Reform: IRS Issues FAQs on Various ACA Issues ..HHS Issues Final HIPAA Regulations...more
An employee on disability leave brought a lawsuit against the county that employed her for failure to reinstate her or to help her apply for disability retirement benefits. A court of appeal held that the employee failed to...more
In This Issue: - Editors' Overview - The Future Role of Experts in ERISA Class - View from Proskauer: Health Insurance Exchanges and Retiree Medical Exits--Five Ways To Make Sure It's Really a "Soft...more
In a 4-3 decision in Scott v. Williams, No. SC12-520 (Fla. Jan. 17, 2013), the Florida Supreme Court recently upheld the constitutionality of a 2011 law, Senate Bill 2100, requiring Florida’s public employees to contribute...more
The IRS recently released the long-awaited updated version of the Employee Plans Compliance Resolution System (EPCRS), Revenue Procedure 2013-12. EPCRS allows the sponsor of a tax-deferred retirement plan to voluntarily...more
On December 31, 2012, as Times Square in New York was getting ready to drop the crystal ball, the Internal Revenue Service (IRS) dropped long-awaited guidance regarding retirement plan corrections in the form of Revenue...more
In order to have the new 2012-13 education legislation handy, we have combined our series on the subject into one easy to reference location. Here you will find a recap of all the legislation we summarized, along with a link...more
The Department of Justice (DOJ) has announced that Jacksonville, Florida-based American Sleep Medicine LLC has settled allegations that it fraudulently billed Medicare, TRICARE (the health care program for uniformed...more
On December 31, 2012, the Internal Revenue Service (the “IRS”) released Revenue Procedure 2013-12, which contains long-awaited updates to the Employee Plans Compliance Resolution System (“EPCRS”), previously set forth in...more
For more than 20 years, Pennsylvania retirees who accepted an early retirement incentive plan have been denied unemployment compensation benefits under the Unemployment Compensation Law (UC law). The Supreme Court of...more
The newly enacted American Taxpayer Relief Act (H.R. 8) includes a significant new opportunity to perform “in-plan” conversions of pretax dollars to Roth (after-tax) dollars of funds held in defined contribution retirement...more
President Obama has signed the American Taxpayer Relief Act of 2012 (the “Act”). The Act partially averts the so-called “fiscal cliff,” making permanent many Bush-era tax rate provisions while increasing taxes on...more
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