McDermott Will & Emery
Subscribe to McDermott Will & Emery's PostsAnnouncements at Town Hall Meetings Can Create Enforceable Individual Contractual Entitlements
By McDermott Will & Emery on Jul 2, 2013
Posted In Employment
by Katie Clark and Paul McGrath In Dresdner Kleinwort and Commerzbank v Attrill & others, the Court of Appeal of England and Wales has upheld a High Court decision that 104 former employees were contractually entitled to bonuses totaling more than £50 million. Significantly for employers, the entitlement arose out of an announcement made by...
Continue Reading
Supreme Court Ruling on DOMA Could Lead to Refunds of Federal Taxes
By McDermott Will & Emery on Jun 20, 2013
Posted In Employment
by Todd A. Solomon, Ruth Wimer and Brian J. Tiemann Employers providing benefits for employees’ same-sex spouses may want to consider the availability of federal payroll tax refunds if the Supreme Court of the United States finds Section 3 of the Defense of Marriage Act (DOMA) unconstitutional. Employers currently must impute income to an employee...
Continue Reading
Webcast – DOMA and Proposition 8: Immediate Implications for Employee Benefit Plan Sponsors
By McDermott Will & Emery on Jun 19, 2013
Posted In Employee Benefits, Employment
July 2, 2013 11:00 am – 12:00 pm EDT To register, click here. As a result of the federal Defense of Marriage Act (DOMA), same-sex relationships have not been recognized for any purpose under any federal law, including the Employee Retirement Income Security Act, the Internal Revenue Code and COBRA. Historically, this has created significant implications for...
Continue Reading
Final ACA Wellness Rules Issued
By McDermott Will & Emery on Jun 6, 2013
Posted In Health and Welfare Plans
by Amy Gordon and Jamie Weyeneth On May 29, the U.S. Departments of the Treasury, Labor (DOL) and Health and Human Services issued final regulations amending the 2006 HIPAA nondiscrimination wellness regulations to implement the employer wellness program provisions of the Affordable Care Act. In their article “Final ACA Wellness Rules Issued,” published by Employee...
Continue Reading
Update on The Proposed European Cap on Bank Bonuses
By McDermott Will & Emery on May 29, 2013
Posted In Employment
by Katie Clark and James Noble Following recent discussions on this topic, lawmakers in the European Parliament have now adopted legislation intended to cap the value of bonuses paid to certain bank staff. Background The measure forms part of the Capital Requirements Directive IV package of reforms implementing the Basel III regulatory framework, which aims...
Continue Reading
Notice of Coverage Options Available Through the Exchanges
By McDermott Will & Emery on May 23, 2013
Posted In Health and Welfare Plans
by Amy M. Gordon On May 8, 2013, the U.S. Department of Labor (DOL) published Technical Release No. 2013-02, which provides temporary guidance addressing the Patient Protection and Affordable Care Act’s (ACA) required notice to employees regarding their coverage options under state and federally facilitated health insurance exchanges (Exchanges). As part of the ACA, an...
Continue Reading
Favorable Temporary ACA Exemption for Expatriate Health Plans
By McDermott Will & Emery on May 21, 2013
Posted In Health and Welfare Plans
by Amy M. Gordon, Megan Mardy and Todd A. Solomon Recently issued guidance addresses the unique compliance issues surrounding expatriate health plans under the Patient Protection and Affordable Care Act of 2010, as amended by the Health Care and Education Reconciliation Act of 2010 (ACA). To read the full article, click here.
Continue Reading
Employers Should Review How Plan Documents Define Spouse in Light of Recent Benefits Litigation
By McDermott Will & Emery on May 14, 2013
Posted In Health and Welfare Plans, Retirement Plans
by Lisa K. Loesel, Todd A. Solomon, Jacob Mattinson and Brian J. Tiemann Two recent cases challenging benefit eligibility for same-sex spouses highlight the need for employer-sponsored retirement and welfare plans to clearly define "spouse" for eligibility purposes. Employers may want to review their plan documents to determine whether plan amendments are needed to clarify...
Continue Reading
DOL Releases Informal Guidance Addressing Fiduciary Responsibilities With Respect to Target Date Funds
By McDermott Will & Emery on May 7, 2013
Posted In Retirement Plans
by Joseph S. Adams, Anne S. Becker, Karen A. Simonsen and Ashley McCarthy Recent U.S. Department of Labor (DOL) guidance underscores the need for plan fiduciaries to rigorously examine and monitor target date fund (TDFs), and potentially explore the use of custom or non-proprietary TDFs. To read the full article, click here.
Continue Reading
Employee-Shareholder Status
By McDermott Will & Emery on Apr 30, 2013
Posted In Employment
by Katie Clark and Richard Cook On October 8, 2012, George Osborne announced that the UK Government was proposing a new type of employment contract, dubbed the “employee-shareholder” contract. The proposals were designed to allow employers to offer their employees shares in the business, at a minimum value of £2,000. In exchange, the employee would forgo...
Continue Reading
