Author Info for Morgan Lewis - ML Benefits

Robert Abramowitz

Window of Opportunity Available for Reducing 2023 PBGC Premiums

Single-employer defined benefit pension plans that have elected to use the “alternative method” for determining Pension Benefit Guaranty Corporation (PBGC) premiums have a window to take action that may significantly reduce… more

Employee Benefits, PBGC, Pensions, Retirement Plan

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Oyinade Adebayo

DOL Issues Temporary Enforcement Policy for Small Amount Transfers to State Unclaimed Property Funds

The US Department of Labor recently issued Field Assistance Bulletin (FAB) 2025-01, a temporary enforcement policy regarding the transfer of small retirement plan benefits to state unclaimed property funds. This development is… more

401k, Department of Labor (DOL), Employee Benefits, Employee Retirement Income Security Act (ERISA), Fiduciary Duty

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Jacqueline Aguilera

Reminder: California Noncompete Deadline Is February 14

Besides being Valentine’s Day, February 14, 2024 is an important day for employers with any California employees: It is the last day for employers to notify California employees (including former employees who were employed… more

California, Employer Liability Issues, Employment Contract, Non-Compete Agreements, Restrictive Covenants

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Rosina Barker

IRS Proposes Regulations on Expanded Definition of Covered Employee Under Code Section 162m

Section 162(m) of the Internal Revenue Code prohibits a publicly held corporation from taking compensation-related tax deductions with respect to the compensation of a “covered employee” to the extent the compensation exceeds $1… more

Compensation & Benefits, Executive Compensation, Internal Revenue Code (IRC), IRS, Proposed Regulation

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Lisa Barton

Procrastinators Rejoice Part II: IRS Extends CARES Act Amendment Deadlines for Loan Relief and COVID-19-Related Distributions

As described in our prior blog post, the US Internal Revenue Service (IRS) recently extended many impending amendment deadlines for legislative changes made by the Setting Every Community Up for Retirement Enhancement Act of… more

Benefit Plan Sponsors, CARES Act, Employee Benefits, Individual Retirement Account (IRA), IRS

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Craig Bitman

Latest Executive Order Could Redefine Retirement Investing

The US administration recently issued an executive order to expand access to alternative investments in ERISA-governed retirement accounts. The order titled Democratizing Access to Alternative Investments for America's Workers… more

401k, Department of Labor (DOL), Digital Assets, Employee Benefits, Employee Retirement Income Security Act (ERISA)

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Summer Blackburn

IRS Issues Important Reminder on Application of IRC Section 415(c) Limit to 403(b) Plans

The Internal Revenue Service (IRS) issued an important reminder of the unique application of the limit under Internal Revenue Code (IRC) Section 415(c) to 403(b) plans on August 20, 2021. The IRS’s “Issue Snapshot” highlighted a… more

403(b) Plans, Benefit Plan Sponsors, Compensation & Benefits, Defined Contribution Plans, Employee Benefits

See all updates »

Michael Blanchard

Delaware Court Signals Significant Change in Standard of Review of Executive Compensation Decisions for Controlled Companies

In a case of first impression, the Delaware Court of Chancery has held that the entire fairness standard of review applies to compensation decisions made with respect to controlled companies, absent implementation of specified… more

Corporate Counsel, Executive Compensation, First Impression, Standard of Review

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Jeremy Blumenfeld

Assessing Your Health Plan’s Service Provider Compensation

Based on new ERISA disclosure rules, now is a good time to review the compensation paid to your health plan’s consultant and broker. ERISA Section 408(b)(2)(B) requires brokers and consultants expecting $1,000 or more in direct… more

Benefit Plan Sponsors, Department of Labor (DOL), Employee Benefits, Employee Retirement Income Security Act (ERISA), Employer Group Health Plans

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Kimberly Boggs

One Big Beautiful Bill: Impact on Welfare Benefits

President Donald Trump signed the One Big Beautiful Bill (OBBB) into law on July 4, 2025. The OBBB is a wide-ranging piece of legislation that introduces significant reforms across multiple areas of federal policy, including… more

Dependent Care, Employee Benefits, Employee Retirement Income Security Act (ERISA), Employer Group Health Plans, HDHP

See all updates »

Claire Bouffard

DOL Issues Temporary Enforcement Policy for Small Amount Transfers to State Unclaimed Property Funds

The US Department of Labor recently issued Field Assistance Bulletin (FAB) 2025-01, a temporary enforcement policy regarding the transfer of small retirement plan benefits to state unclaimed property funds. This development is… more

401k, Department of Labor (DOL), Employee Benefits, Employee Retirement Income Security Act (ERISA), Fiduciary Duty

See all updates »

Matias Bowman

Increased Penalties and Faster Enforcement Potential Changes to the DOLs Form 5500 Penalty Program

Recently, we have become aware of what appears to be a new approach in the US Department of Labor’s (DOL’s) Form 5500 Annual Report (Form 5500) penalty program, including increased penalties and faster enforcement actions. This… more

Department of Labor (DOL), Employee Benefits, Employee Retirement Income Security Act (ERISA), Fiduciary Duty, Form 5500

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Samuel Bryant

Executive Compensation and Employee Benefits Fallout After Sweeping FTC Ban on Noncompetes: Part 3—Impact on Mergers and Acquisitions

This is the third part of a multi-part blog post series discussing the implications and fallout from the Final Rule recently adopted by the Federal Trade Commission (FTC), banning the enforcement of almost all noncompete… more

Acquisitions, Employee Benefits, Employer Liability Issues, Employment Contract, Executive Compensation

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Justin Chairman

Publicly Traded Companies: Don’t Forget to Register Plan Interests in Deferred Compensation Plans

Publicly traded companies generally file registration statements on Form S-8 to register the offering of the company’s stock pursuant to the company’s equity incentive plans under the Securities Act of 1933, as amended… more

Deferred Compensation, Form S-8, Publicly-Traded Companies, Registration Statement, Securities Act of 1933

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Matthew Chapman

Long Awaited ESOP Proposals Issued and Then Quickly Withdrawn

On January 20, 2025, an executive order froze two new pieces of proposed employee stock ownership plan (ESOP) guidance announced in a notice of proposed rulemaking and originally set for publication in the Federal Register on… more

Department of Labor (DOL), Employee Benefits, Employee Retirement Income Security Act (ERISA), ESOP, Executive Orders

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Carley Clark

Not Done Yet—Employee Benefits Plan Transition and Integration Decisions Continue After M&A Transactions Close

Patrick Rehfield focuses on matters related to executive compensation, payroll tax, and employee fringe benefits. He advises private and public companies on designing and implementing nonqualified retirement plans, equity… more

Acquisitions, Employee Benefits, Employer Liability Issues, Mergers, Retirement Plan

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Peter Coulson

Key Considerations for Management in Corporate Transactions: Perspectives from Management Team’s Counsel

In buyout or take private transactions, the management team of the target business is a key constituency that frequently—yet often unknowingly—requires legal counsel to advocate for its interests. The management team’s interests… more

Investment, Private Equity, Shareholders, Take-Private Transactions

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Deborah Davidson

Assessing Your Health Plan’s Service Provider Compensation

Based on new ERISA disclosure rules, now is a good time to review the compensation paid to your health plan’s consultant and broker. ERISA Section 408(b)(2)(B) requires brokers and consultants expecting $1,000 or more in direct… more

Benefit Plan Sponsors, Department of Labor (DOL), Employee Benefits, Employee Retirement Income Security Act (ERISA), Employer Group Health Plans

See all updates »

Althea Day

Wait a Minute, Mister Postman: DOL Issues Annual Funding Notice Guidance

The US Department of Labor (DOL) has issued new guidance in the form of Field Assistance Bulletin No. 2025-02 (FAB 2025-02) and updated model annual funding notices (AFNs) for single-employer and multiemployer pension plans. FAB… more

Department of Labor (DOL), Disclosure Requirements, Employee Benefits, Employee Retirement Income Security Act (ERISA), Filing Requirements

See all updates »

Hengyang Ding

Guidance on Distributions for Emergency Personal Expense and Domestic Abuse Victims

The Internal Revenue Service (IRS) released a notice providing guidance on distributions for emergency personal expense and domestic abuse victims under the SECURE 2.0 Act of 2022 (SECURE 2.0). Both distributions are optional,… more

Domestic Violence, Employee Benefits, Hardship Distributions, IRS, Retirement

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Brian Dougherty

PBGC Modernizes De Minimis Distribution Rates

The Pension Benefit Guaranty Corporation (PBGC) published a final rule (Final Rule) on September 9 providing that effective January 1, 2021, it will use the interest and mortality assumptions under Internal Revenue Code (Code)… more

Defined Benefit Plans, Distribution Rules, Employee Benefits, Internal Revenue Code (IRC), IRS

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Leslie DuPuy

San Francisco to Impose Tax on Companies with Disproportionate Executive Pay

San Francisco voters on November 3 approved Proposition L, which imposes an additional tax on businesses whose highest paid executive makes 100 times or more than the median salary of the business’s employees based in San… more

Ballot Measures, Business Taxes, Compensation & Benefits, Executive Compensation, New Legislation

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Timothy Durbin

IRS Proposes Regulations on Expanded Definition of Covered Employee Under Code Section 162m

Section 162(m) of the Internal Revenue Code prohibits a publicly held corporation from taking compensation-related tax deductions with respect to the compensation of a “covered employee” to the extent the compensation exceeds $1… more

Compensation & Benefits, Executive Compensation, Internal Revenue Code (IRC), IRS, Proposed Regulation

See all updates »

Saghi Fattahian

One Big Beautiful Bill: Impact on Welfare Benefits

President Donald Trump signed the One Big Beautiful Bill (OBBB) into law on July 4, 2025. The OBBB is a wide-ranging piece of legislation that introduces significant reforms across multiple areas of federal policy, including… more

Dependent Care, Employee Benefits, Employee Retirement Income Security Act (ERISA), Employer Group Health Plans, HDHP

See all updates »

Allison Fepelstein

One Big Beautiful Bill: Impact on Welfare Benefits

President Donald Trump signed the One Big Beautiful Bill (OBBB) into law on July 4, 2025. The OBBB is a wide-ranging piece of legislation that introduces significant reforms across multiple areas of federal policy, including… more

Dependent Care, Employee Benefits, Employee Retirement Income Security Act (ERISA), Employer Group Health Plans, HDHP

See all updates »

John Ferreira

SECURE 2.0 Simplifies Corporate Transactions with Mid-Year Termination Rules for SIMPLE IRA Plans

In connection with a merger, acquisition, or other corporate (M&A) transaction, buyers often face the dilemma of how to handle the seller’s existing retirement plans covering the continuing employees. Terminating a seller’s… more

Employee Benefits, Individual Retirement Account (IRA), Retirement, Retirement Plan, SECURE Act

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Laura Flores

Green and Bear It: SEC Proposes ESG Rules for Advisers and Registered Funds

In a 3-1 vote on May 25, 2022, the US Securities and Exchange Commission (SEC) approved a proposed environmental, social, and governance (ESG) rulemaking for investment advisers and funds. The proposed rule and form amendments… more

Corporate Governance, Environmental Social & Governance (ESG), Greenhouse Gas Emissions, Policies and Procedures, Proposed Amendments

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Kelly Gibson

Green and Bear It: SEC Proposes ESG Rules for Advisers and Registered Funds

In a 3-1 vote on May 25, 2022, the US Securities and Exchange Commission (SEC) approved a proposed environmental, social, and governance (ESG) rulemaking for investment advisers and funds. The proposed rule and form amendments… more

Corporate Governance, Environmental Social & Governance (ESG), Greenhouse Gas Emissions, Policies and Procedures, Proposed Amendments

See all updates »

Abbey Glenn

Assessing Your Health Plan’s Service Provider Compensation

Based on new ERISA disclosure rules, now is a good time to review the compensation paid to your health plan’s consultant and broker. ERISA Section 408(b)(2)(B) requires brokers and consultants expecting $1,000 or more in direct… more

Benefit Plan Sponsors, Department of Labor (DOL), Employee Benefits, Employee Retirement Income Security Act (ERISA), Employer Group Health Plans

See all updates »

Elizabeth Goldberg

DOL Rescinds Guidance on ERISA Plan Sponsor Vendor Diversity Program

The US Department of Labor (DOL) has withdrawn prior guidance from 2023 supporting racial equity programs aimed at increasing racial diversity in a plan’s asset manager pool. That prior guidance had provided comfort to plan… more

Benefit Plan Sponsors, Department of Labor (DOL), Diversity and Inclusion Standards (D&I), Employee Retirement Income Security Act (ERISA), Employment Discrimination

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Theresa Gomez

It’s (Really) Infrastructure Week

President Joseph Biden signed the Infrastructure Investment and Jobs Act (IIJA) into law on November 15, 2021. The IIJA will provide funding to overhaul the country’s physical infrastructure and will serve to give the nation’s… more

Defined Benefit Plans, Employee Benefits, Infrastructure Financing, Interest Rates, Internal Revenue Code (IRC)

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Alexandra Good

Delaware Court Signals Significant Change in Standard of Review of Executive Compensation Decisions for Controlled Companies

In a case of first impression, the Delaware Court of Chancery has held that the entire fairness standard of review applies to compensation decisions made with respect to controlled companies, absent implementation of specified… more

Corporate Counsel, Executive Compensation, First Impression, Standard of Review

See all updates »

Lindsay Goodman

One Big Beautiful Bill: Impact on Welfare Benefits

President Donald Trump signed the One Big Beautiful Bill (OBBB) into law on July 4, 2025. The OBBB is a wide-ranging piece of legislation that introduces significant reforms across multiple areas of federal policy, including… more

Dependent Care, Employee Benefits, Employee Retirement Income Security Act (ERISA), Employer Group Health Plans, HDHP

See all updates »

Michael Gorman

Dont Forget to Invite the Committee to the Party Fiduciary Committees as Parties to a Vendor Contract

In many situations, practitioners recommend establishing a fiduciary committee to oversee ERISA-covered employee benefit plans. There are several reasons for this, including providing a well-defined process for decision-making;… more

Benefit Plan Sponsors, Contract Terms, Employee Benefits, Employee Retirement Income Security Act (ERISA), Fiduciary Duty

See all updates »

Matthew Hawes

IRS Guidance on Uncashed and Reissued Checks: An Opportunity to Review Payment Practices

In a release that was fairly unsurprising in content, the Internal Revenue Service issued Revenue Ruling 2025-15 to address a payor’s tax withholding and reporting obligations with respect to stale and reissued retirement plan… more

Benefit Plan Sponsors, Internal Revenue Code (IRC), IRS, Reporting Requirements, Retirement Plan

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Brian Hector

SECURE Act 2.0: Impact on ESOPs

The SECURE 2.0 Act of 2022 (SECURE Act 2.0) makes far-reaching changes to the US retirement plan system. Our initial SECURE Act 2.0 LawFlash provided a general overview of its significant provisions. This blog post—one in our… more

Department of Labor (DOL), Employee Benefits, Employee Retirement Income Security Act (ERISA), ESOP, Labor Regulations

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Todd Hentges

Reminder: California Noncompete Deadline Is February 14

Besides being Valentine’s Day, February 14, 2024 is an important day for employers with any California employees: It is the last day for employers to notify California employees (including former employees who were employed… more

California, Employer Liability Issues, Employment Contract, Non-Compete Agreements, Restrictive Covenants

See all updates »

Mary Hevener

IRS Proposes Regulations on Expanded Definition of Covered Employee Under Code Section 162m

Section 162(m) of the Internal Revenue Code prohibits a publicly held corporation from taking compensation-related tax deductions with respect to the compensation of a “covered employee” to the extent the compensation exceeds $1… more

Compensation & Benefits, Executive Compensation, Internal Revenue Code (IRC), IRS, Proposed Regulation

See all updates »

Robert Hunter

Medicare Part D Creditable Coverage Online Disclosure Due March 1

Each year, employers that provide prescription drug coverage to Medicare-eligible individuals through a group health plan must complete a two-step process regarding the prescription drug coverage they offer to active employees… more

Centers for Medicare & Medicaid Services (CMS), Disclosure Requirements, Employee Benefits, Health Insurance, Medicare

See all updates »

Lindsay Jackson

DOL QPAM Notification Deadline of September 15 Fast Approaching

The amendments to the QPAM Exemption include a September 15, 2024 notification deadline that will apply to many asset managers. This blog post includes a brief summary of the US Department of Labor’s (DOL’s) recent technical… more

Department of Labor (DOL), Employee Benefits, Employee Retirement Income Security Act (ERISA), Exemptions, Individual Retirement Account (IRA)

See all updates »

Steven Johnson

Double Taxation, IRS Audits of Deferred Compensation Payments May Arise from IRS Instructions for 2023 Forms W-2,1040

Companies required to use “box 11” of Form W-2 in 2023 to report either payments of nonqualified deferred compensation (deferred compensation) or FICA taxation of unpaid deferred compensation may soon be challenged by employees… more

Deferred Compensation, Double Taxation, IRS, Tax Audits, W-2

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Emily Jordan

IRS Proposes Regulations on Expanded Definition of Covered Employee Under Code Section 162m

Section 162(m) of the Internal Revenue Code prohibits a publicly held corporation from taking compensation-related tax deductions with respect to the compensation of a “covered employee” to the extent the compensation exceeds $1… more

Compensation & Benefits, Executive Compensation, Internal Revenue Code (IRC), IRS, Proposed Regulation

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Naina Kamath

Latest Executive Order Could Redefine Retirement Investing

The US administration recently issued an executive order to expand access to alternative investments in ERISA-governed retirement accounts. The order titled Democratizing Access to Alternative Investments for America's Workers… more

401k, Department of Labor (DOL), Digital Assets, Employee Benefits, Employee Retirement Income Security Act (ERISA)

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Amy Pocino Kelly

Stick to the (ERISA) Plan

The backbone of a fiduciary’s duties is the written plan document: understanding the key terms and adhering to them provides a bulwark against fiduciary breach. ERISA Sections 402(a)(1) and 404(a)(1)(d) require that every… more

Breach of Duty, Employee Benefits, Employee Retirement Income Security Act (ERISA), Fiduciary Duty, Retirement

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Elizabeth Kennedy

Qualified Retirement Plan Sponsors: Don't Forget About Summary Plan Descriptions

While considering year-end tasks and planning for the upcoming year, qualified plan sponsors should think about whether they need to revise and/or reissue their summary plan descriptions (SPDs) in 2022… more

Benefit Plan Sponsors, Disclosure Requirements, Employee Benefits, Employee Retirement Income Security Act (ERISA), Employer Liability Issues

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Daniel Kleinman

Department of Labor Finalizes QPAM Exemption Amendment

The US Department of Labor (DOL) final amendment to Prohibited Transaction Class Exemption 84-14, the so-called QPAM Exemption that is commonly relied upon by investment managers for ERISA-governed employee benefit plans and… more

Department of Labor (DOL), Employee Benefits, Employee Retirement Income Security Act (ERISA), Exemptions, QPAM

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Marla Kreindler

Latest Executive Order Could Redefine Retirement Investing

The US administration recently issued an executive order to expand access to alternative investments in ERISA-governed retirement accounts. The order titled Democratizing Access to Alternative Investments for America's Workers… more

401k, Department of Labor (DOL), Digital Assets, Employee Benefits, Employee Retirement Income Security Act (ERISA)

See all updates »

Gina Lauriero

IRS Proposes Regulations on Expanded Definition of Covered Employee Under Code Section 162m

Section 162(m) of the Internal Revenue Code prohibits a publicly held corporation from taking compensation-related tax deductions with respect to the compensation of a “covered employee” to the extent the compensation exceeds $1… more

Compensation & Benefits, Executive Compensation, Internal Revenue Code (IRC), IRS, Proposed Regulation

See all updates »

Austin Lilling

Key Considerations for Management in Corporate Transactions: Perspectives from Management Team’s Counsel

In buyout or take private transactions, the management team of the target business is a key constituency that frequently—yet often unknowingly—requires legal counsel to advocate for its interests. The management team’s interests… more

Investment, Private Equity, Shareholders, Take-Private Transactions

See all updates »

Christine Lombardo

Green and Bear It: SEC Proposes ESG Rules for Advisers and Registered Funds

In a 3-1 vote on May 25, 2022, the US Securities and Exchange Commission (SEC) approved a proposed environmental, social, and governance (ESG) rulemaking for investment advisers and funds. The proposed rule and form amendments… more

Corporate Governance, Environmental Social & Governance (ESG), Greenhouse Gas Emissions, Policies and Procedures, Proposed Amendments

See all updates »

Timothy Lynch

Multiemployer Pension Relief Expected by March 14

The US Senate on March 6 passed the Butch Lewis Emergency Pension Plan Relief Act of 2021 (EPPRA) as part of the American Rescue Plan of 2021 (H.R. 1319), the Biden administration’s $1.9 trillion COVID-19 stimulus package… more

Biden Administration, Defined Contribution Plans, Employee Benefits, Legislative Agendas, Multiemployer Plan

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Rachel Mann

DOL Rescinds Guidance on ERISA Plan Sponsor Vendor Diversity Program

The US Department of Labor (DOL) has withdrawn prior guidance from 2023 supporting racial equity programs aimed at increasing racial diversity in a plan’s asset manager pool. That prior guidance had provided comfort to plan… more

Benefit Plan Sponsors, Department of Labor (DOL), Diversity and Inclusion Standards (D&I), Employee Retirement Income Security Act (ERISA), Employment Discrimination

See all updates »

Erin Martin

SEC Enforcement of Proxy Perquisite Disclosures

The Securities and Exchange Commission (SEC) is continuing its focus on disclosure of executive perquisites—and aircraft usage in particular—in registration statements, periodic reports, and proxy statements… more

Disclosure Requirements, Executive Compensation, Proxy Statements, Publicly-Traded Companies, Regulation S-K

See all updates »

William Marx

Withdrawal Liability Notice and Demand in Multiemployer Plans: Interpreting ‘As Soon as Practicable’ for Funds and Employers

A recent ruling by the US Court of Appeals for the Third Circuit serves provides a valuable reminder for multiemployer pension funds and contributing employers regarding ERISA’s withdrawal liability notice and demand… more

Employee Benefits, Employee Retirement Income Security Act (ERISA), Multiemployer Plan, Pensions, Retirement Plan

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Victoria McCaslin

Long Awaited ESOP Proposals Issued and Then Quickly Withdrawn

On January 20, 2025, an executive order froze two new pieces of proposed employee stock ownership plan (ESOP) guidance announced in a notice of proposed rulemaking and originally set for publication in the Federal Register on… more

Department of Labor (DOL), Employee Benefits, Employee Retirement Income Security Act (ERISA), ESOP, Executive Orders

See all updates »

Mathew McKenna

Assessing Your Health Plan’s Service Provider Compensation

Based on new ERISA disclosure rules, now is a good time to review the compensation paid to your health plan’s consultant and broker. ERISA Section 408(b)(2)(B) requires brokers and consultants expecting $1,000 or more in direct… more

Benefit Plan Sponsors, Department of Labor (DOL), Employee Benefits, Employee Retirement Income Security Act (ERISA), Employer Group Health Plans

See all updates »

Sean McMahan

US Supreme Court Bars Claims Involving Defined Benefit Plan Investments

In a 5-4 decision in Thole v. U.S. Bank N.A., the US Supreme Court has ruled that defined benefit plan participants lack Article III standing to sue for fiduciary breaches that do not harm the individual participants. As the… more

Article III, Breach of Duty, Defined Benefit Plans, Duty of Loyalty, Duty of Prudence

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Gregory Needles

IRS Issues Important Reminder on Application of IRC Section 415(c) Limit to 403(b) Plans

The Internal Revenue Service (IRS) issued an important reminder of the unique application of the limit under Internal Revenue Code (IRC) Section 415(c) to 403(b) plans on August 20, 2021. The IRS’s “Issue Snapshot” highlighted a… more

403(b) Plans, Benefit Plan Sponsors, Compensation & Benefits, Defined Contribution Plans, Employee Benefits

See all updates »

Jonathan Nowakowski

Green and Bear It: SEC Proposes ESG Rules for Advisers and Registered Funds

In a 3-1 vote on May 25, 2022, the US Securities and Exchange Commission (SEC) approved a proposed environmental, social, and governance (ESG) rulemaking for investment advisers and funds. The proposed rule and form amendments… more

Corporate Governance, Environmental Social & Governance (ESG), Greenhouse Gas Emissions, Policies and Procedures, Proposed Amendments

See all updates »

Mary A. Petrovic

Wait a Minute, Mister Postman: DOL Issues Annual Funding Notice Guidance

The US Department of Labor (DOL) has issued new guidance in the form of Field Assistance Bulletin No. 2025-02 (FAB 2025-02) and updated model annual funding notices (AFNs) for single-employer and multiemployer pension plans. FAB… more

Department of Labor (DOL), Disclosure Requirements, Employee Benefits, Employee Retirement Income Security Act (ERISA), Filing Requirements

See all updates »

Anna Pomykala

IRS Guidance on Uncashed and Reissued Checks: An Opportunity to Review Payment Practices

In a release that was fairly unsurprising in content, the Internal Revenue Service issued Revenue Ruling 2025-15 to address a payor’s tax withholding and reporting obligations with respect to stale and reissued retirement plan… more

Benefit Plan Sponsors, Internal Revenue Code (IRC), IRS, Reporting Requirements, Retirement Plan

See all updates »

Laurie Price

Medicare Part D Creditable Coverage Online Disclosure Due March 1

Each year, employers that provide prescription drug coverage to Medicare-eligible individuals through a group health plan must complete a two-step process regarding the prescription drug coverage they offer to active employees… more

Centers for Medicare & Medicaid Services (CMS), Disclosure Requirements, Employee Benefits, Health Insurance, Medicare

See all updates »

Erin Randolph-williams

What Public Companies Should Consider Since the NYSE and Nasdaq Have Issued Proposed Clawback Listing Standards

On October 26, 2022, the US Securities and Exchange Commission (SEC) announced the adoption of its new rules directing national securities exchanges, including the New York Stock Exchange (NYSE) and the Nasdaq Stock Market… more

Clawbacks, Incentive Based Contracts, Listing Standards, Nasdaq, New Rules

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Patrick Rehfield

Executive Compensation and Employee Benefits Fallout After Sweeping FTC Ban on Noncompetes: Part 3—Impact on Mergers and Acquisitions

This is the third part of a multi-part blog post series discussing the implications and fallout from the Final Rule recently adopted by the Federal Trade Commission (FTC), banning the enforcement of almost all noncompete… more

Acquisitions, Employee Benefits, Employer Liability Issues, Employment Contract, Executive Compensation

See all updates »

Emily Renshaw

SEC Enforcement of Proxy Perquisite Disclosures

The Securities and Exchange Commission (SEC) is continuing its focus on disclosure of executive perquisites—and aircraft usage in particular—in registration statements, periodic reports, and proxy statements… more

Disclosure Requirements, Executive Compensation, Proxy Statements, Publicly-Traded Companies, Regulation S-K

See all updates »

Michael Richman

DOL QPAM Notification Deadline of September 15 Fast Approaching

The amendments to the QPAM Exemption include a September 15, 2024 notification deadline that will apply to many asset managers. This blog post includes a brief summary of the US Department of Labor’s (DOL’s) recent technical… more

Department of Labor (DOL), Employee Benefits, Employee Retirement Income Security Act (ERISA), Exemptions, Individual Retirement Account (IRA)

See all updates »

Emily Rickard

Long Awaited ESOP Proposals Issued and Then Quickly Withdrawn

On January 20, 2025, an executive order froze two new pieces of proposed employee stock ownership plan (ESOP) guidance announced in a notice of proposed rulemaking and originally set for publication in the Federal Register on… more

Department of Labor (DOL), Employee Benefits, Employee Retirement Income Security Act (ERISA), ESOP, Executive Orders

See all updates »

Claire Rowland

SECURE 2.0 Simplifies Corporate Transactions with Mid-Year Termination Rules for SIMPLE IRA Plans

In connection with a merger, acquisition, or other corporate (M&A) transaction, buyers often face the dilemma of how to handle the seller’s existing retirement plans covering the continuing employees. Terminating a seller’s… more

Employee Benefits, Individual Retirement Account (IRA), Retirement, Retirement Plan, SECURE Act

See all updates »

Matthew Russell

US Supreme Court Agrees to Hear Recordkeeping Fees Case Against Cornell University

In 2017, several private universities were hit with ERISA class actions alleging various breaches of fiduciary duty and prohibited transactions—including claims that these universities’ defined contribution plans charged… more

Breach of Duty, Employee Benefits, Employee Retirement Income Security Act (ERISA), Fiduciary Duty, Retirement Plan

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Daniel Salemi

Transitioning to Post-SECURE 2.0 Pension Overpayment Recovery Practices

As we have previously discussed, the SECURE Act 2.0 of 2022 (SECURE 2.0) changed the game for plan sponsors when considering whether and how to recover retirement plan overpayments. The new rules provide welcome relief and… more

Employee Benefits, Employee Retirement Income Security Act (ERISA), Fiduciary Duty, Pensions, Retirement Plan

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Mark Simons

IRS Proposes to Make Remote Witnessing of Spousal Consents Permanent

The IRS proposed a revised version of Treas. Reg. § 1.401(a)-21 (the Proposed Regulation) that, if finalized, would make permanent the option of remote witnessing of required spousal consents to certain retirement plan… more

IRS, Proposed Regulation, Remote Depositions, Remote Hearings, U.S. Treasury

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Celia Soehner

NYSE, Nasdaq Set December 1, 2023 Compliance Date for Dodd-Frank Clawback Listing Standards

The New York Stock Exchange (NYSE) and Nasdaq, on June 5 and June 6, respectively, amended the proposed listing standards they previously submitted to the US Securities and Exchange Commission (SEC) to extend the compliance… more

Clawbacks, Dodd-Frank, NYSE, Rule 10D-1, Securities Exchange Act

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Julie Stapel

Latest Executive Order Could Redefine Retirement Investing

The US administration recently issued an executive order to expand access to alternative investments in ERISA-governed retirement accounts. The order titled Democratizing Access to Alternative Investments for America's Workers… more

401k, Department of Labor (DOL), Digital Assets, Employee Benefits, Employee Retirement Income Security Act (ERISA)

See all updates »

Stephen Tirrell

Latest Executive Order Could Redefine Retirement Investing

The US administration recently issued an executive order to expand access to alternative investments in ERISA-governed retirement accounts. The order titled Democratizing Access to Alternative Investments for America's Workers… more

401k, Department of Labor (DOL), Digital Assets, Employee Benefits, Employee Retirement Income Security Act (ERISA)

See all updates »

R. Randall Tracht

Retirement Plans: Bona Fide Job-Based Exclusion or Impermissible Service Condition?

Employers utilizing class-based criteria to exclude employees from retirement plan participation face new issues and considerations following the adoption of the long-term part-time employee (LTPTE) rules in SECURE 1.0 and… more

401k, 403(b) Plans, Employee Benefits, Employee Retirement Income Security Act (ERISA), Retirement

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Patrick Trunzo

Approving QDROs During Court and Government Office Closures

Due to widespread court closures as a result of the coronavirus (COVID-19) pandemic, it may be difficult for participants or their attorneys to obtain a certified copy of a domestic relations order that many retirement plans… more

Beneficiary Designations, Coronavirus/COVID-19, Employee Benefits, QDRO, Retirement Plan

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Linda Way-Smith

Guidance on Distributions for Emergency Personal Expense and Domestic Abuse Victims

The Internal Revenue Service (IRS) released a notice providing guidance on distributions for emergency personal expense and domestic abuse victims under the SECURE 2.0 Act of 2022 (SECURE 2.0). Both distributions are optional,… more

Domestic Violence, Employee Benefits, Hardship Distributions, IRS, Retirement

See all updates »

Gaeun Yoo

Dont Forget to Invite the Committee to the Party Fiduciary Committees as Parties to a Vendor Contract

In many situations, practitioners recommend establishing a fiduciary committee to oversee ERISA-covered employee benefit plans. There are several reasons for this, including providing a well-defined process for decision-making;… more

Benefit Plan Sponsors, Contract Terms, Employee Benefits, Employee Retirement Income Security Act (ERISA), Fiduciary Duty

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Mims Maynard Zabriskie

IRS Proposes Regulations on Expanded Definition of Covered Employee Under Code Section 162m

Section 162(m) of the Internal Revenue Code prohibits a publicly held corporation from taking compensation-related tax deductions with respect to the compensation of a “covered employee” to the extent the compensation exceeds $1… more

Compensation & Benefits, Executive Compensation, Internal Revenue Code (IRC), IRS, Proposed Regulation

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David Zelikoff

Executive Compensation and Employee Benefits Fallout After Sweeping FTC Ban on Noncompetes: Part 4—Timing of Taxation under Code Sections 83, 3121(v), and 457(f)

This is the fourth part of a multi-part blog post series discussing the implications and fallout from the Final Rule recently adopted by the Federal Trade Commission (FTC) banning the enforcement of almost all noncompete… more

Employer Liability Issues, Employment Contract, Federal Trade Commission (FTC), Final Rules, Internal Revenue Code (IRC)

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Jonathan Zimmerman

Plan Sponsors and Administrators: Prepare for the End of the COVID-19 Emergency

The Biden administration intends to end the national emergency and public health emergency declarations (Emergency Declarations) attributable to the COVID-19 pandemic on May 11, 2023. The COVID-19 pandemic brought multiple… more

Benefit Plan Sponsors, Coronavirus/COVID-19, Employee Benefits, Employee Retirement Income Security Act (ERISA), Employer Group Health Plans

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Megan Zimmerman

One Big Beautiful Bill: Impact on Welfare Benefits

President Donald Trump signed the One Big Beautiful Bill (OBBB) into law on July 4, 2025. The OBBB is a wide-ranging piece of legislation that introduces significant reforms across multiple areas of federal policy, including… more

Dependent Care, Employee Benefits, Employee Retirement Income Security Act (ERISA), Employer Group Health Plans, HDHP

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