Retirement

News & Analysis as of

North Carolina Legislative Report

Lawmakers returned to Raleigh for the Regular Session April 25, 2016. The MVA Public Affairs Legislative Report on North Carolina will be distributed weekly during session to keep you up to date on the latest legislative...more

Financial Crimes Enforcement Network Director to Step Down

Jennifer Shasky Calvery announced that she will step down as Director of the US Treasury Department’s Financial Crimes Enforcement Network at the end of May. She has served as FinCEN Director since September 2012. FinCEN has...more

Avoiding Pitfalls When Forced to Start Breaking Your Retirement Piggy Bank

The oldest of the 75 million baby boomers have begun turning 70 in 2016. Becoming a septuagenarian is a milestone in itself, but it also means that soon the IRS will likely be expecting you to start cashing out your...more

Burr Alert: Is Tennessee "Retiring" Its Hall Income Tax?

Tennessee has long been known as a retirement friendly state and usually ranks in the Top 10 of any list identifying the best places in the U.S. for retirement. That reputation is about to be enhanced as Tennessee's...more

District Court Rules Johnson Controls Retirees Not Entitled to Lifetime Health Benefits

A district court in the Middle District of Pennsylvania held that, notwithstanding the Supreme Court’s decision in M & G Polymers USA, LLC v. Tackett, 135 S. Ct. 926 (2015), the Third Circuit’s rule that clear and express...more

Blog: Scrutiny Of Director Tenure Continues: Is It The Next Cause Célèbre?

The scrutiny of pale, stale and male boards continues, this time focused on the “stale,” that is, long-tenured directors. According to the WSJ, institutional investors are increasingly questioning whether more turnover on...more

Heard at the 2016 SIFMA Conference

Recently, attorneys from K&L Gates’ Government Enforcement practice group attended the Securities Industry and Financial Markets Association’s (“SIFMA”) Compliance and Legal Society Annual Seminar. We wanted to share with you...more

Higher Education Highlights - Spring 2016

Upcoming changes to the Fair Labor Standards Act salary-basis test may convert many of your smartphone-toting exempt employees into non-exempt employees, requiring you to track the evening and weekend time these employees...more

Alimony Termination Upon a Payor’s Retirement

Alimony payors who plan to retire have standing to seek a termination of their alimony obligation. Under the 2014 amendments to the alimony statute, a court uses one of three standards in deciding such an application to...more

Thomas Baxter to Retire from the New York Fed

Thomas C. Baxter, general counsel and executive vice president of the Federal Reserve Bank of New York, announced his decision to retire from the New York Fed in September, 2016, after 36 years of service. Mr. Baxter also...more

Illinois Supreme Court Strikes Down City of Chicago Pension Reform Legislation

Late last week, in Jones et al v. Municipal Employees’ Annuity and Benefit Fund of Chicago et al (“Jones”), the Illinois Supreme Court struck down Public Act 98-641, which aimed to shore up two ailing Chicago pension funds. ...more

Director of Research at the Federal Reserve Bank of New York Announces Retirement

James J. McAndrews, executive vice president of the Research and Statistics Group and Director of Research of the Federal Reserve Bank of New York, announced that he will be retiring from the FRBNY in June after 28 years at...more

Sixth Circuit Issues Different Opinions on Retiree Medical Coverage After Tackett

For 33 years, unionized employers in the Sixth Circuit had to deal with the holding and, worse still, the application of the decision in UAW v. Yard-Man, Inc., 716 F.2d 1476 (6th Cir. 1983), which created what it called an...more

Last Chance to Use File and Suspend Strategy for Claiming Social Security Benefits

Time is running out to use a potentially very lucrative Social Security benefits-claiming strategy. Spouses will no longer be able to use the "file and suspend" strategy after April 29, 2016. Beware, however, that the new...more

How Likely Are You to Need Long-Term Care?

Planning for retirement and deciding whether to buy long-term care insurance would be a lot easier if you knew your odds of needing long-term care, as well as at what age and for how long. Unfortunately, there's no definite...more

Minnesota Legislative Update: 2016 Legislative Session Preview 02/2016

The second year of the 89th Session of the Minnesota Legislature convenes on March 8, 2016. This year’s session is unusually late and will last an atypically short 11 weeks. The February Forecast released today projects...more

Employee Benefits: Maximize Your Social Security Benefits (2/16)

The Social Security old age system is a simple concept with some very complex rules. It is a near-universal arrangement, covering working Americans and their families, which provides retirement benefits for life. The basic...more

Court Reporters, Videographers – Financial Literacy 101

A few weeks ago, while chatting with Bronwen Drummond, a financial advisor, and it hit me hard that court reporters and videographers, independent contractors, need to have a financial plan to protect their future and...more

Tax-efficient Pension Savings in the UK: Government Applies Further Restrictions

Employers may want to adjust compensation packages, and high-earners may want to revise their retirement savings strategies. In recent years, the UK government has reduced the lifetime and annual thresholds up to which...more

SEC 2016 Examination Priorities Focus on Retail Investors, Market-wide Risks and Data Analytics

The Office of Compliance Inspections and Examinations (OCIE) of the U.S. Securities and Exchange Commission (SEC) on January 11, 2016 announced its examination priorities for this year, which “address issues across a variety...more

IRS Issues Proposed Regulations Regarding Applicability of Normal Retirement Age to Governmental Pension Plans

In a change that would impact government employers with retirement plans, the IRS has proposed a rule to address whether the normal retirement age under a governmental plan satisfies the requirements to preserve...more

Sixth Circuit Rules That Employees Are Not Entitled to Vested Health Benefits

In a ruling that follows the Supreme Court’s repudiation in M&G Polymers USA v. Tackett of the retiree-friendly inferences set forth in UAW v. Yard-Man, the United States Court of Appeals for the Sixth Circuit ruled in Gallo...more

Minnesota Legislature Gears Up for March 8 Start

Retirements, an election year and economic forecasts will shape legislative session - Anticipation is growing for the March 8 start to the 2016 legislative session. This year there is an election looming and all 201...more

Your daily dose of financial news The Brief – 2.9.16

Think you need to be in commodities or emerging markets to send ripples of fear through the markets these days? Well how about one of the world’s biggest banks. Because markets aren’t so hot on them right now, either –...more

CFPB issues guide on pension payouts

The CFPB has issued a guide that is intended to assist near-retirees with private sector payment plans in deciding whether to choose monthly payments or a lump-sum payout. The guide includes a series of questions for...more

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