Proskauer - Employee Benefits & Executive Compensation Blog

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Firm Profile: Proskauer Rose LLP
Eleven Times Square
(Eighth Avenue & 41st Street)
New York, NY 10036-8299, United States
Phone: 212.969.3000
Fax: 212.969.2900
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Tackett Redux: Ordinary Principles of Contract Interpretation Mean No Inference of Vesting

In an opinion released yesterday, the Supreme Court reaffirmed that collective bargaining agreements (CBAs) must be interpreted according to “ordinary principles of contract law.” CNH Industrial N.V. v. Reese, No. 17-515, 2018…more
 /  Civil Procedure, Labor & Employment Law

The Bipartisan Budget Act’s Impact on Retirement Plans

On Friday, February 9, 2018, Congress passed, and the President signed, the Bipartisan Budget Act of 2018 (the “Budget Act”). The Budget Act contains a number of provisions that affect qualified retirement plans. Plan sponsors…more
 /  Elections & Politics, Environmental Law, Finance & Banking, Taxation

Congress Delays the “Cadillac Tax” and Other ACA-Related Taxes and Fees

On January 22, 2018 Congress passed (and the President signed) the Federal Register Printing Savings Act (the “Act”), which temporarily (until February 8, 2018) continued funding federal government activity and appropriates…more
 /  Elections & Politics, Health, Taxation

Annual IRS Revenue Procedure Includes Surprising Change to User Fees

On January 2, 2018, the IRS published its annual bulletin that updates procedures for requesting rulings, determinations, and other guidance from the IRS. As in past years, the bulletin includes new user fees for determination…more
 /  Finance & Banking, Labor & Employment Law, Taxation

IRS Once Again Extends Distribution (Not Filing) Deadline for ACA Reporting and Continues Good Faith Standard

Following the old “better late than never” axiom, the IRS recently announced (see Notice 2018-06) that once again it would be extending the distribution (but not filing) deadline for the Affordable Care Act (ACA) reporting…more
 /  Labor & Employment Law, Taxation

Plaintiffs Lack Standing to Bring ERISA Fee Litigation Case

A federal district court in Georgia dismissed claims by participants in Delta Air Lines, Inc.’s 401(k) plan who alleged that Delta breached its ERISA fiduciary duties by allowing the plan to invest in funds that allegedly…more
 /  Business Torts, Civil Procedure, Constitutional Law, Finance & Banking, Labor & Employment Law

Fifth Circuit Borrows One-Year Statute of Limitations for Section 502(c)(1) Claim

The Fifth Circuit held that the statute of limitations for an ERISA § 502(c)(1) claim—a claim for penalties for failure to provide certain documents within thirty days of a written request—was subject to a one-year statute of…more
 /  Civil Procedure, Finance & Banking

Department of Labor Finalizes 90 Day Delay on New Disability Claims Procedures

On November 24, 2017, the Department of Labor (“DOL”) released regulations finalizing a 90-day delay on the application of new claims procedures for disability claims. The Obama-era regulations providing for the new claims…more
 /  Labor & Employment Law

Department of Labor Finalizes 18-Month Delay of Fiduciary Rule Exemptions

On November 27, 2017, the Department of Labor (“DOL”) finalized the delay of the applicability date for certain conditions for exemptions to the fiduciary rule until July 1, 2019. This delay was initially proposed in late…more
 /  Elections & Politics, Labor & Employment Law, Finance & Banking, Business Torts, Securities Law

ACA Employer Mandate Assessments Coming

Within the past few weeks, IRS officials have informally indicated that the IRS would begin assessing tax penalties under the Affordable Care Act’s (ACA) employer shared responsibility. The IRS has now updated its Questions and…more
 /  Health, Labor & Employment Law, Taxation

District Court Applies Texas Ban on Discretionary Clauses in Insurance Contracts

A federal district court in Louisiana upheld a Texas state law prohibiting insurers from granting themselves discretion to interpret benefit plans when deciding benefit claims. These so-called “discretionary clauses” are…more
 /  Insurance, Labor & Employment Law

Ninth Circuit Considers Pre-Appeal Conduct in Plan’s Request for Appellate Attorney’s Fees

The Ninth Circuit ruled that a district court erred by failing to consider the entire course of the litigation when analyzing a request for attorney’s fees under ERISA and remanded the case for a calculation of fees. A plan…more
 /  Civil Remedies, Insurance, Labor & Employment Law

Tax Reform Contemplates Changes to Employee Benefits

The House Committee on Ways and Means publicly released a working draft of the Tax Cuts and Jobs Act for the first time on Thursday. In the weeks leading up to the release of the draft, speculation has swirled as to whether it…more
 /  Elections & Politics, Finance & Banking, Labor & Employment Law, Taxation

ERISA’s Six-Year Statute of Repose for Fiduciary-Breach Claims Can Be Tolled

The Eleventh Circuit ruled that ERISA’s six-year statute of repose can be tolled by the parties even though it is a statute of repose. During pre-litigation negotiations between the U.S. Department of Labor and a trustee of an…more
 /  Business Torts, Civil Procedure, Finance & Banking, Labor & Employment Law, Securities Law

No Standing To Pursue Fiduciary-Breach Claim Where Plan Became Overfunded During Litigation

The Eighth Circuit held that defined benefit pension plan participants who alleged breach of fiduciary duty and prohibited transaction claims under ERISA lacked standing to assert their claims because, during the course of the…more
 /  Civil Procedure, Commercial Law & Contracts, Finance & Banking, Labor & Employment Law
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