In Notice 2024-73, the Internal Revenue Service (“IRS”) issued guidance on the application of certain non-discrimination rules to long-term, part-time employees in Internal Revenue Code (“Code”) Section 403(b) plans subject to…
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/ Labor & Employment Law, Insurance, Securities Law, Taxation
The Wagner Law Group continues to monitor the ongoing flood of “forfeiture” litigation. This alert is our seventh reporting on and analyzing the nature of the claims raised by plaintiffs, the defenses asserted against them, and…
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/ Civil Procedure, Finance & Banking, Labor & Employment Law, Securities Law
The Internal Revenue Service (“IRS”) and the Treasury Department on October 21, 2024, issued final regulations under Sections 3405(a) and 3405(b) of the Internal Revenue Code of 1986, as amended (“Code”). (The IRS had issued…
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/ Finance & Banking, International Law & Trade, Taxation
The SECURE 2.0 Act of 2022 (the “SECURE 2.0”) made significant changes to retirement plans and how they operate. Many of the changes have already been implemented by service providers, but some sponsors will need to plan for…
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/ Labor & Employment Law, Securities Law, Taxation
The Wagner Law Group continues to monitor the recent flood of retirement plan “forfeiture” litigation. This alert is our eighth update reporting on and analyzing the nature of the claims raised by plaintiffs, the defenses…
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/ Civil Procedure, Finance & Banking, Labor & Employment Law, Securities Law
When page 1 of a District Court decision on a challenge on constitutional grounds to an action by a governmental entity cites Marbury v. Madison, that is not a good sign for the government agency. When page 2 of a District Court…
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/ Civil Procedure, Constitutional Law, Finance & Banking
Exempt or not exempt, that is the question. It is not an easy question to answer, and it did not get any easier to answer when U.S. District Judge Sean D. Jordan vacated the Department of Labor (“DOL”) rule on overtime…
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/ Civil Procedure, Labor & Employment Law
President-Elect Trump has proposed Rep. Lori Chavez-DeRemer as the next Secretary of Labor. The selection is particularly notable for the clear pro-union leanings of the nominee of a Republican president-elect.
Any effort to…
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/ Elections & Politics, Finance & Banking, Labor & Employment Law
Last year, we alerted you to the filing of several class action lawsuits alleging that plan fiduciaries violated their duties of prudence and loyalty under Title I of ERISA by using forfeitures to reduce employer contributions…
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/ Labor & Employment Law, Taxation
July 25 was not a good week for the Department of Labor (“DOL”) in Texas. On July 25, the District Court for the Eastern District of Texas, in a civil action filed by the Federation of Americans for Consumer Choice, placed a…
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/ Insurance, Labor & Employment Law, Securities Law
The Department of the Treasury (“Treasury”) and the Internal Revenue Service (“IRS”), in an April 2024 follow-up to IRS Notice 2023-2, issued proposed regulations dealing with the one-percent excise tax under Internal Revenue…
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/ Finance & Banking, Taxation
Last year, we alerted you to the filing of several class action lawsuits alleging that plan fiduciaries violated their duties of prudence and loyalty under Title I of ERISA by applying forfeitures to reduce employer…
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/ Insurance, Labor & Employment Law
In December, we suggested, contrary to popular opinion, that serious attention should be given to the filing of several class action lawsuits alleging that plan fiduciaries violated ERISA by applying forfeitures to reduce…
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/ Labor & Employment Law
According to CMS, annual health care spending in the United States reached about $4.5 trillion in 2022, 9% of which (about $405 billion) was spent on prescription drugs.[1] CMS also reports that in 2022, 18% of annual health…
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/ Health, Insurance
On April 23, 2024, the Biden administration announced a final rule that impacts overtime protections by increasing compensation thresholds. The rule is intended to assist lower-paid salaried workers by expanding their overtime…
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/ Labor & Employment Law
