Brian Tiemann
Subscribe to Brian Tiemann's PostsBrian J. Tiemann counsels public and private companies on a broad range of employee benefit matters, including matters related to pension plans, 401(k) plans and executive and incentive compensation. He advises plan fiduciaries with respect to their fiduciary duties, investment policies and alternative investments. He also advises multinational clients on global employee benefits matters, particularly with respect to global incentive compensation plans. Brian has extensive experience negotiating investment management agreements and service provider agreements. Read Brian Tiemann's full bio.
DOL Less Likely to Appeal Fifth Circuit Ruling Vacating Expansion of Fiduciary Rule in Light of Recent SEC Guidance
By Brian Tiemann, J. Christian Nemeth and Samantha Souza on Apr 26, 2018
Posted In Benefit Controversies, Employee Benefits, Fiduciary and Investment Issues, Retirement Plans
In a recent 2-1 decision, the Fifth Court vacated the US Department of Labor’s controversial expansion of the ERISA fiduciary regulations (the New Fiduciary Rule). If the DOL does not seek a rehearing, the Fifth Circuit will enter a mandate revoking the New Fiduciary Rule nationwide. However, given recent fiduciary regulations proposed by the Securities...
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No Stone Unturned: Locating Missing Participants under the PBGC’s Expanded Program for Terminated Plans
By Brian Tiemann, Maggie McTigue and Sarah L. Engle on Apr 5, 2018
Posted In Employee Benefits, Employee Stock Ownership Plans (ESOPs), Fiduciary and Investment Issues, Retirement Plans
The PBGC’s missing participants program, which previously applied only to single-employer defined benefit pension plans, has been expanded to defined contribution plans, multiemployer defined benefit plans and small professional service defined benefit plans that end on or after January 1, 2018. The revised program provides a helpful alternative for plan administrators of terminating defined contribution plans, and...
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Update: IRS Announces Employee Benefit Plan Limits for 2018
By Brian Tiemann, Jeffrey Holdvogt and Jacob Mattinson on Dec 6, 2017
Posted In Employee Benefits, Health and Welfare Plans, Retirement Plans
On Monday, November 27, 2017, the Social Security Administration announced (announcement here) that the it is lowering the maximum amount of earnings subject to the Social Security tax for 2018 to $128,400. The Social Security Administration had previously announced the amount as $128,700. The revision is the result of updated wage data reported to Social...
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IRS Announces Employee Benefit Plan Limits for 2018
By Brian Tiemann, Jeffrey Holdvogt and Jacob Mattinson on Oct 20, 2017
Posted In Employee Benefits, Health and Welfare Plans, Retirement Plans
The Internal Revenue Service (IRS) recently announced the cost-of-living adjustments to the applicable dollar limits for various employer-sponsored retirement and welfare plans for 2018. Although some of the dollar limits currently in effect for 2017 will remain the same, the majority of the limits will experience minor increases for 2018. Continue reading.
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McDermott Announces Determination Letter Replacement Program, Addressing the Gap in Retirement Plan Compliance
By Brian Tiemann, Diane Morgenthaler, Jeffrey Holdvogt, Jacob Mattinson, Joseph K. Urwitz, Kay Kemp, Lisa Loesel, Maggie McTigue , Mary K. Samsa, Sarah L. Engle, Allison Wilkerson, Alan D. Nesburg, PC, Andrew Liazos, McDermott Will & Emery and Todd Solomon on Oct 10, 2017
Posted In Employee Benefits, Employee Stock Ownership Plans (ESOPs), Fiduciary and Investment Issues, Retirement Plans
Since the announcement by the Internal Revenue Service (IRS) that sponsors of individually designed retirement plans may no longer receive a periodic determination letter, plan sponsors have faced uncertainty about how to demonstrate compliance for their retirement plans. Our McDermott Retirement Plan Compliance Program, a new opinion letter and operational review program for individually designed...
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DOL Proposes 60-Day Delay of Fiduciary Rule in Response to White House Directive
By Brian Tiemann on Mar 7, 2017
Posted In Employee Benefits, Retirement Plans
The future of the fiduciary rule—originally set to be implemented this upcoming April—remains uncertain after the White House directed the United States Department of Labor (DOL) to reevaluate, defer implementation and consider rescinding the controversial new fiduciary rule on February 3, 2017. In response to the White House, the acting US Secretary of Labor announced...
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White House Urges Suspension of DOL Fiduciary Rule
By Brian Tiemann on Feb 21, 2017
Posted In Employee Benefits, Fiduciary and Investment Issues, Retirement Plans
The future of the fiduciary rule—originally set to be implemented this upcoming April—remains uncertain after the White House directed the United States Department of Labor (DOL) to reevaluate, defer implementation and consider rescinding the controversial new fiduciary rule on February 3, 2017. In response to the White House, the acting US Secretary of Labor announced...
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White House Urges Suspension of DOL Fiduciary Rule
By Brian Tiemann on Feb 8, 2017
Posted In Employee Benefits, Fiduciary and Investment Issues, Retirement Plans
The future of the fiduciary rule—originally set to be implemented this upcoming April—remains uncertain after the White House directed the United States Department of Labor (DOL) to reevaluate, defer implementation and consider rescinding the controversial new fiduciary rule on February 3, 2017. In response to the White House, the acting US Secretary of Labor announced...
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Protecting Defined Contribution Plan Retirement Savings During Disability
By Brian Tiemann and Maggie McTigue on Nov 8, 2016
Posted In Retirement Plans
As employers have moved away from traditional defined benefit plans toward defined contribution plans as the primary retirement savings vehicle for their employees, much has been written about the risks of shifting the retirement savings burden from the employer to the employee. One widely-recognized consequence of this shift in retirement savings methods is that many...
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Financial Planning & Analysis
By Brian Tiemann and Todd Solomon on Oct 19, 2016
Posted In Fiduciary and Investment Issues, Retirement Plans
On Monday, October 24, Chicago partners Todd Solomon and Brian Tiemann will speak at the Association of Financial Professionals conference in Orlando, Florida. Joined by Kendall Frederick, Senior Manager of Finance Integration at Hanesbrands Inc., the panel will discuss how to use financial planning and analysis analytics to help plan fiduciaries assess the need and potential...
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