Verrill Dana, LLP

Verrill Dana is a full service law firm with more than 130 attorneys and a growing number of service-based practice groups. The firm has a regional presence in the Northeast, with offices from Maine to Washington, D.C., allowing us to serve clients with interests across the country and around the world. Through scalable staffing, careful communication and skillful project management, Verrill Dana helps individuals and businesses achieve their goals in a manner that suits their unique legal needs and preferred work methods.

Website: https://www.verrill-law.com/
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Tax-exempt employers whose 403(b) plans have failed to comply with the “once in, always in” eligibility rule in the past should be well on their way to compliance by now.  IRS Notice 2018-95 granted limited relief from this common administrative failure.  The grace period for non-compliance has ended for many, perhaps most, 403(b) plans, but all 403(b) plan sponsors should ensure that they are in compliance this year.  Specifically, this means that all employees that…
The American Bankers Association has just issued a report entitled “The Public Benefits of Banking Cannabis Businesses.”  The report was issued July, 2019, and is available here. The ABA Report highlights the challenges of preventing cannabis-related businesses from accessing the banking system, particularly as the industry continues to grow at a rapid pace. The Report notes that the legal cannabis industry in the US is approximately $10 billion per year. If this industry is…
On July 12, 2019, the Maine Public Utilities Commission unanimously approved a long-term contract for the purchase of power from Weaver Wind, a 72.6 MW wind power project in Hancock County Maine. The expected commercial operational date for Weaver is no later than December 2020. Chairman Philip Bartlett remarked that ”[t]his 20-year contract should create real ratepayer benefits for Maine.” The contract price of 3.5 cents/kWh, increasing at 2.5% per year, the Commission noted, is very…
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ERISA Section 206(d)(3)(G)(ii) requires sponsors of qualified retirement plans to maintain written procedures for the administration of qualified domestic relations orders (“QDROs”), and the Plan Administrator has an obligation to ensure that a domestic relations order received by the plan is “qualified” before making the payments or taking other actions contained in the order.  While a Plan Sponsor is not required to maintain a model QDRO for its retirement plans, the development of a model…
Wednesday Jun262019 Bangor Savings Bank ends 2018 with a 38% increase from 2017.  (BDN 6.21.19) Bar Harbor Trust Services was added to the lawsuit involving theft by Robert K. Lindell, Jr.  (BDN 6.11.19)  Canada’s largest banks are looking outside Canada to continue growing.  (Bloomberg News 5.24.19) Plans to open Maine Harvest Credit Union this summer will be focused on famers and food entrepreneurs.  (Mainebiz 5.22.19) Bangor Savings Bank held opening ceremony for its…
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Those closely following the timeline for implementation of Massachusetts’s new Paid Family and Medical Leave, are aware that on July 1, 2019, employers were required to begin to make payroll deductions for the paid leave.   Did you see the “were,” in that last sentence.  That is not a typo. Yesterday, Governor Charlie Baker, Senate President Karn Spilka, and House Speaker Robert DeLeo announced an agreement that the taxes which were supposed to kick in on July…
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  UPDATE: The Massachusetts Department of Family and Medical Leave announced that along with the start of contributions being delayed from July 1, 2019, to Oct. 1, 2019, the following aspects of the program are also delayed: – the deadline for providing notice to employees is delayed from June 30, 2019, to Sept. 30, 2019; – the deadline for applications for an exemption from the state program is delayed from Sept. 20, 2019, to Dec.…