Author Archive
Health Care Reform May Impact Your Employment and Severance Agreements
Executives should be aware of the new application of nondiscrimination rules under the Patient Protection and Affordable Care Act of 2010, as amended (“PPACA” or “Act”)—commonly known as health care reform—that will prevent highly compensated employees from being rewarded with more favorable eligibility terms or richer benefit levels in connection with health insurance.
DOL Issues FAQs on Multiemployer Plan Leasing Arrangements
On October 14, 2011, the Department of Labor’s Employee Benefits Security Administration (“EBSA”) issued a set of Frequently Asked Questions (“FAQs”) to assist multiemployer plan trustees in avoiding common prohibited transactions when structuring leasing arrangements between plans and parties-in-interest. Unless a statutory or administrative exemption applies, a prohibited transaction generally occurs under Section 406(a)(1) of […]
DOL Extends Compliance Deadlines for Service Provider and Participant-Level Fee Disclosures
On February 3, 2012, the Department of Labor (“DOL”) published final regulations under Section 408(b)(2) of ERISA requiring certain retirement plan service providers to disclose fee-related information to plan fiduciaries in order to ensure compliance with the “reasonableness” standard of the Section 408(b)(2) prohibited transaction exemption for contracts necessary for the establishment and operation of […]
IRS Guidance Allows Defined Benefit Pension Annuity Purchases with Rollovers from Plan Sponsor’s Defined Contribution Plan
On February 13, 2012, the IRS issued Revenue Ruling 2012-4, which permits qualified defined benefit plans to accept direct rollovers from defined contribution plans maintained by the same plan sponsor thereby allowing plan participants to purchase annuities that are incremental to the amount the defined benefit plan would ordinarily provide. The Revenue Ruling applies for […]
Protecting a Union’s Rights | Employee Benfits
We all know that winning at the NLRB is hardly the end of the story
CUEd In: Volume I, Issue 3 – September 2011
Welcome to the third issue of CUEd In, our guide to the law and business of employee benefits for credit union executives. In this issue, we take a look at a recent case involving the recovery of incentive plan benefits by executives and the impact that waivers and releases can have on a credit union […]
Health Reform Summary of Benefits and Coverage Effective Date Delayed
On August 22, 2011, the U.S. Departments of Labor, Health and Human Services, and Treasury issued a proposed rule under the Patient Protection and Affordable Care Act that requires group health plans and health insurance issuers to: (1) provide a summary of benefits and coverage (“Summary”) to participants and beneficiaries, and (2) make available to […]
Loffredo v. Daimler AG
In Loffredo v. Daimler AG, retired executives—whose supplemental executive retirement benefits did not survive Chrysler’s bankruptcy—learned they have no remedy available under state law because the Employee Retirement Income Security Act of 1974, as amended (“ERISA”) governed their plan. As a result, executives age 62 or older will no longer receive supplemental retirement benefits. Take heed […]
NYSBA Perspective – Fall 2007 | Employee Benefits
Employees, in particular executives, may be covered by a wide range of compensation arrangements. These compensation arrangements may involve, for example, tax-qualified pension and retirement plans, health and welfare plans, non-qualified deferred compensation, life insurance and stock-based compensation.