McDermott Will & Emery
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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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Health Care Reform – What Happens Now that the Supreme Court has Decided to Uphold the Mandate?
By McDermott Will & Emery on Jun 28, 2012
Posted In Health and Welfare Plans
by Amy M. Gordon, Susan M. Nash and Maureen O’Brien On June 28, 2012, the Supreme Court upheld the most significant provisions of the Patient Protection and Affordable Care Act (the Act), including the controversial individual mandate. The vote was 5-4 and the majority opinion was written by Chief Justice John Roberts. Ironically, the justices concluded...
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Sixth Circuit Requires a Net Loss to Sue in Certain ERISA Stock-Drop Cases
By McDermott Will & Emery on Jun 21, 2012
Posted In Retirement Plans
by John A. Litwinski and Chris C. Scheithauer Recently, the U.S. Court of Appeals for the Sixth Circuit held that a 401(k) plan participant who sued under the Employee Retirement Income Security Act (ERISA) for losses in connection with a company stock fund that suffered a drop must show losses on a “net basis” during...
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New DOL Guidance Amplifies Participant Fee Disclosure Rules
By McDermott Will & Emery on Jun 20, 2012
Posted In Retirement Plans
by Elizabeth A. Savard, Karen A. Simonsen and Lisa K. Loesel For most defined contribution plans, initial annual fee disclosures are due to participants by August 30, 2012. In order to facilitate compliance with the new fee disclosure rules, the U.S. Department of Labor recently issued Field Assistance Bulletin 2012-02, which provides helpful commentary on...
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Recent Case Highlights Split of Authority on Whether Corporate Agreements Can Amend Employee Benefit Plans
By McDermott Will & Emery on May 24, 2012
Posted In Employment, Health and Welfare Plans
by Paul J. Compernolle, Michael T. Graham and Maggie McTigue The U.S. Court of Appeals for the Fifth Circuit recently held that a paragraph in an asset purchase agreement qualified as an amendment to an employee benefit plan, highlighting a split between circuits of the U.S. Courts of Appeal. Click here to read the full...
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EEOC Issues Guidance on Use of Criminal Background Checks in Employment Decisions
By McDermott Will & Emery on May 3, 2012
Posted In Employment
by Heather Egan Sussman, Stephen D. Erf and Sabrina Dunlap On April 25, 2012, the U.S. Equal Employment Opportunity Commission (EEOC) issued new guidance for employers on using arrest and conviction records when making employment decisions. The guidance, which is available here, passed by a 4-1 vote of EEOC commissioners, and consolidates and supersedes the...
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JOBS Act Lightens Exec Comp Disclosure Burden
By McDermott Will & Emery on May 1, 2012
Posted In Executive Compensation
by Andrew C. Liazos Well, for emerging growth companies, at least. The new law also exempts such firms — which are planning an IPO and have less than $1 billion in revenue — from holding a “say-on-pay” vote. Please click here to read the full article.
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Health Care in the High Court: Reading the Tea Leaves of Supreme Court Arguments
By McDermott Will & Emery on Mar 22, 2012
Posted In Employee Benefits, Health and Welfare Plans
Thursday, March 29, 2012 12:00 – 1:15 pm EDT To register, please click here. On March 26–28, the Supreme Court of the United States will undertake an extraordinary six hours of oral argument to decide the fate of the health reform legislation known as the Patient Protection and Affordable Care Act. McDermott Will & Emery will be...
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Will Auditors Influence How Executives Are Paid?
By McDermott Will & Emery on Mar 20, 2012
Posted In Executive Compensation
by Andrew C. Liazos Public Company Accounting Oversight Board (PCAOB) proposals would have auditors reading the employment and compensation contracts of corporate leaders and, possibly, forcing changes to comp programs due to unacceptable risks of material restatement. To read the full article, click here.
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