McDermott Will & Emery
Subscribe to McDermott Will & Emery's PostsDOL 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.
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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...
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IRS Issues Procedures for Securing Favorable Opinions on Pre-Approved 403(b) Programs
By McDermott Will & Emery on Apr 25, 2013
Posted In Retirement Plans
by Mary K. Samsa, Todd A. Solomon and Joseph K. Urwitz The Internal Revenue Service (IRS) recently released a revenue procedure establishing a new program for the pre-approval of 403(b) plans. The program opens June 28, 2013, and the IRS will begin accepting applications for opinion and advisory letters on whether the form of prototype...
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ACA Guidance on 90-Day Waiting Periods and Certificates of Creditable Coverage
By McDermott Will & Emery on Apr 16, 2013
Posted In Health and Welfare Plans
by Amy M. Gordon, Jamie A. Weyeneth and Megan Mardy Recently issued Affordable Care Act guidance clarifies the prohibition on waiting periods in excess of 90 days and eliminates the requirement to issue HIPAA group health plan certificates of creditable coverage after December 31, 2014. To read the full article, click here.
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Final Rule Implementing FMLA Amendments Expands Protections for Military Families and Airline Flight Crews
By McDermott Will & Emery on Apr 11, 2013
Posted In Employment, Health and Welfare Plans
by Stephen D. Erf, Heather Egan Sussman and Sabrina E. Dunlap The U.S. Department of Labor recently issued a final rule implementing new expanded rights for families of military members and veterans, and greater access to Family and Medical Leave Act (FMLA) leave for airline flight crews. Companies should review and update their FMLA policies...
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UK Employment Alert: Increase in Employment Protection Awards
By McDermott Will & Emery on Apr 9, 2013
Posted In Employment
by Katie Clark and Paul McGrath The compensation limits on Tribunal awards will increase as of 1 February 2013. The key changes are set out below. Statutory Redundancy Pay The maximum amount permitted for calculation of a week’s pay will rise from £430 to £450; the maximum entitlement to Statutory Redundancy Pay will therefore rise...
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New Regulations Pave The Way for Increased Employee Owned Companies
By McDermott Will & Emery on Apr 4, 2013
Posted In Employment
by Hugh Nineham and Tara Walsh The UK Department for Business, Innovation and Skills (BIS) published on 4 July 2012 the final report from the Nuttall Review of Employee Ownership (the Nuttall Review). It identifies a number of barriers to the creation and uptake of employee ownership arrangements. The Nuttall Review identified significant economic and...
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DOL Issues Guidance on MAP-21 Annual Funding Notice Requirements
By McDermott Will & Emery on Apr 2, 2013
Posted In Retirement Plans
by Anne S. Becker, Stephen Pavlick and Kary Crassweller The U.S. Department of Labor (DOL) recently issued guidance on the new disclosure requirements for single-employer defined benefit plans under the Moving Ahead for Progress in the 21st Century Act (MAP-21). Plan administrators of single-employer defined benefit plans that meet certain requirements must disclose the effect...
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New HIPAA Regulations Require Action by Group Health Plans
By McDermott Will & Emery on Mar 19, 2013
Posted In Health and Welfare Plans, Privacy and Data Security
by Amy M. Gordon and Jamie A. Weyeneth Final HIPAA privacy and security regulations issued by the U.S. Department of Health and Human services will require action by group health plan sponsors by September 2013. To read the full article, click here.
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OCR Issues Final Modifications to the HIPAA Privacy, Security, Breach Notification and Enforcement Rules to Implement the HITECH Act
By McDermott Will & Emery on Mar 7, 2013
Posted In Privacy and Data Security
by Bernadette Broccolo, Daniel F. Gottlieb, Jennifer S. Geetter, Ryan S. Higgins, Amy Hooper Kearbey and Edward G. Zacharias The Office for Civil Rights of the U.S. Department of Health and Human Services published final modifications to the privacy, security and breach notification standards under HIPAA and the HITECH Act, which require covered entities and business...
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