McDermott Will & Emery
Subscribe to McDermott Will & Emery's PostsPuerto Rico Retirement Plans: Issues Employers Should Think About in 2012
By McDermott Will & Emery on Jul 12, 2012
Posted In Retirement Plans
by Nancy S. Gerrie, Jeffrey M. Holdvogt and Brian J. Tiemann Puerto Rico and U.S. laws affecting retirement plans have changed extensively in the last few years. Puerto Rico adopted a new tax code in 2011, and both the U.S. and Puerto Rico Treasury Departments issued a number of rulings that have a significant impact...
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SEC Finalizes Dodd-Frank Independence Rules Under Section 952
By McDermott Will & Emery on Jul 10, 2012
Posted In Executive Compensation
by Andrew C. Liazos On June 20, 2012, the Securities and Exchange Commission (SEC) adopted final rules to implement the compensation committee independence requirements under Section 952 of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (Dodd-Frank). The final rules require the national securities exchanges (such as the New York Stock Exchange...
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New DOL Opinion States Certain 403(b) Plans No Longer Exempt from ERISA
By McDermott Will & Emery on Jun 26, 2012
Posted In Retirement Plans
by Mary K. Samsa, Todd A. Solomon and Joseph K. Urwitz Recently issued U.S. Department of Labor guidance indicates limitations on the use of an exemption from the Employee Retirement Income Security Act of 1974, as amended (ERISA), for certain 403(b) Plans. To read the full article, click here.
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French Employment Agreements Should Specifically Name Switzerland in Non-Compete Clauses
By McDermott Will & Emery on Jun 15, 2012
Posted In Employment
by Sébastien Le Coeur and Jilali Maazouz If a French employer wants to prohibit an employee from working for a competitor in both the European Union and Switzerland, then the employer should specifically list both jurisdictions in the non-compete portions of an employment agreement. In employment agreements, France and many other jurisdictions limit enforcement of...
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New EEOC Rule Significantly Increases Employer Burdens in ADEA Disparate Impact Cases
By McDermott Will & Emery on Jun 12, 2012
Posted In Employment
by Stephen D. Erf, Chris C. Scheithauer and Heather Egan Sussman. The Equal Employment Opportunity Commission (EEOC) recently amended its regulations under the Age Discrimination in Employment Act (ADEA) concerning disparate impact claims. The final rule, which became effective on April 30, 2012, is likely to impose significant administrative burdens on employers as well as...
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UK Employment Seminar: Revamping your UK Equal Opportunities Programme
By McDermott Will & Emery on Jun 8, 2012
Posted In Employment
Thursday, June 21, 2012 8:45 am: Registration and breakfast 9:00 – 10:30 am: Employment Seminar McDermott Will & Emery Heron Tower 110 Bishopsgate London EC2N 4AY View map We are pleased to invite you to the London Employment Group’s second breakfast seminar of 2012, at which we will be considering what Harvard Business School and...
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Recent PPACA Guidance on New $2,500 Health FSA Limit
By McDermott Will & Emery on Jun 5, 2012
Posted In Health and Welfare Plans
by Maureen O’Brien and Susan Nash The Internal Revenue Service (IRS) recently released guidance on the implementation of the $2,500 limit on health flexible spending accounts (FSA) scheduled to go into effect in 2013. IRS Notice 2012-40 (Notice) clarifies the application of the new limit for plan years beginning after 2013 and solicits comments regarding...
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New Proposed Section 83 Regulations Clarify What Constitutes a Substantial Risk of Forfeiture
By McDermott Will & Emery on May 30, 2012
Posted In Executive Compensation
by Joseph S. Adams and Andrew C. Liazos Earlier today, the Internal Revenue Service (IRS) released new proposed Section 83 regulations, which clarify several points including: A substantial risk of forfeiture (SRF) may be established only through a service condition or a condition related to the purpose of the transfer. Citing the U.S. Court of Appeals...
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Clash of the Generations – Age Discrimination in the United Kingdom in 2012
By McDermott Will & Emery on May 29, 2012
Posted In Employment
by Katie L. Clark In Europe, many employers are currently caught in the middle of a conflict between older and younger employees. Many older employees want to work longer (whether by choice or necessity), while younger employees feel that an aging workforce is hampering their career progression. Both feel that that their age is being...
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Executive Travel on Corporate Aircraft–Strategies for Regulatory Compliance and Tax Efficiency
By McDermott Will & Emery on May 17, 2012
Posted In Executive Compensation
by Ruth Wimer Recent press coverage of Internal Revenue Service and U.S. Securities and Exchange Commission problems with executive travel on company aircraft makes continued use challenging. The known benefits of business-owned aircraft include security, privacy and efficiency, particularly in light of delays inherent in commercial travel. This newsletter describes in plain English the basic...
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