McDermott Will & Emery
Subscribe to McDermott Will & Emery's PostsEffective Employee Suspension Agreements to Facilitate Compliance Investigations
By McDermott Will & Emery on Jul 10, 2015
Posted In Employment
The proper handling of employees who are under investigation, is crucial to ensuring effective compliance investigations that minimize disruption to the organization. The first step often involves entering into a suspension agreement with employees whose conduct is being investigated. Read the full article.
Continue Reading
Fiduciary Risks Involved in Transferring Assets from a Seller’s 401(k) Plan to the Buyer’s Plan
By McDermott Will & Emery on Jun 2, 2015
Posted In Benefit Controversies, Fiduciary and Investment Issues, Health and Welfare Plans, Retirement Plans
In many transactions, particularly those where the buyer is a portfolio company of a private equity fund, the buyer agrees to cause its 401(k) plan to accept a transfer of assets from the seller’s 401(k) plan. The asset transfer from the seller’s plan provides the buyer’s with an asset base with which to negotiate the...
Continue Reading
IRS Issues Q&As on Information Reporting under Code Section 6055 and 6056
By McDermott Will & Emery on May 22, 2015
Posted In Health and Welfare Plans
Yesterday the U.S. Internal Revenue Service issued new Questions & Answers regarding the Affordable Care Act’s reporting rules under Code Section 6055 and 6056. The categories under the guidance include: Basics of the Reporting, Who is Required to Report, Methods of Reporting (for employers), What Information Must be Reported (for providers), and How and When to...
Continue Reading
Supreme Court Acknowledges Fiduciaries Have Continuous Duty to Monitor Plan Investments, Remove Imprudent Investments
By McDermott Will & Emery on May 21, 2015
Posted In Fiduciary and Investment Issues, Retirement Plans
On May 18, 2015, the Supreme Court of the United States issued its opinion in the Tibble v. Edison Int’l, 575 U.S. ___ (2015) case, finding that the U.S. Court of Appeals for the Ninth Circuit erred in applying the six-year statutory bar in the Employee Retirement Income Security Act (ERISA) to plaintiff’s claim alleging...
Continue Reading
McDermott’s Todd Solomon Discusses Same-Sex Employee Benefits with the Wall Street Journal
By Diane Morgenthaler and McDermott Will & Emery on May 14, 2015
Posted In Benefit Controversies, Employee Benefits, Employment, Executive Compensation, Fiduciary and Investment Issues, Health and Welfare Plans, Retirement Plans
As the U.S. Supreme Court weighs whether gay couples are constitutionally entitled to marry, more companies in states with marriage equality have begun to mandate that gay employees marry in order to maintain benefits, including health care coverage. In a recent interview with the Wall Street Journal, McDermott partner Todd Solomon discusses the shifting terrain...
Continue Reading
UK Employment Alert: Holiday Pay – The Case Continues
By McDermott Will & Emery on Apr 16, 2015
Posted In Employment
In the latest in a long-running series of cases on holiday pay, the Employment Tribunal has handed down its first judgment in Lock v British Gas Trading Limited. This judgment confirms the principle that workers paid commission should receive holiday pay at a rate reflecting normal income, which can include commission, rather than basic salary...
Continue Reading
SEC No-Action Letter Permits Non-ERISA Retirement Plans to Issue Participant Fee Disclosures Without Violating Securities Laws
By McDermott Will & Emery, Brian Tiemann and Todd Solomon on Mar 26, 2015
Posted In Retirement Plans
The U.S. Securities and Exchange Commission (SEC) issued a no-action letter on February 18, 2015, that extends relief from SEC Rule 482 to sponsors of certain retirement plans exempt from ERISA. The relief permits sponsors of non-ERISA plans to follow final U.S. Department of Labor regulations for participant-level fee disclosures, provided the sponsor complies with...
Continue Reading
C-Suite – Changing Tack on the Sea of Data Breach?
By McDermott Will & Emery on Mar 24, 2015
Posted In Employment, Privacy and Data Security
The country awoke to what seems to be a common occurrence now: another corporation struck by a massive data breach. This time it was Anthem, the country’s second largest health insurer, in a breach initially estimated to involve eighty million individuals. Both individuals’ and employees’ personal information is at issue, in a breach instigated by...
Continue Reading
A Simplified Norm to Represent an Expanding Power: the Right to Listen in on Employees’ Phone Calls and the Standardization of French Privacy Law
By McDermott Will & Emery on Feb 12, 2015
Posted In Employment, Privacy and Data Security
Since 2001, the French Court of Cassation has made a continuous effort to refine and, in some circumstances, narrow the scope of the right to privacy in the workplace with a view to reaching a fair and balanced approach. The January 6, 2015 declaration of the French Data Protection Authority (CNIL) further highlights this trend towards the...
Continue Reading
Changes to IRS Form for Qualified Adoption Expenses
By McDermott Will & Emery on Jan 27, 2015
Posted In Employment
The Internal Revenue Service (IRS) has released the 2014 version of Form 8839 (Qualified Adoption Expenses), as well as updated instructions. Taxpayers use Form 8839 to claim the adoption credit, an exclusion for employer-provided adoption benefits, or both. Changes to the 2014 form and instructions include the following: The maximum adoption credit and exclusion amounts have been adjusted...
Continue Reading
