News & Analysis as of

Pensions

Gov. Brown’s Executive Order Suspends Certain Retired Annuitant Employment Requirements - Modifications Needed for Disaster...

by Best Best & Krieger LLP on

To ensure adequate staffing levels while responding to recent natural disasters in California, the California Public Employees’ Retirement System has modified the 960-hour limitation related to retired annuitants employed in...more

CalPERS Employers are Now Subject to Two New Penalties - New Laws Change Out-of-Class Appointments Requirements and Impose New...

by Best Best & Krieger LLP on

Two new California laws could result in costly fines to public agency employers who fail to adhere to the specified requirements. Assembly Bills 1487 and 1309 both went into effect Jan. 1....more

Congress Again Attempts To Address Multiemployer Plan Crisis In Bipartisan Budget Act

by Jackson Lewis P.C. on

Under the Employee Retirement Income Security Act (“ERISA”), as amended by the Multiemployer Pension Plan Amendments Act (“MPPAA”), an employer that has assumed an obligation to contribute to collectively-bargained and...more

An Annual Retirement Plan “Check-Up” May be Just What the Doctor Ordered!

by Foley & Lardner LLP on

February is Heart Health Month, which always reminds me to schedule my annual doctor checkup. This got me thinking that the need for ongoing “checkups” and maintenance applies not just to our health, but to our homes, cars,...more

Defined Contribution Plans in the US and the UK: Lessons From Across the Pond

Eversheds Sutherland is pleased to announce that it has published a paper—“DC Plans in the US and the UK: Lessons From Across the Pond”—which addresses the differences between defined contribution (DC) plans in the US and the...more

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...more

Congress Establishes New Committee to Solve Multiemployer Pension Plan Crisis

With President Trump signing into law the Bipartisan Budget Act of 2018 this past Friday, Congress established a new bipartisan, bicameral committee with the express goal of improving “the solvency of multiemployer pension...more

Recovering Administrative Claims in Chapter 9 Bankruptcy and Title III of PROMESA

Municipal bankruptcies under Chapter 9 of the Bankruptcy Code, 11 U.S.C. §§ 901-946 (Chapter 9), are rare. These cases are often filed to adjust bonded indebtedness and pension obligations. Congressional authorization for...more

The Year in Bankruptcy: 2017

by Jones Day on

The initial year of the Trump administration colored much of the political, business, and financial headlines of 2017, both in the U.S. and abroad. Key administration-related developments in 2017 included U.S. withdrawal from...more

Pension Alert - February 2018

by Hogan Lovells on

Featured is a reminder regading action needed on legacy protected rights rules and new briefings on New offences under the Criminal Finances Act 2017; Reducing your PPF levy; VAT and pension schemes; and an updated briefing...more

PBGC Expands Missing Participants Program to Include Terminating Defined Contribution Plans

by Hodgson Russ LLP on

The Pension Benefit Guaranty Corporation (PBGC) has expanded its missing participants program to cover terminating defined contribution plans (including 401(k) plans). The expanded program is voluntary and will be available...more

New offences under the Criminal Finances Act 2017: are corporate pension trustees at risk?

by Hogan Lovells on

The Criminal Finances Act 2017 creates two new offences concerning tax evasion, potentially relevant to pension scheme corporate trustees (but not individual trustees). Corporate pension trustees should consider whether they...more

HMRC's Online Register of Trusts: Why You May Need to Take Action Now

by Womble Bond Dickinson on

If you are the trustee of a non-UK trust which has UK assets or UK sources of income, you need to take action before 5 March 2018 or face potential civil and even criminal penalties. The EU's Fourth Anti-Money Laundering...more

Joint DB and DC trustee agenda update: current legal issues

by Allen & Overy LLP on

Welcome to our monthly update on current legal issues for trustees of DB and hybrid pension schemes, designed to help you stay up-to-date with key developments between trustee meetings, and to support the legal update item on...more

DOL Announcement– Disability Benefit Claims Procedures Become Effective April 1, 2018

by Sherman & Howard L.L.C. on

The Department of Labor (“DOL”) recently announced that April 1, 2018 would be the effective date for employee benefit plans to comply with the final rule under the Employee Retirement Income Security Act (“ERISA”) concerning...more

Pensions Ombudsman Round-Up December 2017 (UK)

by DLA Piper on

Welcome to the latest edition of DLA Piper’s Pensions Round-Up newsletter in which we provide an overview of developments in pension legislation and regulatory guidance. In this edition we look at key developments from...more

Littler Global Guide - Germany - Q4 2017

by Littler on

Strengthening of Company Pension - Only around 60% of employees in Germany have a company pension plan, which they use to provide for retirement in addition to the statutory pension. This is set to change from January 1,...more

Financial Markets Disputes and Regulatory Update - January 2018 - Regulatory developments

by Dentons on

Senior managers regime, certification regime and conduct rules (SMCR) - Individual Accountability: Extending the Senior Managers & Certification Regime to all FCA firms, and extending the SMCR to Insurers - Consultation...more

Seventh Circuit Says: Clear Error Standard Applies To Court Review Of Withdrawal Liability Arbitrator’s CBA Interpretation

by Seyfarth Shaw LLP on

Seyfarth Synopsis: The Seventh Circuit has now applied a clear error standard of review to a withdrawal liability arbitrator’s interpretation of a collective bargaining agreement, thus enhancing the role of the arbitrator in...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

More trouble for the embattled British PM Theresa May. We learned yesterday that Britain’s second-largest construction firm—Carillion—was forced into liquidation after amassing a staggering $1.35 billion in debt. The downfall...more

Ontario Pension Funding Reform and Administrator Discharge upon Annuity Purchase

On December 14, 2017, the Ontario government posted descriptions of two proposed regulations to the Ontario Pension Benefits Act (PBA) regarding the funding rules for defined benefit pension plans and the availability of an...more

Amended SPPA Regulation Comes into Force, Filling a Gap in Quebec’s Supplemental Pension Plan Framework

On January 4, 2018, the Regulation to amend the Regulation respecting supplemental pension plans came into force, filling a regulatory void in Quebec’s supplemental pension plans framework that lasted just over two years....more

Pensions Round-Up November 2017

by DLA Piper on

Welcome to the latest edition of Pensions Round-Up which provides an overview of developments in pension legislation and regulatory guidance. In this edition we look at key developments from November 2017 including the...more

Military Pensions Also Being “Reformed” For The First Time In 70 Years

by Fox Rothschild LLP on

The recent changes in tax laws have grabbed the headlines but employees of the four branches of the military and the Coast Guard will become part of a new “blended” retirement system passed by Congress in 2016, but effective...more

Pensions Ombudsman Round-Up December 2017 (UK)

by DLA Piper on

Welcome to DLA Piper’s Pensions Ombudsman Round-Up publication in which we report on recent determinations made by the Pensions Ombudsman (“PO”) and Deputy Pensions Ombudsman (“DPO”). In this edition we look at a selection...more

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