If you are tired of keeping track of which retirement plan investments are deemed “good” and which are suddenly “bad”, we have encouraging news. The Department of Labor’s (“DOL’s”) latest proposed rule goes back to the fundamentals and our favorite
Beneficially Yours, published by Seyfarth Shaw LLP, focuses on legal developments and practical guidance related to employee benefits and compensation. The blog covers topics such as employment contract reforms, health and welfare plan limits, tax-qualified retirement plan regulations, and the impact of emerging technologies like artificial intelligence on health plan administration. It also addresses compliance with new laws, IRS announcements on contribution limits, and regulatory updates affecting employee benefit plans. The content is aimed at helping employers, plan sponsors, and legal practitioners navigate complex employee benefits issues and implement effective plan administration strategies.
It has been nearly 20 years since Internal Revenue Code Section 409A transformed the rules governing nonqualified deferred compensation (NQDC). Many employers updated written plan documents by the 2008 deadline—and haven’t touched them since.
As the 20‑year mark approaches, now…
Seyfarth Synopsis:
As we closed out 2025, Governor Kathy Hochul signed into law the New York “Trapped at Work Act,” which amends the New York Labor Law by prohibiting employers from requiring “employment promissory notes” and similar stay‑or‑pay provisions as…
Seyfarth Synopsis: Effective January 1, 2026, new California law prohibits stay-or-pay clauses in contracts of employment with limited exceptions.
Under new Section 16608 of the California Business and Professions Code, effective January 1, 2026, employers are prohibited from entering…
Artificial intelligence (AI) is transforming many industries — and employee benefit plan administration is no exception. In the latest episode of Seyfarth’s Health Care Beat podcast, co-hosts Chris DeMeo and Amanda Genovese continue their discussion on AI & Health Care:…