Federal caselaw updateEmployee Benefits, June 2010Recent cases relating to Employee Benefits.
DOL: Office of the SolicitorEmployee Benefits, March 2010The Office of the Solicitor of the United State Department of Labor has filed amicus briefs in several pending cases.
ESOPsBy Corey RosenEmployee Benefits, March 2010By providing employers with incentives to make these well-above-normal contributions to ESOPs, Congress has provided a system in which ESOP participants do demonstrably better than their peers, as do ESOP companies.
Illinois: Funding Public PensionEmployee Benefits, March 2010How does Illinois' state retirement system compare to those of other states?
Multiemployer withdrawal liability: Understanding the basicsBy Keith R. McMurdyEmployee Benefits, March 2010A general summary of many of the basic concepts impacting an employer in a withdrawal scenario. Because each withdrawal is factually specific to the employer and the fund involved, it cannot be assumed that all concepts apply in every situation. However, these basics help explain how withdrawal liability works.
Executive bonusesBy Douglas A. DarchEmployee Benefits, December 2009When an executive leaves her position midway through the performance measurement period for an annual bonus, is she entitled to a pro-rata share of the annual bonus?
Federal caselaw updateBy David R. ShannonEmployee Benefits, December 2009The DOL has filed amicus briefs in the following cases.
Taxation of employment-related settlement paymentsBy Elizabeth Erickson & Ira B. MirskyEmployee Benefits, December 2009In an internal memorandum dated October 22, 2008, but released only in July of this year, the Internal Revenue Service (IRS) Office of Chief Counsel has outlined information necessary to determine the correct tax treatment of employment-related settlement payments.
Federal caselaw updateEmployee Benefits, September 2009Recent cases of interest to employee benefits attorneys.
Privacy: Social Security numbersEmployee Benefits, September 2009ERISA has a little-known privacy provision in Section 106(b) which restricts the disclosure of certain information about participants.
401(k) Fiduciary Duties: Continuum of AmbiguitiesBy Melissa CaldwellEmployee Benefits, June 2009401(k) revenue sharing and plan fiduciary duty litigation is becoming a complex area of law. With an increasing number of claims alleging breach of fiduciary duties and fee disclosure, employers and plan sponsors are looking for direction in this confusing area of ERISA law.
Federal caselaw updateEmployee Benefits, June 2009Recent cases of interest to employee benefits attorneys.
Abandoned retirement plansBy Douglas A. DarchEmployee Benefits, March 2009As the recession has worsened, many employers are simply closing their doors and walking away from their obligations. The frequent result of a “walk-away” is that the benefit plan is abandoned. An abandoned Plan loosely defined is a plan which no longer has a “responsible” plan sponsor or plan administrator.
Hardship distributions from 401(k) plansBy Markus MayBusiness and Securities Law, March 2009A look at when employees are allowed to make hardship withdrawals from their existing 401(k) plans.
Patient Advocacy: A new benefit to aid in healthcare navigationBy Laura L. PautzEmployee Benefits, March 2009It does not take a specialty in employee benefits to realize the healthcare system can be difficult to navigate. A new profession known as health advocacy is forming to aid the population and to advocate access to healthcare.
Two new laws require employers to extend health benefitsBy Jim McGrathCorporate Law Departments, January 2009Recently President Bush signed Michelle’s Law, prohibiting health insurance companies from terminating coverage for dependent college students who are forced to leave school due to a medical condition or serious injury.
A felony does not always mean a forfeiture of pension benefitsBy John H. BrechinLocal Government Law, September 2008Romano v. Municipal Employees’ Annuity and Benefit Fund of Chicago involved an appeal from the judgment of the Circuit Court of Cook County confirming a decision of the Board of Trustees of the Municipal Employees’ Annuity and Benefit Fund, which found that as a consequence of his conviction of a felony, Romano forfeited all benefits he may have had as a participant in the Municipal Employees’ Annuity and Benefit Fund of Chicago.
Federal caselaw updateEmployee Benefits, June 2008Recent cases of interest to employee benefits practitioners.
ERISA fiduciaries may be sued for losses to individual accountsBy David OlsonCorporate Law Departments, April 2008The U.S. Supreme Court has clarified that individual participants in defined contribution plans can sue under ERISA for losses to their individual accounts, caused by an alleged fiduciary breach.
Supreme CourtEmployee Benefits, March 2008Recent cases decided by the Illinois Supreme Court and of interest to employee benefits practitioners.