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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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

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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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.”

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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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McDermott Will & Emery Employee Benefits

JULY 26, 2022

82830-4-I, 2022 WL 2206828 (Wash. June 21, 2022). Last month, the Washington Court of Appeals affirmed a lower court’s decision to dismiss a challenge to the recently enacted payroll expense tax in Seattle, WA. Seattle Metro. Chamber of Commerce v. City of Seattle, No. The tax, which went into effect on January 1, 2021, […].

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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. JUSTIN ALEX : First to set the stage, the Special Assistance Program is available to plans that fall into one of four categories: First, plans that are in critical and declining status in 2020, 2021 or 2022.

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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).

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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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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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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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HR Digest

APRIL 10, 2022

In late 2021 and early 2022, companies implemented pay raises across the board, even for those below the executive and management levels. This amounted to more than $1.2 million a year in USD. Other organizations, such as the E conomic Policy Institute , have discovered that this disparity has grown since the 1970s.

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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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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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Benefits Notes

AUGUST 29, 2023

If you have any additional questions regarding the impact of Notice 2023-62 on your retirement plans, please reach out to a member of Stinson’s employee benefits and executive compensation practice group. As signed into law, Section 603 of the SECURE 2.0

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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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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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Snell & Wilmer Benefits

JANUARY 25, 2024

As reported in Part 4 of our 2022 End of Year Plan Sponsor “To Do” List , Section 6039 of the Internal Revenue Code (the “Code”) requires employers to provide a written information statement to each employee or former employee and file information returns with the IRS regarding: (1) the transfer of stock pursuant to the exercise of an Incentive Stock (..)

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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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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

Over 4500 companies globally have become certified B Corps as of February 2022. (To Innovation broadly impacts a board's fundamental responsibilities, including long-term planning, corporate strategy, people and culture, executive compensation, investments, and acquisitions.

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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. Holland and Knight.

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Benefits Notes

MARCH 31, 2021

First, for plan years beginning in 2022, the amortization period for underfunded plans is extended to 15 years, rather than seven as previous allowed. Plan sponsors may elect to defer the changes until 2022. Single Employer Pension Plan Provisions. 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. We will keep you posted on any new developments in this regard.

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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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