Brian Tiemann
Subscribe to Brian Tiemann's PostsBrian 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.
Department of Labor Exemption Impacts Investment Advice Fiduciaries
By Jennifer Hill, Todd Solomon and Brian Tiemann 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 David Fuller, Andrew Liazos, Brian Tiemann and Sarah L. Engle 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 Brian Tiemann and McDermott Will & Emery 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 Todd Solomon and Brian Tiemann 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 Jeffrey Holdvogt, Jacob Mattinson and Brian Tiemann 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 Todd Solomon and Brian Tiemann 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 Andrew Liazos, Brian Tiemann, David Fuller and Sarah L. Engle 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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CARES Act Payroll Tax Forum: IRS Weighs in on High-Profile Employee Retention Tax Credits
By Andrew Liazos, Brian Tiemann, David Fuller, Rachel B. Cowen and Sarah L. Engle on May 4, 2020
Posted In Employee Benefits, Employment
Decisions aimed at preserving your workforce in response to the COVID-19 pandemic can have a long-term impact on your business. As you prepare to emerge from government shutdown orders, recall that your workforce is your single most valuable asset. The Coronavirus Aid, Relief, and Economic Security (CARES) Act provides employee retention tax credits to help...
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COVID-19 FAQs: For Employee Benefits & Executive Compensation
By Erin Steele, Evan A. Belosa, Jacob Mattinson, McDermott Will & Emery, Sarah L. Engle, Brian Tiemann, Allison Wilkerson, Andrew Liazos and William R. Pomierski on Mar 26, 2020
Posted In Employee Benefits, Employment, Executive Compensation, Health and Welfare Plans, Retirement Plans
Coronavirus (COVID-19) raises serious concerns for employers of all shapes and sizes, across all industries and in every business sector. As the impact of COVID-19 continues to grow, many employers are faced with new challenges that affect not only their businesses and their employees, but the health and welfare, retirement and executive compensation plans and...
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IRS Announces 2020 Employee Benefit Plan Limits
By Brian Tiemann, Jeffrey Holdvogt and Jacob Mattinson on Nov 6, 2019
Posted In Employee Benefits, Health and Welfare Plans, Retirement Plans
Recently the Internal Revenue Service (IRS) and the Social Security Administration announced the cost-of-living adjustments to the applicable dollar limits on various employer-sponsored retirement and welfare plans and the Social Security wage base for 2020. In the article linked below, we compare the applicable dollar limits for certain employee benefit programs and the Social Security...
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