Brian Tiemann

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Brian J. Tiemann counsels public and private companies on a broad range of employee benefit matters, including matters related to pension plans, 401(k) plans and executive and incentive compensation. He advises plan fiduciaries with respect to their fiduciary duties, investment policies and alternative investments. He also advises multinational clients on global employee benefits matters, particularly with respect to global incentive compensation plans. Brian has extensive experience negotiating investment management agreements and service provider agreements. Read Brian Tiemann's full bio.

Environmental, Social and Governance (ESG) Investing for Retirement Plans: Where We’ve Been, and Where We Are Now


By on Dec 23, 2021
Posted In Employee Benefits, Fiduciary and Investment Issues, Retirement Plans

Over the past year, the regulatory backdrop around environmental, social and governance (ESG) investing has shifted. As McDermott Partner Brian J. Tiemann explains in these slides, the US Department of Labor (DOL) under the Trump administration dropped ESG terminology and set a high standard for considering factors other than purely financial projections for investment alternatives....

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IRS Announces 2022 Employee Benefit Plan Limits


By , and on Nov 10, 2021
Posted In Employee Benefits, Employment, Health and Welfare Plans, Retirement Plans

The Internal Revenue Service (IRS) recently announced the cost-of-living adjustments to the applicable dollar limits for various employer-sponsored retirement and welfare plans for 2022. Most of the dollar limits currently in effect for 2021 will increase. View the adjustments here.

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IRS Announces 2022 Retirement Plan Limits


By and on Nov 5, 2021
Posted In Employee Benefits, Employee Stock Ownership Plans (ESOPs), Employment, Retirement Plans

The Internal Revenue Service (IRS) recently announced the cost-of-living adjustments to the applicable dollar limits for retirement plans for 2022. Most of the dollar limits currently in effect for 2021 will increase, with only the catch-up contribution limit remaining the same for 2022. View the adjustments here.

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Department of Labor Exemption Impacts Investment Advice Fiduciaries


By , and on Jul 21, 2021
Posted In Employee Benefits, Fiduciary and Investment Issues, Retirement Plans

The US Department of Labor (DOL) recently issued guidance concerning a new exemption under the prohibited transaction provisions of the Employee Retirement Income Security Act of 1974 (ERISA) in connection with the provision of investment advice. PTE 2020-02, Improving Investment Advice for Workers & Retirees (the Exemption), became effective on February 16, 2021. On April...

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COVID-19 Stimulus Package Significantly Expands CARES Act Employee Retention Tax Credits


By , , and on Jan 21, 2021
Posted In Employee Benefits, Employment

The Consolidated Appropriations Act, 2021, which became law on December 27, 2020, makes significant changes to the employee retention tax credits available under the Coronavirus Aid, Relief and Economic Security Act (the CARES Act). The changes are generally designed to increase the availability, scope and amount of the credits. Significantly, employers that received a Payroll...

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Final Rule for Selecting Retirement Plan Investments Leaves “ESG” Behind


By , and on Dec 17, 2020
Posted In Employee Benefits, Employee Stock Ownership Plans (ESOPs), Fiduciary and Investment Issues, Retirement Plans

In recent guidance, the Department of Labor clarified the retirement plan standards for environmental, social and corporate governance (ESG) investing without mentioning the term ESG. The new guidance provides that, when selecting and monitoring plan investments, an Employee Retirement Income Security Act (ERISA) fiduciary must never sacrifice investment returns, take on additional investment risk or...

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DOL Creates Path for 401(k) Plans to Offer Private Equity Investment Options


By , and on Oct 29, 2020
Posted In Employee Benefits, Fiduciary and Investment Issues

In June, the US Department of Labor issued an information letter indicating that it will allow defined contribution retirement plans (such as 401(k) plans) to indirectly invest in private equity funds. While information letters are not binding, this new guidance creates a significant opportunity for plan sponsors to consider investment options that include private equity...

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IRS Announces 2021 Employee Benefit Plan Limits


By , , and on Oct 28, 2020
Posted In Employee Benefits, Employee Stock Ownership Plans (ESOPs), Health and Welfare Plans, Retirement Plans

The Internal Revenue Service (IRS) recently announced the cost-of-living adjustments to the applicable dollar limits for various employer-sponsored retirement and welfare plans for 2021. Nearly all of the dollar limits currently in effect for 2020 will remain the same, with only a few amounts experiencing minor increases for 2021. Access the article.

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DOL Proposed Regulations on Proxy Voting


By and on Oct 27, 2020
Posted In Employee Benefits, Fiduciary and Investment Issues

The Department of Labor (DOL) issued a proposed rule with 30-day comment period to address the application of fiduciaries’ duties with respect to proxy voting and exercises of other shareholder rights. The proposal requires fiduciaries to vote any proxy where the matter being voted upon would have an economic impact on the plan and prohibits...

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Proposed Jobs Credit Act Would Significantly Expand CARES Act Employee Retention Tax Credits


By , , and on May 27, 2020
Posted In Employee Benefits, Employment, Health and Welfare Plans

A bill titled Jumpstarting Our Businesses’ Success Credit Act of 2020, which would make significant changes to the employee retention tax credits available under the CARES Act, is currently under consideration in the US House of Representatives. In this article, we outline the proposed changes, which are generally designed to increase the availability, scope and...

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