Little known and therefore little used in Germany is the option of providing pension contributions instead of severance pay. If an employee has plans to retire early, or if a mutually agreed termination of the employment...more
LOS ANGELES — Proposition 22: California Gig Companies, Workers Get Their Day in Appeals Court- For more than a year, the California voter-approved gig economy law known as Proposition 22 has hung in the balance after a...more
As part of our ongoing partnership agreement series, in this article, we discuss how accounting firms can address retirement in firm partnership agreements. Note: References to “partnership agreements” in this article...more
The U.S. District Court for the District of Massachusetts recently diverged from other decisions interpreting the term “actuarial equivalent” in an Employee Retirement Income Security Act (ERISA) class action, finding that...more
Healthcare organizations across the United States are facing an unprecedented labor shortage. Many healthcare employers are moving quickly to implement creative solutions that will attract and retain a qualified workforce....more
On April 15, 2022, participants in the U.A. Plumbers & Steamfitters Local 22 Pension Fund filed a petition for panel and en banc rehearing of the Second Circuit’s ruling in favor of the pension plan’s decision to...more
Recently, we examined the wisdom and legality of mandating retirement for older workers. The gist of that analysis was “don’t do it” except in limited circumstances — and certainly don’t do it without talking to your legal...more
This month, Doximity issued its Fifth Annual 2021 Physician Compensation Report. With the continued strain of the pandemic spanning 2021, the self-reported physician data reflected widespread burnout and early retirement,...more
The District Court of Minnesota declined to certify a class of pensioners seeking to challenge their plan’s early retirement calculations. ERISA requires early retirement benefits to be actuarially equivalent to what...more
Back in 2019, we told you about Jennifer Freyd, a professor at the University of Oregon who had sued the school and two University officials for gender discrimination, claiming that although her own department chair...more
On 12 January, 2021, the First Chamber of the Dutch Parliament approved the bill on lump sum, early retirement and leave savings (Wet bedrag ineens, RVU verlofsparen). This Act will temporarily relax the tax restriction (RVU...more
On 1 January 2006, the tax advantage of the VUT and other early retirement programs in the Netherlands was abolished. Since then, the applicable pension scheme in place has been designed to offer employees a bridge payment...more
The Appellate Division recently published a decision, Amzler v. Amzler, making it precedent setting on the use of the new alimony statute in a case of a payor’s early retirement, where parties entered into an alimony...more
As they struggle to stay afloat during this time of crisis, many employers are looking for legal, humane ways to cut costs, including in payroll and benefits. This article summarizes the current state of Texas law on these...more
Ninth Circuit Affirms Decision Rejecting Suit Seeking Early Retirement Benefits - The U.S. Court of Appeals for the Ninth Circuit has affirmed a district court’s decision rejecting a plaintiff’s lawsuit seeking to overturn...more
In April 2019, the French Supreme Court opened the way for all workers exposed to asbestos to claim compensation for emotional distress, or "anxiety," caused by the fear of contracting a serious disease, even if claimants...more
The Third Circuit recently issued a significant opinion in Bryan v. Government of the Virgin Islands, Case No. 18-1941, 2019 WL 661822 (3rd Cir. February 19, 2019) holding that the Virgin Islands did not violate the Age...more
New Rules on the Retirement Fund Certificates - New Legislation Enacted - By Decree-Law no. 82/2018 of October 16, 2018, and effective November 1, 2018, employers may contribute to employees’ Retirement Fund...more
We’ve often written about the need to have clearly written policies that, once in place, are followed. If a dispute arises and there is any ambiguity in the policies and how the employer interpreted or used them, juries more...more
On June 22, 2016, the IRS finally issued the long-awaited proposed regulations under Internal Revenue Code (“Code”) Section 457. Code Section 457 applies to deferred compensation plans or arrangements of tax-exempt entities...more
The Tenth Circuit held that a pension plan consultant, who misstated the amount of monthly pension payments that a pension plan participant would receive in retirement, was not a fiduciary under ERISA. Plaintiffs Trent...more
Donkor v Royal Bank of Scotland UKEAT/0162/15 considered the appropriate comparator in direct age discrimination cases. Mr Donkor’s employer, the Royal Bank of Scotland (RBS), underwent a restructuring in 2012. As part...more
On September 25, the Central States Pension Fund (one of the largest multiemployer/union pension funds in the country) submitted to the U.S. Department of Treasury a proposed “rescue plan,” which would allow the fund to...more
For years, Pennsylvania courts have consistently denied unemployment compensation benefits to employees who accept early retirement incentive packages. Recently, however, the Pennsylvania Supreme Court overruled this...more
For more than 20 years, Pennsylvania retirees who accepted an early retirement incentive plan have been denied unemployment compensation benefits under the Unemployment Compensation Law (UC law). The Supreme Court of...more