On June 20, 2024, the Internal Revenue Service (“IRS”) released Notice 2024-55 (the “Notice”) offering guidance on two (2) new types of distributions exempt from the 10% early withdrawal penalty: emergency personal expense distributions and domestic abuse victim distributions.
Employee Benefits
Reporting developments affecting employee benefits and executive compensation
Latest from Employee Benefits - Page 2
Back to 1975: New Delays to the DOL’s Investment Fiduciary Advice Rule
Two Texas federal court decisions have stalled the U.S. Department of Labor’s (“DOL”) “investment advice fiduciary rule” under Section 3(21) of the Employee Income Security Act of 1974, as amended (the “Fiduciary Rule”) from its September 23, 2024 effective date…
UPDATE – Form 5330 E-Filing Requirement Headache Relieved for 2024
In a blog post dated May 10, 2024, we discussed the Form 5330, an excise tax return used by certain employers and individuals to pay penalty taxes with respect to employee benefit plans, must be filed electronically for taxable years…
Revisiting Financial Institution Incentive Compensation Rules Under Dodd-Frank
The Consumer Finance Podcast
In this episode of The Consumer Finance Podcast, Chris Willis delves into the renewed focus on incentive compensation by federal financial regulators. Joined by colleagues Sheri Adler and Jina Davidovich from the Employee Benefits and Executive…
Imminent Shift: Preparing for the T+1 Settlement Impact on Equity-Based Compensation
By Sheri Adler & Chris Willis
The Consumer Finance Podcast
In this episode of The Consumer Finance Podcast, Chris Willis is joined by Sheri Adler to discuss the implications of the upcoming change in securities law that shortens the settlement period for broker-dealer transactions from T+2…
Form 5330 E-Filing Requirement Headache
The Form 5330, an excise tax return used by certain employers and individuals to pay penalty taxes, must be filed electronically for taxable years ending on or after December 31, 2023. As described below, this may create issues for sponsors…
Final Rule Issued by OCR and CMS for Nondiscrimination Protections Under Section 1557 of the ACA
By Grace Elliot
The U.S. Department of Health and Human Services (“HHS”) Office for Civil Rights (“OCR”) and the Centers for Medicare & Medicaid Services (“CMS”) issued a final rule on April 26, 2024 (the “Final Rule”) under Section 1557 of the Affordable…
The DOL’s Final Investment Advice Fiduciary Rule Is Here
In its latest attempt in a fourteen-year old quest to update the circa-1975 definition of a fiduciary who renders “investment advice for a fee or other compensation, direct or indirect” (an “investment advice fiduciary”) under the Employee Retirement Income Security…
Multiemployer Pension Plans in Mergers and Acquisitions
In this insightful episode of our Employee Benefits and Executive Compensation Considerations in Mergers and Acquisitions podcast series, attorneys Paul Porretta and Christopher Stock delve into the complex world of multiemployer pension plans. They discuss critical considerations for businesses contemplating…
T+1 Settlement & Equity Award Tax Withholding
By Sheri Adler
Troutman Pepper Partner Sheri Adler recently joined Meredith Ervine on The Pay & Proxy Podcast from Compensation Standards, to discuss the upcoming shift to T+1 settlement and the impact on equity award tax withholding. The podcast can be accessed here. Topics…