News & Analysis as of

Retirement Employee Benefits

Pensions in Dispute - November 2017

by Allen & Overy LLP on

Higher compensation awards for repeated instances of maladministration - In a recent High Court appeal from a Pension Ombudsman determination, the judge awarded the claimant £2,750 for distress and inconvenience. The...more

Reducing your Pension Protection Fund (PPF) levy for 2018/19

by Hogan Lovells on

2018/19 is the first year of the Pension Protection Fund (PPF)'s third levy "triennium" under the new levy framework. Trustees who wish to reduce their pension scheme's risk-based levy by taking account of contingent...more

House Tax Bill Would Fundamentally Change Executive Compensation and Employee Benefit Practices

by Morrison & Foerster LLP on

On November 2, 2017, the House Ways and Means Committee unveiled the Tax Cuts and Jobs Act (the “Bill”), which, if enacted, could dramatically impact certain aspects of executive compensation and employee benefit issues. The...more

An Overview of Legal, Regulatory and Plan Design Considerations for States

by K&L Gates LLP on

Americans are facing a retirement crisis. The foundation for building a secure retirement — Social Security, employer-provided pensions, and personal savings — has been weakened because most private sector companies no longer...more

Third Circuit Rules That Johnson Controls Did Not Promise Lifetime Health Benefits

The Third Circuit rejected a claim for lifetime health insurance benefits filed by retired employees of Johnson Controls, finding that the clear and unambiguous language of the CBAs and group insurance booklets did not...more

OregonSaves: New State-Run Retirement Plan Requires Employer Action Beginning November 15, 2017

by Davis Wright Tremaine LLP on

Are you an employer with employees in Oregon? If you do not offer a retirement plan to any of your employees, read on for your obligations under a new state-run retirement savings program called OregonSaves. If you do...more

Sixth Circuit Issues Trilogy on Retiree Health Benefits

In three decisions issued on the same day, the Sixth Circuit held that Meritor retirees were not entitled to lifetime health benefits, while retirees at Kelsey-Hayes and CNH Industries were entitled to contractually vested...more

The Official Delay of the Fiduciary Rule: A Compromise

by Snell & Wilmer on

On April 7, 2017, the DOL published a final rule, officially delaying the applicability of the Fiduciary Rule for 60 days, until June 9, 2017....more

DOL Issues Final Rule Delaying Fiduciary Rule until June 9, 2017

by Robinson & Cole LLP on

As ordered by President Trump in a presidential memorandum on February 3, 2017, (Memorandum), the U.S. Department of Labor (DOL) proposed a 60-day delay to its conflict of interest rule (commonly referred to as the “fiduciary...more

Are Employers Required to Make Contributions to Union Pension Fund for “Bonus” Payments?

by Farrell Fritz, P.C. on

Hammering Nails Construction has a CBA (collective bargaining agreement) with Local 1 of the United Brotherhood of Widgetmakers (“Union”). After a pension fund audit, Hammering Nails received a letter claiming it owed...more

Deadline for Plan Sponsors to Submit Qualification Amendments with the Puerto Rico Treasury is Fast Approaching

by Littler on

Employers that sponsor an employee retirement plan in Puerto Rico must review plan amendments and/or restatements adopted during 2016 to determine whether they need to submit their plan documents to the Puerto Rico Department...more

Tennessee Highway Patrol K-9 Officers May Receive Health Care Benefits

The Senate approved legislation this week allowing retirement health care benefits for Tennessee Highway Patrol K-9 officers. SB1286 / HB1353, sponsored by Sen. Rusty Crow and Rep. John Holsclaw, requires the Tennessee...more

Working During Later Years? Is It For Everyone?

No; of course not. Some people choose to continue to work full-time after reaching what many would consider retirement age, such as 65. And more than a few people have to work. But others look forward to the absence of daily...more

Retirement is a Stage of Life, and Not the End-Stage

There is so much being written about retirement these days, in large part because of the bulge of baby boomers now reaching and past retirement. My experience has been that many people fear retirement, because they think it's...more

DOL to Delay Fiduciary Rule

On March 1, 2017, the Department of Labor (“DOL”) issued a proposed rule (“Proposed Rule”) that would impose a 60-day delay of the applicability date of the controversial “fiduciary rule,” which was set forth in final...more

Court Allows Retired President to Pursue Claim of Contract for Lifetime Pay and Benefits Against University

by Bowditch & Dewey on

On February 7, 2017, the U.S. District Court for the Eastern District of Kentucky ordered that the former President of the University of the Cumberlands, Dr. James Taylor, may proceed on his claims that the University failed...more

Annual Report on EEOC Developments – Fiscal Year 2016

by Littler on

This Annual Report on EEOC Developments—Fiscal Year 2016 (hereafter “Report”), our sixth annual Report, is designed as a comprehensive guide to significant EEOC developments over the past fiscal year. The Report does not...more

USDOL Prevails in Kansas in Another Decision on Fiduciary Rule

On February 17, 2017, a federal district Court in Kansas upheld the U.S. Department of Labor’s conflict of interest rule and related exemptions in a suit brought by Market Synergy Group, Inc. This ruling on the merits follows...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

We learned about KraftHeinz’s offer to merge with Unilever only after it had been rejected. And now it appears to be off the table completely—all $143 billion of it....more

Who is a “parent” in the Ontario pension world? And why does it matter?

by Dentons on

Any person who is the “spouse” of a member of a registered pension plan in Canada has rights regarding the pension entitlement of his or her partner. That important policy has been entrenched in pension legislation for...more

Recent Changes to the IRS Determination Letter Program

by Kelley Drye & Warren LLP on

Effective January 1, 2017, except for the last batch of Cycle A filers who were permitted to submit determination letters by January 31, 2017 (i.e., filers with an EIN ending in 1 or 6), the IRS will no longer accept...more

Good Advice for Everyone: Ten Steps to Avoid Big Trouble

by Varnum LLP on

On both a business and individual level, there are ten easy steps you can take now to avoid big trouble later. If you address just five of these items this month, you will be half way there. Originally published in the...more

Reducing your Pension Protection Fund (PPF) levy for 2017/18

by Hogan Lovells on

2017/18 is the third year in the Pension Protection Fund (PPF)'s levy "triennium" under the new levy framework. Trustees who wish to reduce their pension scheme's risk-based levy by taking account of contingent assets or...more

DOL Fiduciary Rule Still On for April 10 Implementation

by Burr & Forman on

The Department of Labor’s Fiduciary Duty Rule remains on track for April 10 implementation, notwithstanding a maelstrom of hype about it. Nearly everyone expected the new administration would delay the Rule – and many...more

President Trump Calls for a Review of DOL’s Fiduciary Rule

by Robinson & Cole LLP on

On February 3, 2017, President Trump signed a presidential memorandum (Memorandum) ordering the U.S. Department of Labor (DOL) to review its conflict of interest rule defining the term “fiduciary” for retirement investment...more

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