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Retirement Plan Pensions Compensation & Benefits

Mayer Brown

The Pensions Brief - August 2024

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The Pensions Brief is a monthly update for trustees and employers of occupational pension schemes in the UK. It provides headline summaries of developments over the previous month and associated action points. It also...more

A&O Shearman

Pensions: DC trustee agenda update - September 2024

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

Mayer Brown

The Pensions Brief - July 2024

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ESG – compliance review findings - The Pensions Regulator (TPR) has published the findings from its review of how trustees are complying with their wider ESG duties. The review concludes that while 99% of trustees of...more

Holland & Knight LLP

La Reforma Pensional en Colombia

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En este episodio de "A Lo Legal En Par Minutos", nuestro socio Edwin Cortés habla con Diego Acevedo, socio de derecho laboral, sobre la reforma pensional en Colombia. Dicha reforma ha sido aprobada por el Senado y se debate...more

Littler

Illinois Federal Court Holds that a Pension Rehabilitation Plan Fund Used an Improper High-Contribution Rate in Withdrawal...

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On March 29, 2024, the U.S. District Court for the Northern District of Illinois issued its decision in Central States, Southeast and Southwest Areas Pension Fund v. Event Media, Inc. In a matter of first impression for...more

Patterson Belknap Webb & Tyler LLP

Does Your Retirement Plan Need a 'PLESA'?

Pension-Linked Emergency Savings Accounts (“PLESAs”) are a special retirement plan feature created under SECURE ACT 2.0. PLESAs were first permitted to be made available to participants as of January 1, 2024. PLESAs, which...more

Ius Laboris

The new UAE Pensions Law

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In October 2023, a new Pensions Law was published and came into effect in the UAE. The 2023 Pensions Law is the most significant change to the UAE pensions landscape since the 1999 Pensions Law was first published....more

Mayer Brown

TPR Report: Key Steps Trustees Should Take if a Cyber Security Incident Occurs

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The Pensions Regulator (TPR) has published a regulatory intervention report outlining how they worked with Capita following a cyber incident last year (see our legal update), and detailing the key steps trustees should take...more

Littler

Canada Entered Last Phase of CPP Enhancements on January 1, 2024

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All Canadian employers other than those in Quebec are required to: Deduct Canada Pension Plan (CPP) contributions from their employees’ pensionable earnings if the employee meets certain conditions; Contribute an...more

Cadwalader, Wickersham & Taft LLP

UK Government Taskforce to Produce Guidance for Pensions Sector to Consider Social Factors in Investment Decisions

On October 19, 2023, the UK government’s Taskforce on Social Factors (Taskforce) launched a consultation to produce guidance on how pension funds can consider social issues in their investment decisions. The guide is intended...more

Woodruff Sawyer

Q1 2023 International Benefits Update

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In the first quarter of 2023, many European countries continue to update their family leave entitlements. These include Bulgaria increasing maternity leave by two months, Spain launching menstrual leave, and Ireland launching...more

Proskauer - Employee Benefits & Executive...

Ninth Circuit Agrees with Third Circuit that “Highest Contribution Rate” for Withdrawal Liability Payment Calculations Excludes...

On January 31, 2022, the Ninth Circuit affirmed the lower court’s finding that surcharges imposed by the Pension Protection Act (“PPA”) are excluded from the determination of an employer’s “highest contribution rate” for...more

Littler

Second Circuit Finds No Successor Liability for ERISA Withdrawal Where Employer Did Not Acquire Unionized Facility or Employees

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On January 27, 2022, in New York State Teamsters Conference Pension and Retirement Fund v. C&S Wholesale Grocers, Inc., the Second Circuit joined the Third, Seventh, and Ninth Circuits in applying the doctrine of successor...more

Allen Matkins

Godot Is Still Waiting . . .

Allen Matkins on

Last month, the Securities and Exchange Commission announced that it was proposing a new rule under the Exchange Act.  In an accompanying "fact sheet", the SEC said that it was doing so "to increase transparency and...more

Morgan Lewis

Multiemployer Pension Plans (and Contributing Employers) Look to American Rescue Plan for Relief

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The American Rescue Plan Act 2021, signed into law by President Joseph Biden on March 11, 2021, provides for significant relief to the most troubled multiemployer pension plans. The extent to which such relief also extends to...more

Polsinelli

American Rescue Plan Brings $86 Billion in Relief to Failing Multiemployer Pension Plans

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The American Rescue Plan that was sent to President Biden’s desk on March 11, 2021 includes an $86 Billion aid package that provides financial assistance to underfunded multiemployer pension plans facing critical or declining...more

Littler

Congress Considers New Multiemployer Pension Reform

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Without congressional intervention, about 100 multiemployer pension plans are expected to become insolvent in the next 20 years, and some much sooner.  In other words, for these pension plans, their liabilities to retired...more

Franczek P.C.

Illinois Teachers' Retirement System Announces New Supplemental Savings Plan

Franczek P.C. on

Earlier last week, the Illinois Teachers’ Retirement System sent out forms and instructions for its new Supplemental Savings Plan. Essentially, the Plan is a program for the deferral of income taxes on a portion of the...more

Mintz - Employment Viewpoints

Overview of the Impact of the Consolidated Appropriations Act on Employee Benefit Plans, Programs and Arrangements

Recently enacted H.R. 133, the Consolidated Appropriations Act, 2021 (“the Act”), is a massive, 5,593-page piece of legislation that includes appropriations for the U.S. government for the upcoming fiscal year and funding for...more

Morgan Lewis - ML Benefits

Outlook for Multiemployer Pension Plan Reform in 2021

The ongoing effort to provide relief for troubled multiemployer pension plans took many twists and turns in 2020, and the year ended once again without an agreed-upon solution. Looking forward to 2021, the incoming Biden...more

Best Best & Krieger LLP

California Supreme Court Finds Modifications to CERL Constitutional, But Leaves “California Rule” Intact

Modifications Are Permissible Under the California Rule - In a unanimous decision, the California Supreme Court held that changes made to the County Employees’ Retirement Law, known as CERL, by pension reform measures...more

Nossaman LLP

The California Supreme Court Addresses the California Rule and Public Retirement System Governance

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In a landmark decision of a unanimous court, on July 30, 2020, the California Supreme Court issued its second case in two years on the scope of the “California Rule,” Alameda County Deputy Sheriff’s Assoc. et al., v. Alameda...more

Allen Matkins

The Cost Of Justice In Nevada

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In February, I penned this post about some of Nevada's historic rural courthouses.  Recently, I visited Goldfield, Nevada.  Although Goldfield is the county seat of Esmeralda County, it has no gas station and no supermarket. ...more

King & Spalding

Compensation and Benefits Insights – April 2020

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On November 22, 2019, the U.S. Court of Appeals for the First Circuit (the “First Circuit”) reversed the 2016 decision of the U.S. District Court for the District of Massachusetts (the “District Court”) in Sun Capital...more

Nossaman LLP

California Supreme Court Announces Date for Oral Argument in Alameda Public Retirement Case

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On April 15, 2020, the California Supreme Court scheduled oral argument in the much-anticipated California Supreme Court public retirement case, Alameda County Deputy Sheriff's Association, et al. v. Alameda County Employees'...more

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