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Major Impact on Employee Benefits

The House GOP tax reform bill introduced Nov. 2, 2017, would have a major impact on employee benefits, including executive compensation, qualified retirement plans, fringe benefits and tax-exempt organizations. If adopted,...more

DOL Proposes 18-Month Fiduciary Rule Delay; Issues New Guidance

Last week, the Department of Labor (DOL) announced additional delays to major aspects of its fiduciary rule by proposing to extend certain transition period deadlines and applicability dates by 18 months. If finalized, full...more

Labor Department’s Fiduciary Rule Impacts Investment Managers

The fiduciary rule issued by the Department of Labor (DOL) is one of the major developments in employee benefits law in recent years. The rule aims to reduce and regulate conflicts of interest related to paid investment...more

DOL Asks Public for More Input on Fiduciary Rule and Exemptions

Last week, the Department of Labor (DOL) issued a request for information (RFI) in the form of 18 questions regarding its fiduciary rule and related prohibited transaction exemptions (PTEs). The RFI was issued approximately...more

No Delay of DOL Fiduciary Rule’s June 9 Applicability Date; Additional Guidance Issued

Earlier this week, Secretary of Labor Alexander Acosta indicated in a Wall Street Journal op-ed article that there will be no further delay as to the parts of the fiduciary rule issued by the Department of Labor (DOL) that...more

DOL Finalizes 60-Day Delay of Fiduciary Rule Applicability

On April 7, the Department of Labor (DOL) formally adopted its previously proposed 60-day delay of the applicability date of its fiduciary conflict-of-interest rule and related prohibited transaction exemptions (PTEs). The...more

DOL Issues Temporary Enforcement Policy for Fiduciary Rule

Last week, the Department of Labor (DOL) announced a temporary enforcement policy related to its recently proposed 60-day delay of the April 10, 2017 applicability date of its fiduciary conflict-of-interest rule and related...more

DOL Proposes 60-Day Delay of Applicability Date for Fiduciary Rule

On March 1, the Department of Labor (DOL) proposed a 60-day delay of the April 10, 2017 applicability date of its fiduciary conflict-of-interest rule and related prohibited transaction exemptions (PTEs). The delay was...more

ERISA Advisory Council Issues 2016 Report on Benefit Plan Cybersecurity

“Cyber threats cannot be eliminated but they can be managed. Cyber experts say that it is not a question of if you will have a cyber-attack, rather it is a question of when. The next question is what you are going to do about...more

Retirement Plans Incur Data Breaches; ERISA Council Addresses Cyber Risks

Until relatively recently, retirement plans have not made the news as targets of data breaches. This is somewhat surprising, given the wealth of participants’ personal data stored online by these plans. This past summer,...more

ISS Updates Pay-for-Performance Methodology: A Welcome Development

On Nov. 8, 2016, Institutional Shareholder Services (ISS) announced changes to its pay-for-performance methodology for U.S., Canadian and European companies broadening the financial measures that it will consider in its...more

DOL Issues First Wave of Fiduciary Rule Guidance

Last week, the U.S. Department of Labor (DOL) issued long-awaited guidance in the form of answers to 34 frequently asked questions (the FAQs) on its final rule (the Rule) for determining when a party is a fiduciary, by virtue...more

Can the ACA Employer Health-Insurance Mandate Be Avoided by Reducing Employees’ Hours? McGuireWoods Healthcare Reform Guide:...

This is the 56th in a series of WorkCite articles concerning the Patient Protection and Affordable Care Act and its companion statute, the Health Care and Education Reconciliation Act of 2010 (referred to collectively as the...more

SEC finalizes CEO Pay Ratio Rules

As noted in this McGuireWoods alert, the SEC recently finalized the CEO pay ratio disclosure requirements under Section 953(b) of the Dodd Frank Act. The biggest piece of news in connection with the final rules is the delayed...more

SEC Finalizes CEO Pay-Ratio Rule with Delayed Effective Date

On Aug. 5, 2015, the Securities and Exchange Commission (SEC) adopted a final rule implementing the CEO pay-ratio disclosure requirements of Section 953(b) of the Dodd-Frank Wall Street Reform and Consumer Protection Act....more

IRS Determination Letter Program for Qualified Retirement Plans to Be Significantly Curtailed

In Announcement 2015-19 (Announcement), the Internal Revenue Service (IRS) has indicated that it is eliminating the staggered five-year determination letter (DL) remedial amendment cycles for individually designed...more

SEC Proposes Broadened Executive Compensation “Clawback” Rules

On July 1, the SEC proposed rules requiring national security exchanges (such as NYSE and Nasdaq) to establish listing standards requiring publicly traded companies to adopt, comply with and disclose written clawback...more

SEC Proposes Clawback Rules

Yesterday, the SEC proposed the long-awaited executive compensation clawback rules under Section 954 of the Dodd Frank Act. Weighing in at over 100 pages, there is a lot to digest. This McGuireWoods client alert provides an...more

DOL Weighs in on Top Hat Plan Dispute

For years courts have struggled with defining what qualifies as a “top hat plan.” The stakes in these cases are often high, as top hat plans are exempt from most of ERISA’s substantive requirements, including from its funding...more

6/30/2015  /  DOL , ERISA

IRS Rules Retention Arrangement Violates 409A

In a Chief Counsel Memorandum issued last month, the IRS concluded that an executive retention arrangement violated Section 409A despite the employer’s efforts to correct the arrangement before the retention bonus vested....more

SEC Proposes “Pay-Versus-Performance” Disclosure Rules

On April 29, the Securities and Exchange Commission (SEC) proposed new “pay-versus-performance” disclosure rules to implement one of the last two remaining executive compensation requirements mandated by the Dodd-Frank Wall...more

Final 162(M) Rules Have A Surprise For Newly Public Companies

The final Section 162(m) regulations issued by the IRS last week have a small but welcome surprise for companies that have recently become public....more

Congressional Report Takes Aim At Nonqualified Deferred Compensation

A recent report from ranking member Sen. Ron Wyden and the Democratic staff on the Senate Finance Committee indicates that nonqualified deferred compensation plans continue to be in the crosshairs of potential tax reform...more

SEC Proposes Rules for Hedging Disclosure

The Securities and Exchange Commission (SEC) recently released proposed rules to implement Section 955 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank), which calls for disclosure of whether...more

ISS Equity Plan Scorecard – First Results In

According to ISS, Emerson Electric (the Fergusson, Mo. – based electrical equipment manufacturer) was the first U.S. company to which ISS applied its new Equity Plan Scorecard policy....more

2/10/2015  /  Annual Meeting , Equity Plans , Form 8-K , ISS
28 Results
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