Statute of Limitations Defense--Benefits Briefs--Vol. 13, No. 2
Nixon Peabody LLP
This article outlines three steps an employer should take in reviewing a claim for benefits in order to ensure that the statute of limitations begins to run when the employer first receives the participant's paperwork.
Retirement Protection Act of 1994: Summary of Major Reforms
Pension Benefit Guaranty Corp. Ogc Library
Summary of the Retirement Protection Act of 1994 from the Pension Benefit Guaranty Corporation.
IRS Approves Mandatory 401(k) Contributions, if Appropriate Notice is Provided to Plan Participants
Cooley Godward Kronish LLP
This alert discusses an IRS ruling that a 401(k) plan may require mandatory 401(k) contributions to be withheld from eligible employees? compensation, if the employer gives appropriate notice to its employees and the employees have an opportunity to "elect out" of the mandatory contributions.
Nasdaq and the New York Stock Exchange Revise Shareholder Approval Requirements for Equity Compensation Plans
Morrison & Foerster LLP
On June 30, 2003, the Securities and Exchange Commission (the ÃÂSECÃÂ) approved changes to the listing requirements of Nasdaq and the New York Stock Exchange (the ÃÂSROsÃÂ) requiring shareholder approval of most equity compensation plans.
This Holiday Give Turkeys, Not Certificates for Turkeys
Patricia A. Hintz of Quarles & Brady LLP
In a recent Technical Advice Memorandum ("TAM"), the Internal Revenue Service concluded that employer-provided holiday gift coupons that were redeemable at certain grocery stores for up to $35 were taxable to employees.
How To File A Claim For Your Benefits
General Services Administration, General Counsel Office
Publication from the General Services Administration Consumer Information Center which outlines the steps consumers may take to file a claim under the Employee Retirement Income Security Act of 1974 and what to do if they are denied benefits.
Selecting Retirement and Fringe Benefit Plan Providers
John H. McKendry of Warner Norcross & Judd LLP
This article discusses the heightened responsibility that because benefit plan providers have because of their exercise of fiduciary responsibility under governing federal law.
Thelen Reid Report No. 391: Internet Tax Freedom Act Imposes Three-Year Moratorium on State and Local Government Taxation of the Internet
Thelen LLP
This report discusses the three-year moratorium placed on state and local government taxation of the internet by the Internet Tax Freedom Act.
HR's Role in HIPAA Security Compliance
Philip L. Gordon of Littler Mendelson, P.C.
Suffering "HIPAA Privacy Rule fatigue," many human resources and benefits professionals have passed the compliance baton for the HIPAA Security Rule to their colleagues in the Information Technology (IT) Department. Letting IT grapple on its own with the HIPAA Security Rule most likely will mean that your organization will not meet the April 21, 2005, compliance deadline for covered health plans with annual receipts exceeding $5 million, or even the April 21, 2006 compliance deadline for covered health plans falling below that threshold.
Employee Benefits Highlights of Taxpayer Relief Act of 1997
Cooley Godward Kronish LLP
This alert highlights the changes in employee benefit plans resulting from the passage of the taxpayer relief act.
Your Guaranteed Pension
General Services Administration, General Counsel Office
Publication from the General Services Administration Consumer Information Center which answers frequently asked questions about the security of private pension plans, including benefits and plan termination.
New Treasury Regulations Protect Qualified Plans From Invalid Rollovers
Andrew J. Clark of Weil, Gotshal & Manges LLP
This article discusses a new U.S. Department of Treasury regulation which went into effect on April 21, 2000. This regulation protects eligible retirement plan participants from invalid rollovers.
SEC Turns Up the Heat on 401(k) Fiduciaries
Darren E. Nadel and Steven J. Friedman of Littler Mendelson, P.C.
This is not an easy time to be a 401(k) plan fiduciary. With frightening regularity, attacks have been launched by government agencies and plan participants, some successfully, at fiduciaries. And never has the group of potential plan fiduciaries been so large. In fact, quite recently courts have defined plan fiduciaries to encompass an array of corporate employees who range from those who are responsible for the administration of the 401(k) plan to the highest levels of the corporation.
Employers Face Potential New Responsibilities Under Welfare Reform
Rosenman & Colin LLP
Employers should also be aware of aspects of the new welfare reform act, the Personality Responsibility and Work .
Company Not Liable for Paying Benefits on Erroneous Statements--Law Alert--Issue 63
Nixon Peabody LLP
This update summarizes the Fitch v. Chase Manhattan Bank's decision whereby the U.S. District Court ruled that a company is not liable for a communication error on benefit statements.
Pension Termination
Pension Benefit Guaranty Corp. Ogc Library
Fact sheet from the Pension Benefit Guaranty Corporation which discusses the difference between stressed and standard termination of pension plans and how the PBGC protects participants in private defined benefit pension plans when employers cease sponsorship of their plans or when an employer can no longer stay in business and fund its pensions.
Avoiding or Winning Employee Benefit Plan Lawsuits
David F. Crutcher of Thelen LLP
Class action attorneys have discovered employee benefit plans. Company officials with responsibility for a plan are fair game for plaintiff's lawyers. Employers and fiduciaries should take steps to minimize the risk of liability, and a good first step is a fiduciary liability review.
Pension Plan Terminations
Pension Benefit Guaranty Corp. Ogc Library
Answers to questions frequently asked by employers and pension professionals relating to termination of defined benefit pension plans insured by the Pension Benefit Guaranty Corporation.
IRS Sides With Employer That Excluded Contract Workers From Its Qualified Retirement Plans
Mary B. Hevener of Weil, Gotshal & Manges LLP
This article reviews a recent IRS Technical Advice Memorandum ("T.A.M.") which concluded that employers can exclude contract workers from its qualified retirement plans.
SEC Approves NYSE and Nasdaq Rules Relating toShareholder Approval of Equity Compensation Plans
John Brent Shannon of Alston & Bird LLP
Effective June 30, 2003, the Securities and Exchange Commission (SEC) approved new rules of the New York Stock Exchange (NYSE) and of the Nasdaq Stock Market (Nasdaq) that significantly broaden shareholder approval requirements for equity-based compensation plans. Among other things, the new rules eliminate exceptions formerly available for broadly based plans and certain de minimis equity grants.