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Severance Pay Employee Benefits

[Podcast]: Severance Pay Plans & ERISA

In this benefits law edition of The Proskauer Brief, senior counsel Anthony Cacace and partner Robert Projansky discuss how severance plans can be subject to ERISA. We will discuss the key advantages of having severance pay...more

Central District Of California Finds No ERISA Preemption Where Determination Of Benefits At Termination Is Non-Discretionary

by Seyfarth Shaw LLP on

Seyfarth Synopsis: Claims for benefits at termination may proceed as a breach of contract claim in state court, and avoid ERISA preemption, where the calculations are individualized, straightforward and do not implicate an...more

District Court Case Highlights Advantages of ERISA Severance Plans

by Hogan Lovells on

Specialists have long touted certain significant advantages to employers that come along with maintaining ERISA severance plans, and a recent district court case highlights some of these advantages....more

Preparing for Tax Reform: The Current State of Play on Proposed Changes to Executive Compensation and Employee Benefits

On November 16, 2017, the House of Representatives voted to approve its version of the Tax Cuts and Jobs Act. The Senate is expected to vote on its version of the bill following the Thanksgiving break, which would require a...more

Tax Cuts and Jobs Act Proposes Sweeping Changes in Compensation and Benefit Taxation

On November 2, 2017, Congressman Kevin Brady of Texas, Chairman of the House Ways and Means Committee, introduced the Tax Cuts and Jobs Act (the "Proposed Bill") in the U.S. House of Representatives. The Proposed Bill...more

Executive Compensation Under the Tax Cuts and Jobs Act: The End of Executive Compensation As We Know It

If enacted, the newly proposed Tax Cuts and Jobs Act would effectively put an end to many of the most widely used forms of executive compensation: - Deferred compensation and stock options would disappear. - Use of...more

Workwise: Don't Skimp on Statutory Minimums: Drafting an Enforceable Termination Clause

by Field Law on

The recent decision of the Court of Appeal for Ontario in Wood v. Fred Deeley Imports Ltd., 2017 ONCA 158 (Wood), once again highlights that employers must be very careful when it comes to drafting termination clauses as a...more

Puerto Rico Approves Major Reform of its Employment Laws

by Littler on

On January 26, 2017, the Governor of Puerto Rico approved the Labor Transformation and Flexibility Act (“the Act"). The Act makes substantial changes to virtually all existing Puerto Rico employment laws, including those...more

Legal updates regarding Israeli law - Significant recent case law: employer ordered to provide prior notice to employees in a...

by Dentons on

Employment Appeal 28597-03-11 Dabush Light – Jordanian Locks Holdings (2005) Limited. Decided on February 11, 2015. Jordanian Locks transferred the ownership of its plant to another company. The employees continued to...more

Changes to tax treatment of termination payments

by Reed Smith on

The UK Government has announced changes to the tax treatment of termination payments following the conclusion of its recent consultation. Draft legislation has now been published which will come into force in April 2018....more

New Proposed Regulations for Section 457(f) Nonqualified Deferred Compensation Arrangements of Non-Profit and Governmental...

The Internal Revenue Service recently released long anticipated proposed regulations (the “Proposed Regulations”) governing deferred compensation arrangements maintained by tax-exempt organizations and governmental entities...more

Employee Benefits Developments - July 2016

by Hodgson Russ LLP on

Section 409A of the Internal Revenue Code (“Section 409A”) generally provides that, if a plan providing for deferred compensation fails to comply with Section 409A, either in form or in operation, then all amounts deferred...more

Does Your Severance Trigger ERISA? Why You Should Care and What You Should Do

by Foley & Lardner LLP on

Generally speaking, many employers do not think about the Employee Retirement Income Security Act (ERISA) when it comes to severance, whether at the front end, when employment agreements or policies are negotiated and...more

IRS Issues Proposed Regulations Under Code Section 457 Affecting Deferred Compensation Plans of Tax-Exempt Organizations

by Littler on

The Internal Revenue Service recently issued proposed regulations under Section 457 of the Internal Revenue Code (the “Code”) that prescribe rules regarding deferred compensation plans sponsored by state and local governments...more

IRS Provides New 409A Guidance; New Proposed Regulations Provide Additional Clarity, Warn of Abusive Practices, and Present...

by McDermott Will & Emery on

In Depth - Additional flexibility to use Section 409A exemptions - ..Expanded availability of the rules for transaction-based compensation for stock rights and incentive stock options. The final regulations allow...more

IRS Issues Regulations Affecting Compensation Arrangements at Tax-Exempt Organizations

by McDermott Will & Emery on

On June 21, the IRS issued long awaited proposed regulations under Section 457 of the Internal Revenue Code that affect a broad range of compensation arrangements at tax exempt organizations. If a compensation arrangement is...more

Be Global - June 2015

by DLA Piper on

Whistleblowing: An employer's guide to global compliance - As the global push to combat corruption in government, politics, civil society and business gathers pace, whistleblowing continues to be a topic of ever...more

Mandatory Provident Fund in Hong Kong: What is on the Horizon?

by DLA Piper on

The Mandatory Provident Fund Schemes (Amendment) Bill 2014 (“Bill”) was passed by the Legislative Council in January 2015 to amend the Mandatory Provident Fund Schemes Ordinance (“MPFSO”) and its subsidiary legislation. Some...more

Be Global - A look ahead to key international employment law developments expected in 2015

by DLA Piper on

In This Issue: - ASIA PACIFIC: - Australia: Gender Equality Reporting Update - China: Predicted Increase in Collective Bargaining - China: Compliance with 10% Cap on Dispatch Workers - Hong Kong:...more

How to Structure an Employee Severance Package Regarding COBRA and the ACA

Often, when parting ways with an employee, an employer may offer to pay for some months of COBRA continuation coverage so that the employee can remain covered without having to pay the substantial premiums associated with...more

What Everyone Needs to Know About the Coordination of Severance Benefits, COBRA, and the ACA

In a common occurrence throughout corporate America, an employee terminates employment and as a result will lose company-provided health care coverage. To obtain health care coverage, the employee has two options: 1) elect...more

Be Global - May 2014

by DLA Piper on

HIGHLIGHTS: France: Finding a buyer before a shut down - the "Florange" law - As reported in February's Be Global, the French Government has introduced legislation (known as the "Florange" law) imposing an obligation...more

Employee Benefits Developments - April 2014

by Hodgson Russ LLP on

Supreme Court Holds Severance Payments Are Subject to FICA Taxes - Reversing a decision by the Sixth Circuit Court of Appeals, the U.S. Supreme Court ruled unanimously that severance payments to employees who were...more

No Refunds: Supreme Court Settles Circuit Split over Severance Payment Taxation

by Baker Donelson on

In its ruling on United States v. Quality Stores, Inc., No. 12-1408 (U.S. Mar. 25, 2014), the United States Supreme Court put to rest a decade-old battle over whether severance payments made to employees are taxable as wages...more

Employment Law in Costa Rica: A Country Protective of its Employees and Natural Environment

by Fisher Phillips on

On January 9, 2013 it was reported in thecostaricanews.com that the Costa Rican government has announced a new aggressive policy to attract foreign investment. According to the article, the government of Costa Rican’s...more

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