In Central States, Southeast & Southwest Areas Pension Fund v. Sheets Enterprise, No. 24 cv 2277 (N.D. Ill.), a district court held that an employer could not avoid being held liable for withdrawal liability simply because it…
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/ Business Organizations, Civil Procedure, Conflict of Laws, Labor & Employment Law
In a unanimous decision, the U.S. Supreme Court ruled in Cunningham v. Cornell University that plaintiffs can satisfy the requirements for pleading prohibited party-in interest transactions under ERISA section 406(a) without…
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/ Business Torts, Civil Procedure, Labor & Employment Law
Like any for-profit company, nonprofit organizations want to attract and retain high caliber executives to achieve and further their missions. To accomplish this, a nonprofit organization may have to offer a particularly robust…
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/ Labor & Employment Law, Nonprofit Law, Taxation
Following up on our recent blog post, SECURE 2.0’s Required Changes to Annual Funding Notice Become Effective in 2025, the Department of Labor released Field Assistance Bulletin 2025-02 on April 3, which addresses compliance…
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/ Administrative Law, Labor & Employment Law, Taxation
Starting March 17, 2025, the Employee Benefits Security Administration’s Voluntary Fiduciary Correction Program (“VFCP”) will have a “self-correction” option. Although the new option eliminates the need to wait for formal…
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/ Labor & Employment Law, Taxation
In late October 2024, the United States Court of Appeals for the Eleventh Circuit ruled in Romano v. Hancock Life Insurance Company, F.4th 729 (11th Cir. 2024) that certain foreign tax credits that were generated as a result of…
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/ Finance & Banking, Insurance, Labor & Employment Law, Taxation
SECURE 2.0 introduced many changes for retirement plans, including updated disclosure requirements for a defined benefit plan’s annual funding notice (AFN). These updated AFN disclosure requirements apply for all plan years…
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/ Labor & Employment Law, Taxation
In Central States, S.E. & S.W. Pension Fund v. McKesson Corp., No. 23-cv-16770, 2025 WL 81358 (N.D. Ill. Jan. 13, 2025), the district court affirmed that a multiemployer pension plan’s calculation of withdrawal liability should…
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/ Civil Procedure, Labor & Employment Law
Multiemployer benefit plans generally require contributing employers to submit “remittance reports” that identify the employees that performed covered work, the type of work performed, and the amount of time worked. Plans rely…
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/ Civil Procedure, Commercial Law & Contracts, Labor & Employment Law
As described in further detail below, absent Congressional action, plan sponsors should take note that PBGC premium filings will generally be due one month earlier than usual for plan years beginning in 2025. This modification…
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/ Insurance, Labor & Employment Law, Taxation
Last week, Judge Reed O’Connor of the U.S. District Court for the Northern District of Texas, issued the first-of-its-kind ruling on the merits pertaining to environmental, social, and corporate governance (“ESG”) investing in…
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/ Finance & Banking, Securities Law
Recently, Institutional Shareholder Services (“ISS”) released updates to its voting policies for 2025, including new and updated responses to its Compensation Policies FAQs and new Value-Adjusted Burn Rate Benchmarks (based on…
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/ Business Organizations, Mergers & Acquisitions, Securities Law
In the wake of the horrific wildfires in Los Angeles (which are ongoing as of today), employees based in the Los Angeles area may have questions about available support from employer-sponsored 401(k) plan accounts and other…
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/ Labor & Employment Law, Taxation
The telehealth services safe harbor for high deductible health plans (“HDHPs”) will expire for plan years starting on or after January 1, 2025, absent Congress passing legislation extending or making the safe harbor permanent. …
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/ Health, Insurance, Labor & Employment Law, Taxation
Under 29 U.S.C. § 1301(b)(1), all “trades or businesses” under common control with an employer that has withdrawn from a multiemployer pension plan are jointly and severally liable for the employer’s withdrawal liability. The…
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/ Business Organizations, Labor & Employment Law, Taxation
