In the string of pension-plan related, actuarial equivalence lawsuits, the court in DeBuske, et al. v. PepsiCo, Inc., et al. recently handed down the first decision favorable to plan sponsors. The DeBuske court’s narrow decision may, however, have limited impact
Employee Benefits Blog
Insights on Employee Benefits and Executive Compensation
The Employee Benefits Blog, published by McDermott Will & Emery, focuses on legal developments and practical issues related to employee benefits and executive compensation. It covers topics such as regulatory compliance, tax implications, workplace health and safety, employee health benefits, and the impact of employment law decisions on benefit plans. The blog also addresses emerging trends like remote work arrangements, privacy concerns related to health data, and protections for LGBTQ employees under employment discrimination laws. It provides updates on government regulations, IRS guidance, and court rulings affecting employee benefit programs and employer obligations.
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The Global Repercussions of Local Employment Risks
While campaigning for President in 1932, Franklin Roosevelt promised a crowd in Pittsburgh that he’d balance the federal budget while cutting “government operations” by 25 per cent. When he returned to Pittsburgh during his 1936 campaign, Roosevelt asked his staff…
Eye on ERISA: Q&A with McDermott’s Ted Becker
By Ted Becker
As presidential hopefuls bemoan the high cost of healthcare, McDermott’s Ted Becker imagines a stack of lawsuits pushed toward corporations and insurance companies. If workers can use the Employee Retirement Income Security Act to challenge 401(k) plans’ fees and investments,…
Global Employment Contracts: The Modern Tower of Babel
Although multi-jurisdictional compliance is a challenge in relation to every aspect of employment law, the structure of employment contracts and the enforcement of global policies require particularly careful consideration.
The need to coordinate individual country compliance across numerous countries whilst…
High Court Pension Row May Have Broad Impact
A US Supreme Court case pitting pensioners against US Bank could have a wide-ranging impact on who can bring suit under ERISA, whether they participate in a defined benefit pension plan or a 401(k) plan.
Recently, on Law360, McDermott’s Richard…
A New Landscape for Businesses with California Operations, Thanks to A.B. 5
This month, Assembly Bill 5 (A.B. 5) was signed into California law. A.B. 5 codifies the “ABC Test”—used to determine if a worker is an independent contractor—which is broader, harsher and more inclusive than the common law test with which…
Employment, Benefits and Compensation Forum: Control Your Own Headlines
In today’s high-stakes environment, in-house counsel and HR professionals are often on the frontlines, responding to headlines that threaten business and reputational objectives.
Join McDermott Will & Emery’s Employment and Employee Benefits practice groups at a half-day forum in our…
Once Again, IRS Extends Nondiscrimination Relief for Frozen Defined Benefit Plans
The Internal Revenue Service (IRS) has once again extended the temporary nondiscrimination relief for frozen defined benefit plans, now through 2020. Frozen pension plans are pension plans that have been closed to new participants but continue to provide ongoing benefit…
PBGC’s Multiemployer Insurance Program Faces Insolvency, While Single-Employer Program Improves
The Pension Benefit Guaranty Corporation (PBGC) recently issued a press release announcing that the Multiemployer Insurance Program remains in a dire financial condition, nearing insolvency. The agency’s insurance program for multiemployer pensions, covering more than 10 million people, will likely…
Tyll v. Stanley Black & Decker: When Plan Ambiguity Cost an Employer $4 Million
An employer learned the full cost of ambiguity when a Connecticut federal district court agreed with an employee’s widow that the word “maximum” was ambiguous in the company’s life insurance plan, thus making the widow entitled to an additional $4…