In the laundry list of retirement plan administrative and operational requirements, plan sponsors may sometimes overlook their obligations with respect to terminated vested employees. Even though these individuals have left...more
On November 27, 2023, the IRS published proposed regulations clarifying the rules for long‑term, part-time employees (“LTPT employees”). The new rules — long-awaited since enactment of the SECURE Act in December 2019 —...more
Jesse Shaver alleges that a founder and CEO of Raleigh-based defense contractor Vadum, Inc., “tricked him into losing his right to equity” in the company. In Shaver v. Walker, 2023 NCBC 27, he claimed that Aaron Walker and...more
A recent decision from the Southern District of New York reveals that courts may be inclined in some withdrawal liability cases to narrowly apply the building and construction industry exemption based on the nature and...more
Welcome to Part 8 of our series about the SECURE 2.0 Act of 2022 (SECURE 2.0) (our other articles may be found on our JL Employee Benefits Blog Post Page). Among the many changes within SECURE 2.0 are two provisions that may...more
The 2022 holiday season brought a long-awaited gift from Congress; the retirement plan bill known as “SECURE 2.0” (successor to 2019’s Setting Every Community Up for Retirement Enhancement Act, the original “SECURE Act”) was...more
“Would I ever leave this company? Look, I’m all about loyalty. In fact, I feel like part of what I’m being paid for here is my loyalty. But if there were somewhere else that valued loyalty more highly, I’m going wherever they...more
In every insolvency or bankruptcy proceeding, there are winners and losers. Senior secured creditors are often paid in full while general unsecured creditors receive pennies on the dollar. Typically, who gets paid and who...more
In a highly anticipated and thorough opinion, the 6th Circuit Court of Appeals concluded that use of the Segal Blend by a multiemployer pension plan (MEPP) in calculating an employer’s withdrawal liability violated ERISA. ...more
On Monday, June 14, 2021, the Colorado Supreme Court issued a long-awaited decision prohibiting so-called “use-it or lose-it” vacation policies. In Nieto v. Clark's Market, 19SC553, the Supreme Court overturned both the trial...more
Recap- Last week, we considered several of the revenue proposals included in the Biden Administration’s 2022 Budget that are probably of interest – or should we say, “of concern”? – to the owners of closely held...more
If you are a municipal employer in New York State struggling to find the answer to that question, you are not alone. In the absence of express language in your collective bargaining agreement, a definitive response is...more
The element that perhaps most significantly impacts the amount of an employer’s withdrawal liability – or indeed whether an employer even has withdrawal liability at all – is the actuarial method and interest rate used to...more
While the United States and California legal worlds remain (understandably) focused on issues arising out of the COVID-19 global pandemic, California courts continue to issue important, and potentially policy-altering,...more
On August 7, 2019, in Kelly v. Honeywell International, the Second Circuit handed down the latest decision in a series of cases across the country on a company’s obligation to provide lifetime health care to retirees....more
In its latest case addressing retiree health benefits, the Sixth Circuit Court of Appeals has held that a collective bargaining agreement’s general durational clause controls when retiree healthcare benefits end. Zino v....more
Seyfarth Synopsis: Over the last several years, the law governing disputes on lifetime retiree health benefits in the Sixth Circuit has had many twists and turns....more
Employees are not eligible for leave under the federal Family and Medical Leave Act (FMLA) unless, among other things, they have worked for a covered employer for at least 12 months. It is also a matter of common sense that...more
In the latest state appellate decision addressing the constitutionality of the California Public Employees’ Pension Reform Act of 2013 (“PEPRA”) and other recent pension reform legislation, Division One of the First District...more
Collective bargaining agreements, including those that establish ERISA plans, should be interpreted according to ordinary principles of contract law, the U.S. Supreme Court has reaffirmed in a per curiam opinion. CNH...more
Seyfarth Synopsis: Disputes over lifetime retiree health benefits for union retirees may become a memory of the past. For the second time in three years, the Supreme Court confirms that collective bargaining agreements must...more
In the latest twist in California’s pending vested rights litigation, parties on all sides of Alameda County Deputy Sheriff’s Assn. et al v. Alameda County Employees’ Retirement Assn., et al. (2018) 19 Cal.App.5th 61...more
After a brief hiatus, Proskauer's ERISA Newsletter is back with a brand new look. We hope you like it and find it is easier to navigate. In addition to implementing our new format, we have moved to a quarterly publication...more
On December 30, 2016, Division Three of the First District Court of Appeal (“DCA”) issued a unanimous published decision in Cal FIRE Local 2881, et al. v. CalPERS, et al. (Dec. 30, 2016, A142793) (“CalFIRE Decision”)...more
A federal district court in Ohio dismissed retirees’ claims for lifetime healthcare benefits from Honeywell. Honeywell provided healthcare benefits to plaintiffs through a series of collective bargaining agreements and,...more