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One day before an updated rule of the US Department of Health and Human Services regarding Section 1557 of the Patient Protection and Affordable Care Act took effect, the US District Court for the Eastern District of New York ordered a stay and issued a preliminary injunction precluding the most recent final rules from becoming […]

The post “Because of Bostock” – Court Delays HHS Rule Re-interpreting Section 1557 Discrimination “Because of Sex” appeared first on EMPLOYEE BENEFITS BLOG.

https://www.employeebenefitsblog.com/2020/08/because-of-bostock-court-delays-hhs-rule-re-interpreting-section-1557-discrimination-because-of-sex/

Earlier this year, the US Pension Benefit Guaranty Corporation (PBGC) issued a final rule, modifying PBGC regulations that apply to defined benefit pension plans. Among those changes were revisions to: (i) the reportable event notification requirements; (ii) annual financial and actuarial information (Form 4010) reporting; (iii) single-employer plan termination rules; and (iv) the premium rate […]

The post Updated PBGC Guidance for Defined Benefit Plans appeared first on EMPLOYEE BENEFITS BLOG.

https://www.employeebenefitsblog.com/2020/08/updated-pbgc-guidance-for-defined-benefit-plans/

The employment and business decisions made by employers under the specter of the unprecedented COVID-19 pandemic are now being tested by plaintiffs’ lawyers. Employers of all sizes should expect a flood of employment litigation alongside ever-changing conditions, constantly updated guidance and, at times, conflicting state and local guidance. Litigation avoidance will require a team effort and proactive communication – both internally and externally. This article outlines the types […]

The post How to Build COVID-19 Employment Litigation Defenses Now appeared first on EMPLOYEE BENEFITS BLOG.

https://www.employeebenefitsblog.com/2020/08/how-to-build-covid-19-employment-litigation-defenses-now/

McDermott’s Rick Pearl took part in the NCEO 2020 Employee Ownership Virtual Conference. In his presentation, Pearl gave an overview of ERISA standards for an ESOP transaction, discussed fair market value, and whether the US Department of Labor and some courts are getting it wrong. Access the presentation.

The post Fair Market Value: Are DOL & Some Courts Wrong? appeared first on EMPLOYEE BENEFITS BLOG.

https://www.employeebenefitsblog.com/2020/08/fair-market-value-are-dol-courts-wrong/

The COVID-19 Global Guide for Business provides employers with the latest information on returning to work. Nations around the world are struggling to reopen amid the coronavirus pandemic, and government responses to COVID-19 differ significantly based on local laws, culture, politics and the severity of the outbreak. Legal professionals in 50+ countries contributed to this […]

The post COVID-19 Global Guide for Business Provides Important Information for Employers about Reopening appeared first on EMPLOYEE BENEFITS BLOG.

https://www.employeebenefitsblog.com/2020/08/covid-19-global-guide-for-business-provides-important-information-for-employers-about-reopening/

Employers considering President Trump’s plan to allow deferred payment of payroll taxes face a series of costs, uncertainties and headaches. The president wants employers to stop collecting the 6.2% levy that is the employee share of Social Security taxes for many workers, starting September 1 and going through the end of the year. The president’s […]

The post Employers Cast Wary Eye on President Trump’s Deferral of Payroll Tax appeared first on EMPLOYEE BENEFITS BLOG.

https://www.employeebenefitsblog.com/2020/08/employers-cast-wary-eye-on-president-trumps-deferral-of-payroll-tax/

A significant issue facing many business owners is the impact of underfunded multiemployer pension plans. This is most common, but not exclusive to, unionized businesses. McDermott Partner and Global Head of the Firm’s Employee Benefits and Executive Compensation Practice Group Todd Solomon joins Domenic Rinaldi, owner and managing partner of Sun Acquisitions, for a recent episode of […]

The post Multiemployer Pension Plans: Addressing the Issue of Underfunding appeared first on EMPLOYEE BENEFITS BLOG.

https://www.employeebenefitsblog.com/2020/08/multiemployer-pension-plans-addressing-the-issue-of-underfunding/

The most obvious potential conflict of interest for advisers setting up or serving pooled employer plans is if their practice is affiliated with the investments being selected—but there are other potential pitfalls to acknowledge. In a recent article, Erin Turley, a partner with McDermott Will & Emery, said a potential conflict of interest for advisers […]

The post How Advisers Serving MEPs and PEPs Can Be Conflicted appeared first on EMPLOYEE BENEFITS BLOG.

https://www.employeebenefitsblog.com/2020/08/how-advisers-serving-meps-and-peps-can-be-conflicted/

The Employee Retirement Income Security Act of 1974 (ERISA) requires plan fiduciaries to act prudently and loyally when making decisions about the plan. In Martin v. CareerBuilder, LLC, a federal district court held that the complaint’s allegations about expensive recordkeeping costs and imprudent investment options failed to give rise to an inference that the defendants […]

The post Illinois Federal Court Dismisses ERISA Claims Against 401(k) Fiduciaries appeared first on EMPLOYEE BENEFITS BLOG.

https://www.employeebenefitsblog.com/2020/08/illinois-federal-court-dismisses-erisa-claims-against-401k-fiduciaries/

Some essential workers are refusing to go to work out of fear of contracting COVID-19. Their employers must weigh the employees’ legal rights and understandable health concerns with the organizations’ business needs. It can be a tough balancing act. In a recent article, McDermott Partner Pankit Doshi said employers may relax documentation requirements due to […]

The post What to Do When Scared Workers Do Not Respond to Work Due to COVID-19 appeared first on EMPLOYEE BENEFITS BLOG.

https://www.employeebenefitsblog.com/2020/08/what-to-do-when-scared-workers-do-not-respond-to-work-due-to-covid-19/