On Monday, April 10, President Biden signed a congressional resolution immediately ending the COVID-19 National Emergency and he had previously announced that the COVID-19 Public Health Emergency (PHE) will expire on May 11....more
The Department of Labor (DOL) on Dec. 1, 2022, finalized regulations titled “Prudence and Loyalty in Selecting Plan Investments and Exercising Shareholder Rights” (the 2022 Rule) that provide greater flexibility to retirement...more
On Oct. 26, the SEC adopted a final rule addressing the obligations of listed issuers or “companies” to recover incentive-based compensation paid to executive officers prior to an accounting restatement. The final rule will...more
On Aug. 25, 2022, the Securities and Exchange Commission (SEC) adopted a new rule requiring public companies (subject to some notable exceptions, described below) to disclose, in proxy statements and information statements...more
On Oct. 13, 2021, the U.S. Department of Labor (DOL) proposed amendments to its regulations (the Proposed Rule) that enhance the ability of employee benefit plan fiduciaries to consider climate change and other environmental,...more
The U.S. Supreme Court (in Thole v. U.S. Bank N.A., available here) recently held that participants in a defined benefit pension plan who have been paid all their monthly pension benefits to date lack standing to sue for...more
6/18/2020
/ Article III ,
Breach of Duty ,
Defined Benefit Plans ,
Duty of Loyalty ,
Duty of Prudence ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Fiduciary Duty ,
Injury-in-Fact ,
Investment Adviser ,
Mismanagement ,
Pensions ,
Plan Participants ,
Retirement Plan ,
SCOTUS ,
Standing ,
Thole v U.S. Bank
The Supreme Court in Intel Corporation Investment Policy Committee et al. v. Sulyma, case No. 18–1116, significantly narrowed the circumstances in which a three-year statute of limitations would apply to a claim for breach of...more
3/4/2020
/ Actual or Constructive Knowledge ,
Appeals ,
Breach of Duty ,
Employee Retirement Income Security Act (ERISA) ,
Fiduciary Duty ,
Intel Corp. Investment Policy Committee v. Sulyma ,
Material Disclosures ,
Question of Fact ,
Reaffirmation ,
Retirement Plan ,
Retirement Plan Beneficiaries ,
Reversal ,
SCOTUS ,
Split of Authority ,
Statute of Limitations ,
Summary Judgment
The Internal Revenue Service (IRS), in a recently released memorandum from the Office of Chief Counsel (Chief Counsel Memorandum), has taken the position that the Employer Shared Responsibility Payment (ESRP) imposed by...more
2/28/2020
/ Affordable Care Act ,
Employee Benefits ,
Employer Mandates ,
Failure to Comply ,
Form 1094 ,
Form 1095 ,
Health Insurance ,
Healthcare Reform ,
Individual Mandate ,
Internal Revenue Code (IRC) ,
Reporting Requirements ,
Required Forms ,
Statute of Limitations ,
Tax Penalties ,
Tax Planning
The Tax Cuts and Jobs Act of 2017 (TCJA) made significant changes to Section 162(m) of the Internal Revenue Code (Section 162(m)), expanding the scope of individuals and entities subject to Section 162(m), in addition to...more
12/24/2019
/ Comment Period ,
Compensation & Benefits ,
Corporate Taxes ,
Covered Employees ,
Debt Securities ,
Employee Benefits ,
Executive Compensation ,
Foreign Private Issuers ,
Grandfathering Rules ,
Income Taxes ,
IRS ,
Proposed Regulation ,
Public Hearing ,
Publicly-Traded Companies ,
Regulatory Requirements ,
Remuneration ,
Rulemaking Process ,
Section 12 ,
Section 162(m) ,
Securities Exchange Act ,
Tax Cuts and Jobs Act ,
Tax Deductions ,
Tax Planning ,
Tax Rates ,
Tax Reform ,
Trump Administration ,
Wage Deductions