ANGEL L. GARRETT and EMILY L. GARCIA, October, 2018 In January 2017, we informed you that fiduciaries of 12 university retirement plans had recently been hit with lawsuitsalleging defendants breached their fiduciary duties to their 403(b) retirement plans by offering what plaintiffs described as overly expensive, poorly performing funds, and/or by allowing their plans to […]
Author: Trucker Huss
SARAH KANTER, August, 2018 On June 21, 2018, the Department of Labor (DOL) published its highly anticipated and controversial final rule (the “final rule”) regarding Association Health Plans (AHPs). The final rule significantly expands the kinds of employer groups and associations that are permitted to establish an “employee welfare benefit plan” under the Employee Retirement […]
JENNIFER D. TRUONG, May, 2018 In December 2017, the Tax Cuts and Jobs Act (the “Act”) created a federal tax credit for certain employers offering paid family and medical leave in 2018 and 2019. After much anticipation, the IRS finally posted a set of FAQs on April 9, 2018, clarifying the new tax credit. Background […]
J. MARC FOSSE and SERENA AISENMAN, February, 2018 The “Tax Cuts and Jobs Act” added a new 21% tax penalty on “excess compensation” paid by most tax-exempt organizations to their top-five highest compensated employees. The penalty is found under section 4960 of the Internal Revenue Code (the “Code”) and it ties the amount of the […]
YATINDRA PANDYA, February, 2018 On January 5, 2018, the Department of Labor (DOL) announced April 1, 2018, as the applicability date for the final rule which revises regulations governing disability benefit claims (the “Final Rule”). Published in the Federal Register on December 19, 2016, the Final Rule revised the claims regulations governing disability benefits provided […]
FREEMAN L. LEVINRAD, February, 2018 The Tax Cuts and Jobs Act (the “Act”) contains a provision that requires tax-exempt organizations to recognize unrelated business income tax (UBIT) on certain fringe benefits offered to their employees. This change became effective January 1, 2018. It is important for tax-exempt organizations to understand how and why these fringe […]
J. MARC FOSSE and ANGEL L. GARRETT, January 11, 2018 New section 83(i) of the Internal Revenue Code (the “Code”) permits eligible private corporations1 to adopt qualified equity grant plans for issuing stock options or restricted stock units (RSUs) to eligible employees to obtain “qualified stock” (as defined below) in exchange for the performance of […]
ELIZABETH LOH, December 27, 2017 Although it is the holiday season and people’s thoughts have turned to vacation with family, eggnog, and gift giving — employers have something slightly less festive to contemplate. The Internal Revenue Service (IRS) has started to send out letters to employers regarding potential Employer Shared Responsibility Payments (ESRP) (one of […]
YATINDRA PANDYA and JAHIZ NOEL AGARD, December, 2017 On November 24, 2017, the Department of Labor (DOL) delayed the applicability of the final rule which revises the regulations governing disability benefit claims (the “Final Rule”) to April 1, 2018, from the original January 1, 2018, effective date. Published in the Federal Register on December 19, […]
CALLAN G. CARTER, December 27, 2017 I talked with Diane Wasser of EisnerAmper LLP, a national certified public accounting firm with a practice group specializing in the audit of retirement plans, about common issues that Diane and her team discover during their audits of retirement plans. Diane is the Partner-in-Charge of the firm’s Pension Services […]
TIFFANY N. SANTOS, December, 2017 Just before the start of the new year, the IRS issued Notice 2018-06, automatically extending to March 2, 2018 the due date for applicable large employers (generally those with 50 or more full-time employees) to furnish the Form 1095-C to full-time employees (pursuant to Section 6056 of the Internal Revenue […]
J. MARC FOSSE, December 27, 2017 The Tax Cuts and Jobs Act (the “Act”) recently signed into law affects many employer-provided benefits and employee compensation, beginning as soon as next week. This alert highlights the affected benefits and provides a short summary of how the Act will change the tax treatment of those benefits and […]
JOSEPH C. FAUCHER AND DYLAN R. RUDOLPH, DECEMBER 20, 2017 This article analyzes how Dudenhoeffer applies in cases involving stock of closely held companies. It was first published by Wolters Kluwer in the Journal of Pension Benefits, Summer 2017, Vol. 24, No. 4. In our last article, “ERISA Stock Drop Cases Since Dudenhoeffer: The Pleading Standard Has Been Raised,” […]
J. MARC FOSSE and YATINDRA PANDYA, December 20, 2017 On December 8, 2017, the Internal Revenue Service (the IRS) released Notice 2017-75 (the “Notice”), which provides limited relief from certain penalties under section 409A of the Internal Revenue Code (the “Code”) for tax payment distributions from a Code section 457A nonqualified deferred compensation arrangement (a […]
JOSEPH C. FAUCHER AND DYLAN R. RUDOLPH, DECEMBER 13, 2017 This article analyzes the Dudenhoeffer pleading standard and “stock drop” cases. It was first published by Wolters Kluwer in the Journal of Pension Benefits, Spring 2017, Vol. 24, No. 3. I. Introduction Before 2014, most of the federal Courts of Appeals applied a “presumption of prudence” when […]
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