McDermott Will & Emery Employee Benefits

OCTOBER 12, 2022

On September 26, 2022, the Internal Revenue Service (IRS) extended the amendment deadline for non-governmental qualified retirement plans, plans covered under Section 403(b) of the Internal Revenue Code (Code) and individual retirement accounts (IRAs).

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McDermott Will & Emery Employee Benefits

JUNE 9, 2022

On May 5, 2022, McDermott Partner Erin Turley delivered a presentation during the 2022 TEA National Conference titled “Understanding a Trustee’s Role in Management Incentive Plans.” The post Understanding a Trustee’s Role in Management Incentive Plans appeared first on EMPLOYEE BENEFITS BLOG.

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McDermott Will & Emery Employee Benefits

JULY 26, 2022

82830-4-I, 2022 WL 2206828 (Wash. June 21, 2022). The post Seattle Payroll Expense Tax Upheld by State Appellate Court appeared first on EMPLOYEE BENEFITS BLOG. Seattle Metro. Chamber of Commerce v. City of Seattle, No. The tax, which went into effect on January 1, 2021, […].

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McDermott Will & Emery Employee Benefits

JANUARY 11, 2023

We recently reported on an FAQ issued December 23, 2022 (FAQ About Affordable Care Act and Consolidated Appropriations Act, 2021 Implementation Part 56) by the US Departments of Labor, Health and Human Services and the Treasury (collectively, the Departments).

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Employee Benefits Health and Welfare Executive Compensation Retirement Plan 98

McDermott Will & Emery Employee Benefits

SEPTEMBER 15, 2022

On August 25, 2022, the US Securities and Exchange Commission (SEC) adopted final rules to implement the pay versus performance disclosure requirement mandated by the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act). The post SEC Adopts Final Pay Versus Performance Rules appeared first on EMPLOYEE BENEFITS BLOG.

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McDermott Will & Emery Employee Benefits

AUGUST 29, 2022

On August 25, 2022, the US Securities and Exchange Commission (SEC) adopted final rules imposing new mandatory “pay for performance” disclosures for most public companies (foreign private issuers, emerging growth companies and registered investment companies are excluded).

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Commissions Employee Benefits Executive Compensation 98

McDermott Will & Emery Employee Benefits

DECEMBER 8, 2022

Effective January 1, 2023, Washington employers must comply with SB 5761, commonly known as Washington’s Pay Transparency Law, signed by Governor Jay Inslee on March 30, 2022. The post Washington State’s Pay Transparency Law Takes Effect January 1, 2023 appeared first on EMPLOYEE BENEFITS BLOG.

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Proskauer's Employee Benefits & Executive Compensa

NOVEMBER 30, 2023

The Securities and Exchange Commission adopted the final clawback rules under Dodd-Frank (the “ Final Rules ”) on October 26, 2022, and we discussed the detailed requirements of the Final Rules and related practical considerations in this earlier blog post.

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Proskauer's Employee Benefits & Executive Compensa

AUGUST 20, 2021

ROB PROJANSKY : Hello and welcome to Proskauer Benefits Brief, Legal Insights on Employee Benefits and Executive Compensation. Third, plans that has suspended benefits under the Multiemployer Pension Reform Act as of March 11, 2021, which is the date on which this new law was enacted.

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Proskauer's Employee Benefits & Executive Compensa

DECEMBER 15, 2022

Proxy advisory firms Institutional Shareholder Services (“ISS”) and Glass Lewis (“GL”) each published their annual policy updates for 2023, which updates made certain changes relating to executive compensation. [1] Value-Adjusted Burn Rates for Equity Plan Evaluations. Please contact a member of the team with questions. . [1]

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Proskauer's Employee Benefits & Executive Compensa

OCTOBER 19, 2022

In September 2022, Deputy Attorney General Lisa Monaco delivered remarks unveiling the Department of Justice’s revised corporate crime guidance to “prioritize and prosecute corporate crime.” To that end, Monaco emphasized that the DOJ will “reward” companies that claw back compensation from executives “when misconduct occurs.”

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Proskauer's Employee Benefits & Executive Compensa

JANUARY 31, 2023

Act of 2022 (“ SECURE 2.0 ”) that was signed into law on December 29, 2022 as part of the 2023 Consolidated Appropriations Act includes a slew of changes for retirement plan sponsors and employers. please see our other blog posts or contact a member of Proskauer’s Employee Benefits and Executive Compensation group.

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Proskauer's Employee Benefits & Executive Compensa

JULY 7, 2023

In other words, companies should not grant spring-loaded awards under any mistaken belief that they do not have to reflect any of the additional value conveyed to the recipients from the anticipated announcement of material information when recognizing compensation cost for the awards.”

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Benefits Notes

AUGUST 29, 2023

Act of 2022 (“SECURE 2.0”) required that effective as of January 1, 2024 , participants in 401(k) plans, 403(b) plans, or governmental 457(b) plans, who were age 50 or older and whose Social Security wages for the previous year exceed $145,000 (indexed), only be permitted to make catch-up contributions under such plans on a Roth (after-tax) basis.

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Proskauer's Employee Benefits & Executive Compensa

NOVEMBER 2, 2022

Twelve years after the enactment of the Dodd-Frank Wall Street Reform and Consumer Protection Act, and many years after the Securities and Exchange Commission started considering regulations implementing the clawback provisions of Dodd-Frank, the SEC published the Final “Clawback” Rules (the “Final Rules”) on October 26, 2022.

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Executive Compensation Incentive Compensation Retirement Plan Taxes 52

Snell & Wilmer Benefits

JUNE 8, 2023

As described in Part 4 of our 2022 end of year plan sponsor “to do” list , on October 26, 2022, the Securities and Exchange Commission published the final clawback rules under the Dodd-Frank Wall Street Reform and Consumer Protection Act (“Dodd-Frank”).

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Snell & Wilmer Benefits

JANUARY 30, 2023

For ISO exercises and ESPP transfers occurring in 2022, the Section 6039 employee information statement requirement is satisfied by providing Form 3921 (for ISOs) and Form 3922 (for ESPPs) to employees no later than January 31, 2023.

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Electronics Employment Executive Compensation Employee Benefits 52

Snell & Wilmer Benefits

JANUARY 30, 2023

For ISO exercises and ESPP transfers occurring in 2022, the Section 6039 employee information statement requirement is satisfied by providing Form 3921 (for ISOs) and Form 3922 (for ESPPs) to employees no later than January 31, 2023.

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Snell & Wilmer Benefits

FEBRUARY 21, 2022

For a calendar fiscal year employer that sponsors an annual incentive program which provides that an employee will vest in any amounts earned if the employee is employed as of the last day of the calendar year, annual incentive payments earned in 2021 must be paid on or prior to March 15, 2022 to qualify as short-term deferral payments.

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Proskauer's Employee Benefits & Executive Compensa

JUNE 14, 2022

Consider the following: An Intelligize search completed in May 2022 for publicly filed proxy statements that contain “self-assessment” or “self-evaluation” within three words of “CEO” returns 623 results. The proxy disclosure of the CEO self-assessment process varies, depending on the issuer.

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Proskauer's Employee Benefits & Executive Compensa

JULY 27, 2022

An HCI is generally defined as the lesser of (1) highest paid 1% of the employee population or (2) 250 highest paid employees (compensation must be in excess of the IRS Highly Compensated Employee compensation limit, which is $135,000 for 2022). When is a Payment Contingent on a Change in Control?

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Vantage Circle

MAY 29, 2023

From remote work policies to green initiatives, companies realize that people's sustainability is good for business and essential for the well-being of their employees and communities. Over 4500 companies globally have become certified B Corps as of February 2022. (To To answer this question correctly is people sustainability.

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Health and Welfare Education Government Electronics 81

HR Lineup

OCTOBER 31, 2021

Having the best compensation plan will help you avoid the risk of losing them or scaring away potential hires. In addition, you need the best employee benefits software in 2022 to help you plan your compensation effectively. . Our List of Top Employee Benefits Administration Software 2022.

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Benefits Notes

MARCH 31, 2021

Many of the provisions in this sweeping legislation bring changes to the employee benefits world of which employers should take note and which are summarized below. The ARPA contains several new rules which impact COBRA benefits. The ARPA contains two funding relief items that benefit single employer pension plans.

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Proskauer's Employee Benefits & Executive Compensa

MARCH 23, 2023

Listen to the podcast Tanusha Yarlagadda: Hello and welcome to The Proskauer Benefits Brief: Legal Insights on Employee Benefits and Executive Compensation. That concludes our discussion of the DOL’s 2022 final ESG rules. Thank you all for joining us on The Proskauer Benefits Brief.

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401(k) Executive Compensation Government Management 104

Proskauer's Employee Benefits & Executive Compensa

JANUARY 6, 2023

As foreshadowed by the FTC’s issuance of a Policy Statement in November 2022 outlining new principles to expand its enforcement authority under Section 5 of the FTC Act, the Proposed Rule now invokes that authority to find non-competition clauses to be an “unfair method of competition” under Section 5. Key Takeaways. EPA , 142 S.

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