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By Maria C. Rodriguez, McDermott Will & Emery and McDermott Will & Emery on Feb 7, 2019
Posted In Employee Benefits, Employment
When California’s Dynamex decision rolled out the “ABC test”, it placed the burden on the employer to prove independent contractor (IC) status. In a presentation at the Employment and Employee Benefits Forum in California, McDermott’s lawyers discussed the implications of Dynamex, as it applies to various types of employers as well as those using staffing...
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IRS Finalizes Regulations Allowing Use of Forfeitures to Fund Safe Harbor Contributions, QNECs and QMACs
By Sarah L. Engle and McDermott Will & Emery on Aug 9, 2018
Posted In Employee Benefits, Retirement Plans
The Internal Revenue Service recently released final regulations confirming that employers can use plan forfeitures to fund qualified non-elective contributions (QNECs), qualified matching contributions (QMACs) and safe harbor contributions. As explained in our earlier On the Subject discussing this topic, IRS regulations historically provided that QNECs, QMACs and certain safe harbor contributions had to be...
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ESOP Fiduciary Responsibility for Value Determination
By McDermott Will & Emery on Jun 21, 2018
Posted In Employee Benefits, Employee Stock Ownership Plans (ESOPs), Fiduciary and Investment Issues, Retirement Plans
Emily Rickard presented “ESOP Fiduciary Responsibility for Value Determination” at the National Center for Employee Ownership National Conference addressing the fiduciary duties involved in the selection of an ESOP appraiser and the review of a valuation report. View the full presentation.
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Dynamex: Stricter Definition of Independent Contractors Brings New Challenges for California Employers
By P. Kevin Connelly and McDermott Will & Emery on Jun 19, 2018
Posted In Employment
Ron Holland, Ellen Bronchetti and Kevin Connelly presented on challenges California employers face in light of a stricter definition for independent contractors. They discuss the Dynamex presumption which places the burden on the hiring entity to establish that the worker is an independent contractor who was not intended to be included within the wage order’s...
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New VCP Compliance Fees Will Increase the Cost of Correcting Some of the Most Common Plan Errors
By Alan D. Nesburg, PC and McDermott Will & Emery on Feb 6, 2018
Posted In Employee Benefits, Retirement Plans
Last month, the Internal Revenue Service (IRS) published Revenue Procedure 2018-4, which modified the user fee schedule for submissions under the IRS’s Voluntary Correction Program (VCP). Under the new fee schedule, all VCP compliance fees are now based on the total net plan assets reported on a plan’s annual Form 5500-series return. This means that...
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Fringe Benefits: What the Proposed Tax Bills Mean to the Employer
By Anthony A. Bongiorno, McDermott Will & Emery and McDermott Will & Emery on Nov 21, 2017
Posted In Employee Benefits, Health and Welfare Plans
Both the House and Senate versions of tax reform propose significant changes that may reduce or eliminate the tax benefits of many popular employer-provided fringe benefits, such as dependent care assistance programs, on-premises gyms and bicycle commuting expense reimbursements. In addition, many common deductions for work-related activities—including certain meal and entertainment expenses—may see sweeping changes....
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Legally Mandated Benefit Plan Changes Still Require Bargaining
By McDermott Will & Emery and McDermott Will & Emery on Jun 15, 2017
Posted In Employee Benefits, Employment, Health and Welfare Plans, Labor
A unanimous panel of the NLRB, including Chairman Philip A. Miscimarra, held that ACA mandates do not relieve an employer of its duty to bargain with a union representing its employees regarding certain health insurance benefit plan changes. Read the full article.
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Understanding the Federal Court Injunction against the DOL’s Revised Overtime Rule and Determining What to Do Next
By McDermott Will & Emery on Nov 29, 2016
Posted In Employee Benefits, Employment, Labor
A federal district court judge in Texas issued an order granting a temporary injunction late Tuesday against the Department of Labor’s new overtime exemption rule that was scheduled to take effect December 1. This article contains some practical tips on what employers should do next. Read the full article.
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Supreme Court Emphasizes Heightened Pleading Standard for Stock Drop Cases
By McDermott Will & Emery on Mar 4, 2016
Posted In Employee Stock Ownership Plans (ESOPs), Fiduciary and Investment Issues, Health and Welfare Plans
On January 25, 2016, the Supreme Court of the United States issued a per curiam opinion in Amgen Inc. v. Harris, holding that the Amgen, Inc. employees who filed suit after the value of the employer stock in which they had invested dramatically decreased, failed to sufficiently plead a breach of fiduciary duty claim under...
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The Department of Labor Issues the Most Expansive Definition Yet of Joint-Employer Status
By Chris C. Scheithauer and McDermott Will & Emery on Feb 16, 2016
Posted In Employment, Labor
In its first major guidance of 2016, the U.S. Department of Labor has issued a definition of joint-employer status under the Fair Labor Standards Act that is even broader than the definition of joint-employer status issued by the National Labor Relations Board last summer. Coupled with its 2015 guidance on the misclassification of independent contractors,...
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