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How flexible working hours, competitive pension benefits, and mental wellbeing support can engage the Gen Z workforce

Employee Benefits

Pensions and Future Planning Contrary to stereotypes, Gen Z actually places significant importance on pension benefits for future planning. In our report, pension needs ranked closely behind work-life balance in terms of importance, with an average score of 7.52. out of 10 in the findings from our exclusive report.

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District Court Rejects Participant’s Attempt to Stop Plan From Recouping Overpayments

Proskauer's Employee Benefits & Executive Compensa

2023 WL 186800 (E.D. 13, 2023), the court granted a motion to dismiss a pension plan participant’s claim that the plan was equitably estopped from recouping overpaid plan benefits. In Kanefsky v. Ford Motor Co. 22-cv-2259, 10548 U.S. per month. App’x 588 (6th Cir.

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Audrey Williams: How can EU equal pay regulation benefit UK workers?

Employee Benefits

This has come under scrutiny as a result of the Retained EU Law (Revocation and Reform) Act 2023, which received Royal Assent on 29 June 2023. It largely comes into effect on 31 December 2023 and gives ministers the power to change laws accumulated during the UK’s membership of the EU.

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PBGC (Slightly) Opens Door to Exceptions From Special Withdrawal Liability Rules for SFA Multiemployer Pension Plans

Proskauer's Employee Benefits & Executive Compensa

As previously discussed , the Pension Benefit Guaranty Corporation (the “PBGC”) issued final regulations in July 2022 for plans that receive special financial assistance (“SFA”) under the American Rescue Plan Act of 2021 (“ARPA”). Although the regulations were “final,” the PBGC invited comments on the phase-in rule in particular.

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Financial Implications of Working in Later Life

Money Talk

Tax on Social Security Benefits - Those who work and claim benefits will trigger taxes with a combined income above $25,000 (individuals) or $32,000 (married couples filing jointly). If earnings replace prior years in a 35-year benefit formula, benefits will rise. Other benefits also continue.

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What do employers need to know about the pensions lifetime allowance abolition?

Employee Benefits

The lifetime allowance (LTA) is the total value an individual can build up in their combined pension savings without incurring a tax charge: for most people in the tax year 2023/24 this is £1,073,100.

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[Podcast]: Special Financial Assistance for Multi-employer Pension Plans (Part 2)

Proskauer's Employee Benefits & Executive Compensa

This episode of The Proskauer Benefits Brief is the second of our three-part series analyzing the Pension Benefit Guaranty Corporation (PBGC) guidance on the new special financial assistance program for troubled multiemployer pension plans that was created by the American Rescue Plan Act (ARPA).

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