A multiemployer plan that prevails in an action to collect delinquent contributions or withdrawal liability is statutorily entitled to recover reasonable attorneys’ fees and costs “of the action.” In International Painters &…
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/ Civil Procedure, Civil Remedies, Labor & Employment Law
On May 22, 2025, the House of Representatives passed legislation titled “The One Big Beautiful Bill Act” (the “House Bill”) (available here), which includes several tax reform provisions. The House Bill is now being considered…
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/ Labor & Employment Law, Nonprofit Law, Taxation
On May 28, 2025, the Department of Labor (“DOL”) issued Compliance Assistance Release No. 2025-01 which rescinds the DOL’s prior Compliance Assistance Release No. 2022-1 which had warned 401(k) plan fiduciaries against adding…
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/ Administrative Law, Labor & Employment Law, Finance & Banking
Companies are increasingly allowing their chief executive officers and, in certain circumstances, other executives to use corporate jets (which may be chartered flights or fractionally or fully owned aircraft) for personal use…
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/ Business Organizations, Securities Law, Taxation
In Lawson v. Spirit AeroSystems, Inc., the U.S. Court of Appeals for the Tenth Circuit upheld the forfeiture of certain stock awards for violating a covenant not to compete. Like the Seventh Circuit in LKQ Corp. v…
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/ Commercial Law & Contracts, Labor & Employment Law
Yesterday, the Departments of Labor, Treasury, and Health and Human Services announced a non-enforcement policy with respect to final regulations issued under the Mental Health Parity and Addiction Equity Act of 2008 (“MHPAEA”)…
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/ Administrative Law, Health, Insurance
A federal district court in Illinois became the first court to rule that an employer’s credit for a prior partial withdrawal should be applied at the end of the statute’s “waterfall” for calculating withdrawal liability. The…
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/ Administrative Law, Alternative Dispute Resolution (ADR), Labor & Employment Law
We recently reported on a district court decision holding that the Central States Pension Fund’s calculation of withdrawal liability should not have included contribution rate increases imposed after the Fund’s implementation of…
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/ Civil Procedure, Labor & Employment Law
In Central States, Southeast & Southwest Areas Pension Fund v. Sheets Enterprise, No. 24 cv 2277 (N.D. Ill.), a district court held that an employer could not avoid being held liable for withdrawal liability simply because it…
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/ Business Organizations, Civil Procedure, Conflict of Laws, Labor & Employment Law
In a unanimous decision, the U.S. Supreme Court ruled in Cunningham v. Cornell University that plaintiffs can satisfy the requirements for pleading prohibited party-in interest transactions under ERISA section 406(a) without…
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/ Business Torts, Civil Procedure, Labor & Employment Law
Like any for-profit company, nonprofit organizations want to attract and retain high caliber executives to achieve and further their missions. To accomplish this, a nonprofit organization may have to offer a particularly robust…
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/ Labor & Employment Law, Nonprofit Law, Taxation
Following up on our recent blog post, SECURE 2.0’s Required Changes to Annual Funding Notice Become Effective in 2025, the Department of Labor released Field Assistance Bulletin 2025-02 on April 3, which addresses compliance…
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/ Administrative Law, Labor & Employment Law, Taxation
Starting March 17, 2025, the Employee Benefits Security Administration’s Voluntary Fiduciary Correction Program (“VFCP”) will have a “self-correction” option. Although the new option eliminates the need to wait for formal…
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/ Labor & Employment Law, Taxation
In late October 2024, the United States Court of Appeals for the Eleventh Circuit ruled in Romano v. Hancock Life Insurance Company, F.4th 729 (11th Cir. 2024) that certain foreign tax credits that were generated as a result of…
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/ Finance & Banking, Insurance, Labor & Employment Law, Taxation
SECURE 2.0 introduced many changes for retirement plans, including updated disclosure requirements for a defined benefit plan’s annual funding notice (AFN). These updated AFN disclosure requirements apply for all plan years…
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/ Labor & Employment Law, Taxation
