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In this installment of our Employee Benefits and Executive Compensation Considerations in Mergers and Acquisitions podcast series, Troutman Pepper Partners Joshua Gelfand and Michael Crumbock discuss current executive...more
As summer turns to fall, the employee benefits landscape continues to evolve. A few of our thoughts on recent updates are below. Also be on the lookout over the coming weeks for a separate guide to SECURE 2.0 provisions that...more
A recent Seventh Circuit decision affirms the principle that an ERISA severance plan can reserve to the employer discretion over who is eligible for severance benefits. The case is Carlson v. Northrop Grumman Severance Plan,...more
If employees are required to provide proof of COVID-19 vaccination or a timely negative COVID-19 test, and/or wear a mask as a condition of employment (COVID-19 Policies), and an employee is terminated for violating a...more
In-house counsel and human resources professionals at tax-exempt colleges and universities often face a variety of challenges when structuring, and determining obligations due under, severance arrangements. There are some key...more
There are a number of important considerations for employers to keep in mind when drafting a severance agreement. Join Milwaukee shareholders Bud Bobber and Brian Radloff for a discussion of practical tips for drafting...more
Whether a one-time voluntary separation program should be treated as an ERISA-covered severance plan depends on whether the program requires an “ongoing administrative scheme” – a requirement first established by the Supreme...more
Employers commonly make payments to former employees for a number of reasons. Two of the more routine payments are those from a non-qualified deferred compensation plan (such as payments from a supplemental executive...more
In this benefits law edition of The Proskauer Brief, senior counsel Anthony Cacace and partner Robert Projansky discuss how severance plans can be subject to ERISA. We will discuss the key advantages of having severance pay...more
Specialists have long touted certain significant advantages to employers that come along with maintaining ERISA severance plans, and a recent district court case highlights some of these advantages....more
Generally speaking, many employers do not think about the Employee Retirement Income Security Act (ERISA) when it comes to severance, whether at the front end, when employment agreements or policies are negotiated and...more
On June 21, the IRS issued long awaited proposed regulations under Section 457 of the Internal Revenue Code that affect a broad range of compensation arrangements at tax exempt organizations. If a compensation arrangement is...more
Often, when parting ways with an employee, an employer may offer to pay for some months of COBRA continuation coverage so that the employee can remain covered without having to pay the substantial premiums associated with...more
In a common occurrence throughout corporate America, an employee terminates employment and as a result will lose company-provided health care coverage. To obtain health care coverage, the employee has two options: 1) elect...more