McDermott Will & Emery
Subscribe to McDermott Will & Emery's PostsERISA Preempts State Regulation of PBM–Pharmacy Pricing Agreements
By McDermott Will & Emery and Sarah P. Hogarth on Jul 31, 2018
Posted In Benefit Controversies, Employee Benefits, Health and Welfare Plans
ERISA broadly preempts state laws that “relate to” ERISA-governed employee benefit plans to ensure a uniform federal regulatory scheme and to relieve ERISA plans from the burdens of satisfying a patchwork of state laws. Recently, however, several states have enacted legislation designed to regulate the prices that pharmacy benefit managers, as third-party administrators for ERISA-governed...
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Lessons Learned from ESOP-Owned Companies from Recent Litigation
By McDermott Will & Emery on Jul 17, 2018
Posted In Employee Stock Ownership Plans (ESOPs)
Recent litigation and audit activity is focusing on the process undertaken by fiduciaries in connection with a transaction involving an ESOP. Eliot Burriss presented at the 2018 National Center for Employee Ownership Conference summarizing relevant litigation cases, exploring roles and responsibilities, and providing best practices. View the full presentation.
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SEC Director Makes Groundbreaking Speech about Blockchain Token Sales
By Anthony A. Bongiorno, McDermott Will & Emery, Alexandra Scheibe and David L. Taub on Jul 3, 2018
Posted In Executive Compensation, Fiduciary and Investment Issues
The Director of the SEC’s Division of Corporation Finance William Hinman gave a speech in which he discussed whether a digital asset originally offered as a security can become something other than a security over time. The speech provided some of the most important considerations to date for analysis of blockchain token transactions under US...
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Navigating the Challenges of Cross-Border M&A Transactions
By Anthony A. Bongiorno and McDermott Will & Emery on May 8, 2018
Posted In Employee Benefits, Employee Stock Ownership Plans (ESOPs), Employment, Executive Compensation, Health and Welfare Plans, Retirement Plans
Last month, Alexander Lee and Maureen O’Brien joined with Rob Wellner from Velocity Global to discuss the tax and employee benefits complications that arise in cross-border transactions. Key points discussed: Complex tax structures must be considered and understood Transfers of employment may be governed by different statutes in each affected jurisdiction Purchasers may not be...
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ESOP Litigation Trends: Department of Labor Voids Fiduciary Indemnification Agreements to Reach Settlements
By McDermott Will & Emery, Allison Wilkerson, J. Christian Nemeth and McDermott Will & Emery on Apr 12, 2018
Posted In Employee Benefits, Employee Stock Ownership Plans (ESOPs), Fiduciary and Investment Issues
The US Department of Labor has taken the position that certain indemnification clauses are void against public policy under Section 410 of ERISA. This policy has been adopted by private plaintiff classes; as evident from a recent settlement, a policy that voids indemnity provisions can limit defense budgets, make settlements more likely and potentially create...
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LIVE WEBINAR | Employee Benefits and Employment Integration: How to Handle Transactions Without Losing Your Workforce
By McDermott Will & Emery and McDermott Will & Emery on Mar 22, 2018
Posted In Employee Benefits, Employment, Health and Welfare Plans, Retirement Plans
Avoid the culture wars and legal issues post-transaction. Join our lawyers Kristin E. Michaels, Maureen O’Brien and moderator Judith Wethall for a discussion of how to best integrate employees and employee benefit plans after a transaction. Register Today.
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Webinar: Navigating the Challenges of Cross-Border M&A Transactions
By Anthony A. Bongiorno and McDermott Will & Emery on Mar 19, 2018
Posted In Employee Benefits, Employment, Executive Compensation
Join us Wednesday, March 21 at 1:00 pm (EDT) for an in-depth webinar on navigating cross-border mergers and acquisitions. Partners Alexander Lee and Maureen O’Brien along with Rob Wellner from Velocity Global will be presenting the unique tax, employment, benefits and executive compensation issues that arise during and after a global transaction. With these insights,...
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The Budget Act Makes Some Surprising Changes to Benefit Plans
By Jacob Mattinson, McDermott Will & Emery and Sarah L. Engle on Mar 6, 2018
Posted In Employee Benefits, Employee Stock Ownership Plans (ESOPs), Retirement Plans
On February 9, 2018, President Trump signed a bipartisan budget deal into law, effectively extending federal funding through March 23, 2018. The act includes multiple provisions affecting employee benefit plans, including relaxed hardship withdrawal rules and relief for individuals affected by the California wildfires. Continue Reading.
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Going Up but Never Down | 2018 ERISA Penalties
By McDermott Will & Emery and Diane Morgenthaler on Feb 15, 2018
Posted In Employee Benefits, Employee Stock Ownership Plans (ESOPs), Health and Welfare Plans, Retirement Plans
The Department of Labor announced increased penalties for employee benefit plans under ERISA. The increases generally apply to penalties that involve employee benefit reporting and disclosure failings if the penalty is assessed after January 2, 2018, and if the violation occurred after November 2, 2015. We’ve compiled a resource outlining the ERISA penalty amounts assessed...
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Digital Health Year in Review: 2017 Trends and Looking Ahead to 2018
By Jiayan Chen, Lisa Schmitz Mazur, Michael Ryan, Ryan Marcus, Scott Weinstein, Sarah T. Hogan, Vernessa T. Pollard, McDermott Will & Emery, Bernadette M. Broccolo, Dale C. Van Demark and Jennifer S. Geetter on Feb 8, 2018
Posted In Health and Welfare Plans, Privacy and Data Security
Throughout 2017, the health care and life sciences industries experienced a widespread proliferation of digital health innovation that presents challenges to traditional notions of health care delivery and payment as well as product research, development and commercialization for both long-standing and new stakeholders. At the same time, lawmakers and regulators made meaningful progress toward modernizing...
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