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Read Finance & Banking Law updates, alerts, news, and legal analysis from leading lawyers and law firms:

Nordstrom is the latest large employer sued over their 401(k) plan

by Ary Rosenbaum on

The department store business model is selling items at high prices with the heavy end of season discounting. Now if only Nordstrom did the same with their nearly $3 billion 401(k) plan....more

Proposed Tax Reform Bills of Senate and House Now Aligned on Key Compensation and Benefits-Related Tax Provisions

This WSGR Alert provides a high-level comparison of the latest tax reform proposals from the U.S. House of Representatives and the U.S. Senate as they relate to compensation and benefits matters....more

Proposed tax legislation affecting private equity

by Dentons on

As you may be aware, on November 2 the House of Representatives introduced a comprehensive tax reform bill that could affect private equity sponsors, investors and portfolio companies. On November 9, the Senate Finance...more

Harvey Weinstein and You

by Ary Rosenbaum on

The news of late has had daily accusations against Hollywood executives and personalities concerning sexual abuse and harassment. What has happened with the beginning of allegations against Harvey Weinstein have mushroomed...more

2017 End of Year Plan Sponsor “To Do” List Qualified Retirement Plans (Part 4)

by Snell & Wilmer on

As 2017 comes to an end, we are pleased to present you with our traditional End of Year Plan Sponsor “To Do” Lists. This year, we are publishing our “To Do” Lists in four separate Employee Benefits Updates. Part 1 covered...more

District Court Case Highlights Advantages of ERISA Severance Plans

by Hogan Lovells on

Specialists have long touted certain significant advantages to employers that come along with maintaining ERISA severance plans, and a recent district court case highlights some of these advantages....more

Tax Reform And Accumulated Leave (Aka “Special Pay”) Plans

by Carlton Fields on

Provisions in the current proposed Senate tax reform bill would likely reduce the effectiveness of retirement plan arrangements that regularly receive contributions of unused leave for former employees, commonly known as...more

Puerto Rico Treasury Department Issues Post-Hurricane Rules for Qualified Retirement Plan and IRA Distributions and Loans

by Littler on

On November 15, 2017, the Puerto Rico Department of the Treasury (the "PR Treasury") issued Administrative Determination Number 17-29 ("AD 17-29") to provide special rules and procedures applicable to distributions from...more

Preparing for Tax Reform: The Current State of Play on Proposed Changes to Executive Compensation and Employee Benefits

On November 16, 2017, the House of Representatives voted to approve its version of the Tax Cuts and Jobs Act. The Senate is expected to vote on its version of the bill following the Thanksgiving break, which would require a...more

A Moving Target: Tax-Qualified Plans and Other Employee Benefits

The House and Senate propose changes to the tax rules governing retirement plans and other employee benefits. House passes the Tax Cuts and Jobs Act with substantive changes to the tax rules affecting retirement plans and...more

Stealing plan assets is easier than you think

by Ary Rosenbaum on

A third party administrator (TPA) and/or plan fiduciary stealing plans assets is easier than you think. The rumor that TPA Vantage Benefits stole $14 million from 6-7 of their clients shouldn’t be surprising to me because I...more

Plan Administrators’ 2017 Year-End Checklist

by Williams Mullen on

Plan administrators should review the following actions to be taken before the end of 2017 and focus on what to expect for 2018. The attached checklist addresses plan amendments, notices and other considerations for qualified...more

How 401(k) Plan Sponsors Can Avoid Turning Their Plan Into A Disaster

by Ary Rosenbaum on

I’m a movie fan especially a fan of movies from the 1970s. One genre of movies made famous during the 1970s was the disaster movie. The Poseidon Adventure, Airport, and The Towering Inferno led to a great successful genre...more

Advisors Advantage - November 2017

by Ary Rosenbaum on

The Bottom Line For Retirement Plan Providers. More plan assets for your clients is a good thing for many reasons. When I had the idea of starting a National ERISA practice 10 years ago, I knew I would have a tough time...more

Defence & Indemnity - October 2017: I. INSURANCE ISSUES A.

by Field Law on

I. INSURANCE ISSUES: A. Where an insured’s employee followed an email from a fraudster posing as a vendor to change the electronic payment instructions to an account controlled by the fraudster, coverage was denied under...more

Fourth Circuit Affirms Health Care Fraud Convictions for Billing Insurers for Medically Unnecessary Services

by Seyfarth Shaw LLP on

Seyfarth Synopsis: The Fourth Circuit found that the medical necessity of a given service constitutes a material element of representations regarding submissions for payment, potentially providing payors with another legal...more

IRS announces 2018 retirement plan limits

by Ary Rosenbaum on

As 2017 nears its end, we already have the retirement plan limits set for 2008 by the Internal Revenue Service (IRS). For 401(k) plans, the 2018 limit for salary deferrals contributions is $18,500, up $500 from 2017’s...more

Pension Alert - November 2017

by Hogan Lovells on

Hogan Lovells pension group is delighted to send you our September e-newsletter. Topics covered include, an update on VAT, PPF deadlines, pension liberation and Pension Ombudsman cases on increases to deferred pensions and...more

Puerto Rico Governor Signs Executive Order Authorizing Rules for Retirement Plan and IRA Distributions in the Wake of Recent...

by Littler on

On November 8, 2017, the Governor of Puerto Rico signed Executive Order No. 2017-067 (“EO 2017-067”) authorizing the Secretary of the Department of the Treasury (the “PR Treasury”) to establish tax rules for distributions...more

Employer Mandate Penalty Notices Are Imminent

by McDermott Will & Emery on

The IRS has taken actions indicating that employer mandate penalties under the ACA are about to be enforced. The recently updated Questions and Answers on Employer Shared Responsibility Provisions Under the Affordable Care...more

Partnering Perspectives - Fall 2017

With the US poised to decrease regulation and the outcome of Brexit unknown, multinational institutions face a great deal of unpredictability in the regulatory landscape. In this edition of Partnering Perspectives, we look at...more

Reducing your Pension Protection Fund (PPF) levy for 2018/19

by Hogan Lovells on

2018/19 is the first year of the Pension Protection Fund (PPF)'s third levy "triennium" under the new levy framework. Trustees who wish to reduce their pension scheme's risk-based levy by taking account of contingent...more

401K Not OK: ERISA Class Certified Under Rule 23(b)(1)(B)

by Carlton Fields on

A New York district court granted certification in an ERISA class action brought by employees of Deutsche Bank alleging the individual fiduciaries of the company’s retirement plan engaged in self-dealing and mismanagement of...more

It Looks Good On Paper For The 401(k) Plan Sponsor, But…

by Ary Rosenbaum on

Often there are things that look good on paper and don’t look good in practice like an Apple Newton or Incredible Universe. Those business bombs cost the businesses that pushed them out. For 401(k) plan sponsors, they can ill...more

Might the UBIT Bite a Bit? You Bet.

by Nossaman LLP on

The recent tax reform bill (Tax Cuts and Jobs Act, H.R. 1), which the House Ways and Means Committee introduced November 2, would subject public pension plans to unrelated business income tax (“UBIT”) on their pre-packaged...more

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