Founders and other employees of private companies commonly employ sales of stock in the secondary market as a means of accessing cash prior to an offering or exit. Such sales are typically structured as a direct purchase of...more
The Internal Revenue Service (the “IRS”) recently issued Notice 2022-33 (the “Notice”), providing extensions to certain upcoming plan amendment deadlines under certain provisions of the Setting Every Community Up for...more
On June 24, 2022, the Supreme Court of the United States (the “Court”) issued its opinion in Dobbs v. Jackson Women’s Health Organization, overturning the long-standing precedent of Roe v. Wade. In its 6-3 decision, the Court...more
Start-up and early stage companies commonly offer equity compensation to attract talent, encourage employee retention, and align company and employee interests on business objectives. There are several different types of equity...more
Estate planning strategies for founders are typically focused on saving both income taxes and estate taxes. Income tax savings can be achieved by creating and funding multiple trusts with company stock that duplicate any...more
On January 24, 2022, in a rare, unanimous 8-0 decision (Justice Barrett recused herself from the case), the Supreme Court of the United States (the “Supreme Court”) vacated a Seventh Circuit affirmation of the dismissal of...more
3/3/2022
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Benefit Plan Sponsors ,
Class Action ,
Duty of Prudence ,
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Fiduciary Duty ,
Hughes v. Northwestern University ,
Plan Participants ,
Remand ,
Retirement Plan ,
Retirement Plan Providers ,
SCOTUS
On December 15, 2021, the New York City Council passed a bill requiring NYC employers to include minimum and maximum salary information in job postings for any positions located within New York City. The bill became law on...more
As 2021 comes to a close, we are taking a look back at some of the major developments in New York City and New York state employment law this past year, and a look ahead as to what’s to come in the New Year. We start our...more
After being put on hold by court orders, the Occupational Safety and Health Administration (“OSHA”) emergency temporary standard (“ETS”) mandating vaccination or weekly testing of employees of businesses with 100 or more...more
On December 6, 2021, Mayor Bill de Blasio announced a COVID-19 vaccine mandate for all private employers in New York City, which goes into effect on December 27, 2021. Yesterday, the City issued additional guidance related...more
In a press release issued earlier today, Governor Kathy Hochul announced that effective Monday, December 13, 2021, all indoor businesses and venues in New York State must implement either a mask or vaccine mandate applicable...more
On November 4, 2021, the Occupational Health and Safety Administration (“OSHA”) issued an emergency temporary standard (“ETS”) requiring all large employers to adopt a mandatory COVID-19 vaccination policy for all employees...more
Earlier this month, the New York State Department of Labor (the “DOL”) issued guidance entitled “Adult Use Cannabis and the Workplace” (the “Guidance”) in connection with the recently-enacted Marijuana Regulation and Taxation...more
The Setting Every Community Up For Retirement Enhancement Act of 2019 (the “SECURE Act”) made sweeping changes to retirement plan rules. Section 203 of the SECURE Act requires that plan administrators provide participants in...more
The American Rescue Plan Act of 2021 (“ARPA”) made COBRA premium assistance available to certain assistance eligible individuals during the period from April 1, 2021 to September 30, 2021. ARPA also included new notice...more
On May 18, 2021, the Internal Revenue Service (“IRS”) published Notice 2021-31 (the “IRS Notice”) containing detailed guidance relating to premium assistance for COBRA benefits under the American Rescue Plan Act of 2021...more
OSHA Adopts CDC Vaccine Guidance. On May 17, 2021, the federal Occupational Health and Safety Administration (“OSHA”) updated its online COVID-19 portal to announce that OSHA is revising its employer materials to reflect...more
The American Rescue Plan Act (“ARPA”) became law in March of this year. One of the many relief provisions included in ARPA is a temporary subsidy of COBRA continuation premiums for certain individuals, summarized in our...more
On March 26, 2021, the Internal Revenue Service (“IRS”) published Announcement 2021-7, which notifies taxpayers that certain amounts paid for personal protective equipment (such as masks, hand sanitizer, and sanitizing wipes)...more
Eligible employers that have not claimed the employee retention credit could be leaving tens of thousands of dollars of tax benefits on the table. The stakes are even higher under the recently enacted American Rescue Plan...more
The American Rescue Plan Act of 2021 (“ARPA”), signed by President Biden on March 11, 2021, once again gives covered employers the right to voluntarily decide to continue to provide qualified leave under the Emergency Paid...more
On March 11, 2021, President Biden signed into law the American Rescue Plan Act of 2021 (“ARPA”) which is another coronavirus stimulus package aimed at speeding up the United States’ recovery from the economic and health...more
New law provides up to four hours of paid leave for vaccination: On March 12, 2021, New York Governor Andrew Cuomo signed legislation entitling New York employees to up to four hours of paid leave to receive COVID-19...more
On February 26, 2021, the DOL issued guidance regarding the impact of that statutory limitation on the previously announced deadline extensions, in EBSA Disaster Relief Notice 2021-01.
Disaster Relief Notice 2021-01, in...more
On February 18, 2021, the IRS issued Notice 2021-15, which provides guidance with regard to a number of provisions of the temporary changes to the rules related to the operation of health and dependent care flexible spending...more