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By McDermott Will & Emery on Oct 23, 2012
Posted In Health and Welfare Plans, Retirement Plans
by Jeffrey Holdvogt, Diane Morgenthaler and Adrienne Walker Porter The Internal Revenue Service recently announced cost-of-living adjustments (COLA) to the applicable dollar limits on various employer-sponsored retirement and welfare plans for 2013. Although many dollar limits currently in effect for 2012 will change, some limits will remain unchanged for 2013. McDermott Will & Emery has...
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Italian Data Protection Authority’s Guide on Cloud Computing
By McDermott Will & Emery on Oct 17, 2012
Posted In Privacy and Data Security
by Martino Sforza The Italian Data Protection Authority (DPA) has published a guide on cloud computing, "How to Protect Your Data Without Falling From a Cloud," which contains useful recommendations on how to select and appoint cloud providers and vendors of data management and storage services. This is the first official guidance issued by the...
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New Guidance on Form 8889 for Health Savings Accounts
By McDermott Will & Emery on Oct 16, 2012
Posted In Health and Welfare Plans
by Amy M. Gordon and Susan Nash The Internal Revenue Service (IRS) has released the 2012 version of Form 8889 (Health Savings Accounts [HSA]) and its Instructions. The Form 8889 is filed by HSA holders as an attachment to the IRS Form 1040. The Form 8889 is generally used to report contributions and distributions to...
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Seminar Reminder – Myths and Misconceptions Dispelled
By McDermott Will & Emery on Oct 3, 2012
Posted In Employment
Thursday, October 4, 2012 8:45 a.m.: Registration and breakfast 9.00 – 10.30 a.m.: Employment Seminar McDermott Will & Emery UK LLP Heron Tower 110 Bishopsgate London EC2N 4AY View map To register to join the seminar, please click here. We are pleased to invite you to attend the London Employment Group’s third breakfast seminar of...
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Quality Stores Decision Could Lead to Significant Refunds of FICA Tax
By McDermott Will & Emery on Sep 26, 2012
Posted In Benefit Controversies, Employment
by Ira B. Mirsky, David E. Rogers and Ruth Wimer The U.S. Court of Appeals for the Sixth Circuit recently held that certain dismissal payments were Supplemental Unemployment Compensation Benefits (SUB) exempt from FICA taxes—a clear split with the U.S. Court of Appeals for the Federal Circuit’s decision in line with an Internal Revenue Service...
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December 31 Deadline to Update Severance, Employment and Change in Control Agreements
By McDermott Will & Emery on Sep 11, 2012
Posted In Employment, Executive Compensation
by Jonathan J. Boyles Agreements that require a release or other signed document from an employee before payment should be reviewed to ensure compliance with Code Section 409A guidance. Transition relief ends on December 31, 2012, and the penalties for noncompliance can be harsh. Employers that conducted a fulsome Code Section 409A review in 2007...
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Medical Loss Ratio Refunds
By McDermott Will & Emery on Aug 9, 2012
Posted In Health and Welfare Plans
by Amy M. Gordon, Susan M. Nash and Jamie A. Weyeneth If you are an employer that sponsors a fully insured medical plan option for your employees, and you had that fully insured medical plan option in place for the 2011 calendar year, you may be eligible for a Medical Loss Ratio rebate. To read...
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DOL Revises Guidance on Participant Fee Disclosures for Brokerage Window Investments
By McDermott Will & Emery on Aug 8, 2012
Posted In Fiduciary and Investment Issues, Retirement Plans
by Diane M. Morgenthaler, Elizabeth A. Savard and Maggie McTigue The U.S. Department of Labor (DOL) recently issued new and welcome guidance for fiduciaries of account-based retirement plans by withdrawing its controversial guidance on fee disclosures for brokerage windows, self-directed brokerage accounts and similar arrangements (SDBAs). For now, the DOL has reverted to its prior...
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Participant Fee Disclosure: Top 10 List of Issues to Consider
By McDermott Will & Emery on Jul 17, 2012
Posted In Labor, Retirement Plans
by Nancy S. Gerrie, Natalie M. Nathanson, Todd A. Solomon and Lisa K. Loesel The new 401(k) participant fee disclosure rules issued by the U.S. Department of Labor require plan administrators with calendar year plans to send disclosures to plan participants by August 30, 2012. The top 10 things to consider in complying with the...
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FTC: Employers Who Buy Profiles from Data Brokers to Supply Profiles on Applicants or Employees Must Comply with the FCRA
By McDermott Will & Emery on Jul 3, 2012
Posted In Privacy and Data Security
by Jennifer S. Geetter, Heather Egan Sussman and Carla A. R. Hine We recently released a Hot Topic that details the Federal Trade Commission’s (FTC) settlement with Spokeo, Inc. Spokeo collected information about individuals from online and offline sources to create profiles that included contact information, marital status, age range and in some cases included...
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