While opinions on the Tax Cuts and Jobs Act vary, one thing everyone can agree on is that it is a game changer in many areas of law and business. We explain this change and outline what it could mean for
Employee Benefits Law Report
Reporting on recent legal developments and trends affecting employee benefits
The Employee Benefits Law Report, published by Porter Wright Morris & Arthur LLP, focuses on legal and regulatory issues related to employee benefit plans. It covers topics such as compliance with Department of Labor (DOL) guidance, ERISA requirements, summary plan descriptions, plan documents, and fiduciary responsibilities. The blog addresses practical concerns for plan sponsors and fiduciaries, including annual funding notices, ESOP transaction regulations, and best practices for plan administration. It also provides explanations of key employee benefits concepts and helps employers navigate complex regulatory frameworks affecting retirement and welfare benefit plans.
Latest from Employee Benefits Law Report - Page 6
Department of Labor continues to watch ESOP valuations with recent trustee settlements
In recent years, the Department of Labor (DOL) has had a laser-like focus on valuation issues when privately held companies establish employee stock ownership plans (ESOP). In particular, the DOL is concerned with valuations that rely upon unrealistic growth projections,…
House and Senate have their sights on deferred compensation in proposed tax bills
By Greg Daugherty & Dave Tumen
A week after telling everyone to “relax” about the proposed executive compensation changes in the Tax Cuts and Jobs Act, we have to admit that we have been watching anxiously as the proposed bills move through the legislative process. The…
Proposed tax bill would make big changes to (and create new opportunities for) executive compensation
By Greg Daugherty & Dave Tumen
Three games into the 2014 National Football League season, the Green Bay Packers had a 1-2 record. Fans were panicking. Many were questioning whether the Packers and its quarterback, Aaron Rodgers, were doomed to have a bad season. Rodgers responded…
Federal disaster relief available to employees in aftermath of natural disasters
Natural forces wreaked havoc on a number of states and territories this fall when Hurricanes Harvey, Irma and Maria made landfall. The federal government sprang into action by making disaster declarations for affected areas to provide aid in the aftermath…
Are the ERISA disability claims procedure regulations going to be delayed? How qualified and nonqualified plan sponsors should respond to the latest guidance
While the fiduciary rule has received most of the attention in the world of ERISA as of late, a lesser known regulation that was finalized late last year also may require action by plan sponsors. This regulation , issued by…
The “final” countdown: DOL fiduciary rule still applies June 9, 2017
Much has been written to speculate what may become of the Department of Labor’s (DOL) fiduciary rule. Recently, the DOL issued a FAQ confirming that the new fiduciary rule will become effective June 9, 2017. Transition exemptions that were previously…
Will the DOL continue to make ESOPs a compliance priority?
One question that has been on the minds of plan sponsors is how aggressive the Department of Labor (DOL) under President Trump will be compared to that of President Obama. In recent years, the DOL made a priority of investigating…
ERISA fiduciary rule delayed to June 9, 2017, with bonus transition relief through 2017
Today (April 7, 2017), the Department of Labor (DOL) published in the Federal Register a final rule delaying the new ERISA fiduciary rule until June 9, 2017. Everyone expected a comprehensive 60-day delay to the rule, including the related Best…
Hurry up and wait: ERISA fiduciary rule delayed
While it took longer than many expected, the Department of Labor (DOL) issued a proposed rule that would provide a 60-day delay to the application of the new fiduciary rule and related prohibited transaction exemptions. As we reported in our…