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Key Features: In-depth modules on compensation management fundamentals. Focus on the latest trends in compensation, including pay equity and executivecompensation. Best For: HR professionals aiming to specialize in compensation or those already working in compensation roles seeking formal recognition of their expertise.
The post Save It for a Rainy Day: Recent Amendment Extensions for Qualified RetirementPlans, 403(b) Plans and Individual Retirement Accounts appeared first on EMPLOYEE BENEFITS BLOG.
Are your retirementplan programs in full compliance with ERISA and fiduciary responsibilities including filings of all required tax reporting? Do you know who the fiduciary on your plan is? Is your benefits package competitive enough to attract and retain talent? If you don’t know, its likely you — the business owner.
In these slides, McDermott Partners Andrew Liazos and Ashley Altschuler summarize some of the key developments in hiring, executivecompensation, remote work and more. What effects did the COVID-19 pandemic have on employers and employment litigation in 2021? Access the slides.
Fiduciaries of 403(b), 401(a) and 457(b) retirementplans have come under increased scrutiny in recent years, in part due to participant lawsuits filed against plan sponsors and the resulting media attention.
On September 26, 2022, the Internal Revenue Service (IRS) extended the amendment deadline for non-governmental qualified retirementplans, plans covered under Section 403(b) of the Internal Revenue Code (Code) and individual retirement accounts (IRAs).
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.
Topics being discussed include re-evaluating major areas such as corporate tax structure, executivecompensation, employee bonuses and depreciation of assets. A PEO can help you provide your employees with access to competitive benefits that include medical, dental and vision insurance, 401(k) retirementplans and much more.
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 retirementplan sponsors and employers. please see our other blog posts or contact a member of Proskauer’s Employee Benefits and ExecutiveCompensation group.
On May 13, 2021, Phoenix executivecompensation and employee benefits partner, Greg Gautam, joined Snell & Wilmer’s “CalCurrent” podcast. On his episode, Greg covered five common pitfalls private companies and startup companies should watch out for when structuring their equity compensation and incentive programs.
A decision not to claw back compensation is required to be disclosed and is subject to review by the exchange. Proskauer’s Employee Benefits and ExecutiveCompensation team is advising issuers on implementation of new clawback policies and updating existing clawback policies to comply with the listing standards as they are finalized.
Many countries finalized new regulations and released new guidance in 2024 that will impact global equity plans. This client alert highlights key updates from Canada, the European Union, the United Kingdom, Brazil, and other jurisdictions, and recommends steps companies should take to address them. Access the article.
Taxes can have a significant impact on family offices, influencing decisions around structure, investing and overall planning strategies. McDermott’s Family Office Tax webinar series explores the latest trends and guidance on tax planning for family offices and identifies opportunities to optimize tax efficiency.
Earlier this spring, McDermott Partner Erin Turley delivered a presentation about the impacts of recent Employee Retirement Income Security Act of 1974 (ERISA) litigation.
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 Federal Civil Penalties Inflation Adjustment Act of 2015 directs the US Department of Labor (DOL) to make annual inflation adjustments to specified Employee Retirement Income Security Act (ERISA) violations.
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).
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.”
A recent US Court of Appeals for the Seventh Circuit case supplies answers to many questions left open in 401(k) fee litigation cases after the US Supreme Court’s ruling earlier this year in Hughes v. Northwestern University. Specifically, to survive a motion to dismiss in the Seventh Circuit, the recent ruling in Albert v. Oshkosh […].
On March 11, 2021, President Biden signed the American Rescue Plan Act of 2021 (the “ARPA”) into law. 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. Subsidized COBRA.
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