Businesses large and small have been affected by the coronavirus crisis. It seems that no industry has been spared economic hardship. As many states prepare to reopen their economies, there are some businesses that will not...more
On April 17, 2020, the Alabama Small Business Commission Emergency Task Force and the Subcommittee to Reopen the Economy released Reopen Alabama Responsibly, a detailed report and series of recommendations on resuming...more
This is an update to our article, Back to School for ERISA Fiduciary Claims: How to Prepare for This Trend in University Litigation, which was published on August 22, 2017.
As we discussed previously, over the past couple...more
2/8/2019
/ Breach of Duty ,
Class Action ,
Colleges ,
Educational Institutions ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Fees ,
Fiduciary Duty ,
Investment Management ,
Retirement Plan ,
Universities
In January 2019, the Internal Revenue Service (IRS) issued Notice 2019-09, which provides interim guidance for Section 4960 of the Internal Revenue Code of 1986. As a reminder, Section 4960 imposes an excise tax of 21 percent...more
2/6/2019
/ Colleges ,
Congressional Committees ,
Covered Employees ,
Excise Tax ,
Executive Compensation ,
Golden Parachutes ,
Interim Guidance ,
Internal Revenue Code (IRC) ,
IRS ,
Tax Cuts and Jobs Act ,
Universities
Section 4960 of the Internal Revenue Code of 1986 (IRC), as amended, imposes an excise tax on compensation of certain highly compensated employees of tax-exempt organizations. In an apparent attempt to level the playing field...more
Recent statistics show that approximately 70 percent of college graduates will leave college with an average of at least $30,000 in student loan debt. Cumulatively, the national student loan debt is approximately $1.5...more
The enactment of the Tax Cuts and Jobs Act of 2017 has raised a number of potential issues for institutions of higher education. Due to this significant impact, institutions need to study the Tax Act and plan appropriately....more
On November 2, 2017, U.S. Representative Mimi Walters (R-CA) introduced the Workflex in the 21st Century Act, a bill that would amend the Employee Retirement Income Security Act of 1974 (ERISA). The legislation would allow...more
While many were hoping that the Affordable Care Act (ACA) would finally be dead by now, and others are lamenting the fact that the “repeal-and-replace” attempts have fallen by the wayside, we thought it may be worthwhile to...more
In the past 10 years, there have been an increasing number of lawsuits asserting Employee Retirement Income Security Act of 1974 (ERISA) fiduciary claims. These have been accompanied by an increased focus by the Department of...more