News & Analysis as of

Retirement Plan Severance Agreements

Fisher Phillips

Workplace Law Forecast 2024 - Your workplace law recap for 2023 and predictions for 2024 to help you prepare for the coming year.

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When I reflect on the relationship that our firm has with our clients, I’m most proud of the fact that you can always count on us. That often means defending complex litigation, steering you through regulatory threats,...more

Kaufman & Canoles

ESOPs & Employee Benefits Q3 2023 Client Update

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As summer turns to fall, the employee benefits landscape continues to evolve. A few of our thoughts on recent updates are below. Also be on the lookout over the coming weeks for a separate guide to SECURE 2.0 provisions that...more

Groom Law Group, Chartered

Seventh Circuit Affirms Plan Sponsor’s Discretion for Severance Benefits

A recent opinion out of the U.S. Court of Appeals for the Seventh Circuit provides additional support for ERISA-governed severance plans to incorporate a “discretionary component” as a factor in determining eligibility for...more

Sherman & Howard L.L.C.

Careful Drafting Carries the Day--Northrop Grumman HR is not a Fiduciary Under Severance Plan

Northrup Grumman ends nearly decade-long class action with hundreds of members, all thanks to careful and compliant drafting of a severance plan. Here’s what you need to know. In Alan Carlson et al. v. Northrop Grumman...more

Ogletree, Deakins, Nash, Smoak & Stewart,...

Beltway Buzz - March 2023 #4

POTUS Issues First Veto. On March 20, 2023, after more than two years in office, President Biden issued his first legislative veto. As expected, President Biden rejected the bipartisan Congressional Review Act resolution that...more

Verrill

Primer on Severance Plans Under ERISA and the Tax Code

Verrill on

Many employers maintain formal or informal severance policies or practices that they use sporadically. Other employers may implement a severance program for a limited period of time to reduce the number of employees overall...more

Robinson+Cole ERISA Claim Defense Blog

When is a Severance Plan NOT an ERISA Plan

Though there are many legal complexities that can arise in a typical ERISA lawsuit, one thing that is typically not in dispute is whether there is an ERISA Plan at issue....more

Epstein Becker & Green

Return-to-Work: Benefits Guidance in the Time of COVID-19

Many U.S. businesses are starting to prepare for phased returns to the workplace. Employers’ planning should consider the impact that various return-to-work approaches may have on their employee benefits and compensation...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

Best Best & Krieger LLP

A 457(b) Plan Distribution Depends on Which 457(b) Plan You’re In

With very few exceptions, the rules governing governmental 457(b) plans require a “severance of employment” to occur before a distribution can be made. Recently, we came across yet another of those arcane, little-known rules...more

McDermott Will & Emery

Severance and Deferred Compensation Considerations for Tax-Exempt Colleges and Universities

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In-house counsel and human resources professionals at tax-exempt colleges and universities often face a variety of challenges when structuring, and determining obligations due under, severance arrangements. There are some key...more

Locke Lord LLP

[Webinar] 30th Annual Employee Benefits Webinar - September 26th, 8:15am CT

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Please join the Locke Lord Employee Benefits and Executive Compensation Group for our 30th annual employee benefits webinar. Our attorneys will provide an overview of current developments related to employee benefit plans....more

Sherman & Howard L.L.C.

Employee Benefits Advisory: New Proposed 457 Regulations May Impact Deferred Compensation Arrangements Maintained by Tax-Exempt...

On June 21, 2016, concurrent with its issuance of proposed regulations under Code section 409A, the IRS also issued proposed regulations under Code section 457, which address deferred compensation arrangements covering...more

Pillsbury Winthrop Shaw Pittman LLP

Proposed Section 409A Regulations Facilitate Common Pay Practices

The Internal Revenue Service (IRS) has proposed a number of updates to current regulations governing nonqualified deferred compensation under Section 409A of the Internal Revenue Code of 1986, as amended. The proposed updates...more

Skadden, Arps, Slate, Meagher & Flom LLP

"New Rules Impact Compensation Arrangements of Governmental and Tax-Exempt Entities"

On June 22, 2016, the IRS published much-anticipated proposed regulations under Internal Revenue Code Section 457 impacting certain plans maintained by state or local governments or other tax-exempt organizations that provide...more

Stinson LLP

Is Your Severance Policy an ERISA Plan?

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Severance plans are generally covered under ERISA, but it is not always easy to distinguish an ERISA-covered severance plan from a non-ERISA severance policy. There are advantages and disadvantages to being an ERISA-covered...more

Williams Mullen

ERISA Case Highlights Importance of Written Releases at Termination of Employment: Sullivan v. Stanadyne Corporation

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A federal court has dismissed claims for enhanced retirement benefits in a case highlighting a participant’s written release of claims at the time of his employment termination. Sullivan v. Stanadyne Corporation, Case No....more

Stinson - Benefits Notes Blog

Are Top Hat Plans Entitled to a Discretionary Standard of Review?

Many years ago the Supreme Court decided that qualified retirement plans that gave their fiduciaries discretion to determine plan benefits were entitled to have their decisions, reviewed by a court under a generous “abuse of...more

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