News & Analysis as of

Early Retirement

Littler

Germany: Optimizing Severance Pay to Finance Early Retirement

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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

Cozen O'Connor

Cozen Cities - December 21, 2022

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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

Levenfeld Pearlstein, LLC

How to Handle Retirement Provisions in Accounting Firm Partnership Agreements

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

Carlton Fields

Must ERISA Actuarial Equivalence Be “Reasonable”?

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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

Jackson Lewis P.C.

Key Legal Considerations for Hiring and Retention Incentives in Healthcare

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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

Jackson Lewis P.C.

Rehearing Requested on Second Circuit Decision Requiring Plan Participants to End Employment Before Seeking Retirement Benefits

Jackson Lewis P.C. on

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

Foley & Lardner LLP

Considering an Early Retirement Program? Make Sure You Plan Ahead

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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

Jackson Lewis P.C.

Study Demonstrates Earlier Physician Retirement Overall and Increased Pay Equity Concerns for Female Doctors During the Pandemic

Jackson Lewis P.C. on

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

Jackson Lewis P.C.

U.S. Bancorp Defeats Class Certification In Challenge To Early Retirement Benefits

Jackson Lewis P.C. on

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

Bowditch & Dewey

Permission to Retire: Can Active Litigation Prevent Admission to Life 2.0?

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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

Hogan Lovells

Early retirement for older employees made more flexible for tax purposes as of 1 January, 2021

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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

Littler

Dutch Legislation Would Widen the Scope of Who Qualifies for Early Retirement

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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

Fox Rothschild LLP

Appellate Division Clears Up The Alimony Statute Application For Early Retirement In Pre-Amendment Cases

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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

Littler

Between a Rock and a Hard Place: Options for Texas Employers in the Face of COVID-19

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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

Rivkin Radler LLP

Employee Benefit Plan Review – From the Courts

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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

Jones Day

Anxiety From Asbestos Exposure: French Compensation Model Extended to Other Toxic Substances - The French Supreme Court (Cour de...

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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

Proskauer - Law and the Workplace

The Third Circuit Finds No Age Discrimination Related to Virgin Islands Law That Encouraged Long-Tenured Employees to Retire

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

Littler

Littler Global Guide - Portugal - Q4 2018

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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

Burr & Forman

Think your evidence is solid? Jury, judge, and appeals court may disagree

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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

Bracewell LLP

The Proposed Code Section 457 Regulations Have Arrived

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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

Proskauer - Employee Benefits & Executive...

Pension Consultant Found Not to be an ERISA Fiduciary

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

Faegre Drinker Biddle & Reath LLP

Comparators in Age Discrimination

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

Franczek P.C.

Central States Pension Fund Submits ‘Rescue Plan’ Seeking Approval to Reduce Benefits

Franczek P.C. on

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

McNees Wallace & Nurick LLC

Unemployment Compensation Case Update: Employees Who Accept Voluntary Early Retirement Incentive Offers Are Eligible For Benefits

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

Cozen O'Connor

Early Retirees May Receive Unemployment Compensation, Pennsylvania Supreme Court Rules

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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

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