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By McDermott Will & Emery on May 2, 2013
Posted In Privacy and Data Security
by Jorge R. Arciniega, Elisabeth Malis Morgan and Heather Egan Sussman The U.S. Federal Trade Commission (FTC) released updated guidance on how to make online advertising and marketing disclosures “clear and conspicuous” to avoid consumer deception. The guidelines affect the structure and format of digital advertisements and marketing initiatives such as the use of endorsements...
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Company Owners Personally Liable for $3.1 Million Withdrawal Liability Assessment — Owners’ Lease of Commercial Property to Company Constituted “Trade or Business”
By McDermott Will & Emery on Apr 22, 2013
Posted In Retirement Plans
by Jonathan J. Boyles, Paul J. Compernolle and David Diaz The U.S. Court of Appeals for the Seventh Circuit ruled that owners can be personally liable for multiemployer withdrawal liability where the owner leases property to its own closely held corporation. The decision highlights the dangers of related-party transactions, failing to observe business formalities and...
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Demystifying Roth 401(k): Old and New Rules and New Opportunities
By McDermott Will & Emery on Mar 28, 2013
Posted In Employee Benefits, Employment
Tuesday, April 9, 2013 12:30 pm – 1:30 pm EDT To register, please click here. Recent legislation that expands the availability of in-plan Roth conversions has reinvigorated 401(k) plan sponsors’ interest in adopting or expanding a Roth 401(k) feature. Even before the new legislation, studies showed Roth 401(k) gaining significant traction. Join McDermott Will &...
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What You Need to Know About FATCA’s Impact on Non-U.S. Retirement Plans
By McDermott Will & Emery on Mar 26, 2013
Posted In Retirement Plans
by Andrew C. Liazos, Todd A. Solomon and Kary Crassweller The Internal Revenue Service recently published final regulations under the Foreign Account Tax Compliance Act (FATCA), which are effective immediately. FATCA imposes significant reporting obligations on both non-U.S. foreign financial institutions (FFIs) and U.S. taxpayers holding foreign financial accounts. A non-U.S. retirement plan may be...
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IRS Provides Additional Favorable Guidance on Recently Modified Voluntary Classification Settlement Program
By McDermott Will & Emery on Mar 21, 2013
Posted In Employment
by Jeffrey M. Holdvogt, Ruth Wimer and David Diaz On February 27, 2013, the Internal Revenue Service (IRS) issued News Release IR-2013-23 to provide additional favorable guidance regarding modifications to the Voluntary Classification Settlement Program (VCSP) issued in Announcements 2012-45 and 2012-46 addressing worker classification issues. The VCSP allows eligible employers to voluntarily reclassify their...
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IRS Issues 403(b) Plan Fix-It Guide
By McDermott Will & Emery on Mar 14, 2013
Posted In Retirement Plans
by Mary K. Samsa, Todd A. Solomon and Joseph K. Urwitz On February 21, 2013, the Internal Revenue Service (IRS) added to its “self-help” resources a new “403(b) Plan Fix-It Guide” to provide guidance more specifically directed at 403(b) plan sponsors that identify qualification or operational plan failures under their 403(b) plans. Additionally, the IRS...
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Finalized ACA Regulations on Transitional Reinsurance Program Premiums and Potential Effects for Employer-Sponsored Group Health Plans
By McDermott Will & Emery on Mar 12, 2013
Posted In Health and Welfare Plans
by Amy M. Gordon, Susan M. Nash and Jacob Mattinson As part of the Patient Protection and Affordable Care Act, the U.S. Department of Health and Human Services (HHS) recently released final regulations regarding the transitional reinsurance program fee effective in CY 2014. Effective May 10, 2013, the regulations address the estimated amount of annual...
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Revisions to Labour Contract Law Address Employee Dispatch Issues, Company Employment Models
By McDermott Will & Emery on Feb 27, 2013
Posted In Labor
by John Z.L. Huang and May Lu The People’s Republic of China recently released revisions to its Labour Contract Law that will affect agencies that dispatch employees, dispatched employees’ rights and companies that hire dispatched employees. The revisions are scheduled to take effect July 1, 2013. To read the full article, click here.
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DOL Audit Letters Requesting Proof of Compliance with Health Care Reform Requirements
By McDermott Will & Emery on Feb 21, 2013
Posted In Health and Welfare Plans
by Susan M. Nash, Mary K. Samsa and Maggie McTigue The U.S. Department of Labor (DOL) audits already evaluate a company’s compliance on a spectrum of laws, statutes and regulations. However, the DOL has updated and revamped its audit letter to now also capture compliance aspects of the Patient Protection and Affordance Care Act. Not...
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Privacy and Data Protection: 2012 Year in Review
By McDermott Will & Emery on Feb 19, 2013
Posted In Privacy and Data Security
For more information, please contact Heather Egan Sussman, Daniel F. Gottlieb or Rohan Massey. Privacy and data protection continue to be an exploding area of focus for regulators in the United States and beyond. This Special Report gives in-house counsel and others responsible for privacy and data protection an overview of some of the major...
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